WesBanco | research notes

Introducing WesBanco: A Leading Bank in the Mid-Atlantic Region

WesBanco, Inc. is a multi-state bank holding company headquartered in Wheeling, West Virginia. It operates a network of over 150 branches and offices in West Virginia, Pennsylvania, Ohio, Maryland, and Kentucky. WesBanco provides a wide range of financial services to individuals, businesses, and organizations.

History:

WesBanco was founded in 1870 as the Wheeling Savings Bank. Over the years, it grew through acquisitions and mergers, becoming one of the largest banks in the Mid-Atlantic region. In 1999, it changed its name to WesBanco to reflect its expanded operations beyond Wheeling.

Services Offered:

WesBanco offers a comprehensive suite of banking and financial services, including:

• Personal banking: checking and savings accounts, loans, mortgages, and credit cards
• Business banking: commercial lending, cash management, and deposit services
• Wealth management: investment services, financial planning, and trust administration
• Mortgage lending: residential and commercial mortgages
• Insurance: property and casualty insurance, and financial planning products

Financial Performance:

WesBanco has consistently delivered strong financial performance over the years. It has maintained a high capital ratio and a strong balance sheet. The bank has also been recognized for its customer service and community involvement.

Corporate Culture:

WesBanco is committed to providing excellent customer service and supporting the communities it serves. The bank emphasizes values such as integrity, respect, and teamwork. It is also a major employer in the Mid-Atlantic region.

Market Position:

WesBanco is a leading bank in the Mid-Atlantic region. It holds significant market share in several key markets, including Wheeling, Morgantown, and Hagerstown. The bank is well-known for its local expertise and personalized service.

Conclusion:

WesBanco is a well-established and respected bank that has a deep understanding of the Mid-Atlantic market. It offers a comprehensive range of financial services to individuals, businesses, and organizations. With its strong financial performance, commitment to customer service, and focus on community involvement, WesBanco is well-positioned for continued growth in the years to come.

WesBanco's Business Model

WesBanco is a multi-state bank holding company with operations in West Virginia, Kentucky, Ohio, Pennsylvania, and Maryland. Its primary business model revolves around:

• Community Banking: Focuses on providing financial services to individuals, families, and businesses within its local communities.
• Wealth Management: Offers a range of investment, planning, and trust services for high-net-worth clients.
• Mortgage Lending: Provides mortgage financing for residential and commercial properties.
• Commercial Lending: Lends money to businesses for expansion, acquisition, and other purposes.
• Treasury and Cash Management: Offers services to help businesses and government entities manage their cash flow and other financial operations.

Advantages to Competitors

WesBanco differentiates itself from competitors through the following advantages:

• Local Focus: Strong presence in local communities, allowing for deep relationships and understanding of customer needs.
• Customer-Centric Approach: Emphasis on providing personalized and tailored financial solutions to meet specific customer goals.
• Conservative Lending Practices: Prudent underwriting standards ensure strong credit quality and minimize risk exposure.
• Technology Adoption: Investment in technology to enhance customer experience and streamline operations.
• Strong Financial Performance: Consistently reports solid financial results, including high return on assets and equity.
• Community Involvement: Actively participates in community initiatives and supports local businesses and organizations.
• Employee Focus: Commits to investing in employee development and fostering a positive work environment.
• Stable Leadership: Led by a seasoned management team with extensive industry experience.
• Wide Range of Services: Offers a comprehensive suite of financial services to meet the diverse needs of customers.
• Acquisition Strategy: Extends its geographical reach and product offerings through strategic acquisitions.

Outlook of WesBanco, Inc.

Financial Performance

• Strong financial performance: Consistent earnings growth, driven by core banking operations, loan growth, and acquisitions.
• Growing revenue: Net interest income and non-interest income have shown steady increases in recent years.
• Solid profitability: Net income margins consistently exceed industry averages.
• Capital strength: Strong capital ratios and ample liquidity position.

Business Operations

• Regional footprint: Operates in three states (West Virginia, Ohio, and Pennsylvania) with a focus on community banking.
• Focus on relationship banking: Builds long-term relationships with customers and provides a wide range of financial services.
• Digital transformation: Investing in technology to enhance customer experience and streamline operations.
• Acquisition strategy: Has a track record of successful acquisitions, expanding its geographic reach and customer base.

Industry Environment

• Favorable industry outlook: The banking industry is benefiting from rising interest rates and economic growth.
• Competitive landscape: Faces competition from regional and national banks, as well as fintech companies.
• Regulatory challenges: Complies with complex financial regulations and faces ongoing regulatory scrutiny.

Market Share and Growth Prospects

• Leading market position: WesBanco holds a significant market share in its core operating regions.
• Growth opportunities: Expansion potential in adjacent markets and through acquisitions.
• Customer loyalty: Strong customer base and high retention rates.

Risks and Challenges

• Economic downturn: A recession could negatively impact loan growth and asset quality.
• Credit risk: Exposure to potential losses from loan defaults.
• Interest rate volatility: Changes in interest rates can affect profitability and asset values.
• Competition: Increasing competition from both traditional banks and non-banks.

Analyst Ratings

• Positive ratings: WesBanco has received positive ratings from several analysts, citing its strong financial performance, capital position, and acquisition strategy.

Valuation

• Attractive valuation: WesBanco trades at a discount to its peer group, offering potential upside for investors.
• Growth premium: Receives a premium valuation due to its strong growth prospects and market share gains.

Overall Outlook

WesBanco is a well-positioned regional bank with a strong financial foundation and a commitment to relationship banking. Its focus on its core markets and digital transformation initiatives provides growth opportunities. While it faces industry risks, WesBanco's strong capital position and experienced management team position it for continued success. The company offers investors a compelling investment opportunity with a combination of financial stability, growth potential, and attractive valuation.

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1870s

• 1875: The West Virginia Banking and Trust Company (predecessor to WesBanco) is founded in Wheeling, West Virginia, by a group of local businessmen.

1900s

• 1900: The bank expands its operations into Ohio by acquiring The First National Bank of Moundsville.
• 1915: The bank changes its name to WesBanco Bank, Inc.
• 1953: WesBanco becomes a publicly traded company on the American Stock Exchange.
• 1982: The bank expands its footprint into Pennsylvania by acquiring The Washington County National Bank of Washington, Pennsylvania.

2000s

• 2002: WesBanco acquires The First National Bank of Pennsylvania, the oldest bank in western Pennsylvania.
• 2006: The bank acquires Keystone Savings Bank, giving WesBanco a presence in central and eastern Pennsylvania.
• 2008: WesBanco acquires 1st Commerce Corporation, a bank holding company based in Lexington, Kentucky.
• 2011: The bank establishes WesBanco Insurance Services, Inc., a wholly-owned subsidiary providing insurance products and services.

2010s

• 2013: WesBanco acquires Omni Financial Corporation, a mortgage banking company based in Louisville, Kentucky.
• 2014: The bank acquires Lincoln National Bank of Louisville, a community bank in Louisville, Kentucky.
• 2015: WesBanco celebrates its 140th anniversary.
• 2016: The bank acquires Generations Bank, a community bank in Dayton, Ohio.
• 2017: WesBanco acquires Alliance Financial Group, Inc., a financial services company based in Richmond, Virginia.

2020s

• 2021: WesBanco acquires Calloway Bank and Trust Company, a community bank in Murray, Kentucky.
• 2022: The bank acquires Home Savings & Loan Company of Kenton, Ohio.
• 2023: WesBanco celebrates its 148th anniversary and continues to expand its operations in the Midwest and Southeast.

2020

• October 2020: WesBanco acquired Grand Financial Corporation, expanding its presence in Ohio and Pennsylvania.
• November 2020: The company announced a strategic alliance with West Virginia University to support entrepreneurship and innovation in the region.

2021

• January 2021: WesBanco reported record net income and earnings per share for 2020.
• March 2021: The company launched a new mobile banking platform, offering enhanced digital services to its customers.
• September 2021: WesBanco completed the acquisition of MNB Bancorp, significantly expanding its presence in Kentucky.
• November 2021: The company announced a collaboration with the University of Kentucky to develop a first-of-its-kind fintech innovation lab.

2022

• January 2022: WesBanco reported strong financial results for 2021, exceeding analyst expectations.
• March 2022: The company acquired My Community Bank, further solidifying its presence in West Virginia.
• June 2022: WesBanco announced plans to open a new operations center in Wheeling, West Virginia, to support its continued growth.
• September 2022: The company launched a new commercial real estate lending platform, expanding its product offerings to businesses.
• October 2022: WesBanco reported robust loan and deposit growth in the third quarter of 2022.
• November 2022: The company announced a partnership with the non-profit organization Restart West Virginia to provide financial literacy programs to underserved communities.

Recent Timelines

• December 2022: WesBanco was named the "2022 West Virginia Corporate Citizenship Award" winner by the West Virginia Chamber of Commerce.
• January 2023: The company announced the appointment of John Allison as its new Chief Financial Officer.
• February 2023: WesBanco released its 2022 annual report, highlighting its key financial and operational performance.

Exceptional Banking Experience with WesBanco

As a satisfied customer of WesBanco, I am delighted to share my positive experience with this exceptional financial institution.

Customer-Centric Focus: WesBanco's unwavering commitment to customer satisfaction is evident in every interaction. Their friendly and knowledgeable staff is always willing to go the extra mile to address my financial needs and concerns. They genuinely care about my well-being and provide personalized solutions that align with my goals.

Convenient and Innovative Services: WesBanco offers a comprehensive suite of banking products and services tailored to meet the diverse needs of its customers. Their user-friendly mobile banking app allows me to manage my finances seamlessly from the convenience of my phone. The ability to make deposits, transfer funds, and pay bills in real-time is incredibly valuable.

Financial Stability and Expertise: With a strong financial foundation and decades of industry experience, WesBanco inspires confidence in its customers. Their prudent financial management practices and conservative lending approach ensure the long-term stability and growth of my investments.

Community Involvement: WesBanco actively supports the communities it serves through various charitable initiatives and sponsorships. Their commitment to social responsibility demonstrates their genuine care for the well-being of their customers and the broader community.

Exceptional Value: WesBanco offers competitive interest rates and low fees, ensuring that my hard-earned money is put to optimal use. Their commitment to providing value to their customers sets them apart in the competitive banking landscape.

Overall Satisfaction: I highly recommend WesBanco to anyone seeking a reliable and customer-focused financial partner. Their exceptional service, innovative offerings, financial stability, community involvement, and value-driven approach have made them an invaluable asset to my financial well-being.

Unlock Your Financial Success with WesBanco: Join the Leading Financial Institution Today

Are you seeking a financial partner that understands your unique needs and empowers you to achieve your financial goals? Look no further than WesBanco, a trusted and reliable financial institution with a rich history of serving its customers.

Why Choose WesBanco?

• Local Expertise, Global Reach: WesBanco boasts a strong local presence with over 230 locations nationwide, offering personalized service and a deep understanding of your community's financial landscape.
• Comprehensive Financial Solutions: From checking and savings accounts to mortgages, loans, and investments, WesBanco offers a wide range of financial services to meet all your needs.
• Exceptional Customer Service: Our dedicated team is committed to providing you with the highest level of service, ensuring your financial journey is smooth and stress-free.
• Innovative Technology: WesBanco's user-friendly website and mobile apps offer convenient access to your accounts and financial tools, allowing you to manage your finances from anywhere, anytime.
• Strong Financial Performance: WesBanco is consistently recognized for its financial stability and industry-leading performance, giving you the confidence that your money is in good hands.

Join the WesBanco Family Today!

Visit our website at www.wesbanco.com to learn more about our services and discover how we can help you achieve your financial goals.

Benefits of Banking with WesBanco:

• Personalized Advice: Our financial advisors can provide tailored recommendations to help you navigate your financial journey.
• Competitive Rates and Low Fees: Enjoy attractive rates on savings accounts, mortgages, and loans, designed to maximize your earning potential.
• Digital Convenience: Manage your finances on the go with our user-friendly online and mobile banking platforms.
• Community Involvement: WesBanco is deeply committed to supporting our local communities through various initiatives and partnerships.

Unlock the Power of WesBanco:

• Visit www.wesbanco.com today to open an account and start your financial journey with the trusted experts at WesBanco.
• Schedule an appointment with a financial advisor to discuss personalized financial strategies.
• Download our mobile app for convenient access to your accounts and financial tools.

Don't settle for ordinary when you can experience the extraordinary. Join WesBanco, the financial partner that empowers you to achieve your financial dreams.

WesBanco, Inc.'s Main Suppliers and Upstream Service Providers

Technology and Data Processing

• Fiserv, Inc. (www.fiserv.com): Provides core banking and payment processing services.
• Jack Henry & Associates, Inc. (www.jackhenry.com): Delivers integrated banking and financial software solutions.
• NCR Corporation (www.ncr.com): Supplies point-of-sale (POS) systems, ATMs, and managed services.
• Equifax Inc. (www.equifax.com): Provides credit reporting and analytics services.
• Experian Information Solutions, Inc. (www.experian.com): Offers consumer credit reports and fraud detection services.

Insurance and Risk Management

• The Principal Financial Group, Inc. (www.principal.com): Provides retirement planning, life insurance, and investment products.
• Prudential Financial, Inc. (www.prudential.com): Offers life insurance, annuities, and investment management services.
• Marsh & McLennan Companies, Inc. (www.marsh.com): Provides insurance brokerage and risk management services.
• American International Group, Inc. (www.aig.com): Offers a wide range of insurance products, including property and casualty, life, and health.
• Berkshire Hathaway, Inc. (www.berkshirehathaway.com): Provides insurance underwriting, reinsurance, and investment management services.

Professional Services

• EY (www.ey.com): Offers accounting, tax, and consulting services.
• Deloitte LLP (www.deloitte.com): Provides audit, consulting, and tax services.
• KPMG LLP (www.kpmg.com): Offers audit, tax, and advisory services.
• PricewaterhouseCoopers LLP (www.pwc.com): Provides audit, tax, and consulting services.
• McKinsey & Company (www.mckinsey.com): Offers management consulting services.

Facilities and Equipment

• Cushman & Wakefield (www.cushmanwakefield.com): Provides commercial real estate services, including property management and brokerage.
• JLL (www.jll.com): Offers real estate services, including investment management, brokerage, and property management.
• CBRE Group, Inc. (www.cbre.com): Provides commercial real estate services, including leasing, sales, and property management.
• Siemens AG (www.siemens.com): Supplies electrical equipment, building automation systems, and other industrial products.
• Johnson Controls International plc (www.johnsoncontrols.com): Provides HVAC (heating, ventilation, and air conditioning) systems, fire safety equipment, and building management solutions.

Other Suppliers and Services

• Office Depot OfficeMax, Inc. (www.officedepot.com): Provides office supplies and equipment.
• FedEx Corporation (www.fedex.com): Offers shipping and logistics services.
• United Parcel Service, Inc. (www.ups.com): Provides shipping and logistics services.
• Verizon Communications Inc. (www.verizon.com): Provides telecommunications services, including voice, data, and internet.
• AT&T Inc. (www.att.com): Provides telecommunications services, including voice, data, and internet.

WesBanco, Inc. (Nasdaq: WSBC) is a bank holding company headquartered in Wheeling, West Virginia. The company has total assets of approximately $11.3 billion and operates 179 branches in West Virginia, Ohio, Pennsylvania, Kentucky, and Maryland.

WesBanco's main customers are individuals and small businesses. The company offers a variety of banking products and services, including checking and savings accounts, loans, and investment products. WesBanco also provides online and mobile banking services.

Here is a list of WesBanco's main customers by industry:

• Individuals: Individuals are WesBanco's largest customer base. The company offers a variety of banking products and services that are tailored to the needs of individuals, such as checking and savings accounts, loans, and investment products.
• Small businesses: Small businesses are another important customer base for WesBanco. The company offers a variety of banking products and services that are designed to meet the needs of small businesses, such as business loans, lines of credit, and cash management services.
• Nonprofit organizations: WesBanco also provides banking services to nonprofit organizations. The company offers a variety of products and services that are designed to meet the needs of nonprofit organizations, such as checking and savings accounts, loans, and investment products.

Here are some examples of WesBanco's main customers:

• Individuals: Individuals who bank with WesBanco include professionals, retirees, and students. The company also offers banking services to individuals who own small businesses.
• Small businesses: Small businesses that bank with WesBanco include retailers, manufacturers, and service providers. The company also offers banking services to small businesses that are owned by women and minorities.
• Nonprofit organizations: Nonprofit organizations that bank with WesBanco include churches, schools, and hospitals. The company also offers banking services to nonprofit organizations that are involved in the arts, culture, and education.

WesBanco is committed to providing its customers with excellent service and competitive products and services. The company is also committed to giving back to the communities it serves. WesBanco supports a variety of local charities and organizations.

For more information about WesBanco, please visit the company's website at www.wesbanco.com.

Key Revenue Streams of WesBanco

WesBanco is a regional financial services company headquartered in Wheeling, West Virginia. The company's primary revenue streams are:

1. Net Interest Income (NII)

• Estimated annual revenue: $345.8 million (2021)
• NII is the difference between the interest income earned on loans and investments and the interest expense paid on deposits and borrowed funds. It is the primary revenue source for WesBanco, accounting for approximately 70% of total revenue.

2. Non-Interest Income (NII)

• Estimated annual revenue: $137.9 million (2021)
• NII includes revenue from various sources, such as:
  • Service charges (e.g., account maintenance fees, ATM fees)
  • Trust and investment fees
  • Mortgage origination fees
  • Credit card interchange fees
  • Insurance premiums

Estimated Annual Revenue

For the fiscal year ended December 31, 2021, WesBanco reported total revenue of approximately $483.7 million. The breakdown of revenue streams was as follows:

• NII: $345.8 million
• NII: $137.9 million

Additional Information

In addition to these core revenue streams, WesBanco generates income from other sources, such as:

• Loan sales
• Gains on investments
• Other miscellaneous income

These sources generally contribute a relatively small percentage to WesBanco's overall revenue.

It's important to note that the estimated annual revenue figures are based on publicly available information and may vary slightly from the company's actual financial results.

Key Partners of WesBanco Bank

Insurance

• American National - https://www.americannational.com/
• Assurity - https://www.assurity.com/
• Brighthouse Financial - https://www.brighthousefinancial.com/
• Cigna - https://www.cigna.com/
• Humana - https://www.humana.com/
• Lincoln Financial Group - https://www.lfg.com/
• MetLife - https://www.metlife.com/
• Mutual of Omaha - https://www.mutualofomaha.com/
• Nationwide - https://www.nationwide.com/
• Prudential Financial - https://www.prudential.com/
• State Farm - https://www.statefarm.com/

Investment Services

• Edward Jones - https://www.edwardjones.com/
• LPL Financial - https://www.lpl.com/
• Raymond James Financial - https://www.raymondjames.com/
• Schwab - https://www.schwab.com/
• TIAA - https://www.tiaa.org/
• Vanguard - https://investor.vanguard.com/

Mortgage

• Fannie Mae - https://www.fanniemae.com/
• Freddie Mac - https://www.freddiemac.com/
• Ginnie Mae - https://www.ginniemae.gov/
• Mutual of Omaha Mortgage - https://www.mutualofomahamortgage.com/
• Quicken Loans - https://www.quickenloans.com/
• Rocket Mortgage - https://www.rocketmortgage.com/
• Wells Fargo Home Mortgage - https://www.wellsfargo.com/mortgage/

Technology

• Fiserv - https://www.fiserv.com/
• IBM - https://www.ibm.com/
• Microsoft - https://www.microsoft.com/
• Oracle - https://www.oracle.com/
• SAP - https://www.sap.com/

Other

• American Heart Association - https://www.heart.org/
• March of Dimes - https://www.marchofdimes.org/
• United Way - https://www.unitedway.org/
• West Virginia University - https://www.wvu.edu/
• WV Public Broadcasting - https://wvpublic.org/

Key Cost Structure of WesBanco

Interest Expense:

• Estimated annual cost: $622.3 million
• This is the largest cost component for WesBanco, accounting for approximately 43% of total expenses.
• Represents the interest paid on deposits, borrowings, and other debt obligations.

Personnel Expense:

• Estimated annual cost: $241.1 million
• Includes salaries, benefits, and payroll taxes for employees.
• Accounts for approximately 17% of total expenses.

Occupancy Expense:

• Estimated annual cost: $50.6 million
• Represents the cost of renting or owning facilities, including rent, utilities, and maintenance.
• Constitutes approximately 3.5% of total expenses.

Other Operating Expenses:

• Estimated annual cost: $374.4 million
• Includes a range of expenses, such as marketing, data processing, equipment leases, and professional fees.
• Accounts for approximately 26% of total expenses.

Amortization of Intangibles:

• Estimated annual cost: $31.4 million
• Represents the amortization of acquired intangible assets, such as goodwill and customer relationships.
• Constitutes approximately 2% of total expenses.

Depreciation Expense:

• Estimated annual cost: $30.3 million
• Represents the depreciation of tangible assets, such as buildings, equipment, and vehicles.
• Accounts for approximately 2% of total expenses.

Impairment Loss on Loans:

• Estimated annual cost: $21.2 million
• Reflects the impairment of loans that are considered uncollectible or unlikely to be fully repaid.
• Fluctuates based on economic conditions and loan portfolio composition.

Other:

• Estimated annual cost: $23.4 million
• Includes minor expense categories such as loss on sale of assets, dividend expense, and other charges.

Total Estimated Annual Cost:

$622.3 million + $241.1 million + $50.6 million + $374.4 million + $31.4 million + $30.3 million + $21.2 million + $23.4 million = $1,454.7 million

Sales Channels

WesBanco operates through the following sales channels:

• Retail Banking: This channel consists of physical branches and ATMs where customers can conduct their everyday banking transactions, such as deposits, withdrawals, and loan applications.
• Commercial Banking: This channel provides financial services to businesses, including loans, cash management, and treasury management.
• Mortgage Banking: This channel offers mortgage loans to individuals for the purchase or refinancing of residential properties.
• Investment Services: This channel provides wealth management and investment advisory services to individuals and institutions.
• Insurance Services: This channel offers insurance products, including life insurance, property insurance, and casualty insurance.

Estimated Annual Sales

WesBanco's estimated annual sales for each sales channel are not publicly disclosed. However, the company's total revenue for the fiscal year ended December 31, 2022, was $599.2 million. This revenue is generated from all of the company's sales channels combined.

Additional Information

• Geographic Distribution: WesBanco operates primarily in the Ohio Valley region, with a presence in West Virginia, Kentucky, Ohio, Pennsylvania, and Maryland.
• Customer Base: The company's customer base includes individuals, businesses, and institutions.
• Distribution Network: WesBanco's products and services are distributed through its network of branches, ATMs, and online banking platform.
• Sales Force: The company has a team of sales professionals who work with customers to provide financial solutions.
• Partnerships: WesBanco has partnerships with other financial institutions, such as insurance companies and mortgage lenders, to offer a wider range of products and services to its customers.

WesBanco's Customer Segments

WesBanco, a bank headquartered in Wheeling, West Virginia, serves customers throughout its footprint in West Virginia, Ohio, Pennsylvania, and Kentucky. The company's primary customer segments are:

1. Retail Banking Customers

• Individuals and families
• Estimated annual sales: $1.2 billion

Retail banking customers are the largest segment for WesBanco, accounting for a majority of its revenue. The company offers a range of retail banking products and services, including checking and savings accounts, loans, mortgages, and credit cards.

2. Commercial Banking Customers

• Small businesses and corporations
• Estimated annual sales: $450 million

Commercial banking customers are businesses of all sizes that use WesBanco for their banking needs. The company offers a range of commercial banking products and services, including business loans, lines of credit, and cash management services.

3. Wealth Management Customers

• High-net-worth individuals and families
• Estimated annual sales: $200 million

Wealth management customers are individuals and families with significant financial assets. WesBanco offers a range of wealth management services, including investment management, financial planning, and trust services.

4. Treasury and Capital Markets Customers

• Financial institutions, corporations, and government entities
• Estimated annual sales: $150 million

Treasury and capital markets customers are financial institutions, corporations, and government entities that use WesBanco for their treasury and capital markets needs. The company offers a range of treasury and capital markets products and services, including cash management, investment banking, and foreign exchange services.

Total Estimated Annual Sales: $2.0 Billion

It is important to note that these are estimated annual sales figures based on the available information. The actual sales figures may vary depending on economic conditions and other factors.

WesBanco's Value Proposition

WesBanco is a regional banking company headquartered in Wheeling, West Virginia. The company provides a full range of banking services to individuals and businesses in the Mid-Atlantic and Midwest regions. WesBanco's value proposition is based on the following key factors:

• Customer-centric focus: WesBanco is committed to providing exceptional customer service and building long-term relationships with its customers. The company's employees are passionate about helping customers achieve their financial goals.
• Community involvement: WesBanco is actively involved in the communities it serves. The company supports a variety of local organizations and initiatives, and its employees volunteer their time to make a difference in their communities.
• Financial strength: WesBanco is a financially strong company with a long history of profitability and growth. The company has a strong capital base and a conservative lending philosophy.
• Product diversity: WesBanco offers a comprehensive suite of banking products and services to meet the needs of its customers. The company offers personal and business banking, lending, wealth management, and insurance products.
• Convenience: WesBanco makes it easy for customers to do business with the company. The company has a network of over 100 branches and ATMs, and it offers online and mobile banking services.

Benefits of Banking with WesBanco

Customers who bank with WesBanco benefit from the following:

• Personalized service: WesBanco's employees take the time to get to know their customers and understand their financial needs. The company provides tailored financial solutions that help customers achieve their goals.
• Community support: WesBanco is committed to supporting the communities it serves. The company's customers can feel good about banking with a company that makes a difference in their community.
• Financial stability: WesBanco is a financially strong company with a long history of profitability and growth. Customers can be confident that their money is safe and secure with WesBanco.
• Product variety: WesBanco offers a comprehensive suite of banking products and services to meet the needs of its customers. Customers can find everything they need to manage their finances in one place.
• Convenience: WesBanco makes it easy for customers to do business with the company. The company has a network of over 100 branches and ATMs, and it offers online and mobile banking services.

Conclusion

WesBanco offers a compelling value proposition to its customers. The company's commitment to customer service, community involvement, financial strength, product diversity, and convenience make it a great choice for individuals and businesses looking for a banking partner.

WesBanco, Inc. (WSBC) is a financial holding company headquartered in Wheeling, West Virginia. It operates through three segments: Community Banking, Mortgage Banking, and Insurance. The company has approximately 250 branches and 325 ATMs in West Virginia, Ohio, Pennsylvania, and Kentucky.

Risks

Like any financial institution, WesBanco faces a number of risks, including:

Credit Risk: The risk that borrowers will default on their loans. This is a major risk for WesBanco, as a large portion of its loan portfolio is secured by real estate. A decline in real estate values could lead to an increase in loan defaults.

Interest Rate Risk: The risk that changes in interest rates will negatively impact the company's earnings. WesBanco is exposed to interest rate risk because it has a large portfolio of fixed-rate loans. If interest rates rise, the value of these loans will decline, which could lead to a decrease in earnings.

Liquidity Risk: The risk that the company will not be able to meet its financial obligations as they come due. WesBanco is exposed to liquidity risk because it has a large deposit base. If depositors withdraw their funds in large numbers, the company could be forced to sell assets at a loss to meet its obligations.

Operational Risk: The risk that the company will experience losses due to errors, fraud, or other operational problems. WesBanco is exposed to operational risk because it has a large number of branches and employees.

Reputation Risk: The risk that the company's reputation will be damaged by negative publicity or events. WesBanco is exposed to reputation risk because it is a publicly traded company.

Other Risks

In addition to the risks listed above, WesBanco also faces a number of other risks, including:

• Competition from other financial institutions
• Changes in the regulatory environment
• Economic downturns

Mitigating Risks

WesBanco takes a number of steps to mitigate the risks it faces, including:

• Maintaining a diversified loan portfolio
• Hedging its interest rate exposure
• Maintaining a strong liquidity position
• Investing in risk management systems
• Conducting regular stress tests

Overall

WesBanco is a well-managed financial institution with a strong risk management framework. However, the company does face a number of risks, including credit risk, interest rate risk, liquidity risk, operational risk, and reputation risk. Investors should be aware of these risks before investing in WesBanco.