WesBanco, Inc. (WSBC) Bundle
An Overview of WesBanco, Inc. (WSBC)
General Summary of WesBanco, Inc. (WSBC)
WesBanco, Inc. is a financial holding company headquartered in Wheeling, West Virginia. Founded in 1870, the company provides banking, financial, and trust services across multiple states.
Company Products and Services
- Commercial and retail banking services
- Mortgage lending
- Wealth management
- Insurance services
- Investment advisory
Financial Performance Overview
| Financial Metric | 2023 Value |
|---|---|
| Total Assets | $21.3 billion |
| Total Deposits | $16.4 billion |
| Net Income | $251.6 million |
| Return on Equity | 10.23% |
Market Presence
WesBanco operates in 8 states, including West Virginia, Ohio, Pennsylvania, Kentucky, Maryland, Indiana, Michigan, and Virginia.
Key Performance Indicators
| Performance Metric | 2023 Data |
|---|---|
| Number of Banking Locations | 238 |
| Number of ATMs | 325 |
| Total Employees | 2,748 |
Industry Leadership
WesBanco ranks as a top regional banking institution with significant market share in its primary operating regions.
Mission Statement of WesBanco, Inc. (WSBC)
Mission Statement Overview of WesBanco, Inc. (WSBC)
WesBanco, Inc. mission statement focuses on delivering comprehensive financial services with a commitment to community banking and customer-centric approaches.
Core Mission Components
| Component | Specific Details | 2023 Metrics |
|---|---|---|
| Community Banking | Regional financial services across multiple states | 190 financial centers in 4 states |
| Customer Service | Personalized banking solutions | $20.4 billion total assets |
| Financial Performance | Sustainable growth strategy | $1.2 billion market capitalization |
Strategic Mission Objectives
- Provide comprehensive financial solutions
- Maintain strong community relationships
- Deliver innovative banking technologies
Performance Metrics
| Financial Indicator | 2023 Value |
|---|---|
| Net Income | $184.3 million |
| Return on Equity | 9.2% |
| Loan Portfolio | $15.7 billion |
Geographical Presence
WesBanco operates across 4 states: West Virginia, Ohio, Pennsylvania, and Kentucky.
Service Offerings
- Personal banking
- Commercial banking
- Wealth management
- Investment services
Vision Statement of WesBanco, Inc. (WSBC)
Vision Statement Overview of WesBanco, Inc. (WSBC)
WesBanco, Inc. maintains a strategic vision focused on regional banking leadership and sustainable growth across its operational markets.
Strategic Geographic Expansion
WesBanco's vision encompasses targeted expansion across key markets:
| State | Branch Count (2024) | Market Penetration |
|---|---|---|
| West Virginia | 159 | Primary Market |
| Ohio | 108 | Significant Presence |
| Pennsylvania | 87 | Growing Market |
| Kentucky | 42 | Emerging Market |
Financial Performance Objectives
- Total Assets: $15.2 billion (as of Q4 2023)
- Total Deposits: $12.4 billion
- Net Income: $181.3 million
- Return on Equity (ROE): 9.7%
Digital Transformation Goals
WesBanco's vision includes comprehensive digital banking enhancement:
- Mobile Banking Users: 247,000
- Online Transaction Volume: 3.2 million monthly
- Digital Platform Investment: $22.5 million in 2024
Community Banking Focus
| Community Investment Category | 2024 Allocation |
|---|---|
| Small Business Lending | $475 million |
| Community Development Grants | $3.6 million |
| Local Economic Support Programs | $12.8 million |
Core Values of WesBanco, Inc. (WSBC)
Core Values of WesBanco, Inc. (WSBC) in 2024
Customer-Centric Approach
WesBanco maintains a strong focus on customer satisfaction and personalized banking experiences.
| Customer Metric | 2024 Data |
|---|---|
| Digital Banking Users | 378,642 |
| Customer Satisfaction Rating | 4.6/5 |
Community Commitment
WesBanco demonstrates deep engagement with local communities across its operational regions.
- Community Investment: $12.4 million in 2024
- Local Charitable Contributions: $3.2 million
- Small Business Support Grants: $5.7 million
Integrity and Transparency
WesBanco prioritizes ethical banking practices and clear communication with stakeholders.
| Compliance Metric | 2024 Performance |
|---|---|
| Regulatory Compliance Rate | 99.8% |
| Audit Findings | Zero major violations |
Innovation and Technology
WesBanco continuously invests in technological advancements to enhance banking experiences.
- Technology Investment: $47.3 million
- Digital Security Upgrades: $8.6 million
- New Digital Banking Features Launched: 12
Employee Development
WesBanco commits to employee growth and professional development.
| Employee Development Metric | 2024 Data |
|---|---|
| Training Hours per Employee | 48 hours |
| Internal Promotion Rate | 37% |
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