WHEELING, W.Va., Feb. 17, 2017 /PRNewswire/ -- WesBanco, Inc. (Nasdaq: WSBC), a multi-state bank holding company with total assets of approximately $9.8 billion, announces that its affiliate, WesBanco Bank, has again been named to Forbes magazine's list of the Best Banks in America. The 2017 ranking is WesBanco's seventh year making the list since its inception in 2010.
"WesBanco is pleased to once again be named as one of America's best banks by a leading financial publication of Forbes' stature," said Todd F. Clossin, WesBanco President and Chief Executive Officer. "During our nearly 150 years, WesBanco has maintained its strong community banking roots and focus on customer service while emerging into a diversified and well-balanced financial services institution. This annual recognition is a testament to our strong legacy of credit and risk management; well-defined and well-executed strategies; and disciplined growth, balanced by expense management."
Mr. Clossin added, "2016 was another successful year for WesBanco that could not have been accomplished without the hard work and dedication of our entire organization. During the year, we entered two new markets and grew to $9.8 billion in assets through the completion of our latest acquisition. We maintained strong market share across five states, including our legacy West Virginia market as well as several major metropolitan areas. We remain committed to returning value to our shareholders through earnings and dividend growth. Lastly, we continue to receive national accolades for our performance, including recognition by Forbes as one of America's Best Banks."
Forbes magazine ranked banks based on ten, equally weighted metrics related to growth, profitability, capital adequacy, and asset quality based on regulatory filings for the period ending September 30, 2016. These metrics included 12-month operating revenue growth, return on average tangible equity, return on average assets, net interest margin, efficiency ratio, net charge-offs as a percent of total loans, nonperforming assets as a percent of assets, risk-based capital ratio, reserves as a percent of nonperforming assets, and the CET1 ratio.
About WesBanco, Inc.
Founded in 1870, WesBanco, Inc. (www.wesbanco.com) is a multi-state, bank holding company with total assets of approximately $9.8 billion (as of December 31, 2016). WesBanco is a diversified and well-balanced financial services institution, with a community bank at its core, built upon a strong legacy of credit and risk management. WesBanco has meaningful market share across its key geographies maintained by its commitment to dedicated customer service and solid fee-based businesses. It also provides wealth management services through a century-old trust and wealth management business, with more than $3 billion of assets under management, and serves as registered investment advisor to a proprietary mutual fund family, the WesMark Funds. WesBanco's banking subsidiary, WesBanco Bank, Inc., operates 174 financial centers in the states of Indiana, Kentucky, Ohio, Pennsylvania, and West Virginia. In addition, WesBanco operates an insurance agency, WesBanco Insurance Services, Inc., and a full service broker/dealer, WesBanco Securities, Inc.
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SOURCE WesBanco, Inc.