WHEELING, W.V., June 29, 2016 /PRNewswire/ -- WesBanco Bank, the banking subsidiary of WesBanco, Inc. (NASDAQ: WSBC), has announced a Weather and Flood Damage Loan Program for residents and small business owners in an effort to assist West Virginia residents who have been affected or who may be affected by damage resulting from recent severe weather.
Qualified residents and business owners can apply immediately for a 5% APR fixed rate loan that can be repaid over a maximum 5-year period. Eligible applicants can borrow up to $5,000 per residence or business for any improvements or other items needed as a result of weather related damage. There will be no loan fees or closing fees on these loans. Approval of the loans will be subject to the bank's standard underwriting. Applications for Weather and Flood Damage Loans are now being taken by telephone or in person at any WesBanco location.
"The recent severe weather has already caused significant damage and created hardships for many of our customers, employees, neighbors and friends in West Virginia. The potential for additional flood damage exists as new storms are forecast for this week. Over the years we have supported our local communities with a wide variety of banking programs and have in the past offered Weather Damage Loan Programs and Flood Relief Loan Programs. I am pleased that WesBanco can once again provide assistance to our local communities for those residents and small business owners who have suffered weather and flood related damages with these very affordable loans. For example, the monthly payments for a $5,000, five-year loan would be $95.13," said David Sayre, WesBanco Market President of Kanawha Valley.
About WesBanco, Inc.
Founded in 1870, WesBanco, Inc. (www.wesbanco.com) is a multi-state, bank holding company with total assets of approximately $8.6 billion (as of March 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 141 financial centers in the states of 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.