WHEELING, W.Va., Jan. 31, 2019 /PRNewswire/ -- WesBanco, Inc. (NASDAQ: WSBC), a diversified, multi-state bank holding company, announces that its affiliate, WesBanco Bank, has again been named to Forbes magazine's list of the Best Banks in America. The 2019 ranking is WesBanco's ninth year making the list since its inception during 2010.
"WesBanco is proud to have been again named one of the best banks in America by Forbes magazine," 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 the hard work and dedication of all our employees, our strong legacy of credit and risk management, and strategic focus to create a premier financial institution for our customers and shareholders."
Mr. Clossin added, "WesBanco had another successful year during 2018, as well as a year full of milestones. Solid execution upon our well-defined strategies and strong fundamentals drove record earnings and profitability. We continued to experience strength across key credit quality metrics as we balanced disciplined loan growth with our prudent lending standards. We strengthened our franchise by expanding into new and diversified markets with strong demographics, became a top ten financial institution in the state of Kentucky, and ensured top market share across all of our major markets. We remain well-positioned for continued success due to our well-defined operational and growth strategies."
Forbes magazine ranked the 100 largest publicly traded banks and thrifts by assets based on ten metrics related to growth, credit quality, and profitability from regulatory filings through September 30, 2018. These metrics include return on average tangible common equity, return on average assets, net interest margin, efficiency ratio, net charge-offs as a percentage of total loans, nonperforming assets as a percentage of assets, CET1 ratio, risk-based capital ratio, reserves as a percentage of nonperforming assets, and operating revenue growth.
About WesBanco, Inc.
Founded in 1870, WesBanco, Inc. (www.wesbanco.com) is a multi-state, bank holding company with total assets of approximately $12.5 billion (as of December 31, 2018). 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 approximately $4.3 billion of assets under management (as of December 31, 2018), and serves as registered investment advisor to a proprietary mutual fund family, the WesMark Funds. WesBanco's banking subsidiary, WesBanco Bank, Inc., operates 209 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.
SOURCE WesBanco, Inc.