WHEELING, W.Va., May 31, 2018 /PRNewswire/ -- WesBanco, Inc. (Nasdaq: WSBC), a diversified, multi-state bank holding company, today announced that the Western Pennsylvania market and staff of its affiliate, WesBanco Bank, were recently recognized for their community banking and Community Reinvestment Act efforts. During its annual Community Development Summit, Pittsburgh Community Reinvestment Group ("PCRG") bestowed upon WesBanco three of six awards for mortgage loan origination efforts across Western Pennsylvania. PCRG bases the awards on the percentage of total mortgage loan originations given to the categories of low- and moderate-income borrowers and African-American borrowers across the entire metropolitan area.
WesBanco Bank received two community banking awards. The first was in the African-American Lending Category for the highest percentage of total originations made to African-American borrowers by a large bank. The second was in the Low- and Moderate-Income Lending Category for the highest percentage of total originations made to low- and moderate-income borrowers by a large bank. In addition, Lynda Wargo, a Mortgage Loan Officer for WesBanco, was personally recognized in the large bank category for her dedication to the Community Reinvestment Act, which has significantly impacted the quality of life for low- and moderate-income individuals and communities.
"WesBanco is proud that its staff has been recognized for their efforts to promote and facilitate the goal of home ownership across all segments of the communities we serve, especially in low- and moderate-income areas," said Michael Mooney, WesBanco Market President for Western Pennsylvania. "We are pleased that our efforts to support these communities were recently recognized by PCRG, as these awards are the result of the tireless effort and dedication of the entire WesBanco organization. WesBanco has had a long and productive relationship with Pittsburgh Community Reinvestment Group as we together focus on the wide-ranging demands of the modern community and economic development."
Joseph P. Flynn, Jr., Senior Vice President Community Development, stated, "During our nearly 150 years, WesBanco has maintained its strong community banking roots and commitment to the success of the communities in which we do business. The commitment our employees have demonstrated through their continuous focus on the needs of our communities is a testament to our support for the spirit of the Community Reinvestment Act."
About WesBanco, Inc.
Founded in 1870, WesBanco, Inc. (www.wesbanco.com) is a multi-state, bank holding company with total assets of approximately $10.2 billion (as of March 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 $4.0 billion of assets under management (as of March 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 177 financial centers (including the five locations of First Sentry Bancshares, acquired on April 5, 2018) 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.