How Is WesBanco Different From Other Banks?
WesBanco is more than just another big bank. A regional financial institution with a national reputation for safety and profitability, WesBanco boasts a rich history of community support along with a reputation for personalized service, innovative technology and other qualities that customers, investors and employees value. Learn more about what sets this 150-year-old bank apart from its competition.
It Has Strong Community Roots
Founded and headquartered in Wheeling, West Virginia, in 1870, WesBanco has long been committed to the community it calls home. It still operates under the same charter that was originally issued to "The German Bank," WesBanco’s original name, when it opened its doors. Through the years, the bank has merged with other regional banks, strengthening its ability to take an active role in bolstering the region. Despite growing to more than 200 financial centers spread across multiple states, WesBanco remains dedicated to its customers and the communities it serves.
Case in point: Its affiliate, WesBanco Bank Community Development Corporation, notably backs and serves as a resource for urban and rural areas alike. During the COVID-19 pandemic, the bank pledged grants totaling $350,000 to help support health clinics, food banks, shelters and other nonprofits located in its communities.
Forbes Ranks It Among the Best Banks in the Country
For more than a decade, Forbes magazine has published an annual ranking of the 100 best banks in the United States. To come up with the list, data from S&P Global Market Intelligence is combined with a variety of metrics, including return on average assets, efficiency ratio and net charge-offs as a percentage of total loans, among others.
WesBanco has made the list every year and, in 2020, made its debut in the top 10. As WesBanco President and CEO Todd F. Clossin noted in the 2020 press release, "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." That commitment and continual drive to achieve satisfaction is an integral part of what sets WesBanco apart from others in the industry.
Its Sister Company Is All About Investments
Do you want a financial institution that can handle everything from checking accounts and credit cards to mortgages and investments? WesBanco offers a robust lineup of services, including investing via WesBanco Securities, which combines new technologies with personalized service to deliver financial consulting, retirement planning, brokerage services and more.
Although investors are still liable for natural fluctuations and losses due to market conditions, securities of up to $500,000 are backed by the Securities Investment Protection Corporation against physical loss if the brokerage firm itself goes bankrupt. Products and services include college funding plans, business retirement plans and personal retirement planning. WesBanco Securities also offers investment products like municipal bonds, equities, money market funds and mutual funds.
It Offers Unique Mortgage Options
Plenty of banks offer mortgages, but fewer offer the variety and unique nature of the loan types available to WesBanco customers — the bank strives to go beyond conventional loans to fit the needs of its customers. For example, in addition to offering Federal Housing Administration (FHA) and U.S. Department of Veterans Affairs (VA) loans, the State Bond Program helps low- and moderate-income customers become first-time home buyers. The special Professional's Mortgage Loan Program allows attorneys, dentists, doctors and similar professionals to forego private mortgage insurance and keep down payments to as little as 10%.
Government-insured U.S. Department of Agriculture (USDA) Rural Development Loans, which are open for buyers looking to get property in rural areas and small communities outside of cities, don't require down payments and boast added flexibility for people with lower credit scores. The Physician Mortgage Loan, which provides as much as 95% financing and doesn't require private mortgage insurance, is specifically designed to encourage doctors to establish homes in their communities. Offering tailored financial products in this manner is part of WesBankco’s commitment to personalized support and one of the features that truly sets it apart.