Wesbanco, Inc., a bank holding company incorporated in 1968 and headquartered
in Wheeling, West Virginia, offers a full range of financial services including
retail banking, corporate banking, personal and corporate trust services, brokerage
services, mortgage banking and insurance. WesBanco offers these services through
two reportable segments, community banking and trust and investment services.
WesBanco operated one commercial bank, Wesbanco Bank, Inc. (“WesBanco
Bank” or the “Bank”), through 141 offices, one loan production
office and 129 ATM machines located in West Virginia, Ohio, and western Pennsylvania.
WesBanco Bank also offers trust and investment services and various alternative
investment products including mutual funds and annuities. These assets are held
by WesBanco Bank in fiduciary or agency capacities for its customers and therefore
are not included as assets on WesBanco’s Consolidated Balance Sheets.
On February 10, 2015, WesBanco completed the acquisition of ESB Financial Corporation
(“ESB”), a Pennsylvania thrift holding company based in Ellwood
City, Pennsylvania. The transaction has expanded WesBanco’s franchise
in the Pittsburgh and western Pennsylvania region.
WesBanco offers additional services through its non-banking subsidiaries, WesBanco
Insurance Services, Inc. (“WesBanco Insurance”), a multi-line insurance
agency specializing in property, casualty, life and title insurance, with benefit
plan sales and administration for personal and commercial clients; and WesBanco
Securities, Inc. (“WesBanco Securities”), a full service broker-dealer,
which also offers discount brokerage services.
WesBanco Asset Management, Inc., which was incorporated in 2002, holds certain
investment securities and loans in a Delaware-based subsidiary.
WesBanco Properties, Inc. holds certain commercial real estate properties. The
commercial property is leased to WesBanco Bank and to certain non-related third
parties.
WesBanco has eight capital trusts which are all wholly-owned trust subsidiaries
formed for the purpose of issuing trust preferred securities (“Trust Preferred
Securities”) and lending the proceeds to WesBanco. For more information
regarding WesBanco’s issuance of trust preferred securities please refer
to Note 11, “Junior Subordinated Debt Owed to Unconsolidated Subsidiary
Trusts” in the Consolidated Financial Statements.
In connection with WesBanco’s acquisition of ESB on February 10, 2015,
WesBanco acquired ESB’s wholly owned subsidiary AMSCO, Inc., (“AMSCO”).
AMSCO engages in the management of certain real estate development and construction
of 1-4 family residential units through seven joint venture partnerships.
WesBanco Bank’s Investment Department also serves as investment adviser
to a family of mutual funds, namely the “WesMark Funds”. The fund
family is comprised of the WesMark Growth Fund, the WesMark Balanced Fund, the
WesMark Small Company Growth Fund, the WesMark Government Bond Fund, and the
WesMark West Virginia Municipal Bond Fund.