Wesbanco Inc's Business Segments

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 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 Inc. operates primarily in two distinct reportable segments: Community Banking and Trust and Investment Services. Below is an extensive description of both segments, outlining the products and services offered within each category.

Community Banking Segment

The Community Banking segment encompasses a range of traditional financial services aimed at both individual and commercial clients. This segment is structured around various core offerings:

1. Deposit Accounts:
- Commercial Demand Accounts: These accounts are designed for business clients, providing easy access to funds with capability for check writing, facilitating cash management in daily operations.
- Individual Demand Accounts: Often referred to as checking accounts, these accounts allow customers to easily deposit or withdraw funds and typically feature debit card access.
- Time Deposit Accounts (CDs): Also known as certificates of deposit, these accounts offer higher interest rates in exchange for committing funds for a fixed term.

2. Loan Products:
- Commercial Loans: Tailored for businesses, these loans can be used for a variety of purposes, including equipment financing, expansion, and working capital.
- Mortgage Loans: WesBanco provides a range of residential mortgage products, catering to homebuyers with options such as fixed-rate, adjustable-rate, and government-backed loans.
- Individual Installment Loans: These personal loans are available for various purposes, including debt consolidation, major purchases, or unexpected expenses.

3. Non-Traditional Offerings:
- Insurance Services: WesBanco collaborates with insurance partners to provide various insurance products, including life, property, and casualty insurance, enhancing their value proposition to customers.
- Securities Brokerage Services: The bank offers investment solutions through its brokerage services, enabling clients to invest in stocks, bonds, and other securities under professional guidance.

Trust and Investment Services Segment

The Trust and Investment Services segment is dedicated to providing a comprehensive suite of wealth management and fiduciary services. This segment features:

1. Trust Services:
- Estate Planning: WesBanco assists clients in managing their estate plans, ensuring that assets are distributed according to client wishes upon death while minimizing tax liabilities.
- Professional Trustee Services: Acting as a neutral third party, WesBanco can serve as a trustee for estates or trusts, managing assets according to the stipulated terms and safeguarding client interests.
- Custodial Services: These services involve the safekeeping of clients investment assets, ensuring secure storage and efficient management.

2. Investment Products:
- Alternative Investment Products: WesBanco offers clients access to a variety of investment solutions beyond traditional stocks and bonds, which may include hedge funds, private equity, and real estate investment trusts (REITs).
- Mutual Funds: Clients are provided with a selection of mutual fund options tailored to different risk profiles and investment objectives. These funds are managed by experienced portfolio managers and are designed to achieve specific investment outcomes.

3. Wealth Management:
- Investment Advisory Services: The banks investment professionals collaborate with clients to develop personalized investment strategies that aim to align with their financial goals, risk tolerance, and time horizon.
- Retirement Planning: WesBanco guides clients in preparing for retirement by providing advice on retirement accounts, pension options, and withdrawal strategies to ensure a sustainable income during retirement.

Summary

In summary, WesBanco Inc. caters to a diverse clientele through its two main segments, Community Banking and Trust and Investment Services. The Community Banking segment focuses on a wide array of traditional banking products and services to support both individual consumers and business clients. In contrast, the Trust and Investment Services segment emphasizes wealth management and fiduciary services. Collectively, these offerings enable WesBanco to provide comprehensive financial solutions tailored to diverse customer needs.