WHEELING, W.Va. - WesBanco , Inc. (NASDAQ:WSBC), a multi-state bank holding company, announced the promotion of Jan Pattishall-Krupinski to Senior Executive Vice President and Chief Administrative Officer, effective immediately. Pattishall-Krupinski, who has been with WesBanco since 2011, will report directly to President and CEO Jeff Jackson.
In her elevated position, Pattishall-Krupinski is tasked with overseeing bank and loan operations, customer service, corporate strategy, and project management. The promotion is part of WesBanco's strategy to enhance its leadership framework in support of sustainable growth and to better align with the evolving needs of the business and its stakeholders.
Jeff Jackson, WesBanco President and CEO, acknowledged Pattishall-Krupinski's significant contributions to the company, highlighting her role in transformative initiatives such as multiple acquisitions, a core banking system overhaul, and advancements in technology and operations. He stated that her new role is crucial for integrating business operations with strategy at the executive level, which is vital for the company's success in a dynamic market.
Pattishall-Krupinski expressed her gratitude for the appointment, emphasizing her commitment to operational excellence, innovation, and improving customer experiences. Her background includes a Bachelor of Science in Marketing from Penn State University and completion of the Advanced Management Program at Harvard Business School. She also serves on several boards, including Crittenton Services, Leadership West Virginia, and The Junior League of Wheeling.
WesBanco, with a heritage spanning over 150 years, focuses on community-oriented financial services, ranging from retail and commercial banking to trust, brokerage, wealth management, and insurance services. As of September 30, 2024, the company reported total assets of $18.5 billion, with its Trust and Investment Services managing $6.1 billion in assets and securities account values of $1.9 billion.
Pattishall-Krupinski's promotion reflects WesBanco's dedication to leadership development and operational agility as it continues to serve communities across its eight-state footprint. This announcement is based on a press release statement from WesBanco, Inc.
In other recent news, WesBanco, Inc. announced a 2.8% increase in its quarterly cash dividend to $0.37 per share, marking the eighteenth hike since 2010. This decision follows WesBanco's recent earnings report, which surpassed expectations, reporting an operating EPS of $0.56 and a net income of $36.3 million. The company also experienced significant growth in loans and deposits and successfully raised $200 million in common equity.
In analyst news, Stephens increased the price target for WesBanco shares to $34.00, maintaining an Equal Weight rating. This adjustment follows WesBanco's stable net interest margin and the anticipated closing of the Premier Financial Corp. acquisition in the first quarter of 2025, which Stephens notes could accelerate WesBanco's earnings potential.
These recent developments indicate WesBanco's commitment to growth and operational efficiency. Despite a decrease in non-interest income due to a negative adjustment in swap fees, the company expects continued loan growth and a modest improvement in net interest margin. These updates provide investors with valuable insights into WesBanco's recent performance and future expectations.
InvestingPro Insights
WesBanco's recent leadership changes align with its strong financial performance and market position. According to InvestingPro data, the company boasts a market capitalization of $2.46 billion and a P/E ratio of 17.65, indicating investor confidence in its earnings potential.
The bank's commitment to shareholder value is evident in its dividend policy. An InvestingPro Tip reveals that WesBanco has raised its dividend for 14 consecutive years, demonstrating a consistent return to investors. This is particularly noteworthy given the company's impressive dividend yield of 4.06%, which is likely to attract income-focused investors.
WesBanco's stock has shown remarkable strength, with a 20.34% price total return over the past month and a substantial 42.94% return over the last year. Another InvestingPro Tip highlights that the stock is trading near its 52-week high, with the current price at 98.66% of that peak. This performance suggests that the market is responding positively to the company's strategic decisions, including the recent promotion of Jan Pattishall-Krupinski to Chief Administrative Officer.
For investors seeking a deeper understanding of WesBanco's potential, InvestingPro offers additional tips and insights. There are 8 more InvestingPro Tips available for WSBC, providing a comprehensive analysis of the company's financial health and market position.
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