WHEELING - WesBanco Inc. has received its fifth consecutive "Outstanding" rating for its Community Reinvestment Act performance for 2010-12 from the Federal Deposit Insurance Corporation, the company announced.
The award is the highest rating from federal regulators.
"WesBanco is proud to have the efforts of its staff recognized by the Outstanding rating," Paul M. Limbert, president and CEO, said. "In today's challenging economic environment, it has become even more important for banks to fulfill their commitments under the CRA, to return vital capital to all segments of the communities we serve, especially in low- and moderate-income areas, and to ensure small businesses receive the funding they need to stay competitive and to keep Americans working."
The FDIC's examination of WesBanco Bank dated July 8 measured performance in meeting community credit needs. In 2012, 8.2 percent of banks in the U.S. examined for compliance with the CRA received an Outstanding rating on its federal examination.
Through October, only 4.9 percent of banks achieved this rating, Limbert said.
"This rating is the result of the effort and dedication of the entire WesBanco staff and organization," Joe Flynn, senior vice president for community development at the bank, said. "Our ability to remain focused on the needs of our communities and to provide products, programs and services to meet those needs, while expanding into new market areas and growing our primary business, is a testament to our Bank's commitment to the spirit of the Community Reinvestment Act."
WesBanco is a multi-state bank holding company of $6.1 billion in total assets providing banking services through 119 locations and 105 ATMs in West Virginia, Ohio and Pennsylvania.