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WesBanco receives $75 million from federal program
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WHEELING, W.Va. - WesBanco Inc. has joined the ranks of financial institutions participating in the federal government's bank investment program.
Wheeling-based WesBanco said Friday it raised $75 million by selling preferred stock and warrants to buy more than 439,000 shares of common stock to the U.S. Treasury, which administers the program. The program is designed to make credit more available to help support the U.S. economy.
Chief Executive Paul Limbert says the extra capital will help WesBanco meet the financial needs of customers.
WesBanco operates in West Virginia, Ohio and Pennsylvania.
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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