WesBanco will redeem all 150,000 shares of its 6.75% Series A preferred stock at $1,000 per share, or $25 per depositary share, on November 15, 2025. The redemption will be funded by proceeds from a September 17, 2025 public offering of Series B preferred stock.
The move reduces the bank’s preferred equity base and is expected to improve its Common Equity Tier 1 (CET 1) and Tier 1 capital ratios. WesBanco has maintained strong capital ratios, with a CET 1 ratio of 9.99% at March 31, 2025, and the redemption is part of a broader capital‑management strategy that also includes the recent acquisition of Premier Financial Corp.
The Series B offering, completed on September 17, raised $230 million at $25 per share and carries a 7.375% dividend rate, higher than the 6.75% rate on Series A. By redeeming the lower‑rate Series A shares and using the Series B proceeds, WesBanco refines its capital structure and potentially reduces dividend obligations.
WesBanco’s third‑quarter 2025 earnings showed net income of $81.0 million and diluted EPS of $0.84, driven by the PFC acquisition and organic growth. Management highlighted strong loan growth and continued focus on community banking and trust services as key drivers of performance.
The redemption will also eliminate the Series A preferred equity from the balance sheet, simplifying the capital structure and providing more flexibility for future financing or strategic initiatives.
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