Benzinga | Aug 26, 2021 04:19PM EDT

WesBanco, Inc. Announces Approval of a New Stock Repurchase Program To Purchase Up To An Additional 3.2M Shares Of Common Stock

WesBanco, Inc. ("WesBanco") (NASDAQ:WSBC), a diversified, multi-state bank holding company, announced that the Board of Directors has authorized the adoption of a new stock repurchase plan for the purchase of up to an additional 3.2 million shares of WesBanco common stock from time to time on the open market. This new stock repurchase authorization is in addition to the existing stock repurchase program approved by WesBanco's Board of Directors on April 22, 2021 which has approximately 0.6 million shares remaining for repurchase and will continue to be utilized until such authorization is completed. The combination of these two authorizations represents approximately 5.8% of the shares outstanding, as of June 30, 2021.

As permitted by securities laws and other legal requirements and subject to market conditions and other factors, the timing, price and quantity of purchases will be at WesBanco's discretion. The repurchase program does not obligate WesBanco to repurchase any minimum number of shares and may be modified, suspended, or discontinued at any time. Repurchases under the program may be effected through open market purchases, privately-negotiated transactions, block purchases, Rule 10b5-1 plans, or otherwise in accordance with applicable securities laws. Repurchases under this program may be funded from one or a combination of existing cash balances and other available liquidity sources. The stock repurchase plan is not subject to an expiration date.