Old Line Bank to Become WesBanco

February 9, 2020

On February 22, 2020 Old Line will fully integrate their services under WesBanco.

Former branches of Old Line will continue to operate under the Old Line Bank name until the data conversion, when they will be transitioned to WesBanco Bank in conjunction with the data processing and signage conversion.  Prior to the merger with WesBanco, Old Line operated 37 branches across Maryland.

WesBanco Bank, has again been named to Forbes magazine’s list of the Best Banks in America.  The 2020 ranking is WesBanco’s tenth year making the list since its inception during 2010, and the first time in the top ten – coming in as the 7th best bank.

“WesBanco is proud to have been again named one of the ten best banks in America by Forbes magazine,” said Todd F. Clossin, WesBanco President and Chief Executive Officer. “This financial-based ranking follows our earning the #7 ranking in the United States in the inaugural ranking of the World’s Best Banks, which was based on customer satisfaction and consumer feedback. During our 150 years, WesBanco has maintained its strong community banking roots and focus on customer service while evolving into a diversified and well-balanced financial services institution. This annual recognition is a testament to the hard work and dedication of all our employees, our strong legacy of credit and risk management, and strategic focus to create a premier financial institution for our customers and shareholders.”

Mr. Clossin added, “WesBanco had another successful year during 2019 – one that was full of milestones. Solid execution on our strategies, combined with strong fundamentals, allowed us to generate record annual earnings and maintain positive key credit quality metrics. We strengthened our franchise by expanding into the dynamic Mid-Atlantic market with strong deposit market share in the fast growing Baltimore and Washington D.C. MSAs, as well as crossing $15 billion in total assets. In addition, as a testament to our community focus, WesBanco Bank earned its seventh consecutive ‘Outstanding’ Community Reinvestment Act rating from the FDIC. Lastly, we continue to believe we are well-positioned for long-term success.”

Forbes magazine ranked the 100 largest publicly-traded banks and thrifts by assets based on ten metrics related to growth, credit quality, and profitability from regulatory filings through September 30, 2019. These metrics include return on average tangible common equity, return on average assets, net interest margin, efficiency ratio, net charge-offs as a percentage of total loans, nonperforming assets as a percentage of assets, CET1 ratio, risk-based capital ratio, reserves as a percentage of nonperforming assets, and operating revenue growth.

15 Responses to Old Line Bank to Become WesBanco

  1. Anonymous on February 9, 2020 at 3:07 am

    Did they catch the burgler of the bank? Any photographs or tips yet?

  2. J Lathos-M on February 9, 2020 at 7:11 pm

    Why didn’t they mention that once your accounts are transitioned to WesBanco you have to maintain a monthly checking account balance of $1,000.00 to avoid a $5.00 monthly service charge? For a savings account, you must maintain a $2,500.00 monthly balance to avoid a $10.00 monthly service charge. In other words, if you don’t maintain $1,000 a month it will cost you $60.00 a year for a checking account; $120.00 for a savings account. Before, Old Line was happy to have you as a customer.

    • Anonymous on February 10, 2020 at 7:46 am

      Some banks have these fees and service charges. Switch to one that doesn’t.

    • Always use a credit union on February 10, 2020 at 9:21 am

      …and that, sports fans, is why credit unions are better. Those minimums are much lower.

    • Anonymous on February 10, 2020 at 10:54 am

      If you read the paperwork sent out – you can avoid the fees if you go with the monthly paperless statement option.

    • Stingey on February 10, 2020 at 2:10 pm

      I’m sorry but truly if you can’t maintain 2500 in your savings then you don’t deserve to have a bank account.

      • I can't possibly roll my eyes anymore on February 11, 2020 at 8:59 am

        You must miss out on so much of what life has to offer by chasing that dollar. Not everyone has the ability to keep that much in a savings account. Hope you fall off that high horse.

        • Still on it on February 12, 2020 at 12:20 pm

          2500? I used to save that in a summer of mowing lawns.

      • Anonymous on February 11, 2020 at 1:56 pm

        If you are keeping your money in a savings account vice investing in mutual funds, you are doing it wrong.

        • Doh told you! on February 12, 2020 at 12:18 pm

          Keep six months expenses in savings, couple months expenses in cash, and then dump the rest to your company’s 401k/retirement plan. On your own you should at a minimum be investing in a Roth IRA.

      • Anonymous on February 12, 2020 at 6:01 pm

        Some people don’t make enough money to have to do this
        Its discrimination

  3. Charles on February 9, 2020 at 8:09 pm

    At least Old Line was personable with their customers, from what I hear Wesbanco is very cold

    • bobaloo on February 10, 2020 at 11:18 am

      But at least they’ll have a presence in L’town, unlike that too big to bother bank which recently left.

      • Charles on February 10, 2020 at 7:03 pm

        Yeah, a cold presence.

  4. student of G. Edward Griffin on February 11, 2020 at 7:54 pm

    could we bring back us notes, too, please? these federal reserve notes are nothing but passing debt around, all day long. the us doesn’t own its own currency, it borrows it. whats the difference? federal reserve notes are nothing but debt, us notes are redeemable for gold or silver.