EXHIBIT 99
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NEWS For Immediate Release
August 6, 2001 For Further Information Contact:
Edward M. George
President & CEO (304) 234-9208
Nasdaq Trading Symbol: WSBC
WesBanco Chief Executive Officer Announces His Retirement and Election of
Executive Officers
Wheeling, WV . . . . Edward M. George, President & CEO of WesBanco, Inc., a
multi-state bank holding company headquartered in Wheeling, West Virginia,
and its banking affiliate, WesBanco, Bank, Inc. has announced his retirement
effective August 8, 2001. Mr. George has served as President and CEO of
WesBanco, Inc. since January 1, 1993 and has served as President & CEO of
WesBanco Bank, Inc. since January 14, 2000. Mr. George's retirement marks
the conclusion of a prominent 35-year banking career that began in 1966 when
he accepted a position as a Bank Examiner with the Federal Reserve Bank of
Cleveland, Cleveland, Ohio.
As a result of Mr. George's retirement, the Board has elected two members of
the WesBanco management team to new executive management positions as well
as a new executive officer. The WesBanco Board of Directors has recently
elected Paul M. Limbert to succeed Mr. George as President & CEO of WesBanco,
Inc. and has elected Robert H. Young to succeed Mr. Limbert as Executive Vice
President and CFO of WesBanco, Inc. Mr. Limbert currently serves as Executive
Vice President and Chief Financial Officer of WesBanco, Inc. and Mr. Young
most recently served as Senior Vice President and Chief Financial Officer of
PNC Bank, F.S.B., a bank subsidiary of PNC Financial Services Group,
Pittsburgh, Pennsylvania. Kristine N. Molnar has been elected to succeed
Mr. George as President and CEO of WesBanco Bank, Inc. Mrs. Molnar currently
serves as President of the Upper Ohio Valley Region of WesBanco Bank,
Inc.
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Mr. George began his employment with WesBanco in 1983 when he was elected
Vice President of Wheeling Dollar Bank, the predecessor to WesBanco Bank, Inc.,
that later became part of WesBanco through a name change in 1991. Since that
time he has held the positions of Senior Vice President - Wheeling Dollar Bank
Vice President of WesBanco, Inc., President and COO and President and CEO of
WesBanco Bank Wheeling, Executive Vice President of WesBanco, Inc. and
Chairman of the Board of WesBanco Bank Wheeling. When WesBanco's four
regional banks were merged to form WesBanco Bank, Inc. in January 2000,
Mr. George was elected to the dual responsibility of holding the positions
of President & CEO of both WesBanco, Inc. and WesBanco Bank, Inc.
During his eight years as President & CEO of WesBanco, Mr. George has led the
company in growth from a $1 billion asset holding company with $1 billion in
assets under management in its Trust Department to its current status as a
$2.4 billion holding company with a $3.1 billion Trust Department. Since
1993, Mr. George has been responsible for growth through acquisitions that
have increased the number of WesBanco locations in West Virginia and Ohio
from 25 to 59. During his service with WesBanco, the company has frequently
been recognized for its strength and outstanding performance. Mr. George's
leadership has established WesBanco as a leader in the banking industry and
as one of the most profitable and best performing banks in the country.
Mr. George is a graduate of Washington & Lee University, Lexington, Virginia
where in 1958 he received a B.S. Degree in Commerce, with a major in Business
Administration. He is a lifelong native of the northern panhandle of West
Virginia having graduated from Wellsburg High School in Wellsburg, West
Virginia. His banking career also includes positions as President and CEO
of Wellsburg National Bank, which was acquired by WesBanco in 1985, and as
Senior Vice President of Half Dollar Trust & Savings Bank, now United National
Bank North.
Mr. George is an active member of the Wheeling community as well as an active
member of the banking community. He is currently a member of the Board of
Trustees of Bethany College, a member of the Board of Trustees and Secretary
of the Ohio Valley Health Services & Education Corp. and was recently elected
Chairman of the West Virginia Bankers Association. He is a past
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member of the West Virginia State Board of Banking and Financial Institutions,
Past Chairman of the Wheeling Area Chamber of Commerce, past President of Ohio
Valley Industrial & Business Development Corporation and a former member of
the Small Bank Advisory Council of the Federal Reserve Bank of Cleveland. He
is a member of Vance Memorial Presbyterian Church and a member of Kappa Alpha
Order Fraternity.
Mr. George and his wife Sandra are the parents of three sons: Edward M.
George, III, a graduate of Washington & Lee University and West Virginia
University Law School, Lt. Cmdr. Thomas F. George, a graduate of the U.S.
Naval Academy and David A. George, a graduate of Bethany College; and two
grandchildren, Mason and Grace.
Mr. George has been elected to the position of Vice Chairman of WesBanco, Inc.
and will remain on its Board of Directors and Executive Committee.
Mr. Limbert brings 23 years of experience with WesBanco to his position as
President & CEO of the holding company. Since being elected Executive Vice
President and Chief Financial Officer in 1993, Mr. Limbert has served in the
additional capacities of Senior Lending Officer for WesBanco and as President
and Chief Executive Officer WesBanco Bank Wheeling. Prior to joining WesBanco,
Mr. Limbert, a Certified Public Accountant, was employed by Price Waterhouse,
Pittsburgh, Pennsylvania where he had achieved senior designation responsible
for day-to-day supervision of audit engagements in the steel and financial
services industries and the not for profit sector.
Mr. Limbert is a graduate of Lycoming College, Williamsport, Pennsylvania.
Since joining WesBanco, Mr. Limbert has been an active member of the Wheeling
community and the business community. He currently serves as Treasurer of
Vance Memorial Church, serves as an executive committee and board member of
the Wheeling Area Chamber of Commerce, serves as a board member of the Ohio
Valley Industrial Business Development Corporation and is a member of the
Tax Committee of West Virginia Banker's Association. He is a past Treasurer
and board member of Wheeling Country Club and a past Treasurer and President
of the Wheeling Symphony Society.
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Mr. Limbert and his wife, Louise, are the parents of two children, Susan
and Michael.
Mr. Young comes to WesBanco with more than 15 years of banking experience,
most recently with PNC of Pittsburgh. Before joining PNC, Mr. Young had held
executive positions for First Western Bancorp, Inc., New Castle, Pennsylvania,
where he had served as Executive Vice President - Chief Financial Officer,
Secretary and Treasurer, Senior Vice President - Finance, Secretary and
Treasurer, Vice President - Finance, Secretary and Treasurer and as Vice
President and Controller.
Prior to his employment with First Western Bancorp, Mr. Young had served as
Manager - Taxes and Auditing for the Heckett Division of Harsco, Butler,
Pennsylvania and previously served as a Senior Accountant with Coopers and
Lybrand, now part of PricewaterhouseCoopers, Pittsburgh, Pennsylvania. Mr.
Young achieved his Certified Public Accountant designation in 1980 and is a
member of the Pennsylvania Institute of Certified Public Accountants and
the American Institute of Certified Public Accountants.
Mr. Young is a Magna Cum Laude graduate of Grove City College, Grove City,
Pennsylvania, where he received the PICPA Award for Excellence in Accounting
Studies. He has been active in the banking field serving the Pennsylvania
Bankers Association as a member of its Governing Council, Community Bankers
Council and as a Group Officer. He has served as a member of the American
Bankers Council of the American Bankers Association and is a current member
of the Financial Executives Institute, Pittsburgh Chapter.
Mr. Young has been active in the Butler, Pennsylvania community having served
the Center Township Athletic Association and the Butler Area School District.
Mr. Young and his wife Susan are the parents of three children, Alaina, Daniel
and Bryant.
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Mrs. Molnar has served as the President of the Upper Ohio Valley Region of
WesBanco Bank, Inc. since 1997. Prior to being elected to lead the northern
region of the bank, Mrs. Molnar had served WesBanco as Senior Vice President,
Vice President-Commercial/Mortgage Loans, Assistant Vice President and as
Banking Officer, when she joined the company in June 1984. Prior to joining
WesBanco, Mrs. Molnar had worked for 11 years in the banking industry
serving as Assistant Vice President for Half Dollar Bank, Wheeling, West
Virginia and as a Loan Administrator for United American Bank, Nashville,
Tennessee.
Mrs. Molnar is a graduate of Peabody College, Nashville, Tennessee where she
received a B.S. in 1972. She has completed advanced studies in the banking
field having graduated from the Mellon Commercial Lending School, the
National Commercial Lending School and the National Commercial Lending
Graduate School, where she graduated with distinction. Mrs. Molnar's
commitment to the banking community is illustrated by the effort she has
made to provide continuing education to fellow bankers. Between 1993 and 1999,
she served as an Instructor for the West Virginia Bankers Association West
Virginia School of Banking, served as a Fellow of the West Virginia School
of Banking and served as a Trustee of the West Virginia School of Banking.
Mrs. Molnar's professional activities in the banking industry include her
present position as a Director of the Pittsburgh Branch of the Federal
Reserve Bank of Cleveland and her recent position as a member of the
Federal Reserve Bank of Cleveland Community Bank Advisory Council. Her
community activities include serving as a board member for the Home for Men
and as a board and executive committee member on both the OVIBDC & Linsly
School. She is a board member and the Treasurer of both Oglebay Institute
and the Ohio Valley Medical Center. She is a past board member of the
Wheeling Area Chamber of Commerce.
Mrs. Molnar is a native of Wheeling and resides there with her husband Doug
and daughter Anne.
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WesBanco is a multi-state bank holding company presently operating through
59 banking offices in the States of West Virginia and Ohio. Its principal
subsidiaries include WesBanco Bank, Inc., an insurance company, WesBanco
Insurance Services and WesBanco Securities, Inc., a full service broker/dealer
that also operates Mountaineer Securities, WesBanco's discount brokerage
operation.
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