City of Charleston Finance Committee Meeting Agenda March 16 2026
WesBanco to Provide Letter of Credit for City's Insurance
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Description
Charleston will enter an agreement with WesBanco, Inc. for a $705,000 Standby Letter of Credit as collateral for potential workers' compensation claims. Fees total $3,925 for the initial issuance.
Contract Details
Contract Amount
$3,925 (0.5% of $705,000 issued plus $400 fee)
Vendor
WESBANCO INC
Agency
City of Charleston, WV
Contract Type
FINANCIAL_SERVICES
Document Date
March 16, 2026
Contract Term
Starts March 31, 2026; term not specified
Renewal Info
Term begins March 31, 2026. Renewable depending on need for collateral extension; subject to legal review.
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