Wesbanco, Inc. · NASDAQ:WSBC
Wesbanco — Q4 2010 Earnings Presentation
15 slides from Wesbanco's earnings presentation, Jan 26, 2011
Slide 1: 4th Quarter 2010 Earnings Release
4th Quarter 2010 Earnings Release
Slide 2: Forward-Looking Statements
Forward-Looking Statements Forward-looking statements in this presentation relating to WesBanco’s plans, strategies, objectives, expectations, intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The informatio
Slide 3: WesBanco at a Glance
WesBanco at a Glance • Headquarters in Wheeling, West Virginia • Assets: $5.4 billion • Founded in 1870 • 32 banks/23 companies acquired in 25 years • Banking operations in West Virginia, Ohio and Western Pennsylvania 112 banking offices + Pittsburgh Business Loan Office 132 ATM’s • Non-bank act
Slide 4: An Expanding Franchise in Contiguous Markets
An Expanding Franchise in Contiguous Markets: 112 banking offices • Ranked #1-3 in deposit market share in 14 counties out of 37* Springfield Columbus Wheeling • Expanding along major highways to Dayton population centers (Columbus, Dayton, Huntington Cincinnati) • Organized into seven markets * SNL
Slide 5: Summary – Income Statement ($ 000's)
Summary – Income Statement ($ 000’s) 12/31/10 9/30/10 6/30/10 3/31/10 12/31/09 Net Interest Income $42,326 $41,986 $41,148 $40,633 $40,565 Non-Interest Income $14,997 $14,976 $14,585 $15,041 $17,288 Non-Interest Expense $35,511 $35,681 $34,567 $35,394 $37,585 Provision for Credit Losses $9,625 $11,7
Slide 6: Net Interest Margin & Efficiency Ratio
Net Interest Margin & Efficiency Ratio Net Interest Margin Efficiency Ratio 3.70% 69.50% Net Interest Margin 3.60% Efficiency Ratio 68.00% 3.50% 66.50% 3.40% 65.00% 3.30% 63.50% 3.20% 62.00% 3.10% 60.50% 3.00% 59.00% 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10 3Q'10 4Q'10
Slide 7: ROAA: Pre-Tax, Pre-Provision, Pre-TARP
ROAA: Pre-Tax, Pre-Provision, Pre-TARP* 1.80% 1.71% 1.70% 1.67% 1.63% 1.64% 1.67% 1.60% 1.59% 1.50% 1.40% 3Q-09 4Q-09 1Q-10 2Q-10 3Q-10 4Q-10 *See non-GAAP measures for additional information relating to the calculation of this item.
Slide 8: Summary – Capital Ratios %
Summary – Capital Ratios % *See non-GAAP measures for additional information relating to the calculation of this item.
Slide 9: Securities Portfolio – Quality & Liquidity
Securities Portfolio – Quality & Liquidity Securities = $1.43 B • Average portfolio yield of 3.92% at 12/31/10. ~26.6% of total assets • WAL approx. 4.4 years. US Govt. • Over 55% unpledged. Agencies • Minimal private label CMO’s, 25.5% equities or corporate/ABS Mortgage- securities. Backed & CMOs,
Slide 10: Municipal Bond Portfolio Characteristics
Municipal Bond Portfolio Characteristics • Portfolio comprised of $470 million of tax exempts and taxable Build America Bonds. • Approximately 88% are local issuers. • G.O.’s are 74% of total; 26% revenue bonds. • 96% rated, with 76% rated AA (or its equivalent) or higher. Only 8.2% below A – all ar
Slide 11: Diversified Loan Portfolio
Diversified Loan Portfolio Total Portfolio Loans = $3.29 B Comm. Real Estate = Comm. & Ind. $1.76 B 13% Const & Dev. Consumer 9% 8% Comm. Real Estate, 53% HELOC, 8% Investor- Owner- Owned Occupied 57% 34% Res. Real Estate, 18%
Slide 12: Summary – Loan Quality
Summary – Loan Quality 12/31/10 9/30/10 6/30/10 3/31/10 12/31/09 Non-accrual loans $48,820 $53,578 $65,083 $68,439 $65,273 NPA’s & Loans 90 Days Past $112,055 $105,003 $105,449 $110,587 $94,227 Due – ($ 000’s) NPA’s & Loans 90 Days Past 3.16% 2.91% 2.92% 2.99% 2.46% Due - % Allowance for Loan Losses
Slide 13: Non-GAAP Financial Measures
Non-GAAP Financial Measures Tangible equity to tangible assets 3Q’09 4Q’09 1Q’10 2Q’10 3Q’10 4Q’10 Total shareholder’s equity $ 592,335 $ 588,716 $ 596,473 $ 604,714 $ 608,287 $ 606,863 Less: goodwill & other intangible assets (289,087) (288,292) (287,593) (286,908) (286,228) (285,559) Tangible equi
Slide 14: Non-GAAP Financial Measures
Non-GAAP Financial Measures ROAA: Pre-tax, Pre-provision, Pre-TARP 3Q’09 4Q’09 1Q’10 2Q’10 3Q’10 4Q’10 Income before provision for income taxes $ 5,079 $ 5,915 $ 8,780 $ 9,491 $ 9,503 $12,187 Provision for credit losses 16,200 14,353 11,500 11,675 11,778 9,625 Taxable equivalent adjustment 1,936 1,7
Slide 15: WesBanco
WesBanco