Wesbanco, Inc. · NASDAQ:WSBC
Wesbanco — Q3 2010 Earnings Presentation
14 slides from Wesbanco's earnings presentation, Oct 25, 2010
Slide 1: 3rd Quarter 2010 Earnings Release
3rd 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: $5.4 billion • Founded in 1870 • 32 banks/23 companies acquired in 25 years • Banking operations in West Virginia, Ohio and Western Pennsylvania 112 banking offices + Pittsburgh Business Loan Office 134 ATM’s • Non-bank act
Slide 4: An Expanding Franchise in Contiguous Markets
An Expanding Franchise in Contiguous Markets: 112 banking offices • Ranked #1-3 in deposit market share in 14 counties out of 37* Springfield Columbus Wheeling • Expanding along major highways to Dayton population centers (Columbus, Dayton, Huntington Cincinnati) • Organized into seven markets * SNL
Slide 5: Summary – Income Statement ($ 000's)
Summary – Income Statement ($ 000’s) 9/30/10 6/30/10 3/31/10 12/31/09 9/30/09 Net Interest Income $41,986 $41,148 $40,633 $40,565 $40,429 Non-Interest Income $14,976 $14,585 $15,041 $17,288 $18,555 Non-Interest Expense $35,681 $34,567 $35,394 $37,585 $37,705 Provision for Loan Losses $11,491 $11,675
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
Slide 7: Summary – Capital Ratios %
Summary – Capital Ratios % *See non-GAAP measures for additional information relating to the calculation of this item.
Slide 8: Securities Portfolio – Quality & Liquidity
Securities Portfolio – Quality & Liquidity Securities = $1.36 B • Average portfolio yield of 4.02% YTD. ~25% of total assets • WAL approx. 4 years. US Govt. • Over 54% unpledged. Agencies • Minimal private label CMO’s, 24.7% equities or corporate/ABS Mortgage- securities. Backed & CMOs, 42.1% • Net
Slide 9: Diversified Loan Portfolio
Diversified Loan Portfolio Total Loans = $3.32 B Comm. Real Estate = Comm. & Ind. $1.73 B 13% Consumer Const & Dev. 8% 13% Comm. Real Estate, 52% HELOC, 8% Investor- Owner- Owned Occupied 52% 35% Res. Real Estate, 19%
Slide 10: Summary – Loan Quality
Summary – Loan Quality 9/30/10 6/30/10 3/31/10 12/31/09 9/30/09 NPA’s & Loans 90 Days Past $105,003 $105,449 $110,587 $94,227 $98,802 Due – ($ 000’s) NPA’s & Loans 90 Days Past 2.91% 2.92% 2.99% 2.46% 2.57% Due - % Allowance for Loan Losses / 1.78% 1.92% 1.91% 1.76% 1.74% Total Loans - %
Slide 11: 3rd Quarter Loan Sale
3rd Quarter Loan Sale • $14.6 million loan sale completed before quarter-end: – Consists of $11.6 million CRE and $3.0 million commercial loans. – $13.2 million were non-accrual loans and $1.4 million were classified. – $5.4 million in previously provided reserves attributable to loans. – Net sale p
Slide 12: Questions?
Questions? Ee
Slide 13: Non-GAAP Financial Measures
Non-GAAP Financial Measures Tangible equity to tangible assets 2Q’09 3Q’09 4Q’09 1Q’10 2Q’10 3Q’10 Total shareholder’s equity $ 653,720 $ 592,335 $ 588,716 $ 596,473 $ 604,714 $ 608,287 Less: goodwill & other tangible assets (289,893) (289,087) (288,292) (287,593) (286,908) (286,228) Tangible equity
Slide 14: WesBanco
WesBanco