Wesbanco, Inc. · NASDAQ:WSBC

Wesbanco — Non-Deal Roadshow (February 2006)

26 slides from Wesbanco's roadshow presentation, Feb 7, 2006

  1. Slide 1: Investor Meetings Boston

    Investor Meetings Boston February 7, 2006

  2. Slide 2: Corporate Profile

    CORPORATE PROFILE* NASDAQ: WSBC • Founded in 1870 • $4.4 billion in assets • Serving approximately: 172,000 deposit & 49,000 loan customers in 3 states • 85 offices, 2 LPO’s, & 124 ATM’s • $2.6 billion in trust assets • Market capitalization: $671million* • Average daily shares traded: 63,000 *As of

  3. Slide 3: Market Diversification

    MARKET DIVERSIFICATION 2002 2002 2004 2005

  4. Slide 4: WesBanco Market Demographics

    WESBANCO MARKET DEMOGRAPHICS* NEW MARKETS NEW MONTGOMERY, MARKET CLARK & GREENE HAMILTON WEST COUNTIES COUNTY VIRGINIA Dayton/Springfield, OH Cincinnati, OH Total Population * 1,808,344 851,690 845,303 (1) Median Income * $29,696 $41,663 $40,964 (1) Per Capita Income * $16,477 $21,590 $24,053 (2) Ma

  5. Slide 5: Loans & Deposits by State

    LOANS & DEPOSITS BY STATE (in millions) LOANS DEPOSITS WEST VIRGINIA $1,704 $1,929 NON­WEST VIRGINIA $1,231 $1,110 LOANS 9/30/2005 DEPOSITS 9/30/2005 NON NON WV WV WV 58% WV 37% 42% 63%

  6. Slide 6: WesBanco Business Model

    WESBANCO BUSINESS MODEL • 8 regional markets with a foundation based on strong customer relationships and quality service. • Each region has a regional president which reinforces WesBanco’s slogan of “By all accounts, better.” • Large bank features and services with a small community bank culture an

  7. Slide 7: Initiatives

    INITIATIVES • Restructuring – personnel savings of $0.07 per share going forward. • Company­wide telecommunications system initiative to reduce costs. • New products: retail overdraft product, business cash management. Focus on fee income in consumer and commercial lines. • Focus on cost reduction t

  8. Slide 8: Initiatives (continued)

    INITIATIVES (continued) • Branch sale ­ $2.4 million gain ($0.07 per share) to be realized 1st quarter 2006. • Winton cost savings (employee reductions achieved), FTE’s down from 1,358 to 1,200 at 12/31/2005. Additional personnel savings planned in first quarter 2006. • NIM fairly even over 6 quarte

  9. Slide 9: Initiatives (continued)

    INITIATIVES (continued) • Sale of $67mm in fixed rate mortgage loans to reduce NIM exposure to rising rates; reduction of securities portfolio due to compressed spreads and risk to rising rates – remix into commercial loans and paying down FHLB borrowings. • Trust fees up 10% YTD, insurance & securi

  10. Slide 10: Management Restructuring

    MANAGEMENT RESTRUCTURING • New Chief Operating Officer – Dennis Powell, formerly of UMB and Banc One. – New Branding Campaign and Marketing Strategy. – Branch Sales Incentive Programs to promote Free Checking, Consumer Loans and Trust / Insurance Referrals. – Strategic and Annual Business Plan Proce

  11. Slide 11: Interest Rate Risk

    INTEREST RATE RISK * Change in Interest Change in Net Interest Rates (basis pts.) Income from Base (1) (dollars in thousands) Amount Percent Up 200 Rate Ramp $ (535) ­0.38% Up 200 Rate Shock (5,325) ­3.80%­ Up 100 Rate Shock (1,982) ­1.42% Down 100 Rate Shock (518) ­0.37% (1) * As of December 31, 20

  12. Slide 12: 2005 4th Quarter Results

    2005 4th QUARTER RESULTS QTR.ENDED QTR.ENDED (dollars in thousands) 12/31/2005 12/31/2004 % CHG GAAP ­ Net income $ 10,549 $ 9,032 16.8% Core operating earnings (1) $ 10,549 $ 9,140 15.4% GAAP EPS ­ diluted $ 0.48 .$ 0.43 11.6% Core EPS ­ diluted (1) $ 0.48 $ 0.44 9.1% Return on assets 0.95% 0.92% 3

  13. Slide 13: 2005 Total Results

    2005 TOTAL RESULTS YTD YTD (dollars in thousands) 12/31/2005 12/31/2004 % CHG GAAP ­ Net income $ 42,757 $ 38,182 12.0% Core operating earnings (1) $ 43,675 $ 38,420 13.7% GAAP EPS ­ diluted $ 1.90 $ 1.90 0.0% Core EPS ­ diluted (1) $ 1.95 $ 1.91 2.1% Return on assets 0.95% 1.07% ­11.2% Return on eq

  14. Slide 14: Historical Peer Analysis – Balance Sheet

    Historical Peer Analysis – Balance Sheet Tangible Equity / Tangible Assets Consumer Loans / Total Loans 12.00% 30.00% 11.03% 11.00% 10.41% 28.29% 9.75% 25.00% 26.77% 27.29% 10.00% 24.01% 9.00% 8.21% 18.71% 8.08% 7.65% 8.04% 20.00% 18.21% 18.09% 8.00% 7.60% 7.35% 17.15% 17.43% 17.40% 7.94% 7.21% 18.3

  15. Slide 15: Historical Peer Analysis – Income Statement

    Historical Peer Analysis – Income Statement Return on Average Assets Return on Average Tangible Equity 1.30% 1.27% 20.00% 1.25% 1.25% 1.21% 17.54% 1.19% 18.00% 17.57% 1.20% 16.58% 16.51% 16.48% 1.23% 16.14% 1.15% 1.12% 1.18% 16.00% 1.07% 1.12% 14.18% 1.10% 1.12% 1.13% 1.05% 1.08% 14.00% 12.57% 14.58

  16. Slide 16: Shares Repurchased vs. Capital Levels

    SHARES REPURCHASED vs. CAPITAL LEVELS In thousands 1,600 12.00% 10.46% 1,400 9.75% 9.34% 8.76% 10.00% 10.41% 8.53% 8.46% 1,200 9.62% 8.00% 1,000 8.21% 7.69% 7.65% 800 6.00% 6.26% 600 4.00% 400 2.00% 200 ­ 0.00% 2000 2001 2002 2003 2004* 2005 Shares repurchased Tier I leverage Tangible equity * 2004

  17. Slide 17: Appendix

    APPENDIX • EPS • Dividends • Net charge­offs • Non­performing assets • Stock price • Trading liquidity

  18. Slide 18: Earnings Per Share

    EARNINGS PER SHARE $1.90 $1.90 $1.80 $1.70 $1.60 2001 2002 2003 2004 2005

  19. Slide 19: Dividends Per Share

    DIVIDENDS PER SHARE • 20 consecutive years $1.04 of dividend increases • Current dividend yield $1.00 approximating 3.4% $0.96 $0.94 $0.92 $0.90 $0.88 1999 2000 2001 2002 2003 2004 2005

  20. Slide 20: Net Charge Off Ratio

    NET CHARGE OFF RATIO In millions $3,500 NET CHARGE­OFFS TO AVERAGE LOANS 0.60% $3,000 0.50% 0.46% $2,500 0.31% 0.40% $2,000 0.29% $1,500 0.20% $1,000 $500 $0 0.00% 2002 2003 2004 2005 Total average loans Net charge­off percent

  21. Slide 21: Non-Performing Assets

    NON­PERFORMING ASSETS In thousands $14,000 0.40% 0.34% $12,000 0.30% 0.26% 0.24% 0.27% 0.27% 0.30% $10,000 $8,000 0.20% $6,000 $4,000 0.10% $2,000 $0 0.00% 2003 2004 1Q05 2Q05 3Q05 4Q05 Total Non­performing assets NPA's as a % of total assets

  22. Slide 22: Stock Price

    STOCK PRICE Stock Price $35 $31.97 $30.41 $30 $27.66 $25 $23.39 $21.13 $20 $15 $10 $5 $0 12/31/2001 12/31/2002 12/31/2003 12/31/2004 12/31/2005

  23. Slide 23: Improving Stock Liquidity

    IMPROVING STOCK LIQUIDITY Average daily shares traded – Source NASDAQ Online 63,000 29,578 27,419 24,370 2002 2003 2004 2005

  24. Slide 24: Linked Quarter Results

    LINKED QUARTER RESULTS In thousands $12,000 $0.60 $0.50 $0.48 $0.48 $10,000 $0.44 $0.50 $0.43 $8,000 $0.40 $11,258 $11,080 $10,549 $6,000 $0.30 $9,870 $9,032 $4,000 $0.20 $2,000 $0.10 $0 $0.00 12/31/2004 3/31/2005 6/30/2005 9/30/2005 12/31/2005 Net Income EPS­Diluted

  25. Slide 25: Reasons to Invest in WesBanco

    REASONS TO INVEST IN WESBANCO • Consistent growth in earnings per share • Above average dividend yield: 3.4%(1) • Acquisition­focused • Improving demographics & new markets • Improving credit quality • Strong stock performance (1) Annualized dividend rate of $1.04 per share based on 2/3/06 market pr

  26. Slide 26: Forward-Looking Disclosures

    FORWARD­LOOKING DISCLOSURES Forward­looking 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 informati

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