Wesbanco, Inc. · NASDAQ:WSBC
Wesbanco — Q1 2011 Earnings Presentation
15 slides from Wesbanco's earnings presentation, Apr 26, 2011
Slide 1: 1st Quarter 2011 Earnings Release
1st Quarter 2011 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: $5.4 billion • Founded in 1870 • 32 banks/23 companies acquired in 25 years • Banking operations in West Virginia, Ohio and Western Pennsylvania 112 banking offices + Pittsburgh Business Loan Office 126 ATM’s • Non-bank act
Slide 4: An Expanding Franchise in Contiguous Markets
An Expanding Franchise in Contiguous Markets: 112 banking offices • Ranked #1-3 in deposit market share in 15 counties out of 37* Springfield Columbus Wheeling • Expanding along major highways to Dayton population centers (Columbus, Dayton, Huntington Cincinnati) • Organized into seven markets * SNL
Slide 5: Summary – Income Statement ($ 000's)
Summary – Income Statement ($ 000’s) 3/31/11 12/31/10 9/30/10 6/30/10 3/31/10 Net Interest Income $41,476 $42,326 $41,986 $41,148 $40,633 Non-Interest Income $14,504 $14,997 $14,976 $14,585 $15,041 Non-Interest Expense $35,491 $35,511 $35,681 $34,567 $35,394 Provision for Credit Losses $8,041 $9,625
Slide 6: Net Interest Margin & Efficiency Ratio
Net Interest Margin & Efficiency Ratio Net Interest Margin Efficiency Ratio 3.80% 69.50% 3.70% Net Interest Margin Efficiency Ratio 68.00% 3.60% 66.50% 3.50% 65.00% 3.40% 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 1Q'11
Slide 7: ROAA: Pre-Tax, Pre-Provision, Pre-TARP
ROAA: Pre-Tax, Pre-Provision, Pre-TARP* 1.80% 1.71% 1.70% 1.67% 1.67% 1.59% 1.67% 1.60% 1.64% 1.50% 1.40% 4Q-09 1Q-10 2Q-10 3Q-10 4Q-10 1Q'11 *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 = $1.47 B • Average portfolio yield of 3.90% at 3/31/11. ~27.3% of total assets • WAL approx. 4.7 years, duration 3.5%. US Govt. Agencies • Over 54% unpledged. Mortgage- 24.6% • Minimal private label CMO’s, equities or corporate/ABS Backed & secu
Slide 10: Municipal Bond Portfolio Characteristics
Municipal Bond Portfolio Characteristics • Portfolio comprised of $487 million of tax exempts and taxable Build America Bonds. • Approximately 88% are local issuers. • G.O.’s are 73% of total; 27% revenue bonds. • 96% rated, with 76% rated AA (or its equivalent) or higher. Only 7.8% below A – all ar
Slide 11: Diversified Loan Portfolio
Diversified Loan Portfolio Total Portfolio Loans = $3.24 B Comm. Real Estate = Comm. & Ind. $1.74 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 3/31/11 12/31/10 9/30/10 6/30/10 3/31/10 Non-accrual loans $59,571 $48,820 $53,578 $65,083 $68,439 Renegotiated $36,636 $47,483 $35,532 $29,472 $29,188 loans NPA’s & Loans 90 Days Past $106,630 $112,055 $105,003 $105,449 $110,587 Due – ($ 000’s) NPA’s & Loans 90 Days Past 3.12
Slide 13: Non-GAAP Financial Measures
Non-GAAP Financial Measures Tangible equity to tangible assets 4Q’09 1Q’10 2Q’10 3Q’10 4Q’10 1Q’11 Total shareholders’ equity $ 588,716 $ 596,473 $ 604,714 $ 608,287 $ 606,863 $ 611,978 Less: goodwill & other intangible assets (288,292) (287,593) (286,908) (286,228) (285,559) (284,941) Tangible equi
Slide 14: Non-GAAP Financial Measures
Non-GAAP Financial Measures ROAA: Pre-tax, Pre-provision, Pre-TARP 4Q’09 1Q’10 2Q’10 3Q’10 4Q’10 1Q’11 Income before provision for income taxes $ 5,915 $ 8,780 $ 9,491 $ 9,503 $12,187 $12,448 Provision for credit losses 14,353 11,500 11,675 11,778 9,625 8,041 Taxable equivalent adjustment 1,725 1,61
Slide 15: WesBanco
WesBanco