Wesbanco, Inc. · NASDAQ:WSBC
Wesbanco — Shareholder Meeting (April 2008)
16 slides from Wesbanco's shareholder meeting presentation, Apr 16, 2008
Slide 1: Annual Meeting of Stockholders
Exhibit 99.1 Annual Meeting of Stockholders April 16, 2008
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: Corporate Profile
Corporate Profile Founded in 1870 in Wheeling, WV $5.4 billion in assets Over 30 acquisitions in past 25 years Three state presence; two bank charters 112 full-service banking offices, 2 loan production office & 147 ATMs Securities brokerage, insurance, proprietary mutual fund family 3
Slide 4: WesBanco Stock Profile
WesBanco Stock Profile NASDAQ Global Stock Market: WSBC Market capitalization: $644 million* 2007 average daily shares traded: 86,493 26.5 million shares; 93% float 37% institutional ownership * Closing price of $24.31 on 4/9/08. 4
Slide 5: Wealth Management Profile
Wealth Management Profile Market value of trust assets $3.1 billion at 12/31/07. Currently manage over 5,000 trust relationships. 76% of trust assets are under management at 12/31/07. Trust assets increased 3.6% in 2007. Trust revenue for 2007 totaled $16.2 million, an increase of 7.8% compared to 2
Slide 6: 2007 Financial Results
2007 Financial Results YTD YTD (dollars in thousands) 12/31/2007 12/31/2006 % CHG Net income $ 44,669 $ 39,035 14.4% EPS - diluted $ 2.09 $ 1.79 16.8% Return on assets 1.09% 0.94% 15.9% Return on tangible equity 16.21% 14.40% 12.6% Net interest margin 3.44% 3.49% (1.4%) 6
Slide 7: Asset Quality
Asset Quality Loans 0.50% Net charge-offs 0.45% Held for Sale Commercial & 0.40% 0.46% Industrial Consumer 2%13% 0.35% 0.30% Home Equity 5% 10% 0.25% 0.31% 0.29% 0.28% 0.20% 0.23% 0.15% 0.10% 26% 44% 0.05% Residential Commercial 0.00% Real Estate Real Estate 2003 2004 2005 2006 2007 Market Valuation
Slide 8: 2008 Strategy / Business Plan
2008 Strategy / Business Plan Challenging economic conditions ahead. Monitor for credit deterioration. Successful integration of Oak Hill Banks. Focus on balance sheet remix strategy; higher- yielding loan products and non interest-bearing DDA customers. Concentrate on efficiency ratio by improving
Slide 9: Key Investor Messages
Key Investor Messages “Against the tide” earnings increase in 2007. Recent stock price rally still leaves opportunity for appreciation as earnings visibility improves post-Oak Hill. 23 consecutive years of dividend increases; payout ratio targeted at 55% of earnings; current yield above market at 4.
Slide 10: Creates a Powerful Community Bank Franchise
Creates a Powerful Community Bank Franchise Projected Population Growth* (%) 4.00 2.72 2.17 2.00 0.00 (2.00) (1.16) (4.00) WSBC OAKF Ohio Median 2006 Household Income $60,000 $49,467 $45,000 $39,879 $42,159 $30,000 $15,000 $0 WSBC OAKF Ohio Projected HH Income Change* (%) 18.00 16.50 15.35 14.71 15.
Slide 11: Transaction Rationale
Transaction Rationale Market Share Top 15 deposit market share in Ohio Connects geographic gap in branch network Enhanced Doubles presence in growth markets Growth Increased scale enhances lending capabilities Financially Attractive Identifiable, achievable cost savings Accretive to GAAP and Cash EP
Slide 12: Dividends Per Share
Dividends Per Share $1.12 $0.94 2002 2003 2004 2005 2006 2007 2008 1) 23 consecutive years of dividend increases. 2) Current dividend yield of approximately 4.6% (at 4/9/08). 3) 19% increase in dividends since 2002. 12
Slide 13: Return to Shareholders
Return to Shareholders Shares 1,600 12.00% 1,400 9.90% 9.34% 9.27% 10.00% 8.76% 8.53% 8.46% 1,200 8.00% 1,000 8.21% 7.69% 7.29% 800 6.87% 6.00% 6.26% 5.94% 600 4.00% 400 2.00% 200 - 0.00% 2002 2003 2004 2005 2006 2007 Shares repurchased Tier I leverage Tangible equity Note: $263 million in dividends
Slide 14: WesBanco / Peer Median – Stock Performance
WesBanco / Peer Median – Stock Performance 40% 30% 20% 10% 0% 2002 2003 2004 2005 2006 2007 2008 -10% YTD* -20% -30% -40% WesBanco Peer Median NASDAQ Bank Index From 2002 through March 31, 2008 WesBanco has outperformed both the NASDAQ Bank Index and its peers with a 48% total return, compared to 19
Slide 15: Stock Performance – Long-term Cumulative Return
Stock Performance – Long-term Cumulative Return 500% 450% 400% 350% 300% 250% 200% 150% 100% 50% 0% -50% '77 '78 '79 '80 '81 '82 '83 '84 '85 '86 '87 '88 '89 '90 '91 '92 '93 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 Q1 WesBanco S & P 500 15
Slide 16: Annual Meeting of Stockholders
Annual Meeting of Stockholders April 16, 2008