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WESBANCO, INC. ANNOUNCES SECOND QUARTER AND SIX-MONTH EARNINGS

 WHEELING, W.Va., July 27 /PRNewswire/ -- WesBanco, Inc. (NASDAQ: WSBC) President and CEO, Edward M. George, today announced second quarter and six-month earnings for the Wheeling-based multi-bank holding company.
 Net income for the second quarter of 1993 was reported at $3,676,000 or $.56 per share compared to $2,939,000 or $.44 per share for the second quarter of 1992. Net income for the six-month period ending June 30, 1993, was $7,311,000 or $1.11 per share, compared to $6,397,000 or $.97 per share for the six-month period ending June 30, 1992, an increase of 14.3 percent, excluding the effect of the changes in accounting for postretirement benefits. During 1992, WesBanco elected to record a one-time noncash charge against income to adopt the accounting standard, FAS No. 106, "Employers Accounting for Postretirement Benefits Other Than Pensions," requiring that nonpension postretirement benefits be accrued over the active service lives of employees. Per share amounts have been adjusted for a two-for-one stock split that occurred on April 22, 1993.
 Total assets of WesBanco at June 30, 1993, were $1,043,370,000, total deposits were $842,318,000 and total equity increased to $121,333,000, an increase of 7.2 percent over the same period in 1992.
 Earnings performance for the six-month period ending June 30, 1993, reflects a return on average assets of 1.44 percent and a return on average equity of 12.27 percent. WesBanco's return on average assets and return on average equity for the six-month period ending June 30, 1992, were 1.31 percent and 11.48 percent, respectively, before the effect of the change in accounting for postretirement benefits.
 In June 1993, WesBanco was once again recognized by the financial press for safety and earnings performance. This most recent rating given to WesBanco appeared in the June issue of United States Banker in its annual ranking of the nation's second hundred largest publicly traded banking companies. WesBanco was rated third overall in a combined safety and earnings score. Over the past five years, WesBanco has been recognized for its financial strength by United States Banker, Money magazine, American Banker, Barron's and Financial World.
 WesBanco is the parent company of 11 affiliate banks that offer full-service banking through 25 locations in West Virginia and eastern Ohio. WesBanco affiliates include WesBanco Wheeling and WesBanco Elm Grove in Wheeling; WesBanco Wellsburg in Wellsburg, W.Va.; WesBanco Sistersville in Sistersville, W.Va.; WesBanco New Martinsville in New Martinsville, W.Va.; WesBanco Sissonville and WesBanco South Hills in the Charleston, W.Va., area; WesBanco Elizabeth and WesBanco Parkersburg in the Parkersburg, W.Va., area; WesBanco Kingwood in Kingwood, W.Va.; and WesBanco Barnesville in Barnesville, Ohio.
 -0- 7/27/93
 /CONTACT: Edward M. George, president and CEO of WesBanco, 304-234-9208/
 (WSBC)


CO: WesBanco, Inc. ST: West Virginia IN: FIN SU: ERN

CD-KC -- PG011 -- 6152 07/27/93 10:41 EDT
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Publication:PR Newswire
Date:Jul 27, 1993
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