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WESBANCO ANNOUNCES THIRD QUARTER AND NINE-MONTH EARNINGS

 WHEELING, W.Va., Oct. 15 /PRNewswire/ -- WesBanco, Inc. (NASDAQ: WSBC) President and CEO, Edward M. George, today announced third quarter and nine-month earnings for the Wheeling-based multi-bank holding company.
 Net income for the third quarter of 1993 was reported at $3,930,000 or $.60 per share, compared to $3,229,000 or $.49 per share for the third quarter of 1992. Net income for the nine-month period ending Sept. 30, 1993, was $11,241,000 or $1.70 per share, compared to $9,626,000 or $1.46 per share for the nine-month period ending Sept. 30, 1992, an increase of 16.8 percent, excluding the effect of the change 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 Sept. 30, 1993, were $1,038,085,000, total deposits were $853,520,000 and total equity was $122,838,000, an increase of 7.1 percent over the same period in 1992. Shareholders' equity per share was $18.67 at Sept. 30, 1993.
 Earnings performance for the nine-month period ending Sept. 30, 1993, reflects a return on average assets of 1.47 percent and a return on average equity of 12.50 percent.
 WesBanco's return on average assets and return on average equity for the nine-month period ending Sept. 30, 1992, were 1.30 percent and 11.41 percent, respectively, before the effect of the change in accounting for postretirement benefits.
 On Aug. 26, 1993, WesBanco and First Fidelity Bancorp, Inc., a multi-bank holding company headquartered in Fairmont, W.Va., jointly announced the execution of a definitive agreement and plan of merger providing for the merger of First Fidelity with and into a wholly owned subsidiary of WesBanco, FFB Corporation, to be formed for the purpose of effecting the merger. First Fidelity operates four banks in north central West Virginia through 13 offices. It serves Harrison County with three offices of the Bridgeport Bank and four offices of the FirstBank of Shinnston; serves Marion County with four offices of the First National Bank in Fairmont and serves Monongalia County with two offices of the Central National Bank of Morgantown. The transaction, which is subject to regulatory and stockholder approval, among other things, is expected to be completed during the first quarter of 1994.
 Upon consummation of this transaction WesBanco's total assets will be approximately $1,350,000,000, deposits of $1,100,000,000, loans outstanding $725,000,000, and shareholders' equity $153,000,000. WesBanco will have a total of 38 offices in 13 counties in both West Virginia and Ohio.
 Also during August 1993, the WesBanco board of directors approved a quarterly cash dividend of $.20 that was paid on Oct. 1, 1993. This second dividend increase approved during 1993, represents a per share increase of $.0075 over the $.1925 paid on July 1, 1993, an increase of 3.9 percent, and an increase of 14.3 percent over the fourth quarter 1992 dividend. On an annualized basis, the cash dividend has increased from $.77 per share to $.80 per share, adjusted for a two-for-one stock split that occurred on April 22, 1993.
 WesBanco is currently the parent company of nine affiliate banks that offer full-service banking through 25 locations in West Virginia and eastern Ohio. WesBanco affiliates include WesBanco Wheeling in Wheeling, Follansbee, New Martinsville and Sistersville, W.Va.; WesBanco Elm Grove in Wheeling; WesBanco Wellsburg in Wellsburg, 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 the Kingwood, W.Va., area; and WesBanco Barnesville, in the Barnesville, Ohio, area.
 WESBANCO INC.
 Financial Highlights
 (Dollars in thousands, except share and per share data)
 Sept. 30
 1993 1992
 At Quarter End:
 Total assets $1,038,085 $1,001,962
 Total deposits 853,520 833,332
 Total loans, net of unearned
 income 548,509 525,106
 Total investment securities 413,816 414,763
 Shareholders' equity 122,838 114,729
 Shareholders' equity per share $18.67 $17.35
 For the Three Months Ended:
 Net income 3,930 3,229
 Earnings per share of common stock:
 Net income $.60 $.49
 Dividends per share $.20 $.175
 For the Nine Months Ended:
 Income before effect of prior years
 postretirement benefits $11,241 $9,626
 Effect of prior years postretirement
 benefits - net of tax effect -- (592)
 Net income 11,241 9,034
 Earnings per share of common stock:
 Income before effect of prior years
 postretirement benefits $1.70 $1.46
 Effect of prior years postretirement
 benefits - net of tax effect -- $(.09)
 Net income $1.70 $1.37
 Dividends per share $.585 $.525
 Key Ratios:
 Return on average assets before
 effect of prior years
 postretirement benefits 1.47 pct. 1.30 pct.
 Return on average assets 1.47 pct. 1.22 pct.
 Return on average equity before
 effect of prior years postretirement
 benefits 12.50 pct. 11.41 pct.
 Return on average equity 12.50 pct. 10.70 pct.
 Reserve for loan losses to total loans 1.65 pct. 1.56 pct.
 Ending primary capital to assets 12.59 pct. 12.17 pct.
 Market Information:
 Price range of common stock for the quarter:
 High $34.25 $22.50
 Low $29.75 $20.63
 Average shares outstanding
 at Sept. 30 6,601,533 6,613,400
 -0- 10/15/93
 /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 -- PG008 -- 2785 10/15/93 13:45 EDT
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Date:Oct 15, 1993
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