WESBANCO REPORTS THIRD QUARTER EARNINGS
WESBANCO REPORTS THIRD QUARTER EARNINGS WHEELING, W.Va., Oct. 19 /PRNewswire/ -- WesBanco Inc.
(NASDAQ: WSBC), a bank holding company headquartered in Wheeling, today reported net income for the nine-month period ending Sept. 30, 1992, of $9,653,000 or $2.92 per share, compared to $8,812,000 or $2.67 per share for the nine-month period ending Sept. 30, 1991, an increase of 9.5 percent. Net income for the quarter ending Sept. 30, 1992, was reported at $3,238,000 or $.98 per share, compared to $2,823,000 or $.85 per share for the third quarter of 1991.
WesBanco's earnings performance reflects a return on average assets of 1.3 percent and a return on average equity of 11.4 percent for the nine-month period ending Sept. 30, 1992. WesBanco's return on average assets and return on average equity for the year ending Dec. 31, 1991, were 1.2 percent and 10.6 percent respectively. Assets of WesBanco at Sept. 30, 1992, exceeded one billion dollars and were $1,001,962,000. Total deposits were $833,332,000 and total equity increased to $115,348,000. During the third quarter of 1992, WesBanco's acquisition of The First National Bank of Barnesville, Barnesville, Ohio, was completed. Total assets of The First National Bank of Barnesville as of the acquisition date were approximately $144,000,000. The historical financial information presented by WesBanco has been restated to include The First National Bank of Barnesville. WesBanco is a multi-bank holding company with 11 affiliate banks that have offices in 21 locations within West Virginia and five locations in eastern Ohio. WesBanco, Inc. stock is traded on the National Association of Securities Dealers Quotation System (NASDAQ) under quotation symbol "WSBC." -0- 10/19/92 /CONTACT: T.G. Dove of WesBanco, Inc., 304-234-9202/ (WSBC) CO: WesBanco, Inc. ST: West Virginia, Ohio IN: FIN SU: ERN
JT-LJ -- PG008 -- 1624 10/19/92 13:06 EDT
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|Date:||Oct 19, 1992|
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