Investor Relation - As Reported Financials

Investor Relation

As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2012 Y 12/31/2014 USD 2013 Y 12/31/2015 USD 2014 Y 12/31/2015 USD 2015 Y 12/31/2015 USD 2016 Q3 YTD 9/30/2016 USD
Source Document Currency Code 2012 Y 12/31/2014 USD 2013 Y 12/31/2015 USD 2014 Y 12/31/2015 USD 2015 Y 12/31/2015 USD 2016 Q3 YTD 9/30/2016 USD

INTEREST AND DIVIDEND INCOME

Loans, including fees 166,656 175,323 172,182 203,993 160,858

Interest and dividends on securities

Taxable 32,461 29,193 29,233 39,314 29,129
Tax-exempt 12,399 13,128 13,589 16,764 13,620
Total interest and dividends on securities 44,860 42,321 42,822 56,078 42,749
Other interest income 170 246 987 1,641 1,671
Total interest and dividend income 211,686 217,890 215,991 261,712 205,278

INTEREST EXPENSE

Interest bearing demand deposits 1,526 1,415 1,568 1,943 1,841
Money market deposits 2,183 1,462 1,877 1,914 1,350
Savings deposits 864 525 532 640 502
Certificates of deposit 26,371 22,010 13,286 11,033 7,835
Total interest expense on deposits 30,944 25,412 17,263 15,530 11,528
Federal Home Loan Bank borrowings 4,473 1,151 968 5,510 9,104
Other short-term borrowings 4,480 2,525 1,333 370 299
Junior subordinated debt owed to unconsolidated subsidiary trusts 3,438 3,315 3,199 3,315 NA
Subordinated debt and junior subordinated debt NA NA NA NA 2,706
Total interest expense 43,335 32,403 22,763 24,725 23,637
NET INTEREST INCOME 168,351 185,487 193,228 236,987 181,641
Provision for credit losses 19,874 9,086 6,405 8,353 6,350
Net interest income after provision for credit losses 148,477 176,401 186,823 228,634 175,291

NON-INTEREST INCOME

Trust fees 18,044 19,577 21,069 21,900 16,160
Service charges on deposits 17,138 17,925 16,135 16,743 12,861
Electronic banking fees 11,336 12,198 12,708 14,361 11,290
Net securities brokerage revenue 4,604 6,248 6,922 7,692 5,119
Bank-owned life insurance 3,516 4,664 4,614 4,863 2,910
Net gains on sales of mortgage loans 2,876 2,614 1,604 2,071 2,045
Net securities gains 2,463 684 903 948 2,293
Net gain/(loss) on other real estate owned and other assets (305) (81) (1,006) 356 380
Other income 5,103 5,456 5,555 5,532 6,943
Total non-interest income 64,775 69,285 68,504 74,466 60,001

NON-INTEREST EXPENSE

Salaries and wages 58,913 65,431 67,408 77,340 60,136
Employee benefits 21,462 23,255 21,518 26,896 20,684
Net occupancy 10,905 11,809 12,122 13,635 10,459
Equipment 9,221 10,669 11,542 13,194 10,387
Marketing 4,235 5,174 5,242 5,646 3,876
FDIC insurance 3,899 3,725 3,376 4,107 3,225
Amortization of intangible assets 2,150 2,288 1,920 3,136 2,263
Restructuring and merger-related expense 3,888 1,310 1,309 11,082 10,577
Other operating expenses 35,447 37,337 37,196 38,887 28,696
Total non-interest expense 150,120 160,998 161,633 193,923 150,303
Income before provision for income taxes 63,132 84,688 93,694 109,177 84,989
Provision for income taxes 13,588 20,763 23,720 28,415 22,572
NET INCOME 49,544 63,925 69,974 80,762 62,417

EARNINGS PER COMMON SHARE

Basic 1.84 2.18 2.39 2.15 1.61
Diluted 1.84 2.18 2.39 2.15 1.61

AVERAGE COMMON SHARES OUTSTANDING

Basic 26,867,227 29,270,922 29,249,499 37,488,331 38,828,618
Diluted 26,888,847 29,344,683 29,333,876 37,547,127 38,855,453
DIVIDENDS DECLARED PER COMMON SHARE 0.70 0.78 0.88 0.92 0.72

COMPREHENSIVE INCOME

Net income 49,544 63,925 69,974 80,762 NA

Securities available-for-sale

Net change in unrealized (losses) gains on securities available-for-sale 4,833 (30,288) 15,242 (10,552) NA
Related income tax benefit (expense) 4,483 11,186 (5,604) 3,875 NA
Net securities gains reclassified into earnings (2,142) (89) (981) (596) NA
Related income tax expense 796 33 361 219 NA
Net effect on other comprehensive income for the period 1,740 (19,158) 9,018 (7,054) NA

Securities held-to-maturity

Amortization of unrealized gain transferred from available-for-sale (1,534) (1,029) (472) (494) NA
Related income tax expense 577 383 173 182 NA
Net effect on other comprehensive income for the period (957) (646) (299) (312) NA

Defined benefit pension plan

Amortization of net loss and prior service costs 2,332 3,579 1,516 3,205 NA
Related income tax benefit (918) (1,368) (558) (1,201) NA
Recognition of unrealized gain (loss) (12,143) 17,751 (24,934) 5,106 NA
Related income tax (expense) benefit (1,747) (6,527) 9,166 (1,873) NA
Net effect on other comprehensive income for the period (6,246) 13,435 (14,810) 5,237 NA
Total other comprehensive loss (5,463) (6,369) (6,091) (2,129) NA
COMPREHENSIVE INCOME 44,081 57,556 63,883 78,633 78,309
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.

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