-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KvDJXx6jT3zSs+EXAobG2HO/5DJl9i5Z1ZKtUl8erkwEKyB35Ydo1T1nLd25vQRW omSQvUSI24SdpETAanAPYA== /in/edgar/work/20000911/0000203596-00-000008/0000203596-00-000008.txt : 20000922 0000203596-00-000008.hdr.sgml : 20000922 ACCESSION NUMBER: 0000203596-00-000008 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000911 ITEM INFORMATION: FILED AS OF DATE: 20000911 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WESBANCO INC CENTRAL INDEX KEY: 0000203596 STANDARD INDUSTRIAL CLASSIFICATION: [6021 ] IRS NUMBER: 550571723 STATE OF INCORPORATION: WV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-08467 FILM NUMBER: 720122 BUSINESS ADDRESS: STREET 1: 1 BANK PLAZA CITY: WHEELING STATE: WV ZIP: 26003 BUSINESS PHONE: 3042349000 MAIL ADDRESS: STREET 1: ONE BANK PLZ CITY: WHEELING STATE: WV ZIP: 26003 8-K 1 0001.txt 1 SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) September 11, 2000 ------------------ WesBanco, Inc. ------------------------------------------------------ (Exact name of registrant as specified in its charter) West Virginia 0-8467 55-0571723 - --------------------------- ------------ ------------------ (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 1 Bank Plaza, Wheeling, WV 26003 - ---------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (304) 234-9000 -------------------- Former name or former address, if changed since last report Not Applicable --------------- 2 Item 7 - Financial Statements and Exhibits c) Exhibits 99.1 - Press release announcing presentation on financial information presented at the Friedman, Billings, Ramsey & Co., Inc., Seventh Annual Investor Conference, held in Washington, D.C. on September 11-12, 2000. Item 9 - Regulation FD Disclosure Pursuant to Regulation FD, information is being furnished below with respect to a presentation by Mr. Paul M. Limbert, Executive Vice President and Chief Financial Officer of WesBanco, Inc., at the Friedman, Billings, Ramsey & Co., Inc., Seventh Annual Investor Conference in Washington, D.C. Mr. Limbert is presenting for WesBanco on September 12, 2000. 3 [Presentation slide #1] WesBanco Friedman, Billings, Ramsey & Co., Inc. Seventh Annual Investors Conference September 11 - 12, 2000 4 [Presentation slide #2] Presentation Summary -------------------- - Corporate Description - Stock Performance - Results of Operations - Year 2000 Challenges 5 [Presentation slide #3] Corporate Description --------------------- - 60 banking offices in West Virginia and Eastern Ohio - Trust and investment services - Brokerage services - Insurance services [Location Map] 6 [Presentation slide #4] West Virginia Deposit Market Share* - ----------------------------------- MARKET BANK RANK SHARE - ----------------------------------------------- BB & T, Inc. 1 16.48% United Bankshares, Inc. 2 10.73 City Holding Co. 3 8.88 WesBanco, Inc. 4 7.87 Bank One Corp. 5 7.87 Huntington Bancshares, Inc. 6 7.25 * FDIC Summary of Deposits as of June 30, 1999. 7 [Presentation slide #5] West Virginia Deposit Market Share by Region* - --------------------------------------------- Upper Ohio North Kanawha BANK Valley Parkersburg Central Valley - ----------------------------------------------------------------------- WesBanco, Inc. 1 2 3 6 WesBanco % total deposits 46% 19% 28% 7% United Bankshares, Inc. 2 1 5 4 BB & T, Inc. 3 3 2 1 Bank One Corp. 4 6 4 3 Huntington Bancshares, Inc. 5 4 1 5 City Holding Co. 6 5 6 2 8 [Presentation slide #6] Significant Events ------------------ - Repositioned branch offices - Acquisition of Heritage Bank - in market merger - Divested Credit Card operation - Completed consolidation of all banks and mortgage company into single bank - WesMark Funds 9 [Presentation slide #7] Dividend Per Share / Yield -------------------------- [Graph] Year DPS Yield --------------------------------- 1990 $0.43 4.53% 1991 0.45 4.29 1992 0.47 3.19 1993 0.53 2.72 1994 0.57 3.53 1995 0.64 3.43 1996 0.72 3.32 1997 0.79 2.63 1998 0.84 2.85 1999 0.88 3.38 2nd Q Annualized 0.90 3.71 10 [Presentation slide #8] Core Earnings* (Not restated for pooling transactions) --------------------------------------- [Graph] (in millions) Core Net Year Earnings Income ---------------------------------------- 1995 $17.9 $18.2 1996 21.0 21.2 1997 22.7 22.3 1998 26.4 28.3 1999 26.5 27.6 1st Half Annualized 28.5 27.4 *Excludes goodwill amortization, net securities gains and non-recurring items. 11 [Presentation slide #9] Total Assets (Not restated for pooling transactions) --------------------------------------- [Graph] (in billions) Year Total Assets ------------------------------ 1986 $ 0.33 1987 0.54 1988 0.63 1989 0.66 1990 0.72 1991 0.83 1992 1.01 1993 1.04 1994 1.35 1995 1.37 1996 1.68 1997 1.79 1998 2.24 1999 2.27 6/00 2.31 12 [Presentation slide #10] Stock Performance Cumulative Total Return Percentage* - ----------------------------------------------------- [Graph] Year WesBanco S & P 500 --------------------------------- 1977 1.3% -7.2% 1978 12.7 -0.8 1979 17.4 17.4 1980 23.3 48.9 1981 46.9 44.0 1982 63.0 64.4 1983 94.7 86.7 1984 119.2 92.7 1985 132.5 123.8 1986 249.8 142.3 1987 244.4 148.0 1988 234.0 164.3 1989 240.9 195.5 1990 241.8 192.4 1991 257.5 222.4 1992 299.9 229.9 1993 334.8 239.8 1994 320.9 241.1 1995 340.3 278.2 1996 360.2 300.9 1997 402.2 334.1 1998 403.3 362.4 1999 394.8 383.3 6/00 390.0 382.9 *Total return assumes no reinvestment of dividends. 13 [Presentation slide #11] Five Year Cumulative Total Return* ---------------------------------- [Graph] Russell Financial Year WesBanco Services --------------------------------- 1994 $100 $100 1995 120 112 1996 144 138 1997 206 179 1998 209 157 1999 190 143 *Assumes $100 invested on January 1, 1994. 14 [Presentation slide #12] Equity to Assets (period end) ---------------- [Graph] Year WesBanco Peer Group ---------------------------------- 1995 12.7% 9.0% 1996 12.8 8.9 1997 13.0 9.0 1998 13.2 8.9 1999 11.9 8.2 2nd Q 11.1 --- Peer Group: Federal Reserve Bank 15 [Presentation slide #13] Return on Average Equity ------------------------ [Graph] Year WesBanco Peer Group -------------------------------- 1995 10.5% 12.7% 1996 10.5 13.5 1997 9.0 14.2 1998 9.6 13.4 1999 9.9 13.7 2nd Q 10.5 --- Peer Group: Federal Reserve Bank 16 [Presentation slide #14] Return on Average Assets ------------------------ [Graph] Year WesBanco Peer Group -------------------------------- 1995 1.31% 1.12% 1996 1.31 1.21 1997 1.18 1.27 1998 1.26 1.19 1999 1.23 1.16 2nd Q 1.20 --- Peer Group: Federal Reserve Bank 17 [Presentation slide #15] Year-to-Date Highlights - ------------------------------------------------------- 6/30/00 6/30/99 ------- ------- Core earnings* (000) $14,170 $13,064 Core EPS* 0.73 0.64 Net income (000) 13,611 14,837 EPS 0.70 0.73 --------------------------------------- Core ROA (annualized) 1.25% 1.18% Core ROE (annualized) 10.90 9.16 Efficiency ratio 56.08 57.65 Non-performing assets to loans 0.56 0.61 *Excludes goodwill amortization, net securities gains and non-recurring items. 18 [Presentation slide #16] Total Loans (period end) ------------------------ [Graph] (in billions) Total Year Loans ------------------------ 1995 $1.17 1996 1.33 1997 1.34 1998 1.37 1999 1.52 2nd Q 1.57 19 [Presentation slide #17] Non-performing Assets to Total Loans* ------------------------------------- [Graph] Year WesBanco Peer Group ---------------------------------- 1995 1.22% 1.21% 1996 1.07 1.19 1997 1.22 0.93 1998 1.07 0.79 1999 0.56 0.67 2nd Q 0.56 --- * Non-performing Assets = Nonaccrual, Renegotiated and ORE Peer Group: Federal Reserve Bank 20 [Presentation slide #18] Credit Quality -------------- [Graph #1] [Graph #2] Year NPA's Year Net Charge-offs - ------------------------- ------------------------- 1995 $14262 1995 $2641 1996 14218 1996 3355 1997 16456 1997 4684 1998 14669 1998 5518 1999 8483 1999 3383 2nd Q 8730 1st Half Annualized 1994 [Graph #3] [Graph #4] Year Provision Year Coverage - ------------------------- ------------------------- 1995 $3206 1995 178% 1996 4795 1996 145 1997 5574 1997 139 1998 4392 1998 116 1999 4295 1999 144 1st Half Annualized 2894 2nd Q 151 21 [Presentation slide #19] Total Deposits (period end) --------------------------- [Graph] (in billions) Total Year Deposits ----------------------- 1995 $1.60 1996 1.70 1997 1.78 1998 1.79 1999 1.81 2nd Q 1.85 22 [Presentation slide #20] Net Interest Margin % (tax equivalent) ------------------------ [Graph] Year WesBanco Peer Group ------------------------------------------- 1995 4.71% 4.59% 1996 4.69 4.58 1997 4.66 4.51 1998 4.46 4.53 1999 4.39 4.33 1st Half Annualized 4.22 --- Peer Group: Federal Reserve Bank 23 [Presentation slide #21] Non-interest Income %* ---------------------- [Graph] Year WesBanco Peer Group ------------------------------- 1995 14.5% 20.2% 1996 15.0 19.7 1997 15.6 21.3 1998 17.3 21.0 1999 18.3 20.5 1st Half 19.9 --- * Percentage of total operating income. Peer Group: Federal Reserve Bank 24 [Presentation slide #22] Efficiency Ratio* ----------------- [Graph] Year WesBanco Peer Group -------------------------------------- 1995 56.8% 61.6% 1996 55.6 60.5 1997 58.6 58.9 1998 57.9 60.7 1999 58.9 59.7 1st Half 56.1 --- *Non-interest expense as a percentage of total operating income Peer Group: Federal Reserve Bank 25 [Presentation slide #23] Market Value of Trust Assets (period end) ---------------------------- [Graph] (IN BILLIONS) Market Value Year of Trust Assets ------------------------ 1995 $1.45 1996 1.71 1997 2.10 1998 2.78 1999 3.09 2nd Q 3.11 26 [Presentation slide #24] Trust Revenue ------------- [Graph] (in millions) Year Trust Revenue -------------------------- 1995 $ 5.4 1996 6.2 1997 7.6 1998 9.1 1999 10.6 1st Half Annualized 12.0 27 [Presentation slide #25] WesMark Family of Mutual Funds Net Assets (at period end) ----------------------------- [Graph] (in millions) Year Net Assets ------------------- 1997 $174 1998 369 1999 450 2nd Q 527 28 [Presentation slide #26] Year 2000 Challenges -------------------- - Competition - Loans / Deposits - Banks / Non-banks - Integration of non-bank affiliates with customer base - Complete WesMark family of mutual funds - Development & implementation of electronic delivery channels 29 [Presentation slide #27] WesBanco Friedman, Billings, Ramsey & Co., Inc. Seventh Annual Investors Conference 30 Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WesBanco, Inc. -------------- (Registrant) September 11, 2000 /s/ Edward M. George - ------------------ --------------------------- Date Edward M. George President & Chief Executive Officer EX-99.1 2 0002.txt EXHIBIT 99.1 ------------ NEWS For Immediate Release September 8, 2000 For Further Information Contact: Edward M. George President & CEO (304) 234-9208 Nasdaq Trading Symbol: WSBC E. M. George announced today that WesBanco will be a presenter at the Friedman, Billings, Ramsey & Co., Inc. Seventh Annual Investor Conference in Washington, D.C. Paul M. Limbert, Executive Vice President & Chief Financial Officer, will be presenting for WesBanco on September 12, 2000 at approximately 11:25 a.m. All public company presentations at this conference will be webcast at www.fbr.com. -----END PRIVACY-ENHANCED MESSAGE-----