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Wesbanco Bank Community Development Corporation (Tables) - WBCDC [Member]
12 Months Ended
Dec. 31, 2020
Schedule of Condensed Balance Sheet

(in thousands)

 

December 31, 2020

 

Assets

 

 

 

 

Cash and due from banks

 

$

65,282

 

Loans, net of allowance for loan losses of $1.0 million

 

 

46,951

 

Investments

 

 

1,634

 

Other assets

 

 

794

 

Total Assets

 

$

114,661

 

Liabilities

 

$

246

 

Shareholder Equity

 

 

114,415

 

Total Liabilities and Shareholder Equity

 

$

114,661

 

 

Schedule of Condensed Income Statement

(in thousands)

 

For the Year Ended December 31, 2020

 

Interest income

 

 

 

 

Loans

 

$

1,378

 

Other

 

 

26

 

Total interest income

 

 

1,404

 

Provision for loan losses

 

 

714

 

Net interest income after provision for loan losses

 

 

690

 

Loss on investments

 

 

(58

)

Non-interest expense

 

 

603

 

Income before provision for income taxes

 

 

29

 

Provision for income taxes

 

 

9

 

Net income

 

$

20

 

 

Schedule of Condensed Cash Flow Statement

(in thousands)

 

For the Year Ended December 31, 2020

 

Operating Activities

 

 

 

 

Net income

 

$

20

 

Provision for loan losses

 

 

714

 

Loss on investments

 

 

58

 

Net change in other assets

 

 

(767

)

Net change in other liabilities

 

 

(73

)

Net cash used in operating activities

 

 

(48

)

Investing Activities

 

 

 

 

Increase in loans

 

 

(10,999

)

Net cash used in investing activities

 

 

(10,999

)

Financing Activities

 

 

 

 

Qualified equity investment by parent company

 

 

15,000

 

Net cash provided by financing activities

 

 

15,000

 

Net increase in cash and cash equivalents

 

 

3,953

 

Cash and cash equivalents at beginning of year

 

 

61,329

 

Cash and cash equivalents at end of year

 

$

65,282