WesBanco, Inc. · NASDAQ:WSBC

WesBanco — Shareholder Meeting (April 2007)

25 slides from WesBanco's shareholder meeting presentation, Apr 18, 2007

  1. Slide 1: Annual Shareholders Meeting

    Annual Shareholders Meeting April 18, 2007

  2. Slide 2: Corporate Profile

    Corporate Profile* NASDAQ: WSBC • Founded in 1870 • $4.1 billion in assets • 78 offices, 1 lending office, & 112 ATM’s • $3.0 billion in trust assets • Market capitalization: $647 million* • 2006 average daily shares traded: 50,025 *As of 3/31/07

  3. Slide 3: Market Diversification

    Market Diversification Buffalo Owensboro Roano Lynchburg Bowling Green (220, = : = T Ame BAS Feydersonville me Bauy RS Te son City Burlingto OPGiciA tSh 2006 SNL FinencialLLc. ‘ a ee fi WesBanco By all accounts, better.

  4. Slide 4: Market Diversification

    Market Diversification LOANS 12/31/06 DEPOSITS 12/31/06 NON NON WV WV 56% 42% WV WV 44% 58% WV ­ Branches – 45 WV – ATM’s ­ 67 Non­WV ­ Branches – 33 Non­WV ­ ATM’s ­ 45

  5. Slide 5: 2006 Accomplishments

    2006 Accomplishments • Balance sheet repositioning to maintain net interest margin. • Emphasis on growth in non­interest income. • Branch optimization activity. • Expense control. • Credit quality improvements.

  6. Slide 6: Interest Rate Yield Curve Comparison

    Interest Rate Yield Curve Comparison 5.20% 5.10% 5.00% 4.90% 4.80% 4.70% 4.60% 4.50% 4.40% 3mo 6mo 1yr 2yr 3yr 5yr 10yr 30yr 4/13/2007 1 year ago

  7. Slide 7: Net Interest Margin %

    Net Interest Margin %* 3.60% 3.50% 3.40% 3.30% 3.20% 3.10% 3.00% 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 1st Qtr '05 '05 '05 '05 '06 '06 '06 '06 '07 *Fully taxable­ taxable­equivalent. equivalent.

  8. Slide 8: Core Non-Interest Income

    Core Non­Interest Income* (in thousands) $14,000 $12,000 $10,000 $8,000 $6,000 $4,000 $2,000 $0 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 1st Qtr '05 '05 '05 '05 '06 '06 '06 '06 '07 * Excludes other­ other­than than­­temporary temporary impairment losses on securities and gains

  9. Slide 9: Newly Built Branches

    Newly Built Branches Barnesville Gahanna Marietta Reynoldsburg

  10. Slide 10: Core Efficiency Ratio

    Core Efficiency Ratio* 62.00% 60.00% 58.00% 56.00% 54.00% 52.00% 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 1st Qtr '05 '05 '05 '05 '06 '06 '06 '06 '07 * Excludes restructuring costs, merger costs, other­ other­than than­­temporary temporary impairment losses on securities and g

  11. Slide 11: Net Charge-Offs to Average Loans %

    Net Charge­Offs to Average Loans % 0.55% 0.45% 0.35% 0.25% 0.15% 0.05% -0.05% 2002 2003 2004 2005 2006 1st Qtr '07 Annualized

  12. Slide 12: 2007 Outlook

    2007 Outlook • Continued competitive pressures on bank net interest margins. • Growth in non­interest revenue sources. • Development of new delivery channels (electronic banking services). • Integration of non­banking revenue sources and services.

  13. Slide 13: 2007 Financial Results - 1st Quarter

    2007 Financial Results ­1st Quarter 1st Quarter 1st Quarter (in thousands, except per share amounts) 3/31/2007 3/31/2006 GAAP ­ Net income $ 11,947 $ 5,584 Core operating earnings* $ 11,359 $ 9,258 GAAP EPS ­ diluted $ 0.56 $ 0.25 Core operating EPS­diluted* $ 0.53 $ 0.42 59.24% * Excludes restructu

  14. Slide 14: 2007 Financial Results - 1st Quarter

    2007 Financial Results ­1st Quarter 1st Quarter 1st Quarter 3/31/2007 3/31/2006 Return on assets 1.20% 0.52% Return on equity 11.77% 5.45% Net interest margin* 3.56% 3.40% Efficiency ratio* 58.32% 69.25% 59.24% *Fully taxable­ taxable­equivalent. equivalent.

  15. Slide 15: 2007 Financial Results - 1st Quarter (cont.)

    2007 Financial Results ­1st Quarter (cont.) • Improved net interest margin. • Improved non–interest income. • Control over expenses. • Improvement in credit quality metrics.

  16. Slide 16: Current Earnings Environment

    Current Earnings Environment Percentage of Companies That Median Year­Over­Year EPS Have Missed Consensus Growth for KBW Bank Universe 60% 10% 54% 48% 47% 8% 50% 46% 43% 8% 7% 40% 39% 40% 35% 6% 5% 30% 30% 23% 4% 3% 20% 2% 10% 0% 0% 0% 4Q04 1Q05 2Q05 3Q05 4Q05 1Q06 2Q06 3Q06 4Q06 1Q07E 1Q06 2Q06 3Q0

  17. Slide 17: Relative Stock Price Performance: 2003 - 2006

    Relative Stock Price Performance: 2003 ­ 2006 135% 130% 125% 120% 115% 110% 105% 100% 95% 90% 85% /0 3 1/0 4 0/0 4 9/0 4 /04 0/ 0 5 0/0 5 9/ 0 5 /05 0/ 0 6 9/ 0 6 8/0 6 /06 / 31 /3 /3 /2 / 29 /3 /3 /2 / 29 /3 /2 /2 / 29 12 3 6 9 12 3 6 9 12 3 6 9 12 WesBanco Inc. (+21.2%) NASDAQ Bank Index (+17.9%)

  18. Slide 18: Peer Group Analysis - Total Return

    Peer Group Analysis – Total Return Total Return Since Completion of Western Ohio Financial Corporation Acquisition* (%) 100.0% WesBanco Total Return = 22.6% 75.0% 50.0% 25.0% 0.0% Median Value = 4.8% ­25.0% NB KF N E I CO SBC R C BNK BS EBO RM E FF BA G F C B R K B F C FI L H S I U T H T SF FC FFB F

  19. Slide 19: Total Return Analysis

    Total Return Analysis Total Return * (%) 100.0% 90.2 75.0% 69.4 50.0% 27.2 22.7 25.0% 19.6 15.3 15.1 14.2 7.1 8.0 0.0% (1.5) (4.9) ­25.0% 2002 2003 2004 2005 2006 '02 ­ '06 WSBC Peers

  20. Slide 20: Return to Shareholders

    Return to Shareholders (in thousands) $59,407 $54,763 $45,534 $38,847 $37,134 $37,181 $31,712 $22,531 1999 2000 2001 2002 2003 2004 2005 2006 Dividends Stock Repurchases $327 million in dividends and stock repurchases returned to shareholders from 1999 to present.

  21. Slide 21: Dividends Per Share

    Dividends Per Share $1.10 $0.94 2002 2003 2004 2005 2006 2007 Annualized 1) 22 consecutive years of dividend increases. 2) Current dividend yield of approximately 3.4%. 3) 17% increase in dividends since 2002.

  22. Slide 22: Stock Performance Long-term Cumulative Return

    Stock Performance Long­term Cumulative Return 500% 450% 400% 350% 300% 250% 200% 150% 100% 50% 0% ­50% '77 '78 '79 '80 '81 '82 '83 '84 '85 '86 '87 '88 '89 '90 '91 '92 '93 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 Q1 07 WesBanco S & P 500

  23. Slide 23: Questions?

    Questions ? Annual Shareholders Meeting April 18, 2007

  24. Slide 24: Reconciliation Table - Non-GAAP Financial Information

    Reconciliation Table – Non­GAAP Financial Information For the Three Months Ended (in thousands, except per share amounts) March 31, 2007 2006 Net income $ 11,947 $ 5,584 Add: restructuring expenses, net of tax (1) ­ 324 Add: other­than­temporary impairment losses, net of tax (1) ­ 4,829 Subtract: ga

  25. Slide 25: Forward-looking Disclosure

    Forward­looking Disclosure Forward­looking statements in this presentation relating to WesBanco’s plans, strategies, objectives, expectations, intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The informatio

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