WesBanco reports 42 percent 2Q earnings growth - Beckley, Bluefield & Lewisburg News, Weather, Sports

WesBanco reports 42 percent 2Q earnings growth

Posted: Updated:
  • Local NewsLocal NewsMore>>

  • Officers In Tazewell County Work To Keep Your Holiday Travel Safe

    Officers In Tazewell County Work To Keep Your Holiday Travel Safe

    Monday, September 1 2014 6:50 PM EDT2014-09-01 22:50:12 GMT
    Police patrolling the roads this Labor DayPolice patrolling the roads this Labor Day
    According to AAA, 34.7 million people are expected to hit the road this Labor Day. Many police officers are out in force to keep you safe.
    According to AAA, 34.7 million people are expected to hit the road this Labor Day. Many police officers are out in force to keep you safe.
  • After fatal McDowell County crash, Troopers caution against drinking and driving over Holiday Weekend

    After fatal McDowell County crash, Troopers caution against drinking and driving over Holiday Weekend

    Monday, September 1 2014 6:00 PM EDT2014-09-01 22:00:38 GMT
    While many are safely celebrating Labor Day, State Troopers want to caution everyone about the dangers of drinking and driving.The West Virginia Department of Transportation says over the last 5 years in the Mountain State, almost 800 people have been killed in a drink driving crash just during Labor Day Weekend. Troopers released these pictures from Sunday morning's fatal crash to show the consequences drinking and driving can have.Read full story on Sunday morning's fatal crash in McDowell ...
    While many are safely celebrating Labor Day, State Troopers want to caution everyone about the dangers of drinking and driving.The West Virginia Department of Transportation says over the last 5 years in the Mountain State, almost 800 people have been killed in a drink driving crash just during Labor Day Weekend. Troopers released these pictures from Sunday morning's fatal crash to show the consequences drinking and driving can have.Read full story on Sunday morning's fatal crash in McDowell ...
  • Update: New Information Released in Raleigh County Murder Investigation

    Update: New Information Released in Raleigh County Murder Investigation

    Monday, September 1 2014 5:33 PM EDT2014-09-01 21:33:21 GMT
    Joe Collins is arrested on murder chargesJoe Collins is arrested on murder charges
    The Raleigh County Sheriffs Office made an arrest Sunday after a man was murdered in Glen White.Joe Collins was arrested and is being charged with 1st degree murder for the shooting and killing of Larry Totten.The incident occurred Sunday morning at Mr. Tottens residence.
    The Raleigh County Sheriffs Office made an arrest Sunday after a man was murdered in Glen White.Joe Collins was arrested and is being charged with 1st degree murder for the shooting and killing of Larry Totten.The incident occurred Sunday morning at Mr. Tottens residence.
  • BusinessBusinessMore>>

  • Union workers at Frontier OK 3-year contract

    Union workers at Frontier OK 3-year contract

    Monday, September 1 2014 12:17 PM EDT2014-09-01 16:17:18 GMT
    The new contract will expire in August 2017. It covers about 1,500 employees in 42 West Virginia counties.
    The new contract will expire in August 2017. It covers about 1,500 employees in 42 West Virginia counties.
  • Shale activity spurs WesBanco growth

    Shale activity spurs WesBanco growth

    Monday, September 1 2014 10:00 AM EDT2014-09-01 14:00:29 GMT
    Managing growth has been a problem for some companies in the shale gas region of West Virginia, leading WesBanco to provide services to help them.
    Managing growth has been a problem for some companies in the shale gas region of West Virginia, leading WesBanco to provide services to help them.
  • WV workforce lacks oil and gas expertise — for now

    WV workforce lacks oil and gas expertise — for now

    Sunday, August 31 2014 5:00 PM EDT2014-08-31 21:00:19 GMT
    Despite the relatively high amount of natural gas production in West Virginia, less than 3 percent of employees in some of the major occupations that make up the sector's workforce live in the Mountain State.
    Despite the relatively high amount of natural gas production in West Virginia, less than 3 percent of employees in some of the major occupations that make up the sector's workforce live in the Mountain State.

WesBanco Inc. saw its net income increase nearly 42 percent to $17 million in the second quarter, compared to $12 million in the second quarter last year.

Net income for the first half totaled $33 million, compared with $24 million a year ago, the company announced July 23.

First-half results were enhanced by the acquisition in late 2012 and integration in the first quarter of 2013 of the approximate $655 million, 13-branch Fidelity Bancorp.

Total assets at June 30 increased 10.1 percent or $558.6 million from June 30, 2012, to $6.08 billion due to the acquisition of Fidelity and an accelerated organic loan growth rate, the earnings release said.

"The 2013 first half financial results were very strong. We are extremely pleased with our revenue growth in multiple areas of the Company. Many of the operating strategies which were implemented last year are beginning to produce additional revenues or have helped control expenses," Paul M. Limbert, president and CEO, said in the release.

"The addition of lending officers and other types of revenue producers are beginning to generate either additional loan volume or additional fee income. Our ability to quickly integrate the Fidelity acquisition has allowed us to obtain necessary cost savings, while making the customer transition as smooth as possible.

"All of our markets are showing improvements in loan volumes and outstandings, securities brokerage and wealth management revenues and secondary market mortgage activity. Our team has performed very well this year and our shareholders are being rewarded by this performance."

WesBanco is a multi-state bank holding company that operates 118 branch locations and 104 ATMs in West Virginia, Ohio, and Pennsylvania. WesBanco's banking subsidiary is WesBanco Bank, headquartered in Wheeling. WesBanco also operates an insurance brokerage company, WesBanco Insurance Services, and a full service broker/dealer, WesBanco Securities.