West Virginia Company 2013 Audited Profits Up 78% Over 2009

Since the US Senate Race in West Virginia is now heating up, I think it would be helpful to research how the 8 West Virginia Headquartered Companies with Market Capitalizations now above $50 mil each and with annual audited financial statements filed with the SEC in 2013, in 2009 and in 2007 have done on the earnings front.

The Total Audited 2013 Net Income from Continuing Operations of these 8 West Virginia Companies was $256.0 mil, an increase of a very robust 78% from the comparable earnings in 2009, which was the very low point of annual corporate profits due to the late 2008 financial meltdown.

This very significant 78% earnings recovery for these West Virginia Companies from 2009 to the most recent 2013 occurred when both West Virginia US Senators were Democrats and also when Democrats had majority control in the US Senate.

In addition, these Total Audited Earnings of these 8 West Virginia Companies in 2013 were up 21% over the comparable earnings in 2007, which was the peak year earnings before the disastrous effects of the 2008 financial meltdown hit......they not only recouped the earnings they lost with the financial meltdown, but they also added another 21% of earnings.  

Below here are the Audited Net Income (Loss) From Continuing Operations for each of these 8 West Virginia Companies in 2013, in 2009 and in 2007, along with the related Net Income (Loss) Percentage Changes: 

						2013	2013
						vs	vs
			2013	2009	2007	2009	2007
			Audited	Audited	Audited	Audited	Audited
			Net	Net	Net	Net	Net
			Income	Income	Income	Income	Income
			(Loss)	(Loss)	(Loss)	(Loss)	(Loss)
West Virginia Company	HQs	FYE	$ 000s	$ 000s	$ 000s	% Change	% Change
United Bankshares	Charleston	Dec	85,628	67,298	90,674	27%	-6%
WesBanco	Wheeling	Dec	63,925	23,933	44,669	167%	43%
City Holding	Charleston	Dec	48,215	42,645	51,026	13%	-6%
American Public Education	Charles Town	Dec	42,034	23,943	8,750	76%	380%
Premier Financial Bancorp	Huntington	Dec	13,229	9,118	7,119	45%	86%
Summit Financial Group	Moorefield	Dec	8,068	(716)	13,537	1227%	-40%
MVB Financial	Fairmont	Dec	4,020	1,406	1,282	186%	214%
MTR Gaming Group	Chester	Dec	(9,131)	(23,698)	(5,490)	61%	-66%
Total all 8			255,988	143,929	211,567	78%	21%

More details to come.