Thursday, May 5, 2016

The 6 Publicly-Held West Virgina Non-Financial Companies Generated Total Losses of $46.6 Mil in Annual 2015 As Compared With Total Earnings of $19.3 Mil in Annual 2014 ..... US Capitalism as Implemented By the Democratic and Republican Establishments is Clearly Not Working in West Virginia ..... When the Banks Have All the Total Company Earnings in a State, the Economy of That State Has To Be Down the Tubes With State Citizens Severely Suffering Financially and the US Government is Doing Nothing To Deal With This Wholescale Poverty ..... On the Other Hand, the 6 Publicly-Held West Virginia Banks Are On Fire Generating Total Audited Earnings of $308 Mil in 2015, Up 10% Over 2014, Up 38% Over 2013, Up 61% Over 2012, Up 77% Over 2011, Up 98% Over 2010 and Up 115% Over 2009

From a review of US Company SEC filings, below here are the reported US GAAP Earnings (Losses) From Continuing Operations, Predominately Audited By One of the Prestigious Big 4 CPA Firms, for the most recent Annual Fiscal Year End (FYE) 2015 and for 2014 for each of the 6 Publicly-Held Financial and the 6 Publicly-Held Non-Financial West Virginia HQed Companies:




 Annual   Annual     




2015 2014




Net Net Increase Increase


Most Income Income (Decrease) (Decrease)
City State Recent (Loss) (Loss) Amount %
All West Virginia Publicly-Held Companies HQs HQs FYE  $ mils  $ mils  $ mils








Banking Companies






United Bankshares Inc Charleston WV Dec 15         138.0         130.0             8.0
WesBanco Inc Wheeling WV Dec 15           80.8           70.0           10.8
City Holding Company Charleston WV Dec 15           54.1           53.0             1.1
Summit Financial Group Moorefield WV Dec 15           16.1           11.4             4.7
Premier Financial Bancorp Huntington WV Dec 15           12.4           13.2            (0.8)
MVB Financial Corp Fairmont WV Dec 15             6.8             2.1             4.7








Total all 6 Banks


        308.2         279.7           28.5 10%








Non-Banking Companies






American Public Education Inc Charles Town WV Dec 15           32.4           40.9            (8.5)
Energy Services of America Corp Huntington WV Sep 15             2.1             3.7            (1.6)
Champion Industries Inc Huntington WV Oct 15            (1.2)            (1.1)            (0.1)
ProtoKinetix ST. Marys WV Dec 15            (1.3)            (0.2)            (1.1)
Protea Biosciences Group Morgantown WV Dec 15            (9.6)          (11.5)             1.9
Trans Energy Inc ST. Marys WV Dec 15          (69.0)          (12.5)          (56.5)








Total all 6 Non-Banks


         (46.6)           19.3          (65.9) -341%








Total all 12 Companies


        261.6         299.0          (37.4) -13%

Trans Energy hasn't filed its December 2015 financial statements with the SEC yet.  The Company did file with the SEC on March 31, 2016 that it expected its 2015 Operating Loss to be $18 mil to $20 mil and also that it would record a $50 mil Impairment Charge related to its Oil and Gas Properties.

Also from a review of US Company SEC filings, below here are the reported US GAAP Earnings (Losses) From Continuing Operations, Audited By One of the Prestigious Big 4 CPA Firms, for the most recent Annual Fiscal Year End (FYE) 2015 and for each of earlier Years of 2009-2014 for each of the 6 Publicly-Held Banks HQed in West Virginia:





 Annual   Annual   Annual   Annual   Annual   Annual   Annual 




2015 2014 2013 2012 2011 2010 2009




Net Net Net Net Net Net Net


Most Income Income Income Income Income Income Income
City State Recent (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)
All West Virginia Publicly-Held Financial Companies HQs HQs FYE  $ mils  $ mils  $ mils  $ mils  $ mils  $ mils  $ mils











Banking Companies









City Holding Company Charleston WV Dec 15        54.1        53.0        48.2        38.9        40.7        39.0        42.6
MVB Financial Corp Fairmont WV Dec 15          6.8          2.1          4.0          4.2          2.7          2.2          1.4
Premier Financial Bancorp Huntington WV Dec 15        12.4        13.2        13.2        10.3          7.2          9.2          9.1
Summit Financial Group Moorefield WV Dec 15        16.1        11.4          8.1          5.7          4.1        (2.0)        (0.7)
United Bankshares Inc Charleston WV Dec 15      138.0      130.0        85.6        82.6        75.6        71.9        67.3
WesBanco Inc Wheeling WV Dec 15        80.8        70.0        63.9        49.5        43.8        35.6        23.9











Total all 6 Banks


     308.2      279.7      223.0      191.2      174.1      155.9      143.6











2015 Total Earning % Increase Over:









………. 2014


10%





………. 2013


38%





………. 2012


61%





………. 2011


77%





………. 2010


98%





………. 2009


115%