Tuesday, August 1, 2017

West Virginia Has Six Banks With Market Caps Above $100 Mil (Three of Them Have Market Caps Above $1 Bil) and Only One Non Bank With a Market Cap Above $100 Mil: a $350 Mil Market Cap Public Education Corp Which Has Had Earnings Declines of 25% and 22% in the Most Recent Two Years ....................................................................................... All of the Six Banks Have Done Well With Seven Straight Years of Nice Total Audited Earnings Growth, Which Averaged 13% Per Year For the Most Recent Seven Years (Whew!) ....................................................................................... The Problem is That Banks Don't Have That Many Good-Paying Jobs and Thus the West Virginia Economy is Not Doing Well ....................................................................................... When All a US State Has Is a Bank Economy, the State and its Citizens Have to be Really Hurting Economically ....................................................................................... In This No Win Situation For West Virginia Residents, it is the US Federal Government's Responsibility To Take Wise Action That Results in More Good-Paying Jobs in West Virginia and to Simply Say That the Coal Jobs Will Come Back to Save West Virginia is Pure Manipulative Deception ....................................................................................... The US Federal Government Needs to Creatively Figure Out How to Get West Virginia Substantially More Good-Paying Jobs ....................................................................................... The US Federal Government Can Do It, It Really is Not That Difficult, But It Hasn't Yet Creatively Figured Out How to Do It: It Has So Far Really Let Down West Virginia Citizens

From a review of the Google Finance Website and of company financial statements in the US SEC Website, I found 3 Companies headquartered in the US State of West Virginia with Stock Market Capitalizations either very late in 2016 or very early in 2017 of more than $1 Bil and 4 more with Stock Market Caps Between $100 Mil and $1 Bil.

Below here are the reported Audited US GAAP Earnings (Losses) From Continuing Operations of each of these 7 West Virginia Companies for all of the fiscal years from 2007 through 2016:




2016 2015 2014 2013 2012 2011 2010 2009 2008 2007



Most Audited Audited Audited Audited Audited Audited Audited Audited Audited Audited



Recent Net Net Net Net Net Net Net Net Net Net
West Virginia Companies City State 2016 Income Income Income Income Income Income Income Income Income Income
Market Caps Above $100 Mil HQs HQs FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)



 $ mils  $ mils  $ mils  $ mils  $ mils  $ mils  $ mils  $ mils  $ mils  $ mils
Banks












Market Caps Above $1 Bil












United Bankshares Inc Charleston WV Dec16        147        138        130          86          83          76          72          67          87          91
WesBanco Inc Wheeling WV Dec16          87          81          70          64          50          44          36          24          38          45
City Holding Company Charleston WV Dec16          52          54          53          48          39          41          39          43          28          51
Total all 3


       286        273        253        198        172        161        147        134        153        187














Market Caps $100 Mil-$1 Bil











Summit Financial Group Moorefield WV Dec16          17          16          11            8            6            4          (2)          (1)            2          14
Premier Financial Bancorp Huntington WV Dec16          12          12          13          13          10            7            9            9            8            7
MVB Financial Corp Fairmont WV Dec16            9            7            3            4            4            3            2            1            1            1
Total all 3


         38          35          27          25          20          14            9            9          11          22














Total all 6 Banks


       324        308        280        223        192        175        156        143        164        209




5% 10% 26% 16% 10% 12% 9%


Year-Over-Year Total Earnings % Growth











….. 2016 Above 2015


5%








….. 2015 Above 2014


10%








….. 2014 Above 2013


26%








….. 2013 Above 2012


16%








….. 2012 Above 2011


10%








….. 2011 Above 2010


12%








….. 2010 Above 2009


9%






















Average Annual Earnings % Growth 2010 to 2016
13%






















Non-Bank












American Public Education Charles Town WV Dec16          24          32          41          42          42          41          30          24          16            9
...2016 Earnings Below 2015


-25%








...2015 Earnings Below 2014


-22%









The State of West Virginia is blessed with having as a native Sylvia Burwell who would make an excellent US Presidential candidate in the 2020 election.  She could add a lot in the debates which should have probably more than 20 candidates.  I hope she runs.