Current
West Virginia US Senator Joe Manchin has served in the US Senate from November 2010
to now.
From
a review of SEC filings, there are 7 West Virginia headquartered Companies with
stock market caps above $100 mil recently which have filed their annual audited
financial statements consecutively from Fiscal Year End (FYE) 2011 through FYE
2017.
Nearly
all Republicans, a high percentage of Independents and even many perceptive
Democrats all agree as a starting point that for US capitalism to work
properly, Companies must generate in the aggregate reasonably healthy profits.
Of
these 7 Cos, 6 are Banks, all with stock market caps above $200 Mil.
And
did these West Virginia Banks ever post healthy profits while Joe Manchin has
served in the US Senate.
The 6 largest West Virginia Banks, which dominate the West Virginia earnings
landscape, generated Audited US GAAP Total Pretax Earnings of $581 Mil in 2017,
up an incredible 174% during Joe Manchin’s current US Senate term.
And
these 6 West Virginia Banks have shown very consistently strong total earnings
growth which ranged from 7% to 22% annually in all years from 2011 to 2017 with
an average annual earnings growth of an exceptional 16%.
From
a review of SEC filings, the chart below shows the Audited Gold-Standard US
GAAP Pretax Income (Loss) From Continuing Operations for annual years 2010
through 2017 for these 6 West Virginia Banks.
| 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | ||||
| Audited | Audited | Audited | Audited | Audited | Audited | Audited | Audited | ||||
| Pretax | Pretax | Pretax | Pretax | Pretax | Pretax | Pretax | Pretax | ||||
| West Virginia Banks | City | Most | Income | Income | Income | Income | Income | Income | Income | Income | |
| Stock Market Caps > $200 Mil | Headquarters | Recent | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | |
| FYE | $ mils | $ mils | $ mils | $ mils | $ mils | $ mils | $ mils | $ mils | |||
| United Bankshares Inc | Charleston | WV | Dec 17 | 285 | 223 | 203 | 195 | 125 | 121 | 110 | 104 |
| WesBanco Inc | Wheeling | WV | Dec 17 | 148 | 118 | 109 | 94 | 85 | 63 | 54 | 40 |
| City Holding Company | Charleston | WV | Dec 17 | 91 | 77 | 83 | 77 | 73 | 59 | 61 | 57 |
| Premier Financial Bancorp | Huntington | WV | Dec 17 | 23 | 19 | 19 | 20 | 21 | 16 | 11 | 13 |
| Summit Financial Group | Moorefield | WV | Dec 17 | 22 | 25 | 23 | 16 | 11 | 7 | 5 | (5) |
| MVB Financial Corp | Fairmont | WV | Dec 17 | 12 | 13 | 9 | 2 | 5 | 6 | 4 | 3 |
| Total all 6 Banks | 581 | 475 | 446 | 404 | 320 | 272 | 245 | 212 | |||
Pretax
Income % Increase Over Preceding Year
|
22%
|
7%
|
10%
|
26%
|
18%
|
11%
|
16%
|
||||
Average
Annual Earnings % Growth 2010 to 2017
|
16% | ||||||||||
Pretax % Increase From 2010 to
2017
|
174% | ||||||||||
