My focus is on Pretax Income rather than on After-Tax Net Income
because Income Taxes are simply a transfer of financial wealth between US
Corporations and the US Federal, US State and Foreign Governments. It has
nothing whatsoever to do with Company Operating Performance.
From a review of SEC filings, the chart below shows the
Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the Second
and First Quarters of both 2018 and 2017 for these 3 West Virginia Banks.
| US | US | US | US | ||||
| GAAP | GAAP | GAAP | GAAP | ||||
| Pretax | Pretax | Pretax | Pretax | ||||
| Income | Income | Income | Income | ||||
| (Loss) | (Loss) | (Loss) | (Loss) | ||||
| June Qtr | June Qtr | Better | Mar Qtr | Mar Qtr | Better | ||
| July Qtr | July Qtr | (Worse) | Apr Qtr | Apr Qtr | (Worse) | ||
| West Virginia Companies | or Aug Qtr | or Aug Qtr | % | or May Qtr | or May Qtr | % | |
| Market Caps Above $1 Bil | 2018 | 2017 | Change | 2018 | 2017 | Change | |
| mils $ | mils $ | mils $ | mils $ | ||||
| United Bankshares | 85 | 56 | 52% | 80 | 59 | 36% | |
| Wesbanco | 40 | 36 | 41 | 37 | |||
| City Holding | 26 | 21 | 22 | 24 | |||
| Total all 3 West Virginia Banks | 151 | 113 | 34% | 143 | 120 | 19% |