Sunday, October 21, 2018

West Virginia Banks Continue To Excel on the Earnings Front, Delivering Total Pretax Earnings Growth of an Exceptional 34% in the Most Recent Second Quarter of 2018, an Acceleration of Their 19% Robust Earnings Growth in the First Quarter of 2018 ...............................................................................

From a review of US SEC filings, there were 3 Companies headquartered in West Virginia ….. All Banks ….. with a stock market cap of more than $1 Bil several months ago.

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%