WHEELING - Wesbanco Inc. earned $12 million in the first three months of 2012, representing a 17.1 percent increase from the $10.2 million the company collected during the same period in 2011.
"We are very pleased with the results of the first quarter, reflecting one of our best quarters since the recession," said Paul Limbert, president and chief executive officer of WesBanco Inc. "Our improved earnings have provided WesBanco with the opportunity to again increase the dividend to our shareholders. "During the past five quarters we have increased the dividend by 21 percent."
"WesBanco has been willing to work with customers through difficult times. "It is gratifying to see our customers' financial position improve as our overall economy improves," he added.
Net income for WesBanco for all of 2011 was $43.8 million compared to $35.6 million in 2010. Diluted earnings per share were $1.65 compared to $1.34 per share for 2010.
WesBanco is a multi-state bank holding company with total assets of approximately $5.6 billion, operating through 112 branch locations and 121 ATMs in West Virginia, Ohio, and Pennsylvania. WesBanco's banking subsidiary is WesBanco Bank, Inc., headquartered in Wheeling. WesBanco also operates an insurance brokerage company, WesBanco Insurance Services Inc., and a full service broker/dealer, WesBanco Securities Inc.