26 January 2021
Fourth Quarter 2020
Forward-Looking Statements and Non-GAAP Financial Measures
1
Forward-looking statements in this report relating to
WesBanco’s plans, strategies, objectives, expectations, intentions and adequacy of resources, are made
pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The information contained in this report should be read in
conjunction with
WesBanco’s Form 10-K for the year ended December 31, 2019 and documents subsequently filed by WesBanco with the Securities and
Exchange Commission
(“SEC”), including WesBanco’s Form 10-Q for the quarters ended March 31, June 30, and September 30, 2020, which are available at
the
SEC’s website, www.sec.gov or at WesBanco’s website, www.WesBanco.com. Investors are cautioned that forward-looking statements, which are not
historical fact, involve risks and uncertainties, including those detailed in
WesBanco’s most recent Annual Report on Form 10-K filed with the SEC under “Risk
Factors” in Part I, Item 1A and under “Risk Factors” in Part II, Item 1A of WesBanco’s March 31, June 30, and September 30, 2020 Quarterly Reports on Form
10-Q. Such statements are subject to important factors that could cause actual results to differ materially from those contemplated by such statements,
including, without limitation, the effects of changing regional and national economic conditions including the effects of the COVID-19 pandemic; changes in
interest rates, spreads on earning assets and interest-bearing liabilities, and associated interest rate sensitivity; sources of liquidity available to WesBanco and
its related subsidiary operations; potential future credit losses and the credit risk of commercial, real estate, and consumer loan customers and their borrowing
activities; actions of the Federal Reserve Board, the Federal Deposit Insurance Corporation, the SEC, the Financial Institution Regulatory Authority, the
Municipal Securities Rulemaking Board, the Securities Investors Protection Corporation, and other regulatory bodies; potential legislative and federal and state
regulatory actions and reform, including, without limitation, the impact of the implementation of the Dodd-Frank Act; adverse decisions of federal and state
courts; fraud, scams and schemes of third parties; cyber-security breaches; competitive conditions in the financial services industry; rapidly changing technology
affecting financial services; marketability of debt instruments and corresponding impact on fair value adjustments; and/or other external developments materially
impacting
WesBanco’s operational and financial performance. WesBanco does not assume any duty to update forward-looking statements.
In addition to the results of operations presented in accordance with Generally Accepted Accounting Principles (GAAP), WesBanco's management uses, and
this presentation contains or references, certain non-GAAP financial measures, such as pre-tax pre-provision income, tangible common equity/tangible assets;
net income excluding after-tax restructuring and merger-related expenses; efficiency ratio; return on average assets; and return on average tangible equity.
WesBanco believes these financial measures provide information useful to investors in understanding our operational performance and business and
performance trends which facilitate comparisons with the performance of others in the financial services industry. Although WesBanco believes that these
non-GAAP financial measures enhance investors' understanding of WesBanco's business and performance, these non-non-GAAP financial measures should not be
considered an alternative to GAAP. The non-GAAP financial measures contained therein should be read in conjunction with the audited financial statements
and analysis as presented in the Annual Report on Form 10-K as well as the unaudited financial statements and analyses as presented in the Quarterly
Reports on Forms 10-Q for WesBanco and its subsidiaries, as well as other filings that the company has made with the SEC.
Q4 2020 Financial and Operational Highlights
2
Note: financial and operational highlights during the quarter ended December 31, 2020; loan growth includes approximately $726.3 million of loans funded through the Small Business Administration’s Paycheck Protection Program (“SBA PPP”), as established by the CARES Act; Old Line Bancshares, Inc. (“OLBK”) financial results included in WSBC results since merger consummation date of 11/22/2019(1) Non-GAAP measure – please see reconciliation in appendix
WesBanco is well-capitalized with solid liquidity
and a strong balance sheet
Total risk-based capital ratio 17.57%
Strong growth in pre-tax, pre-provision income
Positive growth in both loans and deposits
Mortgage banking income increased due to a
high volume of originations
Continued emphasis on expense management
Financial center optimization strategy completed
Key credit quality metrics remained at low levels
and favorable to peer bank averages
Trust assets under management totaled a record
$5.0 billion
Pre-Tax, Pre-Provision Income
(1)
$64.8 million, +14.2% YoY
Net Income Available to Common
Shareholders and Diluted EPS
(1)
$50.6 million; $0.76/diluted share
Efficiency Ratio
(1)
57.06%
Mortgage Banking Income
$5.4 million, +84.0% YoY
Loan Growth
+5.1% YoY
Deposit Growth (x-CDs)
+20.8% YoY
Q4 2020 Key Metrics
3
Note: PTPP = pre-tax, pre-provision; OLBK financial results included in WSBC results since merger consummation date of 11/22/2019(1) Non-GAAP measure – please see reconciliation in appendix (2) Excludes restructuring and merger-related expenses
H / (L)
H / (L)
H / (L)
12/31/20
12/31/19
09/30/20
12/31/20
12/31/19
Return on Average Assets
(1)(2)1.22%
(8bp)
17bp
0.77%
(57bp)
PTPP Return on Average Assets
(1)(2)1.56%
(6bp)
(8bp)
1.60%
(12bp)
Return on Average Tangible Equity
(1)(2)13.28%
(96bp)
97bp
9.12%
(598bp)
PTPP Return on Average Tangible Equity
(1)(2)17.00%
(78bp)
(200bp)
18.28%
(111bp)
Tangible Book Value per Share ($)
(1)$21.75
0.9%
1.7%
$21.75
0.9%
Efficiency Ratio
(1)(2)57.06%
(123bp)
183bp
56.38%
(30bp)
Net Interest Margin
3.31%
(24bp)
0bp
3.37%
(25bp)
Non-Performing Assets to Total Assets
0.25%
(10bp)
(1bp)
0.25%
(10bp)
Net Loan Charge-offs to Average Loans (annualized)
0.02%
(18bp)
2bp
0.06%
(3bp)
Total Loan Growth = 5.1%
Total Loan Growth = (1.8%) (un-annualized)
SBA PPP PayoffsComm'l Comm'l New Originations All Other Net Advances / (Paydow ns) Comm'l Avg Payoff Yield 4.56% Comm'l Avg New Yield 3.36%
SBA PPP PayoffsComm'l Comm'l New Originations All Other Net Advances / (Paydow ns)
Q4 2020 Total Portfolio Loans ($MM)
4
~6,850 SBA PPP loans from the
first rounds totaling ~$726MM
remaining
(as of 12/31/2020)
(recorded in C&I loan category)
Q4 residential real estate loan
levels were impacted by
retaining a smaller percentage
of the $351 million of Q4
mortgage origination dollar
volume (~50% refi) on the
balance sheet
Sales to the secondary market
increased significantly to ~65%
(vs. 40-50% historically)
Q4 consumer loans declined
17.6% YoY reflecting payoffs
driven by utilization of residential
mortgage refinancing and higher
personal savings
5
Customer Support Efforts During the Pandemic
Note: deferral data reflects loan deferrals accepted and closed by customers for each time period; the majority of hospitalit y loan-to-values are pre-pandemic
Pandemic-related loan deferral balances down ~90% from May 2020 peak
All retail deferrals targeted to run-off by 3/31/2021
Non-hospitality commercial deferrals targeted to run-off by 4/30/2021
The hospitality portfolio has been fully reviewed, and associated loan deferrals are
CARES Act qualified
Hospitality loan deferrals represent ~20% of total hospitality loans outstanding
Majority of hospitality deferrals could remain throughout 2021, however, if certain triggers
are met, loans could come off deferral earlier
Average loan-to-value ~67%
The Economic Aid Act added second draw SBA PPP loans to provide additional
assistance to borrowers who previously received a loan, including hotels which will be
eligible for a forgivable loan up to three and one half times their average monthly payroll
Pandemic-Related Loan Deferrals
May peak
07/31/2020
10/16/2020
12/31/2020
Commercial - All Other
$1,428
$550
$251
$4
Commercial - Hospitality
$605
$512
$256
$150
Residential Mortgages
$132
$31
$24
$16
HELOCs
$16
$4
$2
$0
Consumer
$10
$3
$2
$1
Total Deferrals
$2,191
$1,100
$535
$171
as % of total loans incl. PPP
(3/31, 6/30, 9/30, 12/31 respectively)
21.2%
9.9%
4.9%
1.6%
Fixed
Rate
34%
Variable
Rate
66%
4Q2020 Com mercial Loan Portfolio Index Mix
~$2.3MM of the commercial portf olio has f loors, with ~69% of these currently at their f loors of 4.22% (av g)
<3 Months 45% 3 to 24 Months 3% 24 to 48 Months 3% 48 to 60 Months 46% >60 Months 3% Variable Commercial Loan Repricing
4.75% 4.12% 4.25% 3.61% 3.55% 3.31% 0.99% 0.45% 0.63% 0.23% 0.22% 0.16% 4Q2019 1Q2020 2Q2020 3Q2020 4Q2020
Net Interest Margin & Components
YoY H/(L) (63)bp (64)bp (24)bp (54)bp (40)bp (6)bp Total Loan Yield
Total Earning Assets Yield
Net Interest Margin
Total Interest-Bearing Liabilities Cost Total Interest-Bearing Deposit Cost Purchase Accounting Accretion
Q4 2020 Net Interest Margin (NIM)
6
NIM negatively impacted by
the low interest rate
environment and flattening of
the yield curve
The
Federal Reserve Board’s
target federal funds rate was
reduced 225bp from July
2019 through March 2020
Aggressively reduced deposit
rates throughout 2020, which
helped to lower deposit
funding costs
Average FHLB borrowings of
$0.5B, with remaining average
life of less than one year,
down $0.9B year-over-year
Funding of SBA PPP loans
benefited NIM by a net 2bp
Note: OLBK financial results included in WSBC results since merger consummation date of 11/22/2019; commercial loan portfolio index mix excludes SBA PPP loansQuarter Ending
% H / (L)
% H / (L)
($000s)
12/31/20
12/31/19
09/30/20
Trust fees
$6,754
0.8%
5.1%
Service charges on deposits
5,671
(20.9%)
6.4%
Electronic banking fees
4,424
2.0%
(7.4%)
Net securities brokerage revenue
1,402
0.6%
(18.7%)
Bank-owned life insurance
1,750
(7.0%)
(16.2%)
Mortgage banking income
5,442
84.0%
(35.9%)
Net securities gains
691
32.9%
(12.2%)
Net (loss)/gain on OREO & other assets
18
(70.5%)
(194.6%)
Other income
6,553
12.6%
30.9%
Total non-interest income
$32,705
6.1%
(5.5%)
Q4 2020 Non-Interest Income
7
Mortgage banking fees increased
due to a 75% year-over-year
increase in 1-to-4 family residential
mortgage origination dollar volume,
and the associated sale of ~65% of
those originations into the
secondary market
(40-50% historically)
Service charges on deposits were
lower year-over-year due to higher
consumer deposits associated with
CARES Act stimulus and lower
general consumer spending,
resulting in fewer eligible account
fees
Trust fees increased both
year-over-year and sequentially due to
higher levels of assets under
management due to both market
appreciation and organic growth
Quarter Ending
% H / (L)
% H / (L)
($000s)
12/31/20
12/31/19
09/30/20
Salaries and wages
$39,140
5.8%
2.1%
Employee benefits
10,608
7.2%
0.0%
Net occupancy
6,771
9.9%
(4.5%)
Equipment
6,810
22.3%
9.3%
Marketing
1,675
(18.6%)
6.2%
FDIC insurance
1,278
91.3%
(34.4%)
Amortization of intangible assets
3,327
14.1%
(0.6%)
Other operating expenses
17,976
7.1%
4.5%
Sub-total non-interest expense
$87,585
8.1%
1.4%
Restructuring & merger-related
484
(95.8%)
(86.6%)
Total non-interest expense
$88,069
(4.8%)
(2.1%)
Q4 2020 Non-Interest Expense
8
Total operating expenses remained
well-controlled through
company-wide efforts
Efficiency ratio improved 123bp
year-over-year to 57.06%
Total non-interest expense increased
year-over-year due to the additional
staffing and financial center locations
from the OLBK acquisition
Salaries and wages also reflect
mid-year annual salary increases
FDIC insurance expense reflects
higher assessment rate associated
with our larger asset level; plus, the
recording of a $0.7MM assessment
credit in the prior year period
Q4 restructuring charges from
financial center optimization plan
totaled $0.3MM, and merger-related
charges totaled $0.2MM
0.35%
0.26%
0.25%
0.26%
0.25%
0.62%
0.67%
0.64%
0.68%
12/31/2019
3/31/2020
6/30/2020
9/30/2020
12/31/2020
WSBC $10-25B Banks
Non-Performing Assets as % of Total Assets
0.20%
0.18%
0.07%
0.00%
0.02%
0.21%
0.22%
0.22%
0.20%
12/31/2019
3/31/2020
6/30/2020
9/30/2020
12/31/2020
WSBC $10-25B Banks
Net Charge-Offs as % of Average Loans
(Annualized)
0.51%
1.10%
1.52%
1.68%
1.72%
0.81%
1.28%
1.40%
1.50%
12/31/2019
3/31/2020
6/30/2020
9/30/2020
12/31/2020
WSBC $10-25B BanksAllowance for Credit Losses as % of Total Loans
2.17%
2.09%
2.23%
3.25%
4.59%
3.07%
3.35%
3.47%
4.56%
12/31/2019
3/31/2020
6/30/2020
9/30/2020
12/31/2020
WSBC $10-25B Banks
Criticized & Classified Loans as % of Total Loans
Favorable asset quality measures compared to all U.S. banks with total
assets from $10B to $25B
Strong Legacy of Credit Quality
9
Note: financial data as of quarter ending for dates specified; Current Expected Credit Losses (“CECL”) accounting standard adopted January 1, 2020 by WSBC; peer bank
The increase in the allowance was related to the COVID-19 related adjustments
and changes in prepayment assumptions and the loan portfolio partially offset by
improvement in the macroeconomic forecast
Allowance coverage ratio of 1.72%, or, excluding SBA PPP loans, 1.85%
Excludes fair market value adjustments on previously acquired loans representing 0.37%
of total portfolio loans
Q4 2020 Current Expected Credit Loss (CECL)
10
Note: ACL at 12/31/2020 excludes off-balance sheet credit exposures of $9.5 million; on January 1, 2020, WSBC adopted the CECL account ing standard (prior to this date, the allowance for credit losses was calculated under the incurred method)Economic
Factors
Portfolio
Changes / Other
Pandemic
Qualitative Factors
Changes to
macroeconomic
variables
Includes changes
in both quantitative
and qualitative
economic factors
Changes in
prepayment
speeds
Changes in
portfolio mix
Changes in
credit quality
Aging of existing
portfolio
($000s)
Qualitative
adjustments for
COVID-19
pandemic, regional
macroeconomic
factors, and
hospitality industry
classification loans
Tier 1 Risk-Based Capital Ratio
11
Strong Capital Position
Strong regulatory capital ratios significantly above both regulatory
requirements and well-capitalized levels; and, higher tangible equity levels
Enhanced by the August 2020 issuance of $150 million of preferred stock
Note: financial data as of quarter ending 12/31; current year data as of 12/31/2020; CECL accounting standard adopted January 1, 2020 by WSBC; peer bank group as of 9/30/20 includes all U.S. banks with total assets of $10B to $25B from S&P Global Market Intelligence (as of 1/15/2021) and represent simple averages
(1) Non-GAAP measure – please see reconciliation in appendix
5.94%
7.90%
5.88%
6.33%
6.73%
6.84%
7.35%
7.88%
7.95%
8.20%
8.79%
9.28%
10.02%
10.52%
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Tangible Equity to Tangible Assets
(1)
10.43%
13.21%
11.12%
11.94%
12.68% 12.82% 13.06%
13.76% 13.35% 13.16%
14.12%
15.09%
12.89%
14.72%
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Well-Capitalized
8.0%
Required
6.0%
Peers 13.20% Peers 9.66%Reconciliation: Pre-Tax, Pre-Provision Income (PTPP) and Ratios
13
Note: Old Line Bancshares merger closed November 2019($000s) 12/31/20 09/30/20 12/31/19 12/31/20 12/31/19
Income before Provision for Income Taxes $64,557 $48,974 $43,422 $145,079 $193,214
Provision for Credit Losses (209) 16,288 1,824 107,741 11,198
Pre-Tax, Pre-Provision Income ("PTPP") $64,348 $65,262 $45,246 $252,820 $204,412
Restructuring and Merger-Related Expense 484 3,608 11,522 9,725 16,397
PTPP (excluding restructuring and merger-related expense) $64,832 $68,870 $56,768 $262,545 $220,809
PTPP (excluding restructuring and merger-related expense) $64,832 $68,870 $56,768 $262,545 $220,809 Average Total Assets 16,546,761 16,719,717 13,919,430 16,442,704 12,853,920
PTPP Return on Average Assets 1.56% 1.64% 1.62% 1.60% 1.72%
PTPP (excluding restructuring and merger-related expense) $64,832 $68,870 $56,768 $262,545 $220,809
Amortization of Intangibles 3,327 3,346 2,916 13,411 10,340
PTPP before Amortization of Intangibles (excluding restructuring and merger-related expense) $68,159 $72,216 $59,684 $275,956 $231,149 Average Total Shareholders' Equity $2,744,936 $2,662,513 $2,329,121 $2,651,402 $2,119,995
Average Goodwill and Other Intangibles (net of deferred tax liability) (1,150,184) (1,150,549) (997,658) (1,141,528) (927,974)
Average Tangible Equity $1,594,752 $1,511,964 $1,331,463 $1,509,874 $1,192,021
PTPP Return on Average Tangible Equity 17.00% 19.00% 17.78% 18.28% 19.39%
Year-to-Date Quarter Ending
($000s, except shares and per share data) 12/31/20 09/30/20 12/31/19 12/31/20 12/31/19
Total Shareholders' Equity $2,756,737 $2,732,966 $2,593,921 $2,756,737 $2,593,921
Goodwill & Other Intangible Assets (net of deferred tax liability) (1,149,161) (1,150,939) (1,132,262) (1,149,161) (1,132,262)
Preferred Shareholders' Equity (144,484) (144,529) 0 (144,484) 0
Tangible Common Equity (period end) $1,463,092 $1,437,498 $1,461,659 $1,463,092 $1,461,659
Common Shares Outstanding (period end) (000s) 67,255 67,216 67,824 67,255 67,824
Tangible Book Value per Share ($) $21.75 $21.39 $21.55 $21.75 $21.55
Quarter Ending Year-to-Date
($000s, except earnings per share) 12/31/20 09/30/20 12/31/19 12/31/20 12/31/19
Net Income Available to Common Shareholders $50,210 $41,305 $36,376 $119,400 $158,873 Restructuring and Merger-Related Expense (net of tax) 383 2,850 9,102 7,683 12,954 Net Income Available to Common Shareholders (excluding restructuring and
merger-related expense) $50,593 $44,155 $45,478 $127,083 $171,827
Net Income Available to Common Shareholders per Diluted Share ($) $0.75 $0.61 $0.60 $1.77 $2.83 Restructuring and Merger-Related Expense (net of tax) 0.01 0.05 0.15 0.11 0.23 Net Income Available to Common Shareholders per Diluted Share ($) (excluding
restructuring and merger-related expense) $0.76 $0.66 $0.75 $1.88 $3.06
Average Common Shares Outstanding – Diluted (000s) 67,304 67,269 60,562 67,311 56,214
Quarter Ending Year-to-Date
Reconciliation: Net Income, EPS (Diluted), Tangible Book Value per Share
14
Note: Old Line Bancshares merger closed November 2019($000s) 12/31/20 09/30/20 12/31/19 12/31/20 12/31/19
Non-Interest Expense $88,069 $89,943 $92,556 $354,845 $312,208
Restructuring & Merger-Related Expense (484) (3,608) (11,522) (9,725) (16,397) Non-Interest Expense (excluding restructuring and merger-related expense) $87,585 $86,335 $81,034 $345,120 $295,811
Net Interest Income (FTE-basis) $120,790 $121,705 $108,177 $483,999 $405,222
Non-Interest Income 32,705 34,612 30,838 128,185 116,716
Total Income $153,495 $156,317 $139,015 $612,184 $521,938
Efficiency Ratio 57.06% 55.23% 58.29% 56.38% 56.68%
Quarter Ending Year-to-Date
Reconciliation: Efficiency Ratio
15
Note: “efficiency ratio” is non-interest expense excluding restructuring and merger-related expense divided by total income; FTE represents fully taxable equivalent; Old Line($000s) 12/31/20 09/30/20 12/31/19 12/31/20 12/31/19
Net Income Available to Common Shareholders $50,210 $41,305 $36,376 $119,400 $158,873
Restructuring and Merger-Related Expenses (net of tax) 383 2,850 9,102 7,683 12,954
Net Income Available to Common Shareholders (excluding restructuring and
merger-related expense) $50,593 $44,155 $45,478 $127,083 $171,827
Average Total Assets $16,546,761 $16,719,717 $13,919,430 $16,442,704 $12,853,920
Return on Average Assets (1) 1.21% 0.98% 1.04% 0.73% 1.24%
Return on Average Assets (excluding restructuring and merger-related expense) (1) 1.22% 1.05% 1.30% 0.77% 1.34%
Quarter Ending Year-to-Date
Reconciliation: Return on Average Assets
16
Note: Old Line Bancshares merger closed November 2019($000s) 12/31/20 09/30/20 12/31/19 12/31/20 12/31/19
Net Income Available to Common Shareholders $50,210 $41,305 $36,376 $119,400 $158,873
Amortization of Intangibles (tax effected at 21%) 2,628 2,643 2,304 10,595 8,169 Net Income Available to Common Shareholders before Amortization of Intangibles $52,838 $43,948 $38,680 $129,995 $167,042 Restructuring and Merger-Related Expenses (net of tax) 383 2,850 9,102 7,683 12,954 Net Income Available to Common Shareholders before Amortization of Intangibles (excluding
restructuring and merger-related expense) $53,221 $46,798 $47,782 $137,678 $179,996
Average Total Shareholders' Equity $2,744,936 $2,662,513 $2,329,121 $2,651,402 $2,119,995
Average Goodwill and Other Intangibles (net of deferred tax liability) (1,150,184) (1,150,549) (997,658) (1,141,528) (927,974) Average Tangible Equity $1,594,752 $1,511,964 $1,331,463 $1,509,874 $1,192,021
Return on Average Tangible Equity (1) 13.18% 11.56% 11.53% 8.61% 14.01%
Return on Average Tangible Equity (excluding restructuring and merger-related expense) (1) 13.28% 12.31% 14.24% 9.12% 15.10%
Quarter Ending Year-to-Date
Reconciliation: Return on Average Tangible Equity
17
Note: Old Line Bancshares merger closed November 2019Reconciliation: Tangible Equity to Tangible Assets
18
Note: Old Line Bancshares merger closed November 2019; Farmers Capital Bank Corporation merger closed August 2018; First Sent ry Bancshares merger closed April 2018; Your Community Bankshares merger closed September 2016; ESB Financial merger closed February 2015; Fidelity Bancorp merger closed November 2012; AmTrust 5 branch acquisition closed March 2009; Oak Hill Financial closed November 2007($000s) 12/31/07 12/31/08 12/31/09 12/31/10 12/31/11 12/31/12 12/31/13 12/31/14 12/31/15 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20
Total Shareholders' Equity $580,319 $659,371 $588,716 $606,863 $633,790 $714,184 $746,595 $788,190 $1,122,132 $1,341,408 $1,395,321 $1,978,827 $2,593,921 $2,756,737 Goodwill and Other Intangible
Assets (net of deferred tax liability) (276,730) (267,883) (288,292) (285,559) (279,967) (320,399) (318,161) (316,914) (487,270) (586,403) (583,903) (906,887) (1,132,262) (1,149,161)
Tangible Equity $303,589 $391,488 $300,424 $321,304 $353,823 $393,785 $428,434 $471,276 $634,862 $755,005 $811,418 $1,071,940 $1,461,659 $1,607,576
Total Assets $5,384,326 $5,222,041 $5,397,352 $5,361,458 $5,536,030 $6,078,717 $6,144,773 $6,296,565 $8,470,298 $9,790,877 $9,816,178 $12,458,632 $15,720,112 $16,425,610 Goodwill and Other Intangible
Assets (net of deferred tax liability) (276,730) (267,883) (288,292) (285,559) (279,967) (320,399) (318,161) (316,914) (487,270) (586,403) (583,903) (906,887) (1,132,262) (1,149,161)
Tangible Assets $5,107,596 $4,954,158 $5,109,060 $5,075,899 $5,256,063 $5,758,318 $5,826,612 $5,979,651 $7,983,028 $9,204,474 $9,232,275 $11,551,745 $14,587,850 $15,276,449
Tangible Equity to Tangible Assets 5.94% 7.90% 5.88% 6.33% 6.73% 6.84% 7.35% 7.88% 7.95% 8.20% 8.79% 9.28% 10.02% 10.52%