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Wesbanco Bank Community Development Corporation (Tables) - WBCDC [Member]
12 Months Ended
Dec. 31, 2021
Schedule of Condensed Balance Sheet

 

(in thousands)

 

December 31, 2021

 

Assets

 

 

 

Cash and due from banks

 

$

68,141

 

Loans, net of allowance for credit losses of $0.8 million

 

 

56,517

 

Investments

 

 

5,417

 

Other assets

 

 

1,807

 

Total Assets

 

$

131,882

 

Liabilities

 

$

920

 

Shareholder Equity

 

 

130,962

 

Total Liabilities and Shareholder Equity

 

$

131,882

 

Schedule of Condensed Income Statement

 

(in thousands)

 

For the Year Ended December 31, 2021

 

Interest income

 

 

 

Loans

 

$

1,375

 

Other

 

 

-

 

Total interest income

 

 

1,375

 

Provision for credit losses

 

 

(214

)

Net interest income after provision for credit losses

 

 

1,589

 

Gain on investments

 

 

3,782

 

Non-interest expense

 

 

130

 

Income before provision for income taxes

 

 

5,241

 

Provision for income taxes

 

 

1,194

 

Net income

 

$

4,047

 

Schedule of Condensed Cash Flow Statement

 

(in thousands)

 

For the Year Ended December 31, 2021

 

Operating Activities

 

 

 

Net income

 

$

4,047

 

Provision for credit losses

 

 

(214

)

Gain on investments

 

 

(3,782

)

Net change in other assets

 

 

(1,014

)

Net change in other liabilities

 

 

674

 

Net cash used in operating activities

 

 

(289

)

Investing Activities

 

 

 

Increase in loans

 

 

(9,352

)

Net cash used in investing activities

 

 

(9,352

)

Financing Activities

 

 

 

Qualified equity investment by parent company

 

 

12,500

 

Net cash provided by financing activities

 

 

12,500

 

Net increase in cash and cash equivalents

 

 

2,859

 

Cash and cash equivalents at beginning of year

 

 

65,282

 

Cash and cash equivalents at end of year

 

$

68,141