Premier announces second quarter results
HUNTINGTON — Premier Financial Bancorp Inc., a $1.7 billion financial holding company with two community bank subsidiaries, announced its financial results for the second quarter of 2019.
Premier realized net income of $5,859,000 (40 cents per diluted share) during the quarter ended June 30, 2019, a 33.9% increase from the $4,375,000 of net income reported for the second quarter of 2018.
The increase in net income during the second quarter of 2019 is largely due to increases in loan interest income, investment interest income and non-interest income as well as a decrease in the provision for loan losses, the bank said in a news release.
On a diluted per share basis, Premier earned 40 cents during the second quarter of 2019, compared to 32 cents per share earned during the second quarter of 2018. For the first half of 2019, Premier realized net income of $12,035,000 (82 cents per diluted share), a 26.6% increase over the $9,508,000 (71 cents per diluted share) earned during the first half of 2018.
Huntington Bancshares reports quarter earnings
COLUMBUS, Ohio — Huntington Bancshares Inc. reported net income for the 2019 second quarter of $364 million, an increase of 3% from the year-ago quarter.
Earnings per common share for the 2019 second quarter were 33 cents, up 10% from the year-ago quarter. Tangible book value per common share as of 2019 second quarter-end was $7.97, a 10% year-over-year increase.
Return on average assets was 1.36%, return on average common equity was 13.5% and return on average tangible common equity was 17.7%.
United Bankshares reports record earnings
CHARLESTON — United Bankshares Inc. has reported record earnings for the second quarter and the first half of 2019. Earnings for the second quarter of 2019 were a record $67.2 million as compared to earnings of $66.3 million for the second quarter of 2018.
Diluted earnings per share were 66 cents for the second quarter of 2019 as compared to diluted earnings per share of 63 cents for the second quarter of 2018. Earnings for the first half of 2019 were a record $130.8 million as compared to earnings of $128 million for the first half of 2018. Diluted earnings per share were $1.28 for the first half of 2019 as compared to diluted earnings per share of $1.22 for the first half of 2018.
Second quarter of 2019 results produced an annualized return on average assets of 1.38%, an annualized return on average equity of 8.12% and an annualized return on average tangible equity of 14.90%, respectively.
For the first half of 2019, United's annualized return on average assets was 1.36%, while the annualized return on average equity was 8% and the annualized return on average tangible equity was 14.78%. United's annualized returns on average assets, average equity and average tangible equity were 1.42%, 8.11% and 15.14%, respectively, for the second quarter of 2018, while the annualized returns on average assets, average equity and average tangible equity were 1.39%, 7.88% and 14.72%, respectively, for the first half of 2018.
OVBC reports second quarter earnings
GALLIPOLIS, Ohio — Ohio Valley Banc Corp. reported consolidated net income for the quarter ended June 30 of $3,079,000, an increase of 3.5% from the $2,976,000 earned for the second quarter of 2018.
Earnings per share for the second quarter of 2019 were 65 cents, compared to 63 cents for the prior year second quarter.
For the six months ended June 30, 2019, net income totaled $4,272,000, a decrease of $2,070,000 from the same period the prior year. Earnings per share were 90 cents for the first six months of 2019 versus $1.34 for the first six months of 2018.
Return on average assets and return on average equity were .83% and 7.20%, respectively, for the first half of 2019, compared to 1.16% and 11.53%, respectively, for the same period in the prior year.
St. Mary's receives award for treatment
HUNTINGTON — St. Mary's Medical Center has received the American College of Cardiology's NCDR Chest Pain — MI Registry Platinum Performance Achievement Award for 2019. St. Mary's is one of 225 out of 5,000 hospitals nationwide to receive the honor.
The award recognizes St. Mary's commitment and success in implementing a higher standard of care for heart attack patients. It also signifies that St. Mary's has reached a goal of treating these patients to standard levels of care as outlined by the American College of Cardiology/American Heart Association clinical guidelines and recommendations.
To receive the Chest Pain — MI Registry Platinum Performance Achievement Award, St. Mary's has demonstrated sustained achievement in the Chest Pain — MI Registry for eight consecutive quarters and has performed at the top level of standards for specific performance measures. Full participation in the registry engages hospitals in a quality improvement process using data to drive improvements in adherence to guideline recommendations and overall quality of care provided to heart attack patients.
"Our patients are our top priority," said Regina Campbell, director of St. Mary's Regional Heart Institute. "We are honored to receive this award, which recognizes our commitment."
RCBI helps Hercules International pass audit
HUNTINGTON — Huntington-based manufacturer Hercules International recently passed its ISO 9001:2015 surveillance audit with zero nonconformities. ISO 9001 is an internationally recognized Quality Management Systems standard that signifies company procedures for producing parts and services that consistently meet customer and regulatory requirements.
Erica Cheetham, director of Quality Services at the Robert C. Byrd Institute (RCBI), began working with Hercules officials in April to enhance their quality systems, maintain the company's standards and prepare for a mandatory audit. ISO certification often is required to become a supplier to large prime manufacturers and government agencies or the military.
"Certain Hercules customers require this certification, and we are proud to deliver this level of quality to all of our production," said Alex Ortega, plant manager. "We already are receiving new inquiries from potential overseas customers who recognize the stringent quality control required to meet these standards."
Cheetham said the achievement demonstrates Hercules meets the most stringent standards for quality and will ensure the company's continued competitiveness while expanding its supply chain opportunities.
Hercules manufactures brake camshafts and air brake components for the transportation industry at its facility north of Huntington along W.Va. 2 and employs about 58 people.