(Mark
One)
|
||
x
|
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
ACT OF
1934
|
|
For
the fiscal year ended December 31, 2006
|
||
OR
|
||
¨
|
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
ACT
OF 1934
|
|
For
the transition period: N/A
|
||
Commission
File Number 0-8467
|
A.
Full title of the plan and the address of the plan, if different
from that
of the issuers named below:
|
WESBANCO,
INC. KSOP
|
B.
Name of issuer of the securities held pursuant to the plan and the
address
of its principal executive office:
|
WESBANCO,
INC.
1
Bank Plaza
Wheeling,
WV 26003
|
|
Signatures......................................................................................................................................................................................................................................................................................
3
|
|
Report
of Independent Registered Public Accounting
Firm.................................................................................................................................................................................................. 5
|
|
Statements
of Net Assets Available for Benefits as of December 31, 2006 and
2005..........................................................................................................................................................
6
|
|
Statements
of Changes in Net Assets Available for Benefits for the years
ended
|
|
December
31, 2006 and
2005......................................................................................................................................................................................................................................................
7
|
|
Supplemental
Schedules:
|
|
Schedule
H, Line 4i — Schedule of Assets (Held at End of
Year).........................................................................................................................................................................................
16
|
|
Schedule
H, Line 4j — Schedule of Reportable
Transactions................................................................................................................................................................................................
17
|
|
Exhibits:
|
|
Exhibit
23.1 — Consent of Independent Registered Public Accounting
Firm.....................................................................................................................................................................
18
|
Note:
|
Other
schedules required by Section 2520.103-10 of the Department of Labor’s
Rules and Regulations for reporting and Disclosure under the Employee
Retirement Income Security Act of 1974 have been omitted because
they are
not applicable.
|
WESBANCO,
INC. KSOP
|
||
Date:
June 25, 2007
|
/s/
Robert H. Young
|
|
Robert
H. Young
|
||
Executive
Vice President and
Chief
Financial Officer
|
Audited
Financial Statements
and
Supplemental Information
WesBanco,
Inc. KSOP
Years
ended December 31, 2006 and 2005
with
Report of Independent Registered Public Accounting Firm
Thereon
|
December
31
|
||
2006
|
2005
|
|
Assets
|
||
Investments:
|
||
Registered investment companies
|
$
22,336,175
|
$
21,292,508
|
WesBanco common stock
|
19,135,150
|
20,621,177
|
Cash and short-term investments
|
18,602
|
24,283
|
Participant loans
|
408,263
|
49,004
|
Total
investments
|
41,898,190
|
41,986,972
|
Contributions
receivable Employees
|
146,038
|
63,199
|
Contributions
receivable Employer
|
85,345
|
79,029
|
Accrued
dividends
|
151,560
|
179,431
|
Total
assets
|
42,281,133
|
42,308,631
|
Liabilities
|
||
Accrued
liabilities
|
83
|
15
|
Net
assets available for benefits
|
$
42,281,050
|
$
42,308,616
|
See
accompanying notes.
|
||
Years
Ended December 31
|
||
2006
|
2005
|
|
Additions
|
||
Investment
income:
|
||
Interest and dividends
|
$
1,709,914
|
$
1,051,965
|
Net appreciation in fair value of investments
|
2,960,519
|
341,985
|
Total
investment income
|
4,670,433
|
1,393,950
|
Contributions:
|
||
Employer
|
1,210,320
|
1,503,100
|
Employees
|
2,302,266
|
2,594,826
|
Total
contributions
|
3,512,586
|
4,097,926
|
Total
additions
|
8,183,019
|
5,491,876
|
Deductions
|
||
Distributions
to participants
|
8,206,390
|
7,878,204
|
Other
expense
|
4,195
|
15,271
|
Total
deductions
|
8,210,585
|
7,893,475
|
Transfers
from other plans
|
–
|
10,595,832
|
Net
(decrease) increase
|
(27,566)
|
8,194,233
|
Net
assets available for benefits:
|
||
Beginning
of year
|
42,308,616
|
34,114,383
|
End
of year
|
$
42,281,050
|
$
42,308,616
|
See
accompanying notes.
|
2006
|
2005
|
||||
Fair
Value
|
Net
Appreciation (Depreciation)
|
Fair
Value
|
Net
Appreciation (Depreciation)
|
||
Investments,
at fair value as determined by quoted market
price
|
|||||
Participant-directed
investments:
|
|||||
BlackRock
Money Market
|
$ 2,190,134
*
|
$
94,676
|
$
2,341,583
*
|
$
76,699
|
|
WesMark
Small Company Fund
|
1,177,778
|
116,861
|
1,343,058
|
142,162
|
|
WesMark
Bond Fund
|
960,480
|
(37)
|
898,568
|
(21,213)
|
|
WesMark
Growth Fund
|
4,163,424
*
|
134,294
|
4,648,152
*
|
260,669
|
|
WesMark
Balanced Fund
|
768,673
|
59,408
|
769,106
|
16,167
|
|
Federated
Max-Cap Fund
|
1,376,627
|
64,079
|
1,231,887
|
20,126
|
|
AIM
Funds Group Basic Value Class A
|
2,179,532
*
|
156,402
|
2,443,952
*
|
143,269
|
|
Fidelity
Advisor Small Cap
|
510,407
|
(54,412)
|
612,063
|
7,882
|
|
American
Bond Fund of America
|
368,892
|
3,590
|
208,356
|
(4,857)
|
|
BlackRock
GNMA Class A
|
98,466
|
(360)
|
84,581
|
(1,703)
|
|
Federated
Total Return Govt. Bd.
|
603,053
|
(10,313)
|
692,751
|
(11,757)
|
|
American
Balanced R3
|
686,862
|
42,327
|
898,831
|
2,769
|
|
American
Growth Fund of America
|
1,400,019
|
82,918
|
1,317,926
|
138,463
|
|
Federated
Capital Appreciation
|
–
|
237
|
302,873
|
7,469
|
|
American
Small Cap World R3
|
470,149
|
26,848
|
252,909
|
11,418
|
|
Royce
Low Price Stock
|
691,787
|
15,468
|
299,266
|
7,869
|
|
American
EuroPacific Growth R3
|
1,830,723
|
179,926
|
1,476,068
|
139,153
|
|
T.
Rowe Price Growth Stock Fund
|
1,551,343
|
154,428
|
1,470,578
|
84,299
|
|
Third
Avenue Value Fund
|
370,387
|
7,704
|
–
|
–
|
|
T.
Rowe Price Target Retirement 2010 Fund
|
265,635
|
5,416
|
–
|
–
|
|
T.
Rowe Price Target Retirement 2020 Fund
|
184,668
|
8,095
|
–
|
–
|
|
T.
Rowe Price Target Retirement 2030 Fund
|
114,344
|
5,614
|
–
|
–
|
|
T.
Rowe Price Target Retirement 2040 Fund
|
29,418
|
1,226
|
–
|
–
|
|
Davis
NY Venture Fund
|
343,374
|
38,061
|
–
|
–
|
|
Participant
loans
|
408,263
|
–
|
49,004
|
–
|
|
Total
participant-directed
|
22,744,438
|
1,132,456
|
21,341,512
|
1,018,884
|
|
|
|||||
Nonparticipant-directed
investments:
|
|||||
WesBanco
Common Stock
|
19,135,150
*
|
1,828,063
|
20,621,177
*
|
(676,899)
|
|
BlackRock
Funds Money Market
|
17,590
|
–
|
12,576
|
–
|
|
WesBanco
Stock Liquidity Fund
|
1,012
|
–
|
11,707
|
–
|
|
Total
nonparticipant-directed
|
19,153,752
|
1,828,063
|
20,645,460
|
(676,899)
|
|
Total
|
$
41,898,190
|
$
2,960,519
|
$
41,986,972
|
$
341,985
|
WesBanco
Stock Liquidity Fund
|
WesBanco
Common Stock Equity Fund
|
WesBanco
Unallocated ESOP Fund
|
Total
|
|
2006
|
||||
Investments,
at fair value:
|
||||
WesBanco
common stock
|
$
–
|
$
19,135,150
|
$
–
|
$
19,135,150
|
Cash
and short-term investments
|
1,012
|
17,590
|
18,602
|
|
Total
investments
|
1,012
|
19,152,740
|
19,153,752
|
|
|
||||
Accrued
dividends
|
151,560
|
–
|
|
151,560
|
Total
assets
|
152,572
|
19,152,740
|
19,305,312
|
|
|
|
|||
Net
assets available for benefits
|
$
152,572
|
$
19,152,740
|
$
–
|
$
19,305,312
|
2005
|
||||
Investments,
at fair value:
|
||||
WesBanco
common stock
|
$
–
|
$
20,151,495
|
$
469,682
|
$
20,621,177
|
Cash
and short-term investments
|
11,707
|
–
|
12,576
|
24,283
|
Total
investments
|
11,707
|
20,151,495
|
482,258
|
20,645,460
|
|
||||
Accrued
dividends
|
175,415
|
–
|
4,016
|
179,431
|
Due
to (from)
|
–
|
486,274
|
(486,274)
|
–
|
Total
assets
|
187,122
|
20,637,769
|
–
|
20,824,891
|
|
||||
Net
assets available for benefits
|
$
187,122
|
$
20,637,769
|
$
–
|
$
20,824,891
|
WesBanco
Stock Liquidity Fund
|
WesBanco
Common Stock Equity Fund
|
WesBanco
Unallocated ESOP Fund
|
Total
|
|
Net
assets available for benefits at January 1, 2006
|
$
187,122
|
$
20,637,769
|
$
–
|
$
20,824,891
|
Additions:
|
|
|||
Interest
and dividends
|
638,664
|
–
|
998
|
639,662
|
Net
appreciation (depreciation)
|
–
|
1,848,757
|
(20,696)
|
1,828,061
|
Contributions
|
274,698
|
(138)
|
274,560
|
|
Deductions:
|
||||
Distributions
|
(4,614)
|
(3,465,058)
|
(3,469,672)
|
|
Other
expense
|
–
|
(1,886)
|
(1,886)
|
|
Net
transfers
|
(943,298)
|
133,296
|
19,698
|
(790,304)
|
Net
assets available for benefits at December 31,
2006
|
$
152,572
|
$
19,152,740
|
$
–
|
$
19,305,312
|
WesBanco
Stock Liquidity Fund
|
WesBanco
Common Stock Equity Fund
|
WesBanco
Unallocated ESOP Fund
|
Total
|
|
Net
assets available for benefits at January 1,
2005
|
$
158,545
|
$
20,257,115
|
$ 261,160
|
$
20,676,820
|
Additions:
|
|
|||
Interest
and dividends
|
725,961
|
4,315
|
16,663
|
746,939
|
Net
appreciation (depreciation)
|
–
|
(600,851)
|
(76,048)
|
(676,899)
|
Contributions
|
394,232
|
–
|
245,405
|
639,637
|
Deductions:
|
||||
Distributions
|
(518)
|
(3,934,009)
|
–
|
(3,934,527)
|
Other
expense
|
–
|
(1,150)
|
(12,860)
|
(14,010)
|
Net
transfers
|
(1,091,098)
|
4,912,349
|
(434,320)
|
3,386,931
|
Net
assets available for benefits at December 31, 2005
|
$ 187,122
|
$
20,637,769
|
$ –
|
$
20,824,891
|
WesBanco,
Inc. KSOP
|
|||||
EIN
#55-0571723 Plan
#002
|
|||||
Schedule
H, Line 4i – Schedule of Assets
|
|||||
(Held
at End of Year)
|
|||||
December
31, 2006
|
|||||
Identity
of
|
|||||
Issue,
Borrower,
|
|||||
Lessor,
or
|
Current
|
||||
Similar
Party
|
Description
of Investment
|
Cost
|
Value
|
||
Short-Term
Investments
|
|||||
1,012
|
shs.
|
WesBanco
Stock Liquidity Fund*
|
$
1,012
|
||
17,590
|
shs.
|
BlackRock
Funds Money Market
|
17,590
|
||
|
Total
Short Term Investments
|
$
18,602
|
|||
Registered
Investment Companies
|
|||||
129,569
|
shs.
|
WesMark
Small Company Fund*
|
1,177,778
|
||
98,617
|
shs.
|
WesMark
Bond Fund*
|
960,480
|
||
300,175
|
shs.
|
WesMark
Growth Fund*
|
4,163,424
|
||
77,254
|
shs.
|
WesMark
Balanced Fund*
|
768,673
|
||
52,906
|
shs.
|
Federated
Max-Cap Fund
|
1,376,627
|
||
59,550
|
shs.
|
AIM
Funds Group Basic Value Class A
|
2,179,532
|
||
49,707
|
shs.
|
T-Rowe
Price Growth Stock
|
1,551,343
|
||
23,054
|
shs.
|
Fidelity
Advisor Small Cap
|
510,407
|
||
27,695
|
shs.
|
American
Bond Fund of America
|
368,892
|
||
10,268
|
shs.
|
BlackRock
GNMA Class A
|
98,466
|
||
56,945
|
shs.
|
Federated
Total Return Govt. Bd.
|
603,053
|
||
36,227
|
shs.
|
American
Balanced R3
|
686,862
|
||
43,144
|
shs.
|
American
Growth Fund of America
|
1,400,019
|
||
12,190
|
shs.
|
American
Small Cap World R3
|
470,149
|
||
41,104
|
shs.
|
Royce
Low Price Stock
|
691,787
|
||
39,885
|
shs.
|
American
EuroPacific Growth R3
|
1,830,723
|
||
1,504,006
|
shs.
|
BlackRock
Money Market
|
2,190,134
|
||
6,229
|
shs.
|
Third
Avenue Value Fund
|
370,387
|
||
16,834
|
shs.
|
T.
Rowe Price Target Retirement 2010 Fund
|
265,635
|
||
10,724
|
shs.
|
T.
Rowe Price Target Retirement 2020 Fund
|
184,668
|
||
6,191
|
shs.
|
T.
Rowe Price Target Retirement 2030 Fund
|
114,344
|
||
1,577
|
shs.
|
T.
Rowe Price Target Retirement 2040 Fund
|
29,418
|
||
8,903
|
shs.
|
Davis
NY Venture Fund
|
343,374
|
||
|
Total
Registered Investment Companies
|
$
22,336,175
|
|||
|
|||||
Equity
Securities
|
|||||
570,687
|
shs.
|
WesBanco
Common Stock*
|
$
10,337,997
|
$
19,135,150
|
|
Participant
Loans
|
|||||
Loan
Account* (interest rates range from
|
|||||
5.00% to 8.25% and have maturities
|
|||||
through December 2011)
|
-
|
$
408,263
|
|||
*Party
in interest
|
WesBanco,
Inc. KSOP
|
||||||
EIN
#55-0571723 Plan
#002
|
||||||
Schedule
H, Line 4j – Schedule of Reportable Transactions
|
||||||
Year
Ended December 31, 2006
|
||||||
Current
|
||||||
Value
of
|
||||||
Asset
on
|
||||||
Identity
of
|
Purchase
|
Selling
|
Cost
of
|
Transaction
|
||
Party
Involved
|
Description
of Assets
|
Price
|
Price
|
Asset
|
Date
|
Net
Gain
|
Category
III
|
||||||
WesBanco
|
WesBanco
Inc. Common Equity 173 transactions
|
$ 3,268,761
|
$ 2,444,887
|
$ 823,874
|
||
There
were no Category I, II or IV transactions for the year ended December
31,
2006.
|