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WesBanco, Inc. Completes Acquisition of Premier Financial Corp. and Appoints Directors
WSBCWesBanco(WSBC) Prnewswire·2025-03-01 01:00

Core Points - WesBanco, Inc. has successfully completed the acquisition of Premier Financial Corp, enhancing its position as a regional financial services institution with approximately 27billioninassets[1][3]−ThemergerintegratesPremierBankintoWesBancoBank,Inc.,andincludestheappointmentoffourformerPremierdirectorstotheWesBancoBoardofDirectors[1][2]Group1:AcquisitionDetails−Theacquisitioncreatesacombinedentitythatisthe81stlargestinsureddepositoryorganizationintheU.S.andthe8thlargestbankinOhiobasedondepositmarketshare[3]−WesBanconowoperatesover250financialcentersandloanproductionofficesacrossninestates,includingIndiana,Kentucky,Maryland,Michigan,Ohio,Pennsylvania,Tennessee,Virginia,andWestVirginia[3]Group2:LeadershipandIntegration−TheintegrationofPremier′sleadershipandexpertiseisexpectedtoenhancecustomerandcommunityrelationships,supportinglong−termgrowth[4]−TheformerPremierfinancialcenterswillcontinuetooperateunderthePremierBanknameuntilafullrebrandingtoWesBancooccursinmid−May[5]Group3:CompanyBackground−WesBancohasover150yearsofexperienceasacommunity−focusedfinancialservicespartner,withtotalassetsof27 billion in assets [1][3] - The merger integrates Premier Bank into WesBanco Bank, Inc., and includes the appointment of four former Premier directors to the WesBanco Board of Directors [1][2] Group 1: Acquisition Details - The acquisition creates a combined entity that is the 81st largest insured depository organization in the U.S. and the 8th largest bank in Ohio based on deposit market share [3] - WesBanco now operates over 250 financial centers and loan production offices across nine states, including Indiana, Kentucky, Maryland, Michigan, Ohio, Pennsylvania, Tennessee, Virginia, and West Virginia [3] Group 2: Leadership and Integration - The integration of Premier's leadership and expertise is expected to enhance customer and community relationships, supporting long-term growth [4] - The former Premier financial centers will continue to operate under the Premier Bank name until a full rebranding to WesBanco occurs in mid-May [5] Group 3: Company Background - WesBanco has over 150 years of experience as a community-focused financial services partner, with total assets of 18.7 billion as of December 31, 2024 [6]