Premier Bank WesBanco to Merge with Premier Financial Corp

Premier Bank WesBanco is set to merge with Premier Financial Corp, a move that will likely have a significant impact on the banking industry. This merger is expected to create a stronger and more competitive bank.

The merger is still in the process of being finalized, but it's expected to be completed in the near future. The exact timeline has not been released yet.

As part of the merger, Premier Bank WesBanco will retain its name, but it will be owned by Premier Financial Corp. This means that the bank's operations and services will likely remain the same, but it will have a new parent company.

WesBanco has merged with Premier Financial Corp., a move that will position the company for a bright future.

The merger brings together two high-quality institutions with highly compatible cultures and business models to create a community-focused regional financial services partner.

WesBanco will become the eighth-largest bank in Ohio and enhance its presence in Indiana and Michigan through this merger.

Premier operates 73 branches and nine loan offices in Ohio, Michigan, Indiana, and Pennsylvania, which will move under the WesBanco umbrella.

There will be no change in the executive leadership team, but additions in areas like compliance, fraud prevention, and loan review are expected.

Four members of Premier's board of directors will join WesBanco's board as part of the merger.

The merger is a 100 percent stock deal with a fixed exchange ratio of 0.80 shares of WesBanco stock for each share of Premier.

The deal is valued at approximately $960 million, with WesBanco ultimately representing more than 60 percent of the combined pro forma company.

The combined company will have approximately $27 billion in assets and significant economies of scale.

WesBanco has planned $13 million in capitalized expenses to complete branch upgrades at Premier sites, upgrading ATMs, and rebranding signage.

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WesBanco is a community bank that has been serving the Mid-Atlantic and Southeast regions for over 150 years.

WesBanco offers a range of financial products and services, including personal and commercial banking, wealth management, and mortgage services.

With over 200 branches and 300 ATMs, WesBanco has a strong presence in its local communities.

As of 2022, WesBanco had total assets of over $16 billion.

WesBanco has received numerous awards and recognitions for its financial performance and community involvement.

In 2020, WesBanco was named one of the "Best Banks to Work For" by American Banker.

WesBanco's commitment to community development has earned it a spot on the Federal Deposit Insurance Corporation's (FDIC) Community Development Financial Institution (CDFI) list.

WesBanco's customer service is available 24/7 through its online banking platform and mobile app.

WesBanco's mobile app allows customers to deposit checks remotely, pay bills, and transfer funds.

WesBanco's online banking platform offers account alerts, budgeting tools, and bill pay.

WesBanco's customer service representatives are available to assist with account-related issues and answer financial questions.

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