WesBanco and Premier Financial Secure Approvals for Strategic Merger Completion

WesBanco and Premier Financial's Strategic Merger

In a significant development in the banking sector, WesBanco, Inc., a well-established financial institution, and Premier Financial Corp. have collectively announced the receipt of all required regulatory approvals for their impending merger. This landmark decision was officially stated on February 12, 2025, heralding an important step toward the completion of the merger process.

The proposed merger was previously endorsed by the shareholders of both WesBanco and Premier during their special meetings held on December 11, 2024, where they expressed overwhelming support for the transaction. Jeff Jackson, the President and CEO of WesBanco, expressed his enthusiasm regarding this milestone, highlighting the importance of these approvals in achieving a shared vision for a community-oriented financial services provider. He stated, "We are thrilled to have received all necessary regulatory and shareholder approvals, marking a significant milestone in our journey to bring WesBanco and Premier together."

WesBanco and Premier aim to finalize the merger around February 28, 2025, pending the fulfillment of customary closing conditions. Once completed, this merger is expected to create a robust regional financial services institution with approximately $27 billion in combined assets, resulting in significant economies of scale and strong profitability metrics. The newly formed entity will have an enhanced market presence, becoming the 8th largest bank in Ohio based on deposit market share and further extending its reach into Indiana, servicing customers across nine states.

About WesBanco

WesBanco, with a heritage of over 150 years as a community-focused financial services partner, strives to create lasting prosperity through relationships and comprehensive solutions that empower their clients in achieving their financial objectives. They offer a wide array of services, including retail and commercial banking solutions, trust, brokerage, wealth management, and insurance services, tailored to meet each customer's unique financial needs. Operating primarily within an eight-state footprint, WesBanco has established its presence through its strong customer-centric approach. As of December 31, 2024, WesBanco boasts total assets of approximately $18.7 billion, with its Trust and Investment Services managing assets worth around $6.0 billion.

About Premier Financial Corp.

Headquartered in Defiance, Ohio, Premier Financial Corp. serves as the holding company for Premier Bank, which manages a robust network of 73 branches and nine loan offices across Ohio, Michigan, Indiana, and Pennsylvania. With a dedicated team of professionals supporting each community banking branch, Premier Financial emphasizes personalized service to foster meaningful relationships within its operational landscape.

Conclusion

As the financial landscape continues to evolve, the merger between WesBanco and Premier Financial Corp. signifies a promising development for the communities they serve. This newly consolidated entity is poised to leverage its strengths to enhance customer service, cultivate community connections, and deliver shared success across its newly expanded geographical footprint. Stakeholders eagerly anticipate the formal closure of this transformative deal, paving the way for a cooperative future in regional banking.