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WesBanco and Premier Financial Corp Announce Definitive Merger Agreement

Author

Slice of Finance Team
01 Aug

Key Highlights:

  • Merger valued at $959 million in an all-stock transaction.

  • Premier shareholders to receive 0.80 WesBanco shares per Premier share.

  • $200 million capital raised to support the merger.

  • Transaction expected to close in Q1 2025.

  • Combined assets of $27 billion creating the 8th largest bank in Ohio.

Source (Business Wire)

Notable Quotes:

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“This transformative merger will bring together two high-caliber institutions to create a community-focused, regional financial services partner strongly positioned to serve the unique needs of both our new and legacy communities.”

Jeff Jackson, President and CEO at WesBanco
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“The expanded reach of the organization will serve as a catalyst for growth and increased investment in products and services, to the benefit of all stakeholders: customers, associates, shareholders, as well as the communities we serve.”

Gary Small, President and CEO at Premier

Our Take:

The merger between WesBanco and Premier Financial Corp. is a strategic move that aligns with both organizations' commitment to community banking and regional growth. By combining resources and expanding their geographic footprint, the new entity will enhance its service offerings and market presence, particularly in Ohio, Indiana, and beyond. The financial metrics of the deal indicate strong accretive potential to earnings, reflecting sound financial planning and expected benefits from economies of scale. Additionally, the significant capital raise led by prominent investors underscores confidence in the merger's success and future growth prospects. This merger marks a pivotal step in creating a robust, community-oriented financial institution poised for long-term profitability and service excellence.