WesBanco, Inc. (“WesBanco”) (Nasdaq: WSBC) and Premier Financial Corp. (“Premier”) (Nasdaq: PFC) announced that they have received all necessary regulatory approvals for the pending merger of Premier with and into WesBanco.
The companies previously announced that the shareholders of Premier and the shareholders of WesBanco had voted overwhelmingly to approve the transaction at their respective special meetings on December 11, 2024.
“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,” said Jeff Jackson, President and Chief Executive Officer of WesBanco. “These approvals reflect the strength of our shared vision for a community-focused, regional financial services provider. We look forward to closing this transformative merger and delivering the benefits of our combined strengths to our customers, communities, teams and shareholders.”
WesBanco and Premier expect that the closing of the merger will occur on or about February 28, 2025. The transaction remains subject to the completion of customary closing conditions.
The merger will create a regional financial services institution with approximately $27 billion in assets, significant economies of scale, and strong pro forma profitability metrics. With complementary and contiguous geographic footprints, the combined company would be the 8th largest bank in Ohio, based on deposit market share, have increased presence in Indiana, and serve customers in nine states.
