By: Jacob Kessler
THE VILLAGE REPORTER
jacob@thevillagereporter.com
The companies of WesBanco, Inc. and Premier Financial Corporation have agreed to a merger that creates a “community-focused, regional financial services partner with $27+ Billion in assets”.
The announcement was made on July 26th, 2024, with the statement showing Premier Financial Corporation (Premier Bank) will be merged with and into Wesbanco.
Jeff Jackson, President and Chief Executive Officer of WesBanco, stated, “Today is an exciting day in WesBanco’s 155-year history as we announce our proposed merger with Premier and mark another milestone in our long-term growth strategy.”
“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.”
“We are pleased to welcome Premier’s customers and employees to the WesBanco family and look forward to delivering exceptional customer experiences to our newest markets through a broader offering of banking and wealth management services.”
“WesBanco has built an outstanding reputation for soundness, profitability, customer service, employer of choice and community development, as evidenced by multiple recent national accolades.”
“We look forward to extending our legacy through this merger and bringing even greater value to our customers, teams, communities and shareholders.””
“When the transaction is consummated, WesBanco will have more than 250 financial centers, as well as loan production offices, across nine states.”
“The transaction will expand WesBanco’s franchise by 73 financial centers located primary throughout northern Ohio, as well as in southern Michigan and northeastern Indiana.”
“Officials of both organizations are optimistic that organizing around customer services and product delivery can be accomplished with as little employee disruption as possible.”
According to a Premier Bank representative, closing of the transaction is expected by the end of the first quarter of 2025 and is pending regulatory and shareholder approvals.
Once all approvals are obtained and the transaction is close, planning will begin to bring the two companies together. Rebranding would be expected by mid-year 2025.