WesBanco, Inc. acquired Premier Financial Corp., an Ohio-based financial institution. This significant transaction strengthens WesBanco's market presence and operational capabilities.
The deal, valued at approximately $959 million, was announced as a strategic move to combine two financially strong and community-focused banking organizations.
Key Aspects of the Acquisition
The acquisition of Premier Financial Corp. by WesBanco represents a major consolidation in the regional banking sector. Here are some critical details about the transaction:
- Acquirer: WesBanco, Inc., headquartered in Wheeling, West Virginia.
- Acquired Entity: Premier Financial Corp., based in Defiance, Ohio.
- Transaction Value: The deal is valued at approximately $959 million.
- Funding: WesBanco is raising $200 million to facilitate this transaction.
- Expected Closing: The acquisition is anticipated to close in the first quarter of 2025, pending regulatory approvals and satisfaction of customary closing conditions.
This strategic merger aims to create a larger, more diversified financial institution with an expanded customer base and enhanced service offerings across West Virginia, Ohio, and surrounding regions. Both companies have a history of community engagement, and the integration is expected to benefit customers through a broader network and potentially more robust financial products and services.
For more information, you can refer to reports on the acquisition details, such as those found on Banking Dive.
