YOUNGSTOWN, Ohio – The merger between WesBanco Inc. and Premier Financial Corp. has taken another step toward completion, gaining the necessary regulatory approvals.
The closing of the merger is now expected on or about Feb. 28 and remains subject to the completion of customary closing conditions.
“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,” Jeff Jackson, president and CEO of WesBanco, said in a statement released by the company. “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.”
The merger was announced in June and approved by shareholders of both companies during special meetings Dec. 11. About 68% of Premier’s shareholders voted to approve the merger agreement at that time, while 85% of WesBanco’s approved.
The combined assets of WesBanco and Premier is expected to be about $27 billion once the merger is completed, making WesBanco, headquartered in Wheeling, W.Va., the eighth largest bank in Ohio based on deposit market share. It will have 250 locations and serve customers in nine states.