Shareholders OK WesBanco, Premier Merger Agreement

WHEELING, W.Va. – WesBanco Inc. and Premier Financial Corp. announced Wednesday that the two company’s shareholders have each voted overwhelmingly to adopt and approve all proposals relating to their merger agreement. 

The votes were held Wednesday at the respective special meetings of WesBanco’s shareholders and Premier’s shareholders. 

Approximately 85% of the shareholders at WesBanco’s meeting voted to approve the merger and to approve the proposal to issue shares of WesBanco common stock as described in the joint proxy statement/prospectus for the meeting. Approximately 68% of Premier’s shareholders voted to approve the proposal to adopt the merger agreement. 

“Shareholder approval is a key milestone that reflects strong confidence in the opportunities this merger creates for our communities, customers, employees and shareholders,” Jeff Jackson, president and CEO of WesBanco, said in a news release. “With this step complete, we look forward to receiving the required regulatory approvals and then scheduling the closing of the merger, so we can bring our community commitment and the resources of a stronger organization to all of our communities.”

The companies believe the merger is on track to close during the first quarter of 2025. The transaction remains subject to the completion of customary closing conditions, including the receipt of required regulatory approvals.

The merger would create a regional financial services institution with approximately $27 billion in assets. The combined company would be the eighth largest bank in Ohio, based on deposit market share, and serve customers in nine states. 

Published by The Business Journal, Youngstown, Ohio.