WesBanco, Premier Financial merger approved by shareholders

WesBanco (WSBC) and Premier Financial (PFC) announced that WesBanco’s shareholders and Premier’s shareholders have each voted to adopt and approve, as applicable, all proposals relating to the merger agreement for WesBanco to acquire Premier. The votes were held at the respective special meetings of WesBanco’s shareholders and Premier’s shareholders. Approximately 85% of the votes cast at WesBanco’s special meeting voted to approve the merger and to approve the proposal to issue shares of WesBanco common stock, and approximately 68% of the outstanding shares of Premier common stock voted to approve the proposal. The companies believe the merger is on track to close during Q1 2025. The transaction remains subject to the completion of customary closing conditions, including the receipt of required regulatory approvals. The merger will create a regional financial services institution with approximately $27B in assets. 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.