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WHEELING, W.Va. - WesBanco , Inc. (NASDAQ: NASDAQ:WSBC) and Premier Financial Corp. (NASDAQ: PFC) have announced the receipt of all required regulatory approvals for their forthcoming merger. The merger, which is anticipated to finalize around February 28, 2025, follows the December 11, 2024, affirmative vote from both companies’ shareholders. Premier Financial, currently valued at $1.03 billion in market capitalization, has shown remarkable strength with a 48% return over the past year.
Jeff Jackson, President and CEO of WesBanco, expressed satisfaction with the progress, highlighting the shared vision of creating a community-focused regional financial services provider. The merger is expected to produce a financial institution with roughly $27 billion in assets, positioning the combined entity as Ohio’s 8th largest bank by deposit market share and expanding its presence in Indiana and across nine states. According to InvestingPro analysis, Premier Financial currently maintains a FAIR financial health score, with particularly strong price momentum metrics.
WesBanco, a company with a history spanning over 150 years, is recognized for its community-centered financial services across eight states. As of December 31, 2024, WesBanco reported total assets of $18.7 billion, with its Trust and Investment Services managing $6.0 billion of assets under management and securities account values (including annuities) of $1.9 billion.
Premier Financial Corp., with its headquarters in Defiance, Ohio, operates Premier Bank, which has branches and loan offices in Ohio, Michigan, Indiana, and Pennsylvania. The company has maintained dividend payments for 15 consecutive years, currently offering a 4.2% dividend yield. InvestingPro analysis indicates the stock is currently trading near its Fair Value, with additional insights available in the comprehensive Pro Research Report covering this regional banking leader.
The completion of the merger remains subject to customary closing conditions. The strategic consolidation is expected to leverage economies of scale and enhance profitability metrics for the newly formed regional financial powerhouse. Premier Financial’s stock is currently trading near its 52-week high of $29.63, reflecting market confidence in the merger’s potential.
The information in this article is based on a press release statement.
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