WesBanco, Inc. and Premier Financial Corp. announced that shareholders from both companies have overwhelmingly voted to approve the previously announced merger agreement. Approximately 85% of votes cast at WesBanco's special meeting approved the merger, and about 68% of Premier's outstanding shares voted in favor.
This shareholder approval represents a key milestone for the merger, which is now 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 is set to create a regional financial services institution with approximately $27 billion in assets, aiming for significant economies of scale and strong pro forma profitability metrics. The combined entity will become the 8th largest bank in Ohio based on deposit market share and will expand its presence across nine states.
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