By Derek Redd, The Intelligencer
WHEELING, W.Va. — WesBanco on Friday morning announced a merger with Youngstown, Ohio-based Premier Financial Corp., a move that WesBanco officials said will position the company for a bright future.
“The proposed merger with Premier brings together two high quality institutions with highly compatible cultures and business models to create a community focused regional financial service partner,” said WesBanco President and CEO Jeff Jackson on a Friday morning conference call.
The deal gives WesBanco a stronger foothold in Ohio — it will become the state’s eighth-largest bank — while enhancing its presence in Indiana and earning entry into Michigan.
Premier operates 73 branches and nine loan offices in Ohio, Michigan, Indiana and Pennsylvania. That group will move under the WesBanco umbrella.
There will be no change in the executive leadership team, but there will be additions in areas like compliance, fraud prevention and loan review. Also, four members of Premier’s board of directors will join WesBanco’s board.
