WesBanco, Inc. Expands Regional Presence with Conversion of Premier Financial Corp.
Rhea-AI Summary
WesBanco (NASDAQ: WSBC) has successfully completed the customer transition and operational conversion of Premier Financial Corp, marking its largest conversion in history. The merger, announced in July 2024 and consummated in February 2025, has transformed WesBanco into a $27 billion asset regional financial institution.
The conversion included approximately 400,000 consumer and 50,000 business relationships, along with 70 financial centers across northern Ohio, southern Michigan, and northeastern Indiana. WesBanco now operates over 250 financial centers across nine states and ranks among the top 100 largest insured depository organizations in the United States, becoming the 8th largest bank in Ohio by deposit market share.
Positive
- Significant expansion creating a $27 billion asset institution with economies of scale
- Addition of 450,000 new customer relationships (400,000 consumer + 50,000 business)
- Expansion to 250+ financial centers across 9 states
- Achieved position as 8th largest bank in Ohio by deposit market share
- Strong pro forma profitability metrics expected from the merger
Negative
- Integration risks and challenges in managing expanded operations
- Potential short-term costs associated with conversion and rebranding
News Market Reaction
On the day this news was published, WSBC declined 3.19%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Largest conversion in Bank's history
Former Premier financial centers in northern
"Customer and brand conversion is a milestone that marks the start of building even stronger relationships with our new customers, businesses and communities," said Jeff Jackson, President and Chief Executive Officer of WesBanco. "Since announcing the merger less than one year ago, our teams have worked diligently to ensure a smooth transition. Now, we are thrilled to introduce WesBanco products, solutions and exceptional service to our new and expanded communities."
WesBanco announced the intended acquisition of Premier Financial Corp. on July 26, 2024, and the merger was consummated on February 28, 2025, creating a regional financial services institution with more than
Customer appreciation events will occur throughout June at WesBanco's newly converted financial centers. The
About WesBanco, Inc.
With over 150 years as a community-focused, regional financial services partner, WesBanco Inc. (NASDAQ: WSBC) and its subsidiaries build lasting prosperity through relationships and solutions that empower our customers for success in their financial journeys. Customers across our nine-state footprint choose WesBanco for the comprehensive range and personalized delivery of our retail and commercial banking solutions, as well as trust, brokerage, wealth management and insurance services, all designed to advance their financial goals. Through the strength of our teams, we leverage large bank capabilities and local focus to help make every community we serve a better place for people and businesses to thrive. Headquartered in
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SOURCE WesBanco, Inc.
FAQ
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