WesBanco reported total assets of $18.7bn as of 31 December 2024. Credit: Eric Glenn/Shutterstock.

WesBanco and Premier Financial have received all obtained regulatory approvals for their pending merger.

On 11 December 2024, shareholders of both banks voted in favour of the merger at special meetings.

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The finalisation of the merger is anticipated on or about 28 February 2025, subject to standard closing conditions.

Once completed, the merger is poised to create a regional financial services institution, with around $27bn in assets.

The combined entity is expected to benefit from significant economies of scale and “strong pro forma profitability metrics”.

WesBanco and Premier Financial are said to have complementary and contiguous geographic presence.

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The merged business is projected to be the eighth-largest bank in Ohio by deposit market share, with an expanded presence in Indiana and a customer base spanning nine states.

WesBanco president and CEO Jeff Jackson said: “We are thrilled to have received all necessary regulatory and shareholder approvals, marking a significant milestone in our journey to bring WesBanco and Premier together.

“These approvals reflect the strength of our shared vision for a community-focused, regional financial services provider.

“We look forward to closing this transformative merger and delivering the benefits of our combined strengths to our customers, communities, teams and shareholders.”

Based in Wheeling, West Virginia, WesBanco reported total assets of $18.7bn, as of 31 December 2024. Premier Financial, based in Ohio, is the holding company for Premier Bank that operates 73 branches and nine loan offices.