M&A
confidence high
sentiment neutral
materiality 0.75
Wesbanco completes $1.0B Premier Financial merger; pro forma EPS $2.11
WESBANCO INC
- Merger valued at ~$1.0B; each Premier share converted to 0.80 WSBC shares at $35.07.
- Pro forma combined assets $27.2B, net income $192.5M, basic EPS $2.11 (down from $2.26 standalone).
- Estimated goodwill of $494.5M and core deposit intangible of $147.9M recorded.
- Cost savings targeted at 25.6% of Premier's annualized pre-tax expenses; $71.6M total merger costs expected.
- Pro forma balance sheet includes $20.98B in deposits and $18.87B in gross loans.