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Investor Relation - Mergers & Acquisitions

Investor Relation

Mergers & Acquisitions

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Deal Overview

Buyer:
WesBanco, Inc.
Actual Acquirer:
WesBanco Bank
Target:
Western Ohio Financial Corporation
Deal Type:
Bank & Thrift Company
Agreement Date:
4/1/2004
Announcement Date:
4/1/2004
Announced Deal Value ($ M):
67.49
Status:
Completed
Completion Date:
8/31/2004
Announced Deal Value Per Share ($ )
35.45

Consideration Breakout
Cash ($M) 30.0
Common Stock ($M) 33.4
Common Stock Issued 1,176,935

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 142.2 133.3
Price / Tangible Book (%) 142.2 133.3
Price / Earnings (x) 25.0 26.5
Price / Deposits (%) 27.14 24.62
Price / Assets (%) 16.89 15.43
Tangible Book Premium/ Deposits (%) 14.14 10.47
Deal Terms
Description of Consideration

WesBanco issued 1.18 shares or $35.00 in cash for each share of Western Ohio, subject to 55% of Western Ohio shares being converted to stock.

Accounting Method Purchase
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 23,092
Estimated Cost Savings (%) 24.00
Estimated Cost Savings ($ 000) 2,230
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 2,500.00
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) 1.18
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement No
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) 3,600
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Keefe Bruyette & Woods Inc.
Seller Yes B. Riley FBR Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Kirkpatrick & Lockhart
Seller Yes Katten Muchin Rosenman LLP

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1 (800) 905-9043.

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