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Investor Relation - Mergers & Acquisitions

Investor Relation

Mergers & Acquisitions

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Deal Overview

Buyer:
WesBanco, Inc.
Actual Acquirer:
WesBanco, Inc.
Target:
Old Line Bancshares, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
7/23/2019
Announcement Date:
7/23/2019
Announced Deal Value ($ M):
500.06
Status:
Completed
Completion Date:
11/22/2019
Announced Deal Value Per Share ($ )
29.22

Consideration Breakout
Common Stock ($M) 488.6
Common Stock Issued 13,554,750

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 127.6 123.0
Price / Tangible Book (%) 177.0 168.9
Price / Earnings (x) 14.0 13.4
Price / Deposits (%) 20.97 20.38
Price / Assets (%) 16.26 15.88
Tangible Book Premium/ Deposits (%) 12.65 11.35
Deal Terms
Description of Consideration

WesBanco Inc. exchanged 0.7844 shares of its stock for each outstanding share of Old Line Bancshares Inc. WesBanco Inc. also redeemed Old Line Bancshares Inc.’s TruPS. WesBanco Inc. and also assumed Old Line Bancshares Inc’s subordinated debt.

Accounting Method Acquisition
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 213,714
Estimated Cost Savings (%) 31.00
Estimated Cost Savings ($ 000) 18,800
Est. Restructuring Charges ($ 000) 30,400
Maximum Termination Fee ($ 000) 16,000
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) 0.784400
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) 33,591
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes D.A. Davidson & Co.
Seller Yes Keefe Bruyette & Woods Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Phillips Gardill Kaiser
Seller Yes Baker Donelson Bearman

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