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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, Inc.
Target:
First Sentry Bancshares, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
11/13/2017
Announcement Date:
11/13/2017
Announced Deal Value ($ M):
97.78
Status:
Completed
Completion Date:
4/5/2018
Announced Deal Value Per Share ($ )
61.65

Consideration Breakout
Common Stock ($M) 106.1
Common Stock Issued 2,498,761

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 188.0 202.7
Price / Tangible Book (%) NA NA
Price / Earnings (x) 16.6 NA
Price / Deposits (%) 18.40 17.94
Price / Assets (%) 14.77 14.54
Tangible Book Premium/ Deposits (%) 12.00 NA
Deal Terms
Description of Consideration

WesBanco Inc. exchanged 1.5869 shares of its common stock for each of the outstanding share of First Sentry Bancshares Inc.

Accounting Method Acquisition
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 66,219
Estimated Cost Savings (%) 38.00
Estimated Cost Savings ($ 000) 3,770
Est. Restructuring Charges ($ 000) 9,900
Maximum Termination Fee ($ 000) 3,000
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) 1.586900
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) 8,237
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes D.A. Davidson & Co.
Seller Yes Sandler O'Neill & Partners LP
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes K&L Gates LLP
Seller Yes Bowles Rice LLP

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