Business
WesBanco, Inc. and Old Line Bancshares, Inc. Announce Regulatory Approvals for Pending Merger
WHEELING, W.Va, Nov. 14, 2019 /PRNewswire/ -- WesBanco, Inc. ("WesBanco") (Nasdaq:WSBC), a diversified, multi-state bank holding company to WesBanco Bank,
About this update from Wesbanco, Inc.
[{"type":"text","content":"WHEELING, W.Va, Nov. 14, 2019 /PRNewswire/ -- WesBanco, Inc. (\"WesBanco\") (Nasdaq:WSBC), a diversified, multi-state bank holding company to WesBanco Bank, Inc., and Old Line Bancshares, Inc. (\"Old Line\") (Nasdaq:OLBK), the parent company of Old Line Bank, a Maryland-chartered trust company with the powers of a commercial bank, jointly announced today that they have received all necessary regulatory approvals for the pending merger between WesBanco and Old Line whereby WesBanco will acquire Old Line.\n\n \n On October 29, 2019, the stockholders of Old Line and the shareholders of WesBanco each approved the transaction at their respective special meetings. \nWesBanco and Old Line expect that the closing of the merger will occur on or about November 22, 2019, although completion of the merger remains subject to the satisfaction of customary closing conditions.\nAbout WesBanco, Inc.Founded in 1870, WesBanco, Inc. (www.wesbanco.com) is a multi-state, bank holding company with total assets of approximately $12.6 billion (as of September 30, 2019). WesBanco is a diversified and well-balanced financial services institution, with a community bank at its core, built upon a strong legacy of credit and risk management. WesBanco has meaningful market share across its key geographies maintained by its commitment to dedicated customer service and solid fee-based businesses. It also provides wealth management services through a century-old trust and wealth management business, with approximately $4.4 billion of assets under management (as of September 30, 2019), and serves as registered investment advisor to a proprietary mutual fund family, the WesMark Funds. WesBanco's banking subsidiary, WesBanco Bank, Inc., operates 199 financial centers in the states of Indiana, Kentucky, Ohio, Pennsylvania, and West Virginia. In addition, WesBanco operates an insurance agency, WesBanco Insurance Services, Inc., and a full service broker/dealer, WesBanco Securities, Inc.\nAbout Old Line Bancshares, Inc.Old Line Bancshares is the parent company of Old Line Bank, a Maryland-chartered trust company with the powers of a commercial bank, headquartered in Bowie, Maryland, approximately 10 miles east of Andrews Air Force Base and 20 miles east of Washington, D.C. The Bank has 37 branches located in its primary market area of the suburban Maryland (Washington,...