fin8k030408.htm
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported) March 4, 2008 (February 29,
2008)
WesBanco,
Inc.
(Exact
name of registrant as specified in its charter)
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West
Virginia
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0-8467
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55-0571723
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(State
or other jurisdiction
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(Commission
File Number)
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(IRS
Employer
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of
incorporation)
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Identification
No.)
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1
Bank Plaza, Wheeling, WV
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26003
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant's
telephone number, including area
code (304)
234-9000
Former
name or former address, if changed since last report Not
Applicable
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
ITEM 8.01 OTHER
EVENTS.
On
January 24, 2008, WesBanco, Inc. (“WesBanco”) filed an 8-K that indicated that a
press release was issued on January 18, 2008 announcing that it had entered into
definitive agreements to sell eight branches, located in Ohio, of Oak Hill
Banks. On February 29, 2008, WesBanco entered into a definitive
agreement with First Franklin Corporation (“First Franklin”), the purchaser of
three of the branches, to terminate the agreement of sale with First
Franklin. The Boards of Directors of the respective companies
determined that it was in the respective best interests of the companies to
terminate the branch purchase agreement. The agreement addressed the
sale of the Cherry Grove and Delhi branches, both located in Cincinnati, and the
Trenton branch in Butler County. The agreements to sell the remaining
five branches are expected to close in April of
2008. Collectively, the transactions for the sale of the remaining
five branches represent a blended premium of approximately 6.8% on deposits of
$67.4 million. Loans approximating $35.9 million are also included in
these transactions. Financial terms of the individual transactions
are not being disclosed at this time. The transactions are subject to
customary conditions, including normal regulatory approvals.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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WesBanco,
Inc.
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(Registrant)
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March 4,
2008
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/s/
Robert H. Young |
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Date
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Robert
H. Young
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Executive
Vice President and
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Chief
Financial Officer
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