WHEELING, W.Va., July 11, 2018 /PRNewswire/ -- WesBanco, Inc.
(Nasdaq: WSBC), a diversified, multi-state bank holding company,
announced today that it has received all necessary regulatory
approvals for the merger between WesBanco, Inc. ("WesBanco") and
Farmers Capital Bank Corporation ("Farmers") (Nasdaq: FFKT).
A special meeting of the shareholders of Farmers Capital Bank
Corporation has previously been scheduled for July 23, 2018 to consider and vote upon the
proposal to approve the previously announced Agreement and Plan of
Merger, pursuant to which Farmers will merge with and into
WesBanco.
WesBanco and Farmers anticipate that the closing of the merger
will occur during the third quarter of 2018. Completion of
the merger remains subject to the satisfaction of customary closing
conditions.
About WesBanco, Inc.
Founded in 1870, WesBanco, Inc. (www.wesbanco.com) is a
multi-state, bank holding company with total assets of
approximately $10.2 billion (as of
March 31, 2018). 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 $4.0
billion of assets under management (as of March 31, 2018), and serves as registered
investment advisor to a proprietary mutual fund family, the WesMark
Funds. WesBanco's banking subsidiary, WesBanco Bank, Inc., operates
177 financial centers (including the five locations of First Sentry
Bancshares, acquired on April 5,
2018) 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.
About Farmers Capital Bank Corporation
Farmers Capital Bank Corporation (www.farmerscapital.com) is a bank
holding company with one bank subsidiary, United Bank & Capital
Trust Company. The Company is headquartered in Frankfort, Kentucky and operates 34 banking
locations in 21 communities throughout Central and Northern Kentucky, and an insurance company.
Its stock is publicly traded on the NASDAQ Stock Market LLC
exchange in the Global Select Market tier under the symbol:
FFKT.
Forward-looking Statements
This press release contains certain forward-looking statements,
including certain plans, expectations, goals, and projections, and
including statements about the benefits of the proposed merger
between WesBanco and Farmers, which are subject to numerous
assumptions, risks, and uncertainties. Actual results could differ
materially from those contained or implied by such statements for a
variety of factors including: the businesses of WesBanco and
Farmers may not be integrated successfully or such integration may
take longer to accomplish than expected; the expected cost savings
and any revenue synergies from the proposed merger may not be fully
realized within the expected timeframes; disruption from the
proposed merger may make it more difficult to maintain
relationships with clients, associates, or suppliers; the required
governmental approvals of the proposed merger may not be obtained
on the expected terms and schedule; Farmers' shareholders may not
approve the proposed merger; changes in economic conditions;
movements in interest rates; competitive pressures on product
pricing and services; success and timing of other business
strategies; the nature, extent, and timing of governmental actions
and reforms; and extended disruption of vital infrastructure; and
other factors described in WesBanco's 2017 Annual Report on Form
10-K, Farmers' 2017 Annual Report on Form 10-K, and documents
subsequently filed by WesBanco and Farmers with the Securities and
Exchange Commission ("SEC"). All forward-looking statements
included in this news release are based on information available at
the time of the release. Neither WesBanco nor Farmers assumes any
obligation to update any forward-looking statement.
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SOURCE WesBanco, Inc.