-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, TpUa2ygGTGoMfIYV+jSvCKw4qgX82GkJh+N79jhRpQWp1+A7c8F0kKO01IXjsfwJ e7peD49wvX8Vjha+QfFegw== 0000203596-08-000003.txt : 20080102 0000203596-08-000003.hdr.sgml : 20080101 20080102150404 ACCESSION NUMBER: 0000203596-08-000003 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080102 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080102 DATE AS OF CHANGE: 20080102 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WESBANCO INC CENTRAL INDEX KEY: 0000203596 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 550571723 STATE OF INCORPORATION: WV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-107736 FILM NUMBER: 08501458 BUSINESS ADDRESS: STREET 1: 1 BANK PLAZA CITY: WHEELING STATE: WV ZIP: 26003 BUSINESS PHONE: 3042349000 MAIL ADDRESS: STREET 1: ONE BANK PLZ CITY: WHEELING STATE: WV ZIP: 26003 8-K 1 fin8k010208.htm 8K ON LOAN SALE fin8k010208.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) January 2, 2008 (December 26, 2007)
 
 
WesBanco, Inc.
 (Exact name of registrant as specified in its charter)
 

West Virginia
0-8467
55-0571723
(State or other jurisdiction
(Commission File Number)
(IRS Employer
of incorporation)
 
Identification No.)


1 Bank Plaza, Wheeling, WV
26003
(Address of principal executive offices)
(Zip Code)

 
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 December 26, 2007, WesBanco, Inc. issued a press release announcing the disposition and anticipated sale of approximately $50 million of loans and other non-performing assets.  A copy of the press release is attached as Exhibit 99.1 hereto.


ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
 
d)  
Exhibits - 99.1 - Press release dated December 26, 2007 announcing the disposition and anticipated sale of approximately $50 million of loans and other non-performing assets.
 
 
 
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.
 

 
WesBanco, Inc.
 
(Registrant)
   
January 2, 2008
 /s/ Robert H. Young
Date
Robert H. Young
 
Executive Vice President and
 
Chief Financial Officer
   




EX-99.1 2 fin8k010208pr.htm PRESS RELEASE ON LOAN SALE fin8k010208pr.htm                                                                                                                                                                        ;                          Ex. 99.1

NEWS FOR IMMEDIATE RELEASE
December 26, 2007
 
For Further Information Contact:
 
Paul M. Limbert
President & CEO,
WesBanco, Inc.
(304) 234-9206

Or

Robert H. Young
Executive VP & CFO,
WesBanco, Inc.
(304) 234-9447

WesBanco, Inc. Announces the Disposition and Anticipated Sale of Approximately $50 Million of Loans and Other Non-Performing Assets

WHEELING, WV, December 24, 2007 – As previously disclosed on July 20, 2007, in connection with the announcement of the of the execution of the Agreement and Plan of Merger between WesBanco, Inc. (“WesBanco”) (Nasdaq: WSBC) and Oak Hill Financial, Inc. (“Oak Hill”), WesBanco and Oak Hill agreed to use commercially reasonable efforts to enter into contracts for the sale of approximately $50 million of loans and other non-performing assets.  On November 19, 2007, WesBanco and Oak Hill reported that they believed that substantial progress had been made in achieving the sale of the identified loans.  Approximately $44.6 million of such loans were sold, paid off, or otherwise removed from the loan portfolio prior to the November 30, 2007 effective date of the merger and another $6.3 million of such loans are expected to be sold by December 31, 2007.

Paul M. Limbert, WesBanco President & CEO, commented “this accomplishes our previously announced goal of selling approximately $50 million of loans and other non-performing assets of Oak Hill.”

WesBanco’s merger with Oak Hill creates a multi-state bank holding company of $5.3 billion in total assets providing banking services through 117 locations and 152 ATM’s in West Virginia, Ohio and Pennsylvania. WesBanco’s banking subsidiaries are WesBanco Bank, Inc., headquartered in Wheeling, West Virginia, and Oak Hill Banks, headquartered in Jackson, Ohio. In addition, WesBanco operates an insurance company, WesBanco Insurance Services, Inc., and a full service broker/dealer, WesBanco Securities, Inc.


Forward-looking Statement

This press release contains certain forward-looking statements, including certain plans, expectations, goals, and projections, and including statements about the benefits of the merger between WesBanco and Oak Hill, 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 Oak Hill 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 merger may not be fully realized within the expected timeframes; disruption from the merger may make it more difficult to maintain relationships with clients, associates, or suppliers; 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 2006 Annual Report on Form 10-K, Oak Hill’s 2006 Annual Report on Form 10-K, and documents subsequently filed by WesBanco and Oak Hill with the Securities and Exchange Commission, including both companies’ Form 10-Q’s as of September 30, 2007. All forward-looking statements included in this news release are based on information available at the time of the release. Neither WesBanco nor Oak Hill assumes any obligation to update any forward-looking statement.


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