WHEELING, W.Va. Wesbanco Bank, a unit of Wesbanco Inc., will acquire Belington Bank, a part of Freedom Bancshares in Belington, executives from both companies said Friday in a joint announcement.
Each share of Freedom common stock outstanding would be exchanged for 2.58 shares of Wesbanco.
As of Sept. 30, Freedom had $103.1 million of assets, while Wesbanco Inc., a multibank holding company, had $2.3 billion. The companies said they expect the transaction, which is subject to regulatory and Freedom stockholder approval, to be completed around midyear.
