WHEELING, W.Va. -- Wesbanco Inc. and First Fidelity Bancorp of West Virginia said they had agreed to merge in a transaction valued at $70 million.

The companies said the agreement called for Wesbanco to exchange 0.9 common share for each common share of First Fidelity with First Fidelity becoming a unit of Wesbanco. The two companies said the merger would be accounted for on a pooling-of-interests basis.

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