Shareholders approve merger of WesBanco, Oak Hill Financial

By Lisa Kerner

Charlotte, N.C., Nov. 19 - The shareholders of WesBanco, Inc. and the shareholders of Oak Hill Financial, Inc. approved the companies' merger first announced on July 20, 2007.

The merger is slated to close on Nov. 30, a company news release stated.

As previously reported, WesBanco will acquire Oak Hill in a cash and stock transaction valued at $201 million.

Oak Hill shareholders will be entitled to receive either 1.256 shares of WesBanco common stock or cash in the amount of $38.00 for each share of Oak Hill common stock.

The combination of the two companies will create a bank with $5.3 billion in total assets and providing banking services through 114 locations and 152 ATMs in three states.

Oak Hill directors John D. Kidd, Donald P. Wood, D. Bruce Knox and Neil S. Strawser will join WesBanco's board of directors.

In addition, Oak Hill agreed to use "commercially reasonable efforts" to sell about $50 million of loans and other non-performing assets.

Oak Hill is a financial holding company located in Jackson, Ohio.

WesBanco is a multi-state bank holding company based in Wheeling, W.Va.

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