Item 8.01 OTHER
EVENTS.
On
January 24, 2008, WesBanco, Inc. (“WesBanco”) filed an 8-K that indicated that a
press release was issued on January 18, 2008 announcing that it had entered into
definitive agreements to sell eight branches, located in Ohio, of Oak Hill
Banks. On February 29, 2008, WesBanco entered into a definitive
agreement with First Franklin Corporation (“First Franklin”), the purchaser of
three of the branches, to terminate the agreement of sale with First
Franklin. The Boards of Directors of the respective companies
determined that it was in the respective best interests of the companies to
terminate the branch purchase agreement. The agreement addressed the
sale of the Cherry Grove and Delhi branches, both located in Cincinnati, and the
Trenton branch in Butler County. The agreements to sell the remaining
five branches are expected to close in April of
2008. Collectively, the transactions for the sale of the remaining
five branches represent a blended premium of approximately 6.8% on deposits of
$67.4 million. Loans approximating $35.9 million are also included in
these transactions. Financial terms of the individual transactions
are not being disclosed at this time. The transactions are subject to
customary conditions, including normal regulatory approvals.
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.
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WesBanco,
Inc.
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(Registrant)
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March 4,
2008
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/s/ Robert H. Young |
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Date
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Robert
H. Young
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Executive
Vice President and
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Chief
Financial Officer
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