WesBanco acquires Kentucky-based bank
WHEELING — WesBanco Inc. has acquired Farmers Capital Bank Corp. of Frankfort, Kentucky, and named one of the former executives of Farmers to its board of directors.
The merger, which was announced in April, was completed July 23 after Farmers shareholders approved it, according to a statement from WesBanco. In the statement, the banking company also said Michael J. Crawford of Farmers has been named to its board.
It also said Lloyd C. Hillard Jr., president and chief executive officer of Farmers, became chairman of the Central and Southern Kentucky Market Advisory Board for WesBanco. That board, which will be made up of all other Farmers board members, will help ensure a smooth transition, the bank said.
Farmers has assets totaling $1.6 billion. Its shareholders received 1.053 shares of WesBanco common stock and cash in the amount of $5 for each share of Farmers stock they previously held.
“We are pleased to welcome the customers and employees of Farmers, and its banking affiliate, United Bank & Capital Trust Co., to the WesBanco family,” said Todd Clossin, president and CEO of WesBanco. “I am excited about our opportunities in Kentucky, as we have grown from not having a presence two years ago to now being a top 10 financial institution in the state. We look forward to providing our newest customers with a broader array of banking services, including expanded commercial and mortgage lending capabilities and enhanced trust and wealth management services, as we build on the solid platform that has been created, while maintaining a strong commitment to client service and community banking.”
Hillard said Farmers is excited to join the WesBanco team.
“WesBanco’s extensive experience as a diversified and well-balanced financial institution and demonstrated track record of merger integration and commitment to the communities it serves will greatly benefit our customers and employees,” he said.
Former branches of United will continue to operate under the United Bank name until the data conversion, when they will be transitioned to WesBanco in conjunction with the data processing and signage conversion. Subsequent to the conversion date, United customers will continue to conduct their regular banking transactions at United’s former banking locations.
WesBanco’s merger with Farmers expands its existing franchise within Kentucky and bridges the gap between its existing Southern Indiana/Kentucky and Southeast Ohio/Huntington, West Virginia, markets. It also creates a multi-state bank holding company of approximately $12.8 billion in total assets providing banking and wealth management services, including approximately $4.5billion in assets under management, through 211 financial centers in Indiana; Kentucky; Ohio; Pennsylvania; and West Virginia.
Prior to the merger with WesBanco, Farmers operated 34 branches across Kentucky.




