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Omnicare Maine spokesman Andy Brimmer said patient safety was never in question and that the company agreed to the settlement to avoid long and costly litigation. He said the company cooperated with the state’s investigation. Cincinnati-based Winton Financial has agreed to merge with WesBanco Inc., a Wheeling, W.Va.-based bank, the companies said Wednesday. Winton is the parent of Winton Savings & Loan Co., which operates seven branches and two loan offices in Greater Cincinnati. It has assets of deposits.
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WesBanco will pay each for 40 percent of Winton’s shares and 0.755 of its common shares each for the remaining 60 percent. WesBanco shares were trading for about this morning. The transaction is expected to be completed in the first quarter of 2005, subject to the approval of regulators and Winton’s shareholders.
The combination of the two companies — including WesBanco’s pending acquisition of Western Ohio Financial Corp. of Springfield, Ohio — will create a bank with about total assets and 87 banking locations in West Virginia, Indiana, Ohio, and Pennsylvania. Of those, 27 will be in Ohio, most in WesBanco’s core territory in Eastern Ohio from Marietta to Steubenville.
WesBanco has four offices in Columbus. The deal for Western Ohio Financial, expected to close next week, will give it seven branches around Dayton. Winton and WesBanco have complementary strengths that officials hope to exploit for higher growth. Winton has traditionally been strong in mortgage lending, WesBanco in commercial lending. WesBanco said it intends to add commercial lending officers in Cincinnati and also offer customers insurance, securities and other financial services that Winton does not now offer. By knowing your home estimation using the property valuation process you will have the ability to settle on basic decisions like whether you have to offer your home or need to make it more legitimized even notwithstanding for advertising.
