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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 1, 1997
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WesBanco, Inc.
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(Exact name of registrant as specified in its charter)
West Virginia 0-8467 55-0571723
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1 Bank Plaza, Wheeling, WV 26003
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (304) 234-9000
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Former name of former address, if changed since last report Not Applicable
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ITEM 5 - Other Events
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On August 1, 1997, WesBanco issued 5,357,003 common shares to shareholders
of record on July 15, 1997, in a 3 for 2 stock split that was effected in the
form of a fifty percent (50%) stock dividend.
ITEM 7 - Financial Statements, Pro Forma Financial Information and Exhibits
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(c) Exhibits
20 - Press release dated June 19, 1997, regarding an announcement of
the 3 for 2 Stock Split of WesBanco, Inc. common stock.
Signatures
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.
WesBanco, Inc.
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(Registrant)
August 5, 1997 /s/ Paul M. Limbert
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Date Paul M. Limbert
Executive Vice President - Credit
Administration & Chief Financial Officer
August 5, 1997 /s/ Dennis P. Yaeger
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Date Dennis P. Yaeger
Executive Vice President - Chief
Operating Officer
NEWS For Immediate Release
June 19, 1997 For Further Information Contact:
Edward M. George
President & CEO (304) 234-9208
Nasdaq Trading Symbol: WSBC
WesBanco Announces 3 for 2 Stock Split
Wheeling, WV . . . . Edward M. George, President & CEO of WesBanco,
Inc., a Wheeling, West Virginia based multi-state, multi-bank
holding company, today announced that the Board of Directors of the
Corporation had approved a 3 for 2 stock split which would be
effected in the form of a fifty percent (50%) stock dividend
payable on August 1, 1997 to shareholders of record on July 15,
1997. In lieu of fractional shares, each shareholder will be paid a
cash equivalent for any fractional share or given the option to
purchase the additional fractional share necessary to round up to
the next share. The price of fractional shares will be based on the
average of the bid and ask prices of WesBanco common stock on the
record date, July 15, 1997.
It is anticipated that WesBanco will issue approximately 5,350,000
new shares. Total shares outstanding will increase to approximately
16,050,000. All per share amounts will be retroactively adjusted to
reflect the stock split.
According to Mr. George, the second quarter cash dividend of $.29
per share will be paid on July 1, 1997 representing a 12% increase
over the cash dividend paid for the second quarter 1996. Subsequent
quarterly common stock cash dividends will be adjusted to $.19325
per share to reflect the stock split and the manner in which it is
being implemented.
WesBanco officials recently announced that the shareholders of
Shawnee Bank, Inc. (Shawnee), Charleston, WV, have approved the
merger of Shawnee into WesBanco affiliate, WesBanco Bank
Charleston. The merger, which was previously announced on December
20, 1996, and approved by the appropriate regulatory authorities,
was approved by ShawneeOs shareholders on June 3, 1997 and is
scheduled to be consummated on June 30, 1997.
The transaction will be accounted for as a purchase transaction and
is based upon a fixed exchange ratio that will not be affected by
the stock split. The Shawnee shareholders will receive the
additional split shares of WesBanco stock.
With the consummation of the Shawnee merger, WesBanco will operate
45 banking offices in West Virginia and Ohio and operate six
mortgage company offices in West Virginia.
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