<PAGE> 1
EXHIBIT 20
----------
NEWS FOR IMMEDIATE RELEASE
December 29, 2000
WesBanco, Inc.
1 Bank Plaza
Wheeling, WV 26003
and
Freedom Bancshares, Inc.
315 Crim Avenue
P.O. Box 10
Belington, WV 26250
For Further Information Contact:
Edward M. George (304) 234-9208
President & CEO, WesBanco, Inc.
or
Michael H. Hudnall (304) 823-1531
President & CEO
Freedom Bancshares, Inc.
Freedom Bancshares and WesBanco, Inc.
Announce Execution of an Agreement and Plan of Merger
BELINGTON, WEST VIRGINIA and WHEELING, WEST VIRGINIA - December 29, 2000 -
Freedom Bancshares, Inc. ("Freedom") and WesBanco, Inc. ("WesBanco")
(NASDAQ:WSBC) jointly announced today that they have executed a definitive
Agreement and Plan of Merger providing for the merger of Freedom's affiliate
Belington Bank, Belington, West Virginia, with and into WesBanco affiliate,
WesBanco Bank, Inc. The joint announcement was made by Edward M. George,
President & CEO of WesBanco, Inc. and Thomas M. Pitsenberger, Chairman and
Michael H. Hudnall, President & CEO of Freedom.
At September 30, 2000, Freedom had total assets of $103.1 million, deposits
of $95.4 million and shareholders' equity of $7.7 million.
WesBanco is a multi-bank holding company presently operating through 60
banking offices. Banking subsidiaries include: WesBanco Bank, Inc., WesBanco
Securities, Inc., WesBanco Insurance Services, Inc., and Hometown Finance
Company.
<PAGE> 2
At September 30, 2000, WesBanco had consolidated assets of $2.3 billion,
deposits of $1.8 billion and loans of $1.6 billion. For the nine months
ended September 30, 2000, WesBanco earned $22.1 million which represents an
annualized return on average assets of 1.2%.
Under the terms of the Agreement and Plan of Merger, WesBanco will exchange
WesBanco common stock based upon a fixed exchange ratio of 2.58 shares of
WesBanco common stock for each share of Freedom common stock outstanding.
Freedom's affiliate, Belington Bank, operates offices in five communities
located in four counties in central West Virginia: Belington and Philippi
in Barbour County, Bridgeport in Harrison County, Buckhannon in Upshur County,
and Elkins in Randolph County.
This acquisition will be accounted for as a purchase transaction.
The transaction, which is subject to, among other things, approval by the
appropriate regulatory authorities and the stockholders of Freedom, is
expected to be completed in mid-year 2001.
###
