Wesbanco Acquires Amtrust's Columbus Branches

By: Associated Press
By: Associated Press

Wheeling, W.Va. (AP) -- Amtrust Bank's five branches in Columbus, Ohio, have been acquired by Wesbanco Inc.

Wesbanco said Friday that it has completed the deal, which was announced in January.

The Wheeling bank holding company said it assumed about $600 million in deposit liabilities but no loans.

President and CEO Paul Limbert said the acquisition will enhance Wesbanco position in the Columbus area market.

Amtrust CEO Peter Goldberg said the deal allows the Cleveland-based bank to focus on its core markets.

Wesbanco has $5.7 billion in assets and 114 branches in West Virginia, Ohio and Pennsylvania.

Amtrust has about $15 billion in assets and has 66 branches in Ohio, Florida and Arizona.

(Copyright 2009 by the Associated Press. All rights reserved.)

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