Premier to acquire Bank of Gassaway - WTRF 7 News Sports Weather - Wheeling Steubenville

Premier to acquire Bank of Gassaway

Posted: Updated:
  • BusinessBusinessMore>>

  • Jam-band magazine celebrates 2-year anniversary

    Jam-band magazine celebrates 2-year anniversary

    Sunday, April 20 2014 4:00 PM EDT2014-04-20 20:00:13 GMT
    Appalachian Jamwich, a Shepherdstown-based magazine dedicated to jam-band music, art and culture in West Virginia and the surrounding region, is celebrating its two-year anniversary this month.
    Appalachian Jamwich, a Shepherdstown-based print and online magazine dedicated to jam-band music, art and culture in West Virginia and the surrounding region, is celebrating its two-year anniversary this month.
  • City-wide scavenger hunt in Wheeling

    City-wide scavenger hunt in Wheeling

    Sunday, April 20 2014 2:00 PM EDT2014-04-20 18:00:09 GMT
    A new fundraising event in the Upper Ohio Valley to raise funds for Youth Services System is in the works for June 21 in downtown Wheeling.
    A new fundraising event in the Upper Ohio Valley to raise funds for Youth Services System is in the works for June 21 in downtown Wheeling.
  • Barboursville plans to grow its recreation opportunities

    Barboursville plans to grow its recreation opportunities

    Sunday, April 20 2014 1:00 PM EDT2014-04-20 17:00:13 GMT
    Commercial growth in Barboursville has allowed for improved services, and now village officials plan to build on the village's role in recreational opportunities in the region.
    Commercial growth in Barboursville has allowed for improved services, and now village officials plan to build on the village's role in recreational opportunities in the region.

Premier Bancorp has agreed to buy Gassaway Bancshares and its subsidiary Bank of Gassaway in a $20.3 million deal announced Nov. 19.

Premier is a $1.1 billion community bank holding company with two bank subsidiaries: Premier Bank, with locations in West Virginia, Virginia, Maryland and the District of Columbia; and Citizens Deposit Bank, a $366 million bank with locations in Ohio and Kentucky. It is based in Huntington.

"The Bank of Gassaway is a natural fit to expand Premier's branch network into Braxton and Clay counties with locations in Gassaway, Sutton, Flatwoods, Clay and Burnsville and geographically connects our Traders Division locations in Ripley and Spencer with our First Central Division locations in Buckhannon, Bridgeport and Philippi," Premier President and CEO Robert W. Walker said in a news release.

Premier plans to merge Bank of Gassaway's five branch locations into Premier's operating system early in the second quarter of 2014. The transaction is anticipated to close early in the second quarter of 2014.