NOTE 12. SUBSEQUENT EVENTS

On April 5, 2018, WesBanco completed its acquisition of First Sentry Bancshares, Inc. (“FTSB”), a bank holding company headquartered in Huntington, West Virginia. As of March 31, 2018, FTSB had approximately $705.1 million in assets excluding goodwill, $577.4 million in total deposits, $459.5 million in total loans and 5 branches in West Virginia. The acquisition was valued at approximately $107.5 million and resulted in WesBanco issuing approximately 2.5 million shares of its common stock and $1.0 million in cash in exchange for FTSB common stock. The assets and liabilities of FTSB will be recorded on WesBanco’s balance sheet at their preliminary estimated fair values as of April 5, 2018, the acquisition date, and FTSB’s results of operations will be included in WesBanco’s Consolidated Statements of Income from that date. For the three months ended March 31, 2018, WesBanco recorded merger-related expenses of $0.2 million associated with the FTSB acquisition. WesBanco accounts for business combinations using the acquisition method of accounting. The initial accounting and determination of the fair values of the assets and liabilities resulting from the acquisition was incomplete at the time of this filing due to the timing of the closing of the acquisition in relation to WesBanco’s required Form 10-Q filing deadline. A more complete disclosure of the business combination is expected to be reported in WesBanco’s Form 10-Q as of June 30, 2018.

On April 19, 2018, WesBanco and Farmers Capital Bank Corporation (“Farmers”), a bank holding company headquartered in Frankfort, Kentucky with approximately $1.7 billion in assets, $1.4 billion in deposits, $1.0 billion in loans and 34 branches, jointly announced that a definitive Agreement and Plan of Merger was executed providing for the merger of Farmers with and into WesBanco. On the date of the announcement, the transaction was valued at approximately $378.2 million. Under the terms of the Agreement and Plan of Merger, which has been approved by that board of directors of both companies, WesBanco will exchange a combination of its common stock and cash for Farmers common stock. Farmers shareholders will be entitled to receive 1.053 shares of WesBanco common stock and cash in the amount of $5.00 per share for each share of Farmers’common stock for a total value of approximately $50.31 per share at the date of announcement. The receipt by Farmers’ shareholders of shares of WesBanco common stock in exchange for their shares of Farmers common stock is anticipated to qualify as a tax-free exchange. The acquisition is subject to the approvals of the appropriate banking regulatory authorities and the shareholders of Farmers. It is expected that the transaction will be completed in the third or fourth quarter of 2018.