Premier Financial Explained

Premier Financial Corp.
Former Name:	First Defiance Financial Corp.
Type:	Public
Traded As:	NASDAQ:
Industry:	Banking
Location:	Defiance, Ohio
Area Served:	Ohio, Michigan, Indiana, West Virginia, Pennsylvania
Revenue:	$0.148 billion (2017)
Net Income:	$0.032 billion (2017)
Assets:	$2.993 billion (2017)
Equity:	$0.373 billion (2017)
Num Employees:	674 (2017)
Footnotes:	^[1]

Premier Financial Corp., headquartered in Defiance, Ohio, is the holding company for Premier Bank. Premier Bank, headquartered in Youngstown, Ohio, operates 73 branches and 9 loan offices in Ohio, Michigan, Indiana and Pennsylvania and serves clients through a team of wealth professionals dedicated to each community banking branch. For more information, visit the company’s website at PremierFinCorp.com.

History

The bank was established in 1889 as FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF DEFIANCE.^[2]

In 2000, the name of the bank was changed to First Federal Bank of the Midwest.^[2]

In March 2008, the company acquired Pavilion Bancorp Inc. and its subsidiary, the Bank of Lenawee.^[3]

In 2012, the company repurchased the stock issued to the United States Department of the Treasury in connection with its investment in the company via the Troubled Asset Relief Program and in 2015 the company repurchased the warrants issued to the Treasury.^[4]

In February 2014, the company announced a merger with First Community Bank and entered the Columbus, Ohio market.^[5] However, in April 2014, the merger agreement was terminated.^[6]

In February 2017, the company acquired Commercial Bancshares, Inc. and The Commercial Savings Bank for $70.3 million.^[7]

In January 2020, the holding company for First Federal Bank of the Midwest merged with United Community Financial Corp. In April 2020, the new company announced the unification of their banking businesses under the new name of Premier Bank.^[8]

In July 2024, the company announced its intention to merge with WesBanco in an all stock deal valued at $959 million.^[9]

Notes and References

1. Web site: Premier Financial Corp. 2017 Form 10-K Annual Report . U.S. Securities and Exchange Commission.
2. Web site: Institution History for FIRST FEDERAL BANK OF THE MIDWEST (981275) . Federal Financial Institutions Examination Council.
3. First Defiance Completes the Acquisition of Pavilion Bancorp and Bank of Lenawee . . March 14, 2008.
4. First Defiance Financial Corp. Announces Repurchase of Outstanding TARP Warrant . . March 11, 2015.
5. First Defiance Financial Corp. to Acquire First Community Bank, Enter Columbus Market . . February 18, 2014.
6. First Defiance Financial Corp. and First Community Bank Announce Termination of Merger Agreement . . April 21, 2014.
7. First Defiance Financial Corp. Completes the Acquisition of Commercial Bancshares, Inc. and The Commercial Savings Bank . . February 27, 2017.
8. Web site: Premier Bank: First Federal, Home Savings announce name change.
9. WesBanco, Inc. Announces Transformative Merger with Premier Financial Corp. . July 26, 2024.