However, the merged company will operate under the Main Street Bank brand name and trade under the existing Main Street ticker symbol. Its charter will be retained in the deal, and the combined bank will be based out of Wayne's legacy headquarters in Wooster. The combined community bank will have an estimated $1.3 billion in total assets, 18 branches around Northeast Ohio and the West Virginia panhandle and roughly 180 employees.įor Wayne, the combination amounts to an increase in total assets of about 74%. The transaction equates to $30.53 per Wayne share based on Main Street's stock price of $17.50 as of Feb. The deal is slated to close in the second half of this year, likely around October. The companies announced the combination, which they're describing as a merger of equals, on Thursday, Feb. (OTCPK: MSWV), the parent organization of Wheeling, West Virginia's Main Street Bank Corp., in an all-stock transaction valued at $68 million. (OTCQX: WAYN), the Wooster-based holding company for Wayne Savings Community Bank, is acquiring Main Street Financial Services Corp.
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