Bank of Gassaway Buyout
By Erica Kearns
A Huntington based company; Premier Financial Bancorp, Inc. has purchased the Bank of Gassaway. With locations in Braxton and Clay counties, Premier’s goal of expanding their presence along the I-79 corridor is closer to being reached. The banks will not merge their operating systems until the second quarter of 2014.
Bank of Gassaway CEO Jo Ann Truman stated “We are excited by the opportunity to merge with Premier. We believe Premier is a vibrant and growing community bank franchise. Their management team has a history of operating banks that are strong, healthy performers within their local communities with an inviting, friendly community bank atmosphere. Through Premier’s network of branch locations from Logan, West Virginia to Washington, DC we believe our customers will not only enjoy the expansion in locations in which to bank but also enjoy Premier’s expanded customer conveniences such as e-statements, courtesy overdraft protection and a soon to be released mobile banking application.”
Senior Vice President Jim McQuain reassures customers that the majority of the Bank of Gassaway staff will remain the same and that most loans will still be processed and approved on the local level.