WesBanco expects the combination to be accretive to 2013 earnings per share, excluding merger-related expenses. The transaction, approved by the directors of both companies, is valued at $70.8 million, based on WesBanco's average common stock price noted above and Fidelity's diluted shares outstanding. The transaction values Fidelity at a price/common share book value of 153%, price to tangible book value of 162%, and a premium to core deposits of 6.6% based on March 31, 2012 financial results. Subject to the receipt of required approvals, it is expected that Fidelity will redeem all of its preferred stock and warrants held by the U.S. Treasury under the Capital Purchase Program prior to or upon closing of the merger. One-time charges related to the deal are anticipated to approximate $7.0 million, with cost savings totaling approximately 35% of Fidelity's total non-interest expense, to be fully phased in by 2014.