Mergers & Acquisitions ·
Peoples Bancorp agrees to acquire Capital Bancorp for $728M in stock
PEBOPeoples Bancorp Inc
Peoples Bancorp Inc. has entered into an agreement to acquire Capital Bancorp, Inc. in a transaction valued at approximately $728 million based on the 20-day average price. The deal is structured as full stock consideration with a fixed exchange ratio of 1.11 shares of Peoples for each share of Capital. On a pro forma basis, the combined entity will hold approximately $14 billion in assets, $10 billion in loans, and $11 billion in deposits. Management expects fully phased-in 2027 earnings-per-share accretion of roughly 19 percent and estimates pre-tax transaction expenses of $56.5 million. The merger is expected to close in the first half of 2027, subject to shareholder and regulatory approvals. Peoples Bancorp operates as a community bank holding company providing financial services primarily in Ohio, West Virginia, Kentucky, and Maryland.