Recent Updates — PEBO

Peoples Bancorp Inc. completed its acquisition of Citizens National Corporation as of the close of business on October 30, 2026. Under the agreement announced in April 2026, Citizens shareholders received 2.10 shares of Peoples common stock plus $8.00 in cash for each share held. The transaction adds approximately $646 million in total assets, $344 million in loans, and $551 million in deposits to Peoples' balance sheet. The acquisition integrates Citizens Bank into Peoples Bank, with 12 branches initially operating as a division before conversion to Peoples branding by April 2027. Peoples Bancorp Inc. is a diversified financial services holding company providing banking, trust, investment, insurance, and specialty financing solutions.

Peoples Bancorp Inc. reported third-quarter 2026 results with diluted earnings per share of $0.91, or $1.04 when adjusted for one-time items including a $4.5 million loss on investment securities and acquisition-related expenses. Net interest income grew 1 percent to $93.8 million, while the net interest margin expanded by 8 basis points. The company also highlighted a 24 percent decline in provision for credit losses to $3.6 million and an improvement in its efficiency ratio excluding one-time items. Management provided full-year 2026 guidance anticipating positive operating leverage and a net interest margin between 4.2 percent and 4.3 percent, alongside updates on pending mergers with Citizens and Capital Bancorp. Peoples Bancorp Inc. operates as a bank holding company providing financial services in Ohio.

Peoples Bancorp Inc. reported net income of $32.6 million, or diluted earnings per share of $0.91, for the third quarter ended September 30, 2026. This compares to diluted EPS of $0.78 in the second quarter and $0.83 in the prior year period. The company also announced a quarterly cash dividend of $0.42 per common share. Net interest income increased by $1.1 million to $93.8 million, driven by higher loan yields, while the provision for credit losses decreased to $3.6 million from $4.7 million in the linked quarter. The firm operates as a diversified financial services holding company providing banking, trust, investment, and insurance solutions through its subsidiaries.

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.

Peoples Bancorp Inc. announced an agreement to acquire Capital Bancorp, Inc., in an all-stock transaction valued at approximately $728.1 million based on a 20-day volume-weighted average closing price of $39.41 per share for Peoples stock. Under the terms, holders of Capital common stock will receive 1.11 shares of Peoples common stock for each share held. The merger is expected to create a combined entity with approximately $14 billion in total assets and is anticipated to close during the first half of 2027, subject to regulatory approvals and shareholder consent. This transaction expands Peoples' presence in the Washington D.C. and Baltimore markets while adding nationwide specialty financial services platforms. Peoples Bancorp Inc. operates as a diversified financial services holding company providing banking, trust, investment, insurance, and specialty financing solutions.

Peoples Bancorp Inc. announced on September 28, 2026, that it received all necessary regulatory approvals for its merger with Citizens National Corporation. Peoples will be the surviving corporation in this transaction, which was previously approved by Citizens' shareholders on August 6, 2026. The approval also covers the concurrent merger between Peoples Bank and Citizens’ subsidiary, Citizens Bank of Kentucky, Inc., with Peoples Bank as the surviving entity. Peoples Bancorp is a diversified financial services holding company providing banking, trust, investment, insurance, premium financing, and equipment leasing solutions.