Peoples Bancorp Inc. and Capital Bancorp, Inc. Announce Merger Agreement
Key Highlights
- ➤$728.1M all-stock merger agreed between Peoples (PEBO) and Capital Bancorp (CBNK)
- ➤Capital shareholders receive 1.11 Peoples shares per CBNK share
- ➤Combined company projected at $14B assets, $10B loans and $11B deposits
- ➤Deal expected immediately accretive to Peoples’ 2027 earnings before one-time costs
- ➤Closing targeted for first half of 2027, subject to regulatory and shareholder approvals
Expert Statements
Tyler Wilcox, President and Chief Executive Officer of Peoples
“We were looking for a transaction and a partner that strengthens our franchise well beyond scale alone, and Capital does exactly that.”
Edward F. “Ed” Barry, Chief Executive Officer of Capital
“Peoples is an excellent strategic partner for Capital because it understands and values the diversified model we built.”
Steven J. Schwartz, Chairman of the Board of Capital
“We believe the merger with Peoples will give the Capital team the added scale and financial resources to continue serving our customers in a first-rate fashion with expanded product offerings and greater capacity.”
MARIETTA, Ohio, and ROCKVILLE, Md., Sept. 30, 2026 (GLOBE NEWSWIRE) -- Peoples Bancorp Inc. ("Peoples") (NASDAQ: PEBO) and Capital Bancorp, Inc. ("Capital") (NASDAQ: CBNK) jointly announced today the signing of an agreement and plan of merger (the "Merger Agreement") pursuant to which Peoples will acquire Capital in an all-stock transaction. Under the terms of the Merger Agreement, Capital will merge with and into Peoples (the "Merger"), and Capital Bank, N.A. will subsequently merge with and into Peoples' wholly owned subsidiary, Peoples Bank, in a transaction valued at approximately $728.1 million.
Upon completion of the Merger, the combined company is expected to have approximately $14 billion in total assets, $10 billion in total loans and $11 billion in total deposits, with over 150 banking locations across eight states and Washington, D.C., in addition to nationwide specialty financial services platforms.
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