topstockalerts
Oct 1, 2:20 AM
Peoples Bancorp announced it will acquire Capital Bancorp in an all-stock transaction valued at approximately
$728.1 million. Under the merger terms, Capital shareholders will receive 1.11 Peoples common shares for each Capital share. Based on Peoples’ 20-day volume-weighted average closing price of
$39.41 as of September 29, the deal values Capital at
$43.75 per share. Former Capital shareholders are expected to own about 32% of the combined company.
The combined bank is expected to have approximately
$14 billion in total assets,
$10 billion in loans and
$11 billion in deposits, with more than 150 branches across eight states and Washington, D.C. Capital had
$3.9 billion in assets,
$3.1 billion in gross loans and
$3.4 billion in deposits as of June 30.
$PEBO $CBNK
