Peoples To Acquire Limestone

(RTTNews) - Peoples Bancorp Inc. (PEBO) and Limestone Bancorp, Inc. (LMST) has signed a Merger Agreement, pursuant to which Peoples will acquire, in an all-stock merger, Limestone, a bank holding company headquartered in Louisville, Kentucky, and the parent company of Limestone Bank, Inc.

Limestone will merge with and into Peoples, and Limestone Bank will subsequently merge with and into Peoples' wholly owned subsidiary, Peoples Bank, in a deal valued at approximately $208.2 million. The merger is expected to be immediately accretive to Peoples' estimated earnings before one-time costs.

The combined company will have approximately $8.5 billion in total assets, $5.7 billion in total loans and $7.1 billion in total deposits with 150 locations in Ohio, West Virginia, Kentucky, Maryland, Virginia and Washington, D.C.