Peoples Bancorp Inc. (PEBO) announced the completion of its acquisition of Citizens National Corporation (CZNL) and its subsidiary, Citizens Bank of Kentucky, effective as of the close of business on October 30, 2026. The acquisition expands Peoples' footprint in Eastern Kentucky, adding 12 bank branches and approximately $646 million in assets.
Key Details
- Acquisition Target: Citizens National Corporation held approximately $646 million in assets, $344 million in loans, and $551 million in deposits as of September 30, 2026.
- Transaction Terms: Citizens shareholders received 2.10 shares of Peoples common stock plus $8.00 in cash for each share of Citizens common stock.
- Integration Plan: The 12 acquired branches will initially operate as a division of Peoples Bank, with a full system conversion and rebranding scheduled to occur after the close of business on April 19, 2027.