Peoples Bancorp, Capital Bancorp to Merge in $728 Million Deal

07:43 AM EDT, 09/30/2026 (MT Newswires) -- Peoples Bancorp (PEBO) and Capital Bancorp (CBNK) have agreed to combine in an all-stock deal valued at $728.1 million, the companies said Wednesday. The agreement stipulates that Capital shareholders will receive 1.11 Peoples shares for each Capital share, the companies said. The combined company is expected to have $14 billion in assets, $10 billion in loans and $11 billion in deposits, with more than 150 banking locations across eight states and Washington, D.C, the companies said. The deal, expected to close in H1 of next year, would add Capital's commercial banking business in the Washington, D.C., and Baltimore markets, along with its digital consumer credit, government-backed lending and mortgage businesses, the companies said. The companies expect the transaction to increase Peoples' earnings in 2027 before one-time costs, they added.