Peoples Bancorp agrees to buy Capital Bancorp in $728.1 million stock deal
PEBO•Peoples Bancorp agreed to acquire Capital Bancorp in an all-stock deal valued at about $728.1 million. The combined bank is expected to have about $14 billion in assets, and the deal is targeted to close in the first half of 2027.
1. Deal terms and footprint
Capital shareholders will receive 1.11 Peoples shares for each Capital share, implying $43.75 per share based on a $39.41 reference price. Former Capital shareholders are expected to own about 32% of the combined company. The bank is expected to have about $14 billion in assets, $10 billion in loans, $11 billion in deposits and more than 150 locations. The deal expands Peoples in Washington, D.C., and Baltimore and adds Capital’s OpenSky and Windsor Advantage specialty platforms.
