Peoples Bancorp and Premier Financial Bancorp Announce Definitive Merger Agreement

On Monday March 29, Peoples Bancorp (NASDAQ: PEBO) announced that it has agreed to acquire Premier Financial, Bancorp Inc. (NASDAQ: PFBI). Per the agreement, Peoples Bank will acquire Premier Bank, Inc. and Citizens Deposit Bank & Trust. Premier will merge with and into Peoples Bank. Premier Bank and Citizens will subsequently merge with and into Peoples' wholly owned subsidiary Peoples' Bank. This transaction is an all-stock deal, valued at approximately $292.3 million.

Merger Details

Premier shareholders will receive 0.58 shares of Peoples common stock for each share of Premier common stock. Premier shareholders expect the merger to qualify as a tax-free reorganization for Premier shareholders. The aggregate deal value is around $292.3 million, or $19.69 per share. This valu...

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