Peoples Bancorp, parent company of Peoples Bank, has completed its acquisition of First Prestonsburg Bancshares and First Commonwealth Bank of Prestonsburg.
Peoples Bancorp and First Prestonsburg Bancshares signed a definitive agreement and plan of merger. Under the terms of the agreement, First Prestonsburg and its subsidiary, First Commonwealth Bank of Prestonsburg, will merge with and into Peoples in a transaction valued at approximately $45.4 million.
Peoples Bancorp, parent company of Peoples Bank, completed its previously announced acquisition of ASB Financial and its subsidiary, American Savings Bank.
Peoples Bank added two new executives to its team: Cindy Crotty as executive vice president and regional president and Doug Wyatt as executive vice president of Commercial Banking.
Peoples Bank announced the formation of a new commercial banking team dedicated to the development of southern Montgomery, Warren, and Clermont counties in southwest Ohio.