Peoples Bancorp has completed its acquisition of Citizens National Corporation and its banking subsidiary, Citizens Bank of Kentucky, effective at the close of business on 30 October 2026.
Why Peoples Bancorp Inc. is buying Citizens National Corporation (Citizens Bank of Kentucky, Inc.)
Peoples said the combination strengthens its Kentucky franchise and expands its reach into Eastern Kentucky.
“We are delighted to complete this combination with Citizens,”
Deal terms and financing
Each Citizens share was exchanged for 2.10 Peoples common shares and US$8.00 in cash. The transaction was valued at about US$76.6m when it was agreed on 21 April 2026. Citizens Bank merged into Peoples Bank at closing.
Market context
Citizens operates 12 branches and reported about US$646m in total assets at 30 September 2026. Peoples had US$9.7bn in assets and 144 locations. The Citizens branches will run as a division of Peoples Bank until they convert after the close of business on 19 April 2027.
