MARIETTA, Ohio, March 1, 2019 /PRNewswire/ -- Peoples
Bancorp Inc. ("Peoples") (NASDAQ: PEBO), parent company of Peoples
Bank, announced today that it has received all necessary regulatory
approvals for the merger between Peoples and First Prestonsburg
Bancshares Inc. ("First Prestonsburg") and for the merger between
Peoples Bank and First Prestonsburg's wholly owned subsidiary,
First Commonwealth Bank of Prestonsburg, Inc. ("First
Commonwealth").
On February 12, 2019, the
shareholders of First Prestonsburg approved the merger with Peoples
through adoption of the previously announced definitive merger
agreement, pursuant to which First Prestonsburg will merge with and
into Peoples, and First Commonwealth will subsequently merge with
and into Peoples Bank.
Peoples expects that the closing of the merger with ASB will
occur early in the second quarter of 2019. Completion of the
merger remains subject to the satisfaction of customary closing
conditions set forth in the merger agreement.
About Peoples:
Peoples is a diversified financial products and services company
with $4.0 billion in assets, 81
locations, including 72 full-service bank branches and 76 ATMs in
Ohio, West Virginia and Kentucky. Peoples
makes available a complete line of banking, investment, insurance,
and trust solutions through its subsidiaries - Peoples Bank and
Peoples Insurance Agency, LLC. Peoples' common shares are traded on
the NASDAQ Global Select Market® under the symbol "PEBO", and
Peoples is a member of the Russell 3000 index of US publicly traded
companies. Learn more about Peoples at www.peoplesbancorp.com.
About First Prestonsburg:
First Prestonsburg Bancshares, Inc. is the parent holding
company of First Commonwealth Bank of Prestonsburg, Kentucky. First
Commonwealth Bank serves the Big
Sandy area of eastern Kentucky, with eight locations throughout
Floyd, Johnson, Magoffin, Martin and Pike Counties.
Safe Harbor Statement:
Statements made in this news release that are not historical
facts are "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, Section 21E
of the Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995. These statements
are subject to certain risks and uncertainties including, but not
limited to, the successful completion and integration of the
transaction contemplated in this release, which includes the
retention of the acquired customer relationships, adverse changes
in economic conditions, the impact of competitive products and
pricing and the other risks set forth in Peoples' filings with the
Securities and Exchange Commission ("SEC"). As a result,
actual results may differ materially from the forward-looking
statements in this news release.
Peoples encourages readers of this news release to understand
forward-looking statements to be strategic objectives rather than
absolute targets of future performance. Peoples undertakes no
obligation to update these forward-looking statements to reflect
events or circumstances after the date of this news release or to
reflect the occurrence of unanticipated events, except as required
by applicable legal requirements. Copies of documents filed
with the SEC are available free of charge at the SEC's website at
http://www.sec.gov and/or from Peoples' website.
View original
content:http://www.prnewswire.com/news-releases/peoples-bancorp-inc-receives-regulatory-approval-of-its-merger-with-first-prestonsburg-bancshares-inc-300805193.html
SOURCE Peoples Bancorp Inc.