Peoples Bancorp to Acquire Capital Bancorp for $728M

Peoples Bancorp Inc. announced a proposed merger with Capital Bancorp, Inc. in a facilitated conference call. The transaction, valued at approximately $728 million, will be an all-stock deal with a fixed exchange ratio. The combined entity is expected to have around $14 billion in assets and a more diversified earnings mix, with approximately 23% of revenue from fee income. The merger is projected to be 19% accretive to EPS in 2027, with an initial tangible book value dilution of 10.8% and an earn-back period of less than three years. The transaction is anticipated to close in the first half of 2027, pending shareholder and regulatory approvals.