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New Deal


Announced

Completed

Peoples Bancorp completed the acquisition of Limestone Bancorp for $208m.

Financials

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Transaction Value£184m
Consideration TypeOrdinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Domestic

Friendly

Single Bidder

Majority

Acquisition

United States

Banks

bank holding company

Public

Completed

Synopsis

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Peoples Bancorp, a diversified financial services holding company that makes available a complete line of banking, trust and investment, insurance, premium financing and equipment leasing solutions through its subsidiaries, completed the acquisition of Limestone Bancorp, a Louisville, Kentucky-based bank holding company, for $208m. "We are excited about our partnership with Limestone and our entrance into strategically important markets in Kentucky. We view Limestone's corporate culture and philosophy as very similar to our own and have been impressed with what John Taylor and his team have been able to accomplish. Over the years we have expanded our presence in Kentucky to 25 branches, with Limestone adding an additional 20 branches to our Kentucky footprint. We look forward to welcoming Limestone shareholders, employees and customers to become part of the Peoples team, and we are ecstatic to offer additional locations to new and existing Peoples Bank clients," Chuck Sulerzyski, Peoples President and CEO. On February 23, 2023, Limestone's shareholders approved the agreement and plan of merger with Peoples Bancorp.

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