Hanscom Federal Credit Union to acquire a majority stake in Peoples Bancorp.

Hanscom Federal Credit Union, a credit union, agreed to acquire a majority stake in Peoples Bancorp, the holding company for The Peoples Bank, a federally insured community bank. Financial terms were not disclosed. "Hanscom and Peoples Bank share similar values, placing our members, customers and people first. Through this combination, we expect to expand Peoples Bank's ability to invest in its communities across Kent, Queen Anne's and Talbot Counties. Additionally, with this enhanced geographic reach, and proximity to Washington D.C., we expect to further support our founding mission by bettering our ability to serve all individuals that serve our nation. We are proud to honor Peoples Bank's legacy and look forward to welcoming its talented team and nearly 20k customers to Hanscom. Together, we will bring expanded financial opportunities to a region rich with potential," Peter Rice, Hanscom CEO.