Peoples Bank to Acquire Citizens Deposit Bank & Trust, Premier Bank
People Bank announced that it has entered into an agreement to acquire Citizens Deposit Bank & Trust and Premier Bank, Inc.
The acquisition is expected to be completed later this year subject to regulatory and shareholder approval.
The move will position Peoples with 136 locations in Kentucky, Ohio, West Virginia, Maryland, Virginia, and Washington, D.C.
Boone, Kenton, and Campbell counties will be a new market for Peoples Bank.
Among the Citizens locations in those counties are branches in Cold Spring, Florence, and Fort Wright.
After the acquisition, Peoples Bank will be in the top fifteen of bank offices in Kentucky and Ohio, a news release said.
When the acquisition is complete, all locations will become Peoples Bank branches.
Further details for customers will be released in the third quarter of 2021, a news release said.