Peoples Bancorp Inc. Announces Merger with Capital Bancorp
Peoples Bancorp Inc. (NASDAQ: PEBO) has entered into a definitive agreement to acquire Capital Bancorp, Inc. (NASDAQ: CBNK) in an all-stock transaction valued at approximately $728.1 million. The merger is expected to create a combined company with total assets of around $14 billion and over 150 banking locations across eight states and Washington, D.C., along with nationwide specialty financial services platforms. The strategic combination aims to enhance diversification by integrating Peoples' community banking, trust, insurance, and investment services with Capital's commercial banking in the Mid-Atlantic region and its national businesses such as digital consumer credit, government-guaranteed lending, and residential mortgage banking. Both companies emphasize a relationship-driven approach and shared values that align well for long-term growth. Capital had $3.9 billion in total assets as of June 30, 2026, with fee-based revenue accounting for about 22% of its second-quarter earnings. Executives from both firms expressed confidence the merger will strengthen customer service and shareholder value by leveraging complementary strengths.