Peoples Bancorp to Acquire Capital Bancorp for $728.10 Million

Peoples Bancorp Inc. (PEBO) entered a merger agreement on September 30, 2026, to acquire Capital Bancorp, Inc. (CBNK), in a deal valued at $728.10 million.

Deal Structure:

Shareholders of Capital will receive 1.11 shares of Peoples common stock for each share of Capital common stock, representing a value of $43.15 per Capital share, at a 21.03% premium from the stock’s last close.

Company Profile:

Capital Bancorp is a bank holding company based in Rockville, Maryland, providing commercial banking, residential mortgage, and secured credit card services to businesses and individual consumers. It operates through Capital Bank, N.A., serving customers across the U.S. through its branch network and digital platforms. As of June 30, 2026, Capital Bancorp had about $3.9 billion in assets.

Peoples Bancorp is a bank holding company based in Marietta, Ohio, providing banking, insurance, wealth management, trust, and specialty financing services to individuals and businesses. As of June 30, 2026, it had roughly $9.5 billion in total assets and operated 144 locations across six states and Washington, D.C.

Deal Details and Timeline:

The combined company is expected to have approximately $14 billion in total assets, $10 billion in total loans, and $11 billion in total deposits, with more than 150 banking locations across eight states and Washington, D.C.

After the merger is completed, former Capital shareholders are expected to own about 32% of Peoples.

The deal is expected to be completed in the first half of 2027.

Stephens is serving as Capital’s financial advisor, while Squire Patton Boggs is providing legal advice. Peoples is being advised financially by Raymond James & Associates and legally by Dinsmore & Shohl.

Peoples is paying 1.52 times the tangible book value for Capital.

Deal Metrics:

For a comprehensive analysis of the merger, please visit the Deal Metrics page here:
Deal Metrics for the acquisition of Capital Bancorp, Inc. (CBNK) by Peoples Bancorp Inc. (PEBO)

Our Deal Metrics page provides in-depth insights into the merger, including:

• A timeline chart detailing the history of the merger since its announcement.
• A step-by-step account of the merger’s progression, from the HSR period to regulatory approvals, shareholder votes, and beyond.
• Access to news updates and SEC filings.
• An up-to-date log of deal updates.
• And much more.

Disclaimer: This article is intended for informational purposes only. Please conduct your own thorough research before making any investment decisions. We do not guarantee the accuracy or completeness of the information provided in this article.

Editor’s Note: Baranjot Kaur contributed to this article