---
schema_version: "secwatch.filing_event.v1"
accession: "0000318300-22-000290"
form_type: "8-K"
ticker: "PEBO"
cik: "0000318300"
company_name: "PEOPLES BANCORP INC"
filed_at: "2022-10-28T23:59:59+00:00"
generated_at: "2026-06-22T22:58:23.363030+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Peoples Bancorp to acquire Limestone Bancorp in stock merger; Q3 net income $26M

## Summary
- Agreed to acquire Limestone Bancorp in all-stock merger; exchange ratio 0.90x, expected close Q2 2023.
- Termination fee of $8.3M payable by Limestone under certain conditions; support agreements from key shareholders.
- Q3 2022 net income $26.0M ($0.93 diluted EPS) vs. net loss of $5.8M in Q3 2021; net interest income $67.1M (+57% YoY).
- Efficiency ratio improved to 57.2% from 94.7% a year ago, driven by expense discipline and revenue growth.
- Tangible book value per share $15.28 at Sept 30, 2022, down from $18.98 a year earlier due to acquisition-related goodwill.

## SEC filing metadata
- accession: 0000318300-22-000290
- form_type: 8-K
- ticker: PEBO
- cik: 0000318300
- company_name: PEOPLES BANCORP INC
- filed_at: 2022-10-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/318300/000031830022000290/0000318300-22-000290-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/318300/000031830022000290/pebo-20221028.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000318300-22-000290
- JSON: https://secwatch.observer/filing/0000318300-22-000290.json
- Plain text: https://secwatch.observer/filing/0000318300-22-000290.txt

## Key facts
- Earnings Releases
  PEOPLES BANCORP INC reported financial results for quarter ended September 30, 2022.
  - Period: quarter ended September 30, 2022
  - Result: reported results
  source text: On October 25, 2022, management of Peoples Bancorp Inc. (“Peoples”) conducted a facilitated conference call at approximately 11:00 a.m., Eastern Daylight Time, to discuss results of operations for the quarter ended September 30, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/318300/000031830022000290/0000318300-22-000290-index.htm
- Material Agreements
  PEOPLES BANCORP INC entered into Agreement and Plan of Merger with Limestone Bancorp, Inc. (effective 2022-10-24).
  - Action: entry
  - Agreement: merger
  - Counterparty: Limestone Bancorp, Inc.
  - Effective: 2022-10-24
  source text: On October 24, 2022, Peoples Bancorp Inc., an Ohio corporation (“Peoples”), and Limestone Bancorp, Inc., a Kentucky corporation, (“Limestone”), entered into an Agreement and Plan of Merger (the “Merger Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/318300/000031830022000290/0000318300-22-000290-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.