PEOPLES BANCORP INC (PEBO): M&A transaction — Peoples Bancorp completes acquisition of Limestone Bancorp; 0.90 exchange ratio

PEOPLES BANCORP INC

Acquisition effective April 30, 2023; Limestone shareholders received 0.90 PEBO shares per LMST share.
Limestone had ~$1.5B assets, $1.1B loans, $1.2B deposits as of March 31, 2023.
20 Limestone branches in KY to operate as division of Peoples Bank; conversion by Aug 4, 2023.
Peoples had $7.3B total assets as of March 31, 2023; combined entity expands Kentucky franchise.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

PEOPLES BANCORP INC completed an acquisition involving Limestone Bancorp, Inc. for 0.90 common shares of Peoples (closed 2023-04-30).

Action: acquisition
Counterparty: Limestone Bancorp, Inc.
Consideration: 0.90 common shares of Peoples
Closing: 2023-04-30

Exact text from the filing

for treasury shares and dissenting shares, both as provided for in the Merger Agreement), converted, in accordance with the procedures set forth in the Merger Agreement, into 0.90 common shares of Peoples. In addition, each Limestone shareholder who would otherwise be entitled to receive a fractional share of Peoples common stock will receive cash, without

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Source: SEC EDGAR

accession 0000318300-23-000210

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