Peoples Bancorp to acquire Capital Bancorp in all-stock merger valued at about $728.1 million

Capital Bancorp Inc

Capital shareholders will receive 1.11 shares of Peoples common stock per share, implying $43.75 per share based on Peoples' 20-day VWAP of $39.41 as of Sept. 29, 2026.
The all-stock transaction is valued at approximately $728.1 million; Capital shareholders are expected to own about 32% of the combined company.
The combined company is expected to have about $14 billion in assets, $10 billion in loans and $11 billion in deposits across over 150 locations in eight states and Washington, D.C.
Capital must pay Peoples a $30.66 million termination fee under specified circumstances; deal expected to close in first half of 2027 subject to regulatory and shareholder approvals.
Capital directors and executive officers signed support agreements to vote their shares in favor; three Capital directors are expected to join Peoples' board.

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