Peoples Bancorp Inc. (Nasdaq: PEBO) announced on October 30, 2026, that it has successfully completed its acquisition of Citizens National Corporation (OTCPK: CZNL) and its wholly owned subsidiary, Citizens Bank of Kentucky, Inc. The transaction became effective as of the close of business on October 30, 2026.
The merger was originally announced on April 21, 2026. Under the terms of the agreement, shareholders of Citizens received 2.10 shares of Peoples common stock plus $8.00 in cash for each share of Citizens common stock.
As of September 30, 2026, Citizens reported total assets of approximately $646 million, total loans of $344 million, and total deposits of $551 million. Following the merger, Citizens’ 12 branches will initially operate as a division of Peoples Bank. Peoples plans to convert these branches to full Peoples Bank branches after the close of business on April 19, 2027.
Peoples reported total assets of $9.7 billion as of September 30, 2026, and maintained 144 locations across Ohio, West Virginia, Kentucky, Virginia, Washington D.C., and Maryland.
Peoples was advised by Raymond James & Associates, Inc. and the law firm of Vorys, Sater, Seymour and Pease LLP. Citizens was advised by Forvis Mazars Capital Advisors, LLC and the law firm of FBT Gibbons LLP.
