Peoples Bancorp in Marietta, Ohio, has agreed to buy Citizens National in Paintsville, Kentucky. The $9.6 billion-asset Peoples said in a press release that it will pay $76.6 million in cash and stock for the $686 million-asset Citizens. The deal, which is expected to close in the second half of this year, priced Citizens at 118% of its tangible book value.
United Community Banks in Greenville, South Carolina, has agreed to buy Peach State Bancshares in Gainesville, Georgia. The $28.2 billion-asset United said in a press release that it will pay $100.8 million in cash and stock for the $788 million-asset Peach State. The deal, which is expected to close in the third quarter, priced Peach State at 194% of its tangible book value.
Points West Community Bank in Windsor, Colorado, has agreed to buy State Bank of Downs in Downs, Kansas. The $833.8 million-asset Points West applied with the FDIC on April 13 to buy the $140.3 million-asset State Bank. The price wasn’t disclosed.
M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.
