LMST - Peoples Bancorp to acquire Limestone in all-stock merger valued at ~$208.2M

• Peoples Bancorp ( NASDAQ: PEBO ) will acquire Limestone Bancorp ( NASDAQ: LMST ) in an all-stock merger transaction valued at ~$208.2M, or $27.25 per share.
• The two companies have signed a definitive agreement and plan of merger.
• Limestone shareholders will receive 0.90 shares of Peoples for each of their share.
• The combined company will have ~$8.5B in total assets, $5.7B in total loans and $7.1B in total deposits, with 150 locations in Ohio, West Virginia, Kentucky, Maryland, Virginia and Washington, D.C.
• The merger agreement has been unanimously approved by the boards of both companies.
• The acquisition, expected to close in Q2'23, is expected to be immediately accretive to Peoples' estimated earnings before one-time costs.
• Additionally, the board of LMST approved the termination of a 2015 tax benefit preservation plan.
• The plan was amended to accelerate its expiration date to Oct. 24 in light of the merger agreement.

For further details see: