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M&A Deal Summary

Peoples Bank Acquires Limestone Bank

On October 25, 2022, Peoples Bank acquired financial services company Limestone Bank

Acquisition Highlights
  • This is Peoples Bank’s 5th transaction in the Financial Services sector.
  • This is Peoples Bank’s 6th transaction in the United States.
  • This is Peoples Bank’s 2nd transaction in Kentucky.

M&A Deal Summary
Date 2022-10-25
Target Limestone Bank
Sector Financial Services
Buyer(s) Peoples Bank
Deal Type Merger
Advisor(s) Piper Sandler & Co. (Financial)
Wyatt Tarrant & Combs (Legal)

Target

Limestone Bank

Louisville, Kentucky, United States
Limestone Bank is a state charted bank holding company with $1.1 billion in total assets. Porter's sole subsidiary bank, PBI Bank, operates 19 full service branches in the greater Louisville area and in counties south of Louisville along the Interstate 65 corridor. PBI is primarily a commercial lender with the majority of its loan portfolio in commercial real estate and construction loans. Limestone Bank was founded in 1902 and is based in Louisville, Kentucky.

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Buyer(S) 1

Buyer

Peoples Bank

Marietta, Ohio, United States
Category Company
Founded 1902
Sector Financial Services
Employees1,460
Revenue 444M USD (2024)
DESCRIPTION

Peoples Bank is a diversified financial services holding company with $3.2 billion in total assets, 82 sales offices and 80 ATMs in Ohio, West Virginia and Kentucky. Peoples Bank was founded in 1902 and is based in Marietta, Ohio.

DEAL STATS #
Overall 6 of 6
Sector: Financial Services M&A 5 of 5
Type: Merger M&A Deals 2 of 2
State: Kentucky M&A 2 of 2
Country: United States M&A 6 of 6
Year: 2022 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-16 Vantage Financial

Excelsior, Minnesota, United States

Vantage Financial is a provider of equipment financing. Vantage Financial is based in Excelsior, Minnesota.

Buy $54M
Mergr

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