M&A Deal Summary

Peoples Bank Acquires First Commonwealth Bank of Prestonsburg

On October 29, 2018, Peoples Bank acquired financial services company First Commonwealth Bank of Prestonsburg for 45M USD

Acquisition Highlights
  • This is Peoples Bank’s 2nd transaction in the Financial Services sector.
  • This is Peoples Bank’s 3rd largest (disclosed) transaction.
  • This is Peoples Bank’s 2nd transaction in the United States.
  • This is Peoples Bank’s 1st transaction in Kentucky.

M&A Deal Summary
Date 2018-10-29
Target First Commonwealth Bank of Prestonsburg
Sector Financial Services
Buyer(s) Peoples Bank
Deal Type Add-on Acquisition
Deal Value 45M USD

Target

First Commonwealth Bank of Prestonsburg

Prestonsburg, Kentucky, United States
First Prestonsburg Bancshares, Inc. is a provider of financial services. It own and operates eight full service branches in and around the Prestonsburg and Pikeville markets in eastern Kentucky, and is scheduled to open a ninth full service branch in Georgetown, Kentucky.

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Buyer(S) 1

Buyer

Peoples Bank

Marietta, Ohio, United States
Category Company
Founded 1902
Sector Financial Services
Employees1,498
Revenue 422M USD (2023)
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 2 of 6
Sector (Financial Services) 2 of 5
Type (Add-on Acquisition) 2 of 4
State (Kentucky) 1 of 2
Country (United States) 2 of 6
Year (2018) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-14 Sistersville Bancorp

Sistersville, West Virginia, United States

Sistersville Bancorp, Inc. is a provider of savings and financing services, primarily to individuals.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-29 Premier Bank

Huntington, West Virginia, United States

Premier Bank is a provider of community banking services to individuals and small-to-medium sized businesses. The company accepts various deposit products, including checking, NOW, savings, money market, club, individual retirement, and overdraft protection accounts, as well as certificates of deposit. Its loan products include loans for purchasing personal residences or loans for commercial or consumer purposes secured by residential mortgages. Premier Bank was founded in 1991 and is based in Huntington, West Virginia.

Buy $292M
Mergr

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