Peoples Bancorp (PEBO) received all necessary regulatory approvals for its merger with Citizens National (CZNL), with Peoples as the surviving corporation.
The approvals also cover the merger of Peoples Bank with Citizens Bank of Kentucky, a wholly owned Citizens subsidiary. Citizens shareholders approved the April 20, 2026, merger agreement on August 6, 2026.
Peoples Bancorp (NASDAQ: PEBO) will acquire Citizens National Corporation (OTCPK: CZNL) in a cash-and-stock deal valued at approximately $76.6 million announced April 21, 2026. Citizens shareholders will receive 2.10 shares of Peoples plus $8.00 cash per share. The transaction is expected to close in second half of 2026, subject to regulatory and shareholder approvals, and is projected to be immediately accretive with a tangible book earnback of less than one year and an internal rate of return in excess of 20%.