Peoples Bancorp to Buy Capital Bancorp for $728 Million, Crossing $10 Billion Asset Threshold

Peoples Bancorp Inc. (PEBO) announced Wednesday an all-stock deal to acquire Rockville, Maryland-based Capital Bancorp Inc. (CBNK) for $728 million, creating a pro forma bank with $14.3 billion in assets and $11.8 billion in deposits. The Marietta, Ohio-based lender, which held $9.5 billion in assets, will cross the $10 billion threshold, triggering Durbin Amendment debit-swipe fee limits and heightened Federal Reserve supervision. The deal is expected to close in the first half of 2027. CEO Tyler Wilcox cited Capital's specialty-deposit gathering, including secured credit cards, SBA loan servicing, mortgage and commercial lending. Capital's niche units held about $3.2 billion in deposits as of June 30. Peoples projects 19% EPS accretion in 2027 and nearly 11% tangible-book-value-per-share dilution, recoverable within three years. Shares fell 5.3% to $36.80 Wednesday afternoon.