RTTNews | Mar 29, 2021 07:38AM EDT

07:37 Monday, March 29, 2021 (RTTNews.com) - Peoples Bancorp Inc. (PEBO) and Premier Financial Bancorp, Inc. (PFBI), jointly announced Monday the signing of a definitive agreement and plan of merger, pursuant to which Peoples will acquire Premier Financial in an all-stock merger. The aggregate deal value is approximately $292.3 million, or $19.69 per share.

Premier Financial is a bank holding company headquartered in Huntington, West Virginia, and the parent company of Premier Bank, Inc. and Citizens Deposit Bank & Trust, Inc.

Under the terms of the merger, Premier will merge with and into Peoples, and Premier Bank and Citizens will subsequently merge with and into Peoples' wholly owned subsidiary, Peoples Bank.

According to the terms of the Merger Agreement, which has been unanimously approved by the Boards of Directors of both companies, shareholders of Premier will receive 0.58 shares of Peoples common stock for each share of Premier common stock.

The transaction is expected to be immediately accretive to Peoples' estimated earnings before one-time costs.

The acquisition is expected to close during the third quarter of 2021, subject to the satisfaction of customary closing conditions, including regulatory approvals and the approval of the shareholders of Peoples and Premier. At that time, Premier's offices will become branches of Peoples Bank.

Read the original article on RTTNews ( https://www.rttnews.com/3180850/peoples-bancorp-premier-financial-bancorp-to-merge-quick-facts.aspx)

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