MARIETTA, Ohio, March 6, 2015 /PRNewswire/ -- Peoples Bancorp
Inc. ("Company") (NASDAQ: PEBO), parent company of Peoples Bank,
National Association ("Peoples Bank"; collectively with the
Company, "Peoples"), announced today that it has completed its
acquisition of NB&T Financial Group, Inc. ("NBTF") (NASDAQ:
NBTF) and its wholly-owned subsidiary, Wilmington, Ohio-based The National Bank and
Trust Company ("NB&T"), effective as of the close of business
on March 6, 2015, in a cash and stock
transaction valued at $31.00 per
share or approximately $109 million
in aggregate, including payment in cash for outstanding options.
The Company and NBTF had first announced that they had
entered into an agreement to merge in August of last year.
The completed acquisition included the merger of NB&T into
Peoples Bank. As a result, NB&T's 22 full-service banking
locations located in southwest Ohio will operate as branches of Peoples
Bank. Under the terms of the agreement, shareholders of NBTF
received 0.9319 shares of Peoples common stock and $7.75 in cash for each share of NBTF common
stock.
"We are thrilled to complete this transaction, which
dramatically expands our presence into desirable new markets in
southwest Ohio," said Chuck Sulerzyski, President and Chief Executive
Officer of Peoples. "We are appreciative of the hard work and
dedication of the employees of NB&T and Peoples in completing
this transaction. In the months ahead, we will begin
introducing clients in the region to our expanded array of products
and services, including state of the art electronic banking
services, investments and retirement planning solutions, insurance,
and an increased commercial banking capacity."
As previously announced, Peoples has hired banking veteran
Ed Reilly to lead the acquired
branches as Executive Vice President and Regional President for the
market. He brings over 30 years of banking experience to the
position, including serving as District President for Key Bank in
the southwest Ohio market from
2007 to 2012. Reilly has extensive experience in the
communities served by NB&T, and a demonstrated ability to lead
a team offering diverse financial services.
"We are excited about the opportunity to serve the customers and
communities of NB&T," said Reilly. "As a combined
organization, we can do so much more for the customers and
communities in our markets than either of us could do
individually."
At December 31, 2014, NBTF had
approximately $648 million in total
assets, $400 million in total loans
and $554 million in total
deposits.
Peoples was advised by Raymond
James & Associates, Inc. and the law firm of Dinsmore
& Shohl LLP. NBTF was advised by Keefe, Bruyette &
Woods, Inc. and the law firm Vorys, Sater, Seymour and Pease
LLP.
Peoples is a diversified financial services holding company with
$3.2 billion in total assets, 81
sales offices and 80 ATMs in Ohio,
West Virginia and Kentucky. Peoples makes available a
complete line of banking, investment, insurance and trust solutions
through its subsidiaries - Peoples Bank and Peoples Insurance
Agency, LLC. The Company's common shares are traded on the
NASDAQ Global Select Market® under the symbol "PEBO", and the
Company is a member of the Russell 3000 index of US publicly-traded
companies. Learn more about Peoples at www.peoplesbancorp.com.
Safe Harbor Statement:
Statements made in this news release that are not historical facts
are "forward-looking statements" within the meaning of Section 27A
of the Securities Act of 1933, as amended, Section 21E of the
Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995. These statements
are subject to certain risks and uncertainties including, but not
limited to, the successful completion and integration of the
transaction contemplated in this release, which includes the
retention of the acquired customer relationships, adverse changes
in economic conditions, the impact of competitive products and
pricing and the other risks set forth in the Company's filings with
the Securities and Exchange Commission ("SEC"). As a result,
actual results may differ materially from the forward-looking
statements in this news release.
Peoples encourages readers of this news release to understand
forward-looking statements to be strategic objectives rather than
absolute targets of future performance. The Company
undertakes no obligation to update these forward-looking statements
to reflect events or circumstances after the date of this news
release or to reflect the occurrence of unanticipated events,
except as required by applicable legal requirements. Copies
of documents filed with the SEC are available free of charge at the
SEC's website at http://www.sec.gov and/or from Peoples'
website.
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SOURCE Peoples Bancorp Inc.