Capital Bancorp agrees to all-stock merger with Peoples Bancorp valued at $728.1 million
On September 29, 2026, Capital Bancorp agreed to merge into Peoples Bancorp in an all-stock deal, with each Capital share converting into 1.11 Peoples shares. The companies put the aggregate transaction value at about $728.1 million, or $43.75 per Capital share, and expect the deal to close in the first half of 2027, subject to regulatory and shareholder approvals. Capital shareholders would hold about 32% of the combined company.
Key points
- Each Capital share converts into 1.11 Peoples shares; aggregate value about $728.1 million, or $43.75 per share, based on Peoples' 20-day volume-weighted average price of $39.41 as of September 29, 2026.
- Capital must pay Peoples a termination fee of $30.66 million in certain specified circumstances.
- Former Capital shareholders are expected to own about 32% of Peoples; three Capital directors are expected to join the Peoples board.
- Closing is expected in the first half of 2027; Capital directors and executive officers signed support agreements to vote in favor of the merger.
The filing
Written by AI on Nov 9, 2026, 10:08 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 30, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.