Peoples Bancorp Inc. (PEBO: Quote) said Monday that it has closed its acquisition of Sistersville Bancorp, Inc. on September 14.
The completed acquisition included the merger of Sistersville's subsidiary, First Federal Savings Bank, into Peoples' subsidiary, Peoples Bank, National Association.
As a result of the merger, the two full service branches of First Federal Savings Bank, located in Sistersville and Parkersburg, West Virginia, will operate as branches of Peoples Bank.
As per terms of the acquisition, Peoples paid $30.81 in cash for each share of Sistersville common stock for a total cash consideration of $9,815,000.
Peoples Bancorp said that it expects the acquisition to be accretive to its 2013 earnings.
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by RTT Staff Writer
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