Federal Reserve Board announces approval of application by Peoples Bancorp Inc.
The Federal Reserve Board on September 25, 2026 approved Peoples Bancorp Inc.'s application to merge with Citizens National Corporation, which will result in Peoples Bancorp indirectly acquiring Citizens Bank of Kentucky, Inc. The Board also authorized Peoples Bank, a subsidiary of Peoples Bancorp, to merge with Citizens Bank of Kentucky and to operate branches at the acquired bank's locations.
Why It Matters
The approvals permit a consolidation of banking operations across Ohio and Kentucky, allowing Peoples Bancorp and its subsidiary to expand their branch network and customer base through the acquisition. Such regulatory sign-offs are required before out-of-state bank mergers and branch transfers can proceed.
Key Facts
- Announcement date: September 25, 2026
- Applicant: Peoples Bancorp Inc., Marietta, Ohio
- Acquired company: Citizens National Corporation, Paintsville, Kentucky
- Indirecly acquired bank: Citizens Bank of Kentucky, Inc., Paintsville, Kentucky
- Subsidiary authorized to merge and operate branches: Peoples Bank, Marietta, Ohio
The Federal Reserve Board announced on September 25, 2026 that it has approved an application by Peoples Bancorp Inc., based in Marietta, Ohio, to merge with Citizens National Corporation of Paintsville, Kentucky. As part of the transaction, Peoples Bancorp will indirectly acquire Citizens Bank of Kentucky, Inc., the banking subsidiary of Citizens National Corporation.
In addition to the holding company merger approval, the Board authorized Peoples Bank, a banking subsidiary of Peoples Bancorp in Marietta, to merge directly with Citizens Bank of Kentucky, Inc. The approval permits Peoples Bank to establish and operate branches at the former locations of Citizens Bank of Kentucky.
The Board's action fulfills the federal regulatory requirement for the proposed combination of these institutions and the relocation of branch operations across state lines. No further details about deal terms, timing, or integration steps were included in the Board's announcement.
For media inquiries related to the announcement, the Federal Reserve provided an email contact at [email protected] and a phone number, (202) 452-2955.
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