The Federal Reserve has approved the merger of Peoples Bancorp Inc., based in Ohio, with Citizens National Corporation, based in Kentucky. Citizens National Corporation owns Citizens Bank of Kentucky, so Peoples Bancorp will also indirectly acquire Citizens Bank of Kentucky through this merger.
After the merger, Peoples Bank will be allowed to operate branches at the existing locations of Citizens Bank of Kentucky. Citizens Bank of Kentucky will become part of the Peoples Bank group through the merger.
Peoples Bancorp Inc. (the parent company of Peoples Bank operating in the US) reported a net income of $28.0 million for the second quarter of 2026.
Peoples Bancorp has total assets of about $9.5 billion. It has about $7.6 billion in deposits. Its bank, Peoples Bank, operates in Washington, D.C., Kentucky, Maryland, Ohio, Virginia and West Virginia. In Kentucky, Peoples Bancorp is the 19th largest insured banking organization, with deposits of about $1.6 billion, equal to 1.3% of total deposits in the state.
Citizens National has total assets of about $689.3 million and is the 1,324th largest insured banking organization in the United States. It has about $588.8 million in deposits. Its bank, Citizens Bank, operates only in Kentucky. In Kentucky, Citizens National is the 41st largest insured banking organization, with deposits of about $598.7 million.
