(RTTNews) – Shares of Capital Bancorp, Inc. (CBNK) are rising about 12 percent on Wednesday morning after the company signed an agreement and plan of merger, agreeing to be acquired by Peoples Bancorp Inc. (PEBO) in an all-stock transaction valued at $728.1 million.
The company’s shares are currently trading at $39.80 on the Nasdaq, gaining 11.66 percent in the latest session. The stock opened at $38.30 and touched an intraday high of $40.26. Over the past 12 months, the shares have traded between $26.40 and $40.26.
The merger will bring together two diversified financial services franchises with complementary business models and a shared focus on relationship banking. The transaction is expected to be immediately accretive to Peoples’ estimated earnings in 2027 before one-time costs, with a tangible book value earnback period of under three years and a pro forma return on average tangible common equity of approximately 20%. The acquisition is expected to close during the first half of 2027.
