Peoples Bancorp Completes Acquisition of Sistersville Bancorp for $9.815M

Peoples Bancorp

announced today that it has closed its acquisition of Sistersville Bancorp, Inc. ("Sistersville") as of the close of business on September 14, 2012. Peoples and Sistersville first announced that they had entered into an agreement to merge in June 2012. The completed acquisition included the merger of Sistersville's subsidiary, First Federal Savings Bank, into Peoples' subsidiary, Peoples Bank, National Association ("Peoples Bank"). 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. "We are delighted to be increasing our presence in Parkersburg and to be entering Sistersville," said Chuck Sulerzyski, Peoples' President and CEO. "We are excited about the opportunity to serve our new clients in those communities." Under the 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 expects the acquisition to be accretive to its 2013 earnings. At August 31, 2012, Sistersville had total assets of approximately $49 million, total loans of approximately $31 million, and total deposits of approximately $39 million. Sistersville was advised by ParaCap Group, LLC in this transaction.