Peoples Bancorp to buy Capital Bancorp for $728M in all-stock deal

Peoples Bancorp will acquire Rockville, Maryland-based Capital Bancorp in an all-stock transaction valued at roughly $728.1 million, with Capital Bank merging into Peoples Bank. The combined company would hold about $14 billion in total assets, $10 billion in loans and $11 billion in deposits across more than 150 locations in eight states plus Washington, D.C. Capital brings $3.9 billion in assets and four business lines including OpenSky and Windsor Advantage.

Why it matters: The deal pushes Peoples into the Washington-Baltimore corridor and adds nationwide specialty lending platforms to a community banking base.