Peoples Bancorp Inc. (PEBO)

[56Chevy]

Peoples Bancorp To Expand Presence In Southeastern Ohio With The Acquisition Of Midwest Bancshares, Inc.

Date : 01/21/2014 @ 4:06PM
Source : PR Newswire (US)
Stock : Peoples Bancorp Inc. (MM) (PEBO)
Quote : $22.36 0.5 (2.29%) @ 5:20PM

MARIETTA, Ohio, Jan. 21, 2014 /PRNewswire/ -- Peoples Bancorp Inc. ("Company") (NASDAQ: PEBO), parent company of Peoples Bank, National Association (collectively with the Company, "Peoples"), and Midwest Bancshares, Inc. (OTCQB: MDWE), jointly announced today the signing of a definitive merger agreement under which Peoples will acquire Midwest Bancshares, the parent company of Jackson County Ohio-based First National Bank of Wellston ("First National"), in a cash and stock transaction with a total value of $12.6 million, or $65.50 per share.

As of December 31, 2013, Midwest Bancshares had $91 million in total assets, which included $61 million in loans, and $79 million in total deposits. First National operates two full-service banking locations, one in Wellston and one in Jackson, and three ATMs.

http://ih.advfn.com/p.php?pid=nmona&article=60745862

*Prior to the announcement MDWE was selling for $34 @ share.