Dinsmore Provides Comprehensive Business Counsel in Bank M&A Deal
Dinsmore & Shohl LLP is pleased to announce client Peoples Bancorp has finalized the acquisition of First Prestonsburg Bancshares and First Commonwealth Bank of Prestonsburg in a transaction valued at approximately $43.7 million.
The complex deal, which spanned more than six months, was led by attorneys Christian Gonzalez, Michael G. Dailey, J. Eric Quinn, and Jacqueline I. Painter. It involved a competitive bid process, intensive M&A negotiations, SEC S-4 Registration Statement, regulatory filings, multiple state filings, and approval from the Department of Justice.
The deal team also called on cross-functional support, with corporate guidance, as well as employment law counsel, from eight additional Dinsmore attorneys across the firm’s Cincinnati, Washington, D.C., and Lexington offices.
On December 31, 2018, First Prestonsburg had approximately $308.5 million in total assets, $140.1 million in total loans and $236.6 million in total deposits. Peoples is a diversified financial services holding company with $4.3 billion in total assets, 89 locations, including 80 full-service bank branches, and 86 ATMs in Ohio, West Virginia and Kentucky.