Peoples Bank aquires Ohio Commerce Bank
MARIETTA, Ohio — Peoples Bank reported Tuesday it has completed acquisition of Ohio Commerce Bank, giving the Marietta-based bank an enhanced presence in the Cleveland area.
With the $16.5 million all-cash transaction Ohio Commerce, with total assets of $123 million, merges into Peoples Bank, according to a news release.
"We are excited by this opportunity to expand our customer base and enter a very attractive market area with a proven management team," said Chuck Sulerzyski, Peoples' President and CEO. "After much hard work and preparation, the focus now shifts to executing our integration plan and serving the financial needs of our new customers in the Cleveland region."
Peoples Bancorp Inc. is a diversified financial services holding company with $2.0 billion in total assets, 50 sales offices and 47 ATMs in Ohio, West Virginia and Kentucky.
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