Cornerstone Capital Bancorp Acquires Peoples Bancorp to Form Texas Growth Platform
March 3, 2026
Cornerstone Capital Bancorp, Inc., the holding company for Cornerstone Capital Bank, signed and later completed the acquisition of Peoples Bancorp, Inc., the holding company for Peoples Bank of Lubbock, Texas. The merger creates a combined Texas-focused growth platform with more than $3.4 billion in assets, retaining all Peoples Bank branches and employees and integrating Peoples Bank as a division of Cornerstone.
- Buyers
- Cornerstone Capital Bancorp, Inc., Cornerstone Capital Bank
- Targets
- Peoples Bancorp, Inc., Peoples Bank
- Sellers
- Larry Allen (former Chairman and CEO of Peoples Bank; joined boards after closing)
- Industry
- Financial Services
- Location
- Texas, United States
- Transaction Type
- Buyout
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