Federal Reserve Board announces approval of application by Peoples Bancorp Inc.

The Federal Reserve Board announced its decision to approve Peoples Bancorp Inc.'s application to merge with Citizens National Corporation. The merger would allow Peoples Bancorp to indirectly acquire Citizens Bank of Kentucky, Inc., based in Paintsville, Kentucky. This approval follows the Board's review of the application under the Bank Holding Company Act and other relevant regulations. The decision reflects the Board's assessment of compliance with legal standards.

Peoples Bank, headquartered in Marietta, Ohio, received approval to merge with Citizens Bank of Kentucky, Inc. The merger includes provisions for establishing and operating branches at the former locations of Citizens Bank of Kentucky. This expansion will enable Peoples Bank to extend its banking services into Kentucky. The approval is subject to compliance with applicable laws and regulatory requirements.

The Federal Reserve's decision is part of its oversight role in ensuring the safety and stability of the U.S. financial system. The Board evaluated the merger's potential impact on competition, financial stability, and compliance with banking laws. No objections were raised during the review process. The approval is effective immediately upon announcement.

The merger and branch establishment are expected to proceed following the Federal Reserve's approval. Peoples Bancorp Inc. and Citizens National Corporation will finalize the transaction in accordance with the terms approved by the Board. The Federal Reserve will continue to monitor the integration to ensure ongoing compliance with regulatory standards.