Peoples Bancorp Inc. · NASDAQ:PEBO
Peoples Bancorp — Merger or Acquisition (September 2026)
22 slides from Peoples Bancorp's merger presentation, Sep 30, 2026
Slide 1: Acquisition of Capital Bancorp, Inc. (NASDAQ: CBNK)
Acquisition of Capital Bancorp, Inc. (NASDAQ: CBNK) Transformational merger creating a powerful and diversified financial services franchise September 30, 2026 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement Forward-Looking Statements This communication includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which statements involve inherent risks and uncertainties. Examples of forward-looking statements include, but are not
Slide 3: Additional Information and Where to Find It and Participants
Additional Information and Where to Find It and Participants Additional Information and Where to Find It In connection with the proposed transaction, Peoples intends to file with the SEC a Registration Statement on Form S-4 to register the shares of Peoples common stock to be issued in connection wi
Slide 4: Transaction Highlights & Merger Rationale
Transaction Highlights & Merger Rationale Transformational combination with Capital accelerates Peoples' strategy through greater scale, diversification and earnings power Compelling Financially Cultural Alignment Strategic Fit Attractive(1) • Established, diversified business lines • ~19% fully-pha
Slide 5: Pro Forma Scale and Financial Profile
Pro Forma Scale and Financial Profile Creates a ~$14 billion franchise with greater scale, broader capabilities and expanded Mid-Atlantic presence Enhanced Scale(1): Comprehensive Suite of Capabilities $14.3B $2.2B Total Assets Market Cap(2) $10.8B $11.8B Gross Loans Total Deposits 9.2% 11.9% Branch
Slide 6: Adding to PEBO's Impressive M&A Track Record
Adding to PEBO’s Impressive M&A Track Record PEBO Has Driven Outperformance With Thoughtful M&A… …and CBNK is the Right Partner at the Right Time: Total Assets ($B) CBNK addresses key PEBO constraints… Organic Acquired (Cumulative) $14.3 (1) Crossing $10 billion in assets with scale Non-Bank Acquisi
Slide 7: Business Overview of Capital Bancorp, Inc. (NASDAQ: CBNK)
Business Overview of Capital Bancorp, Inc. (NASDAQ: CBNK) Capital’s diversified business model combines core banking with scalable specialty businesses Commercial Banking OpenSkyTM $2.9B $3.0B $36.4M $145.3M $166M $20.4M Portfolio Gross Loans, Customer 2026Q2 Revenue Loans, net(1) Deposits 2026Q2 Re
Slide 8: Capital Bancorp: Strong Earnings and Growth Profile
Capital Bancorp: Strong Earnings and Growth Profile Differentiated model has delivered strong profitability and growth while maintaining solid capital levels Robust Profitability 1.58% 14.1% 16.0% 5.90% ➢ Capital’s diversified business 1.09% 11.0% 11.8% 3.70% model has generated strong Peers(1) Peer
Slide 9: Differentiated Deposit Franchise
Differentiated Deposit Franchise Specialty deposit verticals support a diversified, relationship-driven funding base Capital Deposit Portfolio (MRQ) National Specialty Deposit Verticals Not For Profit Title $3.4B 92% • Focuses on nonprofit • Serves title and escrow firms MRQ Deposits Loans / Deposit
Slide 10: Complementary Capabilities Create Multiple Paths for Growth
Complementary Capabilities Create Multiple Paths for Growth Diversified, National Business Lines Meaningful Revenue Opportunities Capabilities: Expand Capital’s specialty deposit verticals across Peoples’ existing footprint and commercial client base Government guaranteed lending platform SBA / USDA
Slide 11: Broader, More Diversified Pro Forma Business Mix
Broader, More Diversified Pro Forma Business Mix Combination adds specialty funding and multiple sources of fee income while preserving a relationship- based core banking franchise Pro Forma Loan Composition(1) Pro Forma Deposit Composition(1) Pro Forma Fee Income(2) Trust & Investment, Lease Core C
Slide 12: Material Acceleration of PEBO's Growth in the Greater D.C. / Maryland / Virginia Market
Material Acceleration of PEBO’s Growth in the Greater D.C. / Maryland / Virginia Market Pro Forma Footprint Combination Adds Meaningful Scale Greater D.C. is Top U.S. Market PEBO Office (5) PEBO Evolution in Greater Washington D.C. CBNK Office (7) Wilmington 6.5 Million 2021 Establishes Greater D.C.
Slide 13: Compelling Financial Metrics
Compelling Financial Metrics Financially compelling transaction drives significant earnings accretion and top-tier profitability Attractive Financial Returns (1) Enhanced Profitability(1) Robust Capital(3) ~19% ~1.79% ~20% 9.2% Fully-Phased Fully-Phased Fully-Phased TCE Ratio 2027E EPS Accretion 202
Slide 14: Pro Forma Performance Relative to Peers
Pro Forma Performance Relative to Peers Positioning Relative to Pro Forma Peers(1) Return on Average Assets | ’27 Peer Consensus vs. ’27E Fully-Phased Pro Forma Pro Forma Impact: 1.48% 2.00% 1.42% 1.79% CBNK 1.45% Peer Median 0.82% + 34 bps Pro Forma PEBO Return on Average Tangible Common Equity | ’
Slide 15: Transaction Overview
Transaction Overview ― Aggregate transaction value of $728.1 million(1)(2) Consideration and ― Deal value per share of $43.75 (2) Value ― Fixed exchange ratio of 1.11 PEBO shares for each CBNK share ― 100% stock consideration ― Deal Value / TBV: 191% ― Deal Value / LTM Earnings: 12.9x Transaction ―
Slide 16: Transaction Assumptions
Transaction Assumptions Standalone Projections ― Both PEBO and CBNK standalone projections follow latest available consensus estimates ― 30% cost savings of CBNK’s non-interest expense Cost Savings & ― 70% phased in during 2027, 100% during 2028 and thereafter Synergies ― Revenue synergies identifie
Slide 17: Comprehensive Due Diligence
Comprehensive Due Diligence Peoples completed a comprehensive, cross-functional review of CBNK supported by multiple third-party advisors Highlights Rigorous Credit Review ― Peoples’ seasoned due diligence team leveraged extensive prior ― experience to complete a thorough review of CBNK Focused revi
Slide 18: Transformational Combination Positions Peoples for Its Next Phase of Growth
Transformational Combination Positions Peoples for Its Next Phase of Growth Combines Capital’s differentiated business lines and strong profitability with Peoples’ broad platform to enhance earnings diversification and profitability Creates meaningful growth opportunities by deepening relationships
Slide 19: Appendix
Appendix
Slide 20: Pro Forma Loan & Deposit Composition
Pro Forma Loan & Deposit Composition Loan Composition CRE & CRE & Multi- CRE & Multi-family family Multi-family 1-4 Family 38.8% 34.1% 32.1% 1-4 Family 14.7% 15.5% 1-4 Family $7.2B 17.3% $3.1B $10.3B C&D Consumer Gross 4.3% Gross Consumer Gross C&D Loans Loans C&D Loans & Other & Other 6.6% 11.9% 17
Slide 21: Capital Bancorp Stand-Alone Financial Profile
Capital Bancorp Stand-Alone Financial Profile Credit Profile Net Interest Margin Balance Sheet Composition NPAs / Assets 2026Q2 Asset Composition 6.04% 6.36% 5.94% 5.71% 5.64% 1.54% 1.62% 1.56% 1.56% 1.07% Cash & Cash Equivalents, 4.42% 4.66% 11% 4.19% 4.15% 4.04% 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2
Slide 22: Crossing the $10 Billion Threshold
Crossing the $10 Billion Threshold A Decade of Preparation Positions Peoples to Cross $10 Billion with Scale Strategic Considerations ― Peoples is ready to cross the $10 billion asset 2026 threshold following years of steady, continuous Implemented cloud-native data warehouse (Snowflake) preparation
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