Evansville-based Integra Bank Corp. said today it has agreed to acquire Cincinnati-based Peoples Community Bancorp Inc. in a deal valued at $85.6 million.
The cash and stock deal, approved by both companies’ boards of directors, helps boost Integra’s Cincinnati presence. Peoples Community Bank has 19 locations in southwestern Ohio and southeastern Indiana. Integra has 80 banking centers in Indiana, Kentucky, Illinois and Ohio.
The combined company will have about $4.2 billion in total assets, $3.2 billion in deposits and $2.9 billion in loans, the companies said.