Houston, TX – January 30, 2026 – The Federal Reserve Board has approved Cornerstone Capital Bancorp, Inc. (“Cornerstone BHC”) to acquire Peoples Bancorp, Inc. (“Peoples BHC”), including its subsidiary Peoples Bank in Lubbock, Texas. The approval allows Cornerstone BHC to merge Peoples Bank with its own subsidiary, Cornerstone Capital Bank, SSB (CCB), in Houston.
The combined organization will control approximately $3.4 billion in consolidated assets and $2.4 billion in deposits, remaining well under 1% of total U.S. deposits, ensuring no significant impact on competition. In Texas, Cornerstone BHC will become the 53rd largest insured depository institution.
The Federal Reserve evaluated several factors, including financial and managerial resources, operational integration plans, and community service impact. Both CCB and Peoples Bank have received “Satisfactory” ratings in their recent Community Reinvestment Act (CRA) evaluations, reflecting strong performance in meeting the credit needs of their communities.