In Brief: Ohio's Peoples Seeks To Expand in W.Va.

In the wake of its recent branch acquisition in West Virginia, officials at Marietta, Ohio-based Peoples Bancorp said they are looking for additional purchases there.

The $1 billion-asset bank increased its presence in West Virginia to six branches late last month when it agreed to buy an office from Evansville, Ind.-based Old National Bancorp. The branch, in Huntington, has $6 million of deposits and $500,000 of loans. It would be the company's first presence in Huntington.

Larry Holdren, Peoples' president of retailing, said an additional deal in West Virginia is on the way. "We're in four communities in West Virginia, and this purchase will make six offices," he said. "By the end of the year we will have another office," he said. Mr. Holdren would not comment on any possible acquisition targets or the price of Friday's deal.

Peoples CEO Robert E. Evans said the new branch is attractive because it expands Peoples' service area.

"This office will enhance our ability to serve the Huntington, W.Va./Ashland, Ky., market and increase Peoples Bancorp's presence in this growing segment of the Ohio River Valley," he said in a statement. -- Taran Provost

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