Peoples Bancorp in Marietta, Ohio, has raised $40 million through a private placement.

The $2.2 billion-asset bank sold approximately 1.8 million shares of common stock to institutional investors, it said in a press release Thursday.

The proceeds will help Peoples fund its pending acquisition of the $660 million-asset NB&T Financial in Wilmington, Ohio. The deal was announced Monday.

Raymond James & Associates served as the sole placement agent for the private placement, and Dinsmore & Shohl advised the bank. 

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