Peoples Bancorp in Marietta, Ohio, has obtained a $15 million credit line and has paid off an earlier loan.
The $3.3 billion-asset holding company for Peoples Banking & Trust Co. obtained the revolving line of credit from Raymond James Bank in St. Petersburg, Fla., according to a regulatory filing. The loan carries an annual rate of 3% plus Libor. Peoples closed the loan on March 4.
Peoples will use proceeds from the Raymond James credit line for potential acquisitions, stock-buybacks and for working capital and other general corporate purposes.
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Peoples Bancorp in Marietta, Ohio, plans to increase reserves by $6.6 million to cover four commercial loans that it's moved to impaired status.
December 1 -
Old Fort Banking in Tiffin, Ohio, has sold a controlling interest to its employees. The Old Fort Employees Stock Ownership and 401(k) plan bought a 45% stake in Gillmor Financial Services, the holding company for the $471 million-asset Old Fort.
January 11 -
MainSource Financial Group in Greensburg, Ind., has agreed to buy Cheviot Financial in Cincinnati.
November 24
On March 2, Peoples terminated a $15 million credit line from U.S. Bancorp in Minneapolis. Peoples did not use proceeds from the Raymond James credit line to pay off the U.S. Bancorp loan, which it had obtained in December 2012.
Peoples in December last year