Quince Therapeutics: Cornerstone Capital Bancorp's Strategic Merger with Peoples Bancorp

### Cornerstone Capital Bancorp's Strategic Merger with Peoples Bancorp

Cornerstone Capital Bancorp, Inc. announces a significant strategic move with the signing of a definitive agreement to acquire Peoples Bancorp, Inc. This merger aims to create a substantial growth platform in Texas, serving communities, businesses, and homeowners across the nation. With this transaction, Cornerstone positions itself for enhanced market presence, as this marks its first banking acquisition since the transformative merger with Roscoe Bank in 2022. The combined entity will boast approximately $3.1 billion in assets, propelling Cornerstone into the ranks of the top 20 banks in Texas with assets under $10 billion.

The merger is expected to yield considerable benefits for both companies. It aims to reduce deposit costs by about 68 basis points, which will bolster Cornerstone's mortgage and service divisions. This decline in financing costs is projected to increase earnings capacity and improve operational efficiency. Furthermore, the integration is designed to generate significant pricing and revenue synergies while maintaining the integrity of asset quality. By leveraging enhanced resources and technology, the merger offers promising developments for Peoples' customers, ensuring they receive superior service and support.

Both Cornerstone and Peoples Bancorp share a commitment to fostering a positive workplace culture, which serves as a foundation for their integration strategy. The merger will maintain the strength of the Peoples Bank brand and its workforce, reflecting the complementary cultures of both organizations. Leadership changes post-merger include Larry Allen, the current President and CEO of Peoples, who will gain a position on the boards of both Cornerstone Capital Bancorp and Cornerstone Capital Bank. The boards have unanimously approved the merger, which awaits regulatory and shareholder approval, with the closure expected in the first quarter of 2026.

### Implications for the Local Banking Landscape

This merger could significantly alter the competitive landscape of Texas banking by enhancing the services available to customers and increasing access to financial resources. With a focus on community engagement, the newly combined entity aims to address the needs of the local population while also expanding its reach and capabilities.

As Cornerstone looks to integrate Peoples Bancorp, stakeholders can anticipate a strategic alignment that prioritizes customer service and operational excellence. This merger not only strengthens Cornerstone's market position but also underscores the importance of strategic growth in the ever-evolving banking sector.