Peoples Bancshares of TN in Madisonville, Tenn., has agreed to buy First Peoples Bancorp in Jefferson City, Tenn.
Peoples Bancshares said in a press release that it will have $650 million of assets after it buys the parent of First Peoples Bank of Tennessee in a deal expected to close late this year or early 2027. The price wasn’t disclosed.
“We have long respected the relationships First Peoples Bank of Tennessee has built within its communities. Together, we will be better positioned to deliver enhanced products, expanded capabilities, and continued personal service while maintaining the ‘People First’ values our customers expect,” Chris White, Peoples Bancshares’ chairman and CEO, said in the release.