In today’s top news in digital-first banking, Peoples Bancorp and Premier Financial Bancorp will combine in an all-stock merger, while PSCU will provide credit processing support for Credit Union of Texas as part of an expanded partnership. And Alabama-based Citizens Bank & Trust has selected Fiserv technology for core processing.
Peoples Bank Unites With Premier Financial In All-Stock $292 Million Merger
Peoples Bancorp and Premier Financial Bancorp will merge in an all-stock business combination valued at roughly $292.3 million. The newly merged firm will have nearly 140 deposit locations in Washington, D.C., Virginia, Maryland, Kentucky, West Virginia and Ohio. “Premier’s strong core franchise provides a natural extension of our existing markets, as well as entry into attractive markets within Virginia, Maryland and Washington, D.C.,” Peoples President and CEO Chuck Sulerzyski said in a press release.
Credit Union Of Texas Taps PSCU For Expanded Partnership
PSCU will offer credit processing support for Credit Union of Texas along with support services for debit as part of an expanded relationship. The payments credit union service organization (CUSO) has provided the credit union (CU) with debit services for many years, and it will provide credit card services and support to the CU beginning in the summer. “PSCU offered a number of enhancements to our credit card offering, including a combined credit and debit rewards program and better control over our credit risk through the CUSO’s fraud monitoring tools,” Credit Union of Texas Chief Administrative Officer Angela Faust said in a press release.
Alabama-Based Citizens Bank & Trust Chooses Fiserv Technology For Core Processing
Alabama-based Citizens Bank & Trust will strengthen its online banking experience and “drive commercial and retail growth” with Fiserv’s technology. Chris Bacon, president of Open Solutions at Fiserv, said in an announcement that the bank has “laid out a smart, comprehensive growth plan, and we look forward to enabling their team’s strategy with Fiserv technology, particularly with real-time core processing and open application programming interfaces [APIs].” Citizens Bank & Trust has over $700 million in assets.
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