Peoples Bank Is Proud To Partner With Cornerstone Capital Bank
2025-10-16
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Peoples Bank, a subsidiary of Peoples Bancorp, Inc., announced today that it has entered into an agreement to merge with Cornerstone Capital Bank, a subsidiary of Cornerstone Bancorp, Inc. (“Cornerstone”). Upon closing, expected in the first quarter of 2026, Peoples Bank will operate as “Peoples Bank, a Division of Cornerstone Capital Bank.”
“Peoples Bank has proudly served our communities as a trusted local bank for many years,” said Larry Allen, CEO and Chairman of Peoples Bank. “We’ve built our reputation on hiring great people, empowering them to make local decisions, and staying deeply engaged in the markets we serve. By joining Cornerstone, a highly capitalized bank with complementary businesses, we gain the resources to better serve our customers and communities, without losing the personal approach that defines us.”
Upon the closing of the transaction, Larry Allen will serve as Area Chairman and Board Member of Cornerstone Capital Bank and Cornerstone Capital Bancorp, Inc. Todd McKee will serve as Area Vice Chairman and Tim Farris will serve as Area President. Jon Drake will serve as Senior Executive Vice President and William Booe will continue to serve as Executive Vice President. The rest of the Peoples Bank team will remain in place, and our customers will continue to work with the same familiar faces at the same locations. Cornerstone will keep the Peoples Bank name and brand in the communities that Peoples Bank currently serves.
“Peoples Bank’s strong community relationships and local leadership are exactly what we look for in a partner,” said Scott Almy, President and CEO of Cornerstone. “Cornerstone has a long history of working with leaders who know their markets best, and we are committed to keeping that expertise at the center of decision-making. Together, we will build on Peoples Bank’s legacy while bringing additional financial strength and resources to serve these communities for generations to come.”
About Cornerstone Capital Bancorp, Inc. and Cornerstone Capital Bank
Based in Houston, Texas, Cornerstone Capital Bancorp, Inc. is the parent company of Cornerstone Capital Bank, a premier national provider of mortgage finance, mortgage servicing, and banking services for businesses and consumers. Cornerstone operates full-service banking locations in Dallas, Houston, Bastrop, Sweetwater, and Roscoe, along with commercial and mortgage loan production offices in major Texas metropolitan areas and mortgage production offices nationwide.
Cornerstone’s 1,400 team members serve nearly 700,000 client account relationships. Team member-owned Cornerstone is consistently recognized as a top workplace, with Fortune Great Place to Work® certification, multiple Best Workplaces™ honors, and “Top Workplace” recognition across major markets.
Formed in 2022 through the merger of Cornerstone Home Lending and Roscoe Bank, Cornerstone traces its roots back to 1906. That transaction established Cornerstone as the highest-capitalized new bank in Texas history. Learn more at https://www.cornerstonecapital.com/.
About Peoples Bancorp, Inc. and Peoples Bank
Peoples Bancorp, Inc. is the parent company of Peoples Bank, a leading community bank with 13 locations across West Texas and the Dallas-Fort Worth area, including branches in Lorenzo, Lubbock (3), Nazareth, Post, Princeton, Seminole, Seymour, Shallowater, Slaton, and Whitney, with a loan production office located in Frisco.
Peoples Bank has been recognized multiple times by American Banker and Best Companies Group as one of the “Best Banks to Work For.” The company’s mission is to be the best employer its team members have ever worked for, the best bank its customers have ever banked with, and the best investment its shareholders have ever made.
“For many years, Peoples Bank has focused on building strong relationships and supporting the communities we serve. This merger is a natural extension of that mission. With Cornerstone’s scale and resources, we will be able to bring new products, tools, and lending capacity to our customers, while keeping the personal approach that defines Peoples Bank. Our team remains in place, our local commitment remains firms, and we now have an even stronger platform for growth.” - Larry Allen Chairman & CEO, Peoples Bank
Frequently Asked Questions
How does this affect me?
- • Access to one of the nation’s premier independent residential mortgage companies
- • Enhanced financial services and products
- • Experience advanced technology
- • Gain access to additional team members that believe in building relationships
- • Expanded presence in the fast-growing Texas market
- • Improved statewide deposit market share, moving to the top 50 among nearly 400 Texas banks
- • Broader balance sheet, technology, and resources available to Peoples Bank customers
General Questions
When will the merger happen?
The boards of both companies have unanimously approved the transaction, which remains subject to
regulatory and shareholder approvals, as well as customary closing conditions. Closing is expected in the
first quarter of 2026.
Why is Peoples Bank merging with Cornerstone?
Both institutions have decades of financial success driven by an unwavering commitment to serve our
customers and give back to our local communities. We couldn’t be prouder of the opportunity to extend the
success of two respected brands, expanding the scope of products and services, continuing to serve our
communities and providing enhanced opportunities for our team members. Each institution will bring its own
unique strengths and allow us to combine those strengths to ensure that we provide enhanced products,
services, technology in even more communities. Most importantly, you will continue to see the same familiar
faces that you have grown to trust in our current locations.
Cornerstone shares the same focus and emphasis on serving others and building relationships with their
customers. Established in 1988, Cornerstone is well respected and believes in making a positive difference in
the lives of their customers, communities and employees. They are guided by a heart of service and operate
with integrity. Like Peoples Bank, Cornerstone has been recognized as one of the “Best banks to work for” for
consecutive years.
Will there be changes?
Of course, things always change. Peoples Bank has changed over the years. We believe changes will be for
the better and our people will be involved in the decisions and implementations.
Will there be a change to the name Peoples Bank?
We will continue to use the Peoples Bank name in the communities that we currently serve. Upon
completion, Peoples Bank will operate within Cornerstone’s new Community Banking Division as, “Peoples
Bank, A Division of Cornerstone Capital Bank.”
How much notice will I be given if there are changes that affect me?
For the foreseeable future you can expect little to no changes with your account and the way you bank,
due to the merger. If there are future changes that will affect you, we will let you know as soon as possible
and provide all the necessary details. We will keep you informed about potential improvements to our
service as the integration continues.
For the latest information, you can follow us on social media, monitor your email, mail and messages within
your online banking.
What can you tell me about Cornerstone?
ornerstone is a team member–owned commercial bank and mortgage lender founded in 1988,
beginning with just five employees in a small Houston-area office. Founder Marc Laird and his family, who
maintain a controlling ownership interest, have instilled a culture that treats team members like family—a
defining feature of Cornerstone’s success. Reflecting that commitment, the Houston Chronicle has
recognized Cornerstone as a Top Workplace for more than ten consecutive years, and in 2025, USA Today
ranked it the 26th best workplace in the nation across all industries.
Cornerstone and Peoples Bank share a mission rooted in service to others and an entrepreneurial approach
to growth. Their landmark 2022 merger with Roscoe Bank made Cornerstone the most highly capitalized
new bank in Texas history. In 2024, Cornerstone ranked 10th nationally among mortgage-originating banks—
the only institution on that list measured in billions, not trillions, of assets.
With a proven record of navigating complex interest rate environments and economic cycles, Cornerstone
continues to demonstrate resilience, innovation, and purpose. Above all, the organization remains guided
by its founding mission: to make a positive difference in the lives of others.
Will the Peoples Bank employees change?
No, we are not eliminating any positions. The same friendly, familiar faces you are used to seeing will
continue to serve you.
Will they cut staff and relocate staff to Houston?
We don’t anticipate any cuts or relocation for our employees.
Account Questions
Will my Peoples Bank accounts change?
No, there will not be any changes to your daily experience with Peoples Bank. Your accounts will remain the same. In the future, we will be able to expand our account offerings and account access tools with our new partnership, but we will keep you informed of anything that could impact or improve your experience with us.
Will my Peoples Bank account numbers, routing numbers or debit card numbers change?
No, we are not making any changes to your Peoples Bank account numbers, routing numbers or debit
card numbers, unless something is compromised, just as we’ve always done.
Will my Peoples Bank debit cards still work?
Yes, your existing debit cards should not see any disruption due to the merger.
Will my Peoples Bank checks still work?
Yes, there will not be any changes to checks and deposit slips.
Will my Treasury Management or Remote Deposit services be affected?
No, everything that is already in place will operate like normal.
Online Banking or Mobile App Questions
Am I still able to access my Peoples Bank online banking and mobile app?
Yes, there will not be any changes to online banking or mobile banking credentials. The website and
mobile app will remain the same through the merger.
Will I have to reactivate my Bill Pay?
No, you will not need to make any changes to your bill payments at this time.
Lending Questions
Will there still be a mortgage department?
Yes, with Cornerstone’s strength and mortgage expertise, you will have access to a variety of mortgage
products with the same mortgage staff to serve you.
Will there be changes to loan payments?
No, there will not be any changes in how and where you make your loan payments. All existing automated
loan payment functions will remain intact.
Will my lender change?
No, you will continue to bank with the same friendly and dedicated employees Peoples Bank that you are
accustomed to.
Will loan policy change?
No, our loan approval and credit underwriting process will remain the same. The Peoples Bank lending
team will continue to be involved in local decision making.
Community Questions
Will Peoples Bank still accept donation requests and support the communities?
Peoples Bank and Cornerstone both have long track records of working to make a difference in the
communities we serve, not only through providing outstanding loan and deposit services but also by
volunteering and investing back into our local communities. We strongly believe this merger will not only
help us to expand services and products offered in our markets, but will also elevate our ability to make a
difference in the lives of our neighbors and the communities we serve. We look forward to continuing to
make a difference in our communities!
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