Cornerstone Capital Bancorp Inc., the holding company for Cornerstone Capital Bank, announced the successful completion of its acquisition of Peoples Bancorp Inc., the holding company for Peoples Bank of Lubbock, Texas.

The combined organization now holds more than $3.4 billion in assets, strengthening Cornerstone's presence across Texas and expanding its ability to serve communities, businesses and homeowners nationwide. All acquired branches remain open as Peoples Bank, a division of Cornerstone Capital Bank.

"This marks a major step forward for Cornerstone," said Scott Almy, President and CEO of Cornerstone. "Peoples Bank brings the same passion for relationship-driven banking and mortgage origination, empowered local decision-making, and long-term community investment that defines our culture."

"Together, we're building a more powerful platform—strengthening our funding, expanding our capabilities, and unlocking meaningful, sustainable growth opportunities for each of our lines of business. We look forward to expanding our banking, retail mortgage, mortgage joint venture, homeowners insurance and loan servicing platforms across additional Texas markets."

Larry Allen, former Chairman and CEO of Peoples Bank, has joined the Boards of Cornerstone Capital Bancorp and Cornerstone Capital Bank and will serve as Area Chairman, Peoples Bank. All?the?Peoples Bank leadership team,?branch presidents,?and support teams?remain?in place.