AUBURN, Ind., June 26, 2007 (PRIME NEWSWIRE) -- Maurice F. Winkler III, President, announces that Peoples Bancorp (Nasdaq:PFDC) is making application to combine its two banks into one. First Savings Bank of Three Rivers, Michigan will merge with Peoples Federal Savings Bank of DeKalb County with Peoples Federal Savings Bank being the resulting bank. Pending approval of the Office of Thrift Supervision, the regulator for both banks, the merger should take place during the fall of this year. Jeff Gatton, President of First Savings Bank, stated "The merger of the two banks provides our customers with expanded services and more locations to conduct their business. The merger should provide enhanced value to our stockholders as well. Both banks will continue to be strong supporters of the communities they serve. We are excited about this merger and the enhancements it offers to our customers."
Peoples Bancorp, through its Indiana subsidiary, Peoples Federal Savings Bank, operates nine full-service offices located in Auburn, Avilla, LaGrange, Garrett, Kendallville, Topeka, Waterloo, and two in Columbia City, Indiana. Peoples Bancorp's Michigan subsidiary, First Savings Bank, operates six full service offices located in Three Rivers (two offices), Schoolcraft, and Union in Michigan, and Howe and Middlebury in Indiana.