“This combination reflects a strong strategic fit, bringing together two organizations committed to relationship banking and long-term community investment,” said Scott Almy, president and CEO of Cornerstone.
“By uniting Peoples’ loyal customer base and strong local presence with Cornerstone’s national resources, we are building an organization that will deliver lasting value to our team members, communities, and shareholders.”
Peoples Bank, headquartered in Lubbock, operates 13 locations across West Texas and the Dallas–Fort Worth area.
“This merger is a natural extension of that mission,” said Larry Allen, chairman and CEO of Peoples.
“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. Our team remains in place, our local commitment remains firm, and we now have an even stronger platform for growth.”