Newton, Illinois and Rantoul, Illinois – June 15, 2026 – Peoples Bancorp, Inc. ("Peoples"), the parent company of The Peoples State Bank of Newton, Illinois, and Bancorp of Rantoul, Inc. ("Rantoul"), the parent company of Bank of Rantoul, jointly announced today the signing of a definitive agreement under which Rantoul will merge with and into Peoples in a cash transaction.

As of March 31, 2026, Bank of Rantoul reported approximately $284 million in assets, $225 million in deposits, and $103 million in loans. With branches in Rantoul and Rossville, the merger brings Peoples a new foothold in central Illinois — adding scale to the combined franchise while reinforcing the community-focused approach that has always defined Peoples.

With an expected closing date in the fourth quarter of 2026, the pro forma institution is estimated to have approximately $950 million of assets, $800 million of deposits, and total loans of $630 million. Rantoul’s Chairman and co-CEO Denny Long will join the combined Bank as Central Market CEO and Craig Rogers will join the combined Company as Market President.

“This strategic partnership brings together two complementary organizations,” stated Stacy Moore, President and CEO of The Peoples State Bank. “Our banks share a similar culture and commitment to serving our customers and our communities with a relationship-based approach to banking. We are delighted to welcome the employees and customers from the Bank of Rantoul and believe the future is bright for our combined company.”

The Bank of Rantoul Chairman and co-CEO Denny Long commented, “We are thrilled to have found a like-minded partner in Peoples.  Our shared philosophy, culture and commitment to the communities we serve was evident from our first meeting together. This combination will have a positive impact on our customers, employees, communities and shareholders alike. We are excited about the expanded products and services that will be available to our customers going forward.”

The merger agreement has been unanimously approved by the respective Boards of Directors of Rantoul and Peoples. Completion of the merger is subject to normal and customary closing conditions, including receipt of required regulatory approvals and approval by the shareholders of Rantoul.

Performance Trust Capital Partners, LLC acted as the exclusive financial advisor, and Vedder Price P.C. served as legal counsel to Peoples in connection with the transaction. Olsen Palmer LLC served as the exclusive financial advisor, and Hinshaw & Culbertson LLP served as legal counsel to Rantoul in connection with the transaction.

About Peoples
The Peoples State Bank of Newton, Illinois is a local, community-focused bank headquartered in Newton, Illinois, and wholly owned subsidiary of Peoples Bancorp, Inc..  Peoples  was founded in 1875 and is the oldest financial institution in Jasper County.  The bank currently serves customers across nine branch locations spanning Jasper, Lawrence, Fayette, Bond, and Marion Counties, reflecting its long history of steady organic growth and strategic expansion, including key branch acquisitions in Lawrenceville, Bridgeport, Greenville, Salem, and Vandalia.  Peoples is deeply committed to delivering quality, personalized service and making a meaningful impact across the communities it calls home. By preserving the personal touch that defines true community banking, The Peoples State Bank of Newton, Illinois continues to meet the evolving financial needs of its customers and support the economic vitality of the region. To learn more about Peoples and their commitment to their communities, please visit psbnewton.com. Member FDIC.

About Rantoul
Bank of Rantoul is a locally owned and operated community bank headquartered in Rantoul, Illinois, and wholly owned subsidiary of Bancorp of Rantoul, Inc.. The bank was organized in 1920 and operates two full-service branches across central Illinois, reflecting its strong community presence and steadfast dedication to relationship-driven banking. Under accessible, customer-first leadership, Bank of Rantoul has built its reputation as a trusted financial partner in the communities it serves. To learn more about the Bank of Rantoul, please visit bankofrantoul.bank. Member FDIC.