Hanscom Federal Credit Union and The Peoples Bank (MD) to Combine

Transaction Overview: Hanscom Federal Credit Union has entered into an agreement to acquire the majority of Peoples Bank's assets and liabilities in an all-cash deal, expanding its presence in Maryland and enhancing community investment capabilities across Kent, Queen Anne's, and Talbot Counties.

Future Plans and Impact: The acquisition is expected to be completed in the second half of 2025, with Hanscom planning to retain all employees of Peoples Bank and continue operating under the same name, while also increasing community giving and support initiatives.