“Peoples Bank is taking a significant step in expanding our community banking franchise and furthering our strategic goals through consolidation,” said David A. Bochnowski, chairman and chief executive officer of Peoples and the Bancorp. “The merging of our two organizations offers opportunities to create operating, investment and managerial synergies while offering First Federal customers a broader menu of traditional and electronic banking products to meet their needs now and in the future,” he added.
John Freyek, president and chief executive officer of First Federal, views the merger as the means to bring together two community banks that share a similar history of local decisionmaking, great customer service and commitment to the communities they serve. “Our goal this past year has been to explore possible relationships that would be meaningful to our customers, employees and the community,” said Freyek. “We’re excited to partner with Peoples and provide our customers access to a full range of deposit, lending and wealth management product and service options while preserving our community banking roots.”