Merger unites two trusted institutions and results in a Texas-based bank growth platform for local communities and businesses and for homeowners nationwide

HOUSTON, March 2, 2026 /PRNewswire/ -- Cornerstone Capital Bancorp, Inc. ("Cornerstone"), the holding company for Cornerstone Capital Bank, today announced the successful completion of its acquisition of Peoples Bancorp, Inc., the holding company for Peoples Bank of Lubbock, Texas.

The combined organization now holds more than $3.4 billion in assets, strengthening Cornerstone's presence across Texas and expanding its ability to serve communities, businesses, and homeowners nationwide. All acquired branches remain open as Peoples Bank, a division of Cornerstone Capital Bank.

"This marks a major step forward for Cornerstone," said Scott Almy, President and CEO of Cornerstone. "Peoples Bank brings the same passion for relationship‑driven banking and mortgage origination, empowered local decision‑making, and long‑term community investment that defines our culture."

"Together, we're building a more powerful platform—strengthening our funding, expanding our capabilities, and unlocking meaningful, sustainable growth opportunities for each of our lines of business. We look forward to expanding our banking, retail mortgage, mortgage joint venture, homeowners insurance and loan servicing platforms across additional Texas markets."

Larry Allen, former Chairman and CEO of Peoples Bank, has joined the Boards of Cornerstone Capital Bancorp and Cornerstone Capital Bank and will serve as Area Chairman, Peoples Bank. All the Peoples Bank leadership team, branch presidents, and support teams remain in place.

About Cornerstone Capital Bancorp, Inc. and Cornerstone Capital Bank

Cornerstone Capital Bancorp, Inc., headquartered in Houston, is a Texas‑based financial services company dedicated to helping families, businesses, and communities thrive. Through its primary subsidiary, Cornerstone Capital Bank, the organization operates a community and business banking franchise alongside a premier national home lending, servicing, and home insurance platform-based financial services company dedicated to helping families, businesses, and communities thrive.

Guided by a core Mission, Vision and Convictions statement, Cornerstone operates 16 full‑service banking locations across major Texas markets and more than 150 mortgage offices nationwide. The company has served nearly 700,000 customers through its family of brands, including Cornerstone Home Lending, Roscoe Bank, Peoples Bank, Cornerstone Servicing, and Cornerstone Insurance. Supported by 1,600 team members, Cornerstone is consistently recognized as a Fortune‑certified Great Place to Work^® and a Top Workplace.

Formed through the combination of Cornerstone Home Lending and The Roscoe State Bank, Cornerstone brings more than a century of experience and is the highest‑capitalized new bank in Texas history. Learn more at CornerstoneCapital.com.

Press Contact
Thu-Lynn "TL" Nguyen, Vice President of Marketing & Brand Strategy, (713) 353-7505, TL@cornerstonecapital.com

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SOURCE Cornerstone Capital Bank