Oct 24 (Reuters) - Asb Financial Corp
* Peoples Bancorp Inc. and ASB Financial Corp. announce definitive merger agreement
* ASB Financial Corp - transaction valued at approximately $39.6 million.
* ASB Financial Corp - under agreement, ASB will merge with and into Peoples, and American will subsequently merge with and into Peoples Bank
* Asb Financial Corp - deal is expected to be immediately accretive to peoples' estimated earnings before one-time costs
* Asb Financial - ASB shareholders to have opportunity to elect to receive 0.592 shares of peoples common stock for each share of co's stock
* Asb Financial - co's shareholders will have opportunity to get $20.00 cash/share with limit of 15% of merger consideration being paid in cash Source text for Eikon: Further company coverage: