Peoples Bank $782,500 Data Breach Settlement

Consumers whom Limestone Bank, now called Peoples Bank following a 2023 acquisition, notified stating their personal information maybe have been exposed in a data breach could qualify to claim more than $5,000 from a class action settlement.

Peoples Bank agreed to pay $782,500 to resolve a class action lawsuit alleging a data breach that occurred between Nov. 21, 2022, and March 23, 2023, exposed sensitive customer information. The lawsuit claims the bank failed to adequately protect customer data, leading to unauthorized access to files containing names, dates of birth, addresses, Social Security numbers and financial account numbers.

Who is eligible for a Peoples Bank payout?

Class members must meet all of the following criteria:

• They reside in the United States.
• Their private information was potentially compromised due to the Peoples Bank data breach.
• They received a notification by or on behalf of Limestone Bank regarding the breach.

How much is the data breach payout?

• Pro-Rata Cash Payment: Estimated at $85 but dependent on the number of valid claims and total funds remaining after other expenses
• Out-of-Pocket Expense Reimbursement: Up to $5,000 per person for costs related to the security incident
• Credit Monitoring: Two years of three-bureau credit monitoring and identity theft protection, which includes a $1,000,000 identity theft insurance policy

How to claim a Peoples Bank class action rebate

To receive a settlement payment, class members must file a claim online or download and print a PDF claim form to complete and mail to the settlement administrator.

Settlement administrator's mailing address: Peoples Bank Security Incident Settlement Administrator, P.O. Box 301134, Los Angeles, CA 90030-1134

Required proof and documentation

• For online claims, class members need the Claim ID and PIN from their data breach notification.
• For out-of-pocket expense claims, class members must provide evidence of monetary losses or expenses, such as receipts, statements or other proof that the loss was related to the breach. These expenses can include unreimbursed fraud costs, professional fees, credit monitoring costs and transportation expenses.

Payout options

• Paper check mailed to the provided address
• Electronic payment

$782,500 Peoples Bank settlement fund breakdown

The $782,500 settlement fund includes:

• Settlement administration costs: To be determined
• Attorneys’ fees and expenses: Up to $260,833.33
• Service awards to class representatives: Up to $2,500 each
• Credit monitoring services: Cost determined by the number of claims submitted
• Payments to eligible class members: Remainder of the fund

Important dates

• Deadline to file a claim: Aug. 12, 2025
• Exclusion deadline: July 14, 2025
• Final approval hearing: Sept. 23, 2025

When is the Peoples Bank data breach settlement payout date?

Payments to class members will be made within 60 days of the court granting final approval of the settlement and following any claim dispute resolution.

Why was there a class action lawsuit?

The class action lawsuit alleged Peoples Bank, which acquired Limestone Bank in 2023, was responsible for a data breach in which unauthorized parties may have accessed files containing sensitive personal information. The plaintiffs claimed they were harmed by the incident.

Peoples Bank denies any wrongdoing or liability but agreed to settle to avoid the cost and uncertainty of litigation.

Sources

1. Settlement Notice
2. Settlement Agreement
3. Settlement Website FAQ