PEOPLES BANCORP INC
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
PEBO$38.53-0.7%Stored close · as of Nov 10, 2026
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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| (Dollars in thousands, except per share data) | 2024 | 2023 |
| Interest income: | ||
| Interest and fees on loans and leases | $110,749 | $71,762 |
| Interest and dividends on taxable investment securities | 13,919 | 11,003 |
| Interest on tax-exempt investment securities | 1,003 | 996 |
| Other interest income | 1,922 | 388 |
| Total interest income | 127,593 | 84,149 |
| Interest expense: | ||
| Interest on deposits | 33,304 | 5,661 |
| Interest on short-term borrowings | 4,184 | 4,457 |
| Interest on long-term borrowings | 3,465 | 1,153 |
| Total interest expense | 40,953 | 11,271 |
| Net interest income | 86,640 | 72,878 |
| Provision for credit losses | 6,102 | 1,853 |
| Net interest income after provision for credit losses | 80,538 | 71,025 |
| Non-interest income: | ||
| Insurance income | 6,498 | 5,425 |
| Electronic banking income | 6,046 | 5,443 |
| Trust and investment income | 4,599 | 4,084 |
| Deposit account service charges | 4,223 | 3,523 |
| Bank owned life insurance income | 1,500 | 707 |
| Lease income | 1,236 | 1,077 |
| Mortgage banking income | 321 | 314 |
| Net loss on investment securities | (1) | (1,935) |
| Net loss on asset disposals and other transactions | (341) | (246) |
| Other non-interest income | 1,698 | 668 |
| Total non-interest income | 25,779 | 19,060 |
| Non-interest expense: | ||
| Salaries and employee benefit costs | 38,893 | 32,028 |
| Net occupancy and equipment expense | 6,283 | 4,955 |
| Data processing and software expense | 5,769 | 4,562 |
| Professional fees | 2,967 | 2,881 |
| Amortization of other intangible assets | 2,788 | 1,871 |
| Electronic banking expense | 1,781 | 1,491 |
| Federal Deposit Insurance Corporation ("FDIC") insurance expense | 1,186 | 801 |
| Other loan expenses | 1,076 | 739 |
| Marketing expense | 1,056 | 930 |
| Franchise tax expense | 881 | 1,034 |
| Communication expense | 799 | 613 |
| Other non-interest expense | 4,986 | 4,574 |
| Total non-interest expense | 68,465 | 56,479 |
| Income before income taxes | 37,852 | 33,606 |
| Income tax expense | 8,268 | 7,046 |
| Net income | $29,584 | $26,560 |
| Earnings per common share - basic | $0.85 | $0.95 |
| Earnings per common share - diluted | $0.84 | $0.94 |
| Weighted-average number of common shares outstanding - basic | 34,740,349 | 27,891,760 |
| Weighted-average number of common shares outstanding - diluted | 35,051,810 | 28,021,879 |
| Cash dividends declared | $13,745 | $10,725 |
| Cash dividends declared per common share | $0.39 | $0.38 |
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