PEOPLES BANCORP INC

For the period ended Jun 30, 2024. Filed Aug 1, 2024.

About this filing

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.

Jun 30, 2024 · Filed Aug 1, 2024

PEBO$38.53-0.7%Stored close · as of Nov 10, 2026

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Contents

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

Three Months Ended · Six Months Ended
	June 30,		June 30,
(Dollars in thousands, except per share data)	2024	2023	2024	2023
Interest income:
Interest and fees on loans and leases	$112,433	91,848	$223,182	$163,610
Interest and dividends on taxable investment securities	14,841	12,771	28,760	23,774
Interest on tax-exempt investment securities	994	1,125	1,997	2,121
Other interest income	2,502	673	4,424	1,061
Total interest income	130,770	106,417	258,363	190,566
Interest expense:
Interest on deposits	35,659	14,403	68,963	20,064
Interest on short-term borrowings	4,978	5,314	9,162	9,771
Interest on long-term borrowings	3,520	1,847	6,985	3,000
Total interest expense	44,157	21,564	85,110	32,835
Net interest income	86,613	84,853	173,253	157,731
Provision for credit losses	5,683	7,983	11,785	9,836
Net interest income after provision for credit losses	80,930	76,870	161,468	147,895
Non-interest income:
Electronic banking income	6,470	6,466	12,516	11,909
Trust and investment income	4,999	4,414	9,598	8,498
Deposit account service charges	4,339	4,153	8,562	7,676
Insurance income	4,109	4,004	10,607	9,429
Lease income	1,116	1,719	2,352	2,796
Bank owned life insurance income	1,037	842	2,537	1,549
Mortgage banking income	243	189	564	503
Net loss on investment securities	(353)	(166)	(354)	(2,101)
Net loss on asset disposals and other transactions	(428)	(1,665)	(769)	(1,911)
Other non-interest income	2,172	1,059	3,870	1,727
Total non-interest income	23,704	21,015	49,483	40,075
Non-interest expense:
Salaries and employee benefit costs	36,564	38,025	75,457	70,053
Data processing and software expense	6,743	4,728	12,512	9,290
Net occupancy and equipment expense	6,142	5,380	12,425	10,335
Professional fees	2,935	7,438	5,902	10,319
Amortization of other intangible assets	2,787	2,800	5,575	4,671
Electronic banking expense	1,941	1,832	3,722	3,323
Federal Deposit Insurance Corporation ("FDIC") insurance expense	1,251	1,464	2,437	2,265
Other loan expenses	1,036	538	2,112	1,277
Franchise tax expense	760	872	1,641	1,906
Communication expense	736	724	1,535	1,337
Marketing expense	681	1,357	1,737	2,287
Other non-interest expense	7,182	5,465	12,168	10,039
Total non-interest expense	68,758	70,623	137,223	127,102
Income before income taxes	35,876	27,262	73,728	60,868
Income tax expense	6,869	6,166	15,137	13,212
Net income	$29,007	$21,096	$58,591	$47,656
Earnings per common share - basic	$0.83	$0.64	$1.67	$1.57
Earnings per common share - diluted	$0.82	$0.64	$1.66	$1.56
Weighted-average number of common shares outstanding - basic	34,764,489	32,526,962	34,752,419	30,222,165
Weighted-average number of common shares outstanding - diluted	35,117,648	32,649,976	35,071,550	30,314,504
Cash dividends declared	$14,197	$13,422	$27,942	$24,147
Cash dividends declared per common share	$0.40	$0.39	$0.79	$0.77

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