Welcome to our dedicated page for Peoples Bancorp news (Ticker: PEBO), a resource for investors and traders seeking the latest updates and insights on Peoples Bancorp stock.
Peoples Bancorp Inc (PEBO) provides comprehensive banking and financial services across Ohio, West Virginia, Kentucky, and surrounding regions. This news hub delivers timely updates about this community-focused institution known for blending digital innovation with personalized financial solutions.
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Our centralized repository serves investors and professionals seeking to monitor PEBO’s performance in commercial banking, insurance services, and trust administration. All content is sourced from official channels to ensure accuracy and compliance with financial reporting standards.
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Peoples Bancorp Inc. (NASDAQ: PEBO) announced its Q2 2024 results, reporting net income of $29.0 million and earnings per diluted share of $0.82. This compares to $29.6 million in Q1 2024 and $21.1 million in Q2 2023. Net interest income remained stable, while net interest margin decreased to 4.18%. The provision for credit losses was $5.7 million, down from $6.1 million in Q1 2024. Non-interest income dropped by $1.6 million due to lower insurance income, and non-interest expenses rose slightly by $0.3 million.
Notably, total loans and leases increased by $122.5 million, driven by growth in various loan categories. Asset quality remained stable with improved delinquency trends. Total deposits decreased by $28.8 million, but core deposits rose by $42.0 million. The company also completed its $177.9 million merger with Limestone Bancorp, which contributed to financial results.
Looking ahead, Peoples Bancorp remains focused on maintaining stable credit metrics and managing expenses while pursuing growth opportunities.
Peoples Bancorp Inc. (Nasdaq: PEBO) will release its second quarter 2024 earnings on July 23, 2024, before the market opens. A conference call will follow at 11:00 a.m. EDT, led by CEO Tyler Wilcox and CFO Kathryn Bailey, to discuss the results and answer questions. Participants can join by dialing (866) 890-9285 or through a webcast available on the company's Investor Relations website. The audio replay will be accessible for one year.
Peoples Bancorp, headquartered in Marietta, Ohio, offers a range of banking, trust, investment, insurance, premium financing, and equipment leasing services through its subsidiaries. As of March 31, 2024, it had $9.3 billion in assets and 152 locations, including 133 full-service branches across multiple states.
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