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/OH (NASDAQ: PEBO) is a diversified financial services holding company headquartered in Marietta, Ohio, with a long history as a community bank. Company news releases describe a heritage of financial stability, growth and community impact, and note that Peoples operates full-service bank branches in Ohio, Kentucky, West Virginia, Virginia, Washington D.C., and Maryland through Peoples Bank and its divisions.
This news page focuses on updates that Peoples regularly provides to the market. Investors can review announcements about quarterly earnings results, where management discusses net interest income, net interest margin, provisions for credit losses, non-interest income, non-interest expense, efficiency ratio and key asset quality metrics. These earnings communications often highlight trends in commercial and industrial loans, commercial real estate loans, residential real estate loans, construction loans, premium finance loans, indirect consumer loans and leases.
News coverage also includes declarations of quarterly cash dividends by the Board of Directors, along with information about payout levels and timing. Peoples issues releases in advance of its earnings calls, detailing when it intends to release results and host facilitated conference calls with analysts, media and individual investors. These calls feature commentary from senior management and a question-and-answer period, and replays are made available through the company’s investor relations channels.
In addition, Peoples periodically announces investor presentations and other communications that provide financial data and non-GAAP reconciliations. By following PEBO news, readers can monitor developments in the company’s banking, trust and investment, insurance, premium financing and equipment leasing activities, as well as its capital management and index membership in the Russell 3000.
Peoples Bancorp Inc. (NASDAQ: PEBO) has announced the retirement of George W. Broughton from its Board of Directors after 33 years of service, effective April 27, 2023. Broughton, who has been Vice Chairman since 2013, has significantly contributed to the company's resilience through economic challenges, including the Great Recession and COVID-19. His leadership has been pivotal as Peoples experienced substantial growth, with total assets of $7.2 billion as of December 31, 2022. The Board and CEO Chuck Sulerzyski expressed gratitude for his service and contributions, highlighting the importance of community involvement for the bank.
Peoples Bancorp Inc. (PEBO) declared a quarterly cash dividend of $0.38 per common share on January 23, 2023, with a payment date set for February 21, 2023. This dividend totals approximately $10.8 million, representing 40.1% of the reported fourth quarter 2022 earnings. Based on the closing stock price of $28.31 on January 20, 2023, the annualized yield stands at 5.37%. As of December 31, 2022, Peoples reported total assets of $7.2 billion and operates 130 locations across various states.
Marietta, Ohio-based Peoples Bancorp Inc. (NASDAQ: PEBO) reported a strong financial performance for the fourth quarter and full year 2022. Net income for Q4 was $26.8 million, with an earnings per diluted share of $0.95, up from $0.92 in Q3 2022 but slightly down from $0.98 in Q4 2021. For the full year, net income reached $101.3 million, signifying a substantial increase from $47.6 million in 2021. The company benefitted from rising net interest income, driven by acquisitions and higher market interest rates, with a net interest margin of 4.44%. The planned acquisition of Limestone Bancorp is set for Q2 2023, valued at approximately $208.2 million.
Peoples Bancorp Inc. (Nasdaq: PEBO) announced the election of Carol A. Schneeberger to its Board of Directors on January 23, 2023. Schneeberger, 66, previously served as Executive Vice President and Chief Administrative Officer at Peoples, contributing over 42 years of experience in banking. Her expertise spans operations, compliance, and information security, which is expected to enhance the Board's oversight capabilities. Chairman Susan Rector and CEO Chuck Sulerzyski expressed confidence in Schneeberger's ability to provide valuable insights that align with the company's strategic goals. As of December 31, 2022, Peoples had $7.2 billion in total assets and operates 130 locations.
Peoples Bancorp Inc. (Nasdaq: PEBO) will release its fourth quarter and full year 2022 earnings on January 24, 2023, before market opens. A conference call will follow at 11:00 a.m. ET featuring CEO Chuck Sulerzyski and CFO Katie Bailey, who will discuss the results and answer questions. Participants can call (866) 890-9285 or access the webcast via the company's website. Peoples Bancorp, headquartered in Marietta, Ohio, boasts $7.0 billion in assets and operates 130 locations across multiple states.
Limestone Bancorp, Inc. (NASDAQ: LMST) has announced the termination of its Tax Benefit Preservation Plan, initially established in 2015 to safeguard the company's tax assets. This move aligns with the recent merger agreement with Peoples Bancorp, Inc. (NASDAQ: PEBO), leading to an accelerated expiration of the plan as of October 24, 2022. Shareholders are not required to take any action regarding the termination. However, the company's Articles of Incorporation still enforce restrictions to protect its tax assets.
Peoples Bancorp Inc. (PEBO) and Limestone Bancorp, Inc. (LMST) have signed a definitive agreement for an all-stock merger valued at approximately $208.2 million. This merger will enhance Peoples' market presence by adding Limestone's 20 branches across Kentucky, increasing total assets to $8.5 billion upon completion. Shareholders of Limestone will receive 0.90 shares of Peoples common stock for each share of Limestone they own, with the merger expected to close in the second quarter of 2023.
The Board of Directors of Peoples Bancorp Inc. (Nasdaq: PEBO) declared a quarterly cash dividend of $0.38 per common share on October 24, 2022. This payout, amounting to approximately $10.7 million, is scheduled for payment on November 21, 2022, to shareholders of record on November 7, 2022. Based on the closing stock price of $29.60 on October 20, 2022, the dividend yields 5.14%. Peoples, headquartered in Marietta, Ohio, has total assets of $7.0 billion as of September 30, 2022, with 130 locations across several states.
Peoples Bancorp Inc. reported a third-quarter 2022 net income of $26.0 million, translating to $0.92 per diluted share, surpassing $0.88 from the prior quarter and turning around from a loss of $0.28 from Q3 2021. For the nine months ending September 30, 2022, net income reached $74.4 million ($2.65 per share), significantly up from $19.8 million a year earlier. Key drivers include a 9% increase in net interest income and a 40 basis point rise in net interest margin. However, a provision for credit losses of $1.8 million and non-core expenses affected earnings.
Peoples Bancorp Inc. (Nasdaq: PEBO) announced it will release its third quarter 2022 earnings on October 25, 2022, before market opening, followed by a conference call at 11:00 a.m. EDT. The call will feature insights from President & CEO Chuck Sulerzyski and CFO Kathryn Bailey, with a Q&A session afterwards. As of June 30, 2022, Peoples Bancorp reported $7.3 billion in total assets and operates 132 locations across multiple states. The conference call can be accessed via phone or webcast, and an audio replay will be available for one year.