• Diluted Earnings Per Share: $0.68 for the first quarter.

• Annualized Loan Growth: Over 4%.

• Deposit Balances Growth: 2% increase.

• Core Deposit Growth: Over 3%.

• Book Value Per Share: Grew 2% to $31.90.

• Tangible Book Value Per Share: Improved 4% to $20.68.

• Tangible Equity to Tangible Assets Ratio: Improved to 8.34% from 8.01% at year-end.

• Net Interest Income: Down 1% compared to the linked quarter.

• Net Interest Margin: Down 3 basis points, but expanded 3 basis points on a core basis.

• Fee-Based Income Growth: Over 2% increase.

• Non-Interest Expense: Increased slightly due to one-time expenses.

• Annualized Net Charge-Off Rate: Declined to 52 basis points from 61 basis points in the fourth quarter.

• Non-Performing Assets: Decreased over $3 million, representing 50 basis points of total assets.

• Allowance for Credit Losses: Grew nearly $2 million to 1.01% of total loans.

• Provision for Credit Losses: Increased nearly $4 million compared to the linked quarter.

• Quarterly Dividend: Increased for the 10th consecutive year to $0.41 per share.

• Efficiency Ratio: 60.7%, up from 59.6% in the linked quarter.

• Loan-to-Deposit Ratio: 83%, consistent with year-end.

• Investment Portfolio: Declined $40 million, representing 20.3% of total assets.

• Deposit Composition: 76% retail deposit balances, 24% commercial deposit balances.

• Regulatory Capital Ratios: Improved compared to year-end.

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Release Date: April 22, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Peoples Bancorp Inc (Marietta OH) (NASDAQ:PEBO) reported a 4% annualized loan growth for the first quarter, aligning with their 2025 guidance.

• The company saw improvements in asset quality metrics, including reductions in net charge-off rate, non-performing assets, and criticized and classified loans.

• Deposit balances grew by 2%, driven by higher money market and governmental deposit account balances, with a reduction in brokered CDs.

• The tangible equity to tangible assets ratio improved to 8.34% at the end of the first quarter, up from 8.01% at year-end.

• Peoples Bancorp Inc (Marietta OH) (NASDAQ:PEBO) announced an increase in their quarterly dividend for the 10th consecutive year, reflecting strong shareholder returns.

Negative Points

• Net interest income declined by 1% compared to the linked quarter, and net interest margin decreased by 3 basis points.

• The company experienced a slight increase in non-interest expenses due to one-time costs related to stock-based compensation and employer health savings account contributions.

• The provision for credit losses increased by nearly $4 million compared to the linked quarter, driven by net charge-offs.

• Fee-based income growth was modest at 2%, with declines in commercial loan swap fees, deposit account service charges, and electronic banking income.

• The small ticket leasing business continued to drive net charge-offs, although there was a decline compared to the previous quarter.