Peoples Bancorp Q2 Net Interest Income Rises on Lower Deposit Costs
PEBO sits 43% above its 52-week low of $27.49.
Summary
Peoples Bancorp reported Q2 EPS of $0.78, with net interest income rising to $92.73 million and net interest margin expanding to 4.23%, driven by lower deposit and borrowing costs. The credit loss provision declined, reflecting improved macro conditions and lower charge-offs, while non-interest income saw modest growth from electronic banking and trust services. The quarter included $0.4 million in acquisition-related expenses for the pending Citizens National merger, with shareholder votes set for August 6. This follows strong Q1 results and the definitive merger prospectus filed in June, showing steady core profitability and credit improvement ahead of the deal closing.
At the time of this announcement, PEBO was trading at $39.39 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $27.49 to $40.19. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.