Peoples Bancorp Inc. Files Q2 2024 10-Q

TL;DR

PEBO Q2 10-Q filed. Shows loan income, non-interest income, assets, liabilities. Check financials.

AI Summary

Peoples Bancorp Inc. reported its financial results for the period ending June 30, 2024. The company's filing details its assets, liabilities, and income streams, including interest and fee income from loans and leases, as well as non-interest income. Specific financial figures and comparative periods are presented within the report.

Why It Matters

This 10-Q filing provides investors and analysts with a detailed look into Peoples Bancorp Inc.'s financial health and performance for the second quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 2024 Q2 — Reporting Period (Indicates the second quarter of 2024 as the period covered by the report.)
• 1231 — Fiscal Year End (Specifies December 31 as the company's fiscal year end.)

Key Players & Entities

• PEOPLES BANCORP INC (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240801 (date) — Date of filing
• MARIETTA (location) — City of company's business and mail address
• OH (location) — State of company's business and mail address

FAQ

Filing Documents

• pebo-20240630.htm (10-Q) — 4981KB
• exhibit311202410-qq2.htm (EX-31.1) — 12KB
• exhibit312202410-qq2.htm (EX-31.2) — 13KB
• exhibit32202410-qq2.htm (EX-32) — 13KB
• pebo-20240630_g1.jpg (GRAPHIC) — 227KB
• 0000318300-24-000302.txt ( ) — 22068KB
• pebo-20240630.xsd (EX-101.SCH) — 74KB
• pebo-20240630_cal.xml (EX-101.CAL) — 178KB
• pebo-20240630_def.xml (EX-101.DEF) — 598KB
• pebo-20240630_lab.xml (EX-101.LAB) — 1054KB
• pebo-20240630_pre.xml (EX-101.PRE) — 864KB
• pebo-20240630_htm.xml (XML) — 4870KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 3

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS 3 CONSOLIDATED BALANCE SHEETS (Unaudited) 3 CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) 4 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) 5 CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) 6 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) 8 NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 9

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 43 EXECUTIVE SUMMARY 46 RESULTS OF OPERATIONS 50 FINANCIAL CONDITION 64

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 75

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 75

– OTHER INFORMATION

PART II – OTHER INFORMATION 76

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS 76

RISK FACTORS

ITEM 1A. RISK FACTORS 76

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 76

DEFAULTS UPON SENIOR SECURITIES

ITEM 3. DEFAULTS UPON SENIOR SECURITIES 76

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 77

OTHER INFORMATION

ITEM 5. OTHER INFORMATION 77

EXHIBITS

ITEM 6. EXHIBITS 78

SIGNATURES

SIGNATURES 80 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS PEOPLES BANCORP INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS June 30, 2024 December 31, 2023 (Dollars in thousands) (Unaudited) Assets Cash and cash equivalents: Cash and balances due from banks $ 119,981 $ 111,680 Interest-bearing deposits in other banks 115,890 315,042 Total cash and cash equivalents 235,871 426,722 Available-for-sale investment securities, at fair value (amortized cost of $ 1,266,060 at June 30, 2024 and $ 1,184,288 at December 31, 2023) (a) 1,119,139 1,048,322 Held-to-maturity investment securities, at amortized cost (fair value of $ 622,593 at June 30, 2024 and $ 612,022 at December 31, 2023) (a) 701,984 683,657 Other investment securities 62,742 63,421 Total investment securities (a) 1,883,865 1,795,400 Loans and leases, net of deferred fees and costs (b) 6,325,371 6,159,196 Allowance for credit losses ( 66,247 ) ( 62,011 ) Net loans and leases (c) 6,259,124 6,097,185 Loans held for sale 3,832 1,866 Bank premises and equipment, net of accumulated depreciation 106,589 103,856 Bank owned life insurance 142,605 140,554 Goodwill 362,169 362,169 Other intangible assets 44,248 50,003 Other assets 188,158 179,627 Total assets $ 9,226,461 $ 9,157,382 Liabilities Deposits: Non-interest-bearing $ 1,472,697 $ 1,567,649 Interest-bearing 5,825,077 5,584,648 Total deposits 7,297,774 7,152,297 Short-term borrowings 482,733 601,121 Long-term borrowings 234,257 216,241 Accrued expenses and other liabilities 133,864 134,189 Total liabilities 8,148,628 8,103,848 Stockholders' equity Preferred shares, no par value, 50,000 shares authorized, no shares issued at June 30, 2024 or at December 31, 2023 — — Common shares, no par value, 50,000,000 shares authorized, 36,760,516 shares issued at June 30, 2024 and 36,736,041 shares issued at December 31, 2023, including at each date shares held in treasury 863,975 865,227 Retained earnings 357,886 327,237 Accumulated other comprehensive loss, ne

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