Peoples Bancorp Q3 2024 Update
Ticker: PEBO · Form: 10-Q · Filed: Oct 31, 2024 · CIK: 318300
Sentiment: neutral
Topics: earnings, financials, banking
Related Tickers: PEBO
TL;DR
PEBO Q3 2024: Interest income strong, non-interest income steady. Full financials out.
AI Summary
Peoples Bancorp Inc. reported its financial results for the period ending September 30, 2024. The company's filing includes details on its assets, liabilities, and income streams, with specific references to interest and fee income from loans and leases, as well as other non-interest income. The report covers the third quarter of 2024 and provides comparative data from previous periods.
Why It Matters
This filing provides insight into the financial health and performance of Peoples Bancorp Inc., which can influence investor decisions and market perception of the company.
Risk Assessment
Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative disclosures.
Key Numbers
- 2024 Q3 — Reporting Period (Financial results for the third quarter of 2024.)
- 1231 — Fiscal Year End (Indicates the end of the company's fiscal year.)
Key Players & Entities
- PEOPLES BANCORP INC (company) — Filer
- 0000318300 (company) — Central Index Key
- 20240930 (date) — Period of Report
- 20241031 (date) — Filing Date
FAQ
What was the total interest and fee income from loans and leases for the period ending September 30, 2024?
The filing references 'InterestAndFeeIncomeLoansAndLeases' but does not provide a specific dollar amount in the provided text.
What was the non-interest income for the period ending September 30, 2024?
The filing references 'NoninterestIncomeOther' but does not provide a specific dollar amount in the provided text.
What is the company's Central Index Key (CIK)?
The CIK for Peoples Bancorp Inc. is 0000318300.
When was this 10-Q filing submitted?
This 10-Q filing was submitted on October 31, 2024.
What is the state of incorporation for Peoples Bancorp Inc.?
Peoples Bancorp Inc. is incorporated in Ohio (OH).
Filing Stats: 4,643 words · 19 min read · ~15 pages · Grade level 20 · Accepted 2024-10-31 13:48:56
Filing Documents
- pebo-20240930.htm (10-Q) — 5024KB
- exhibit311202410-qq3.htm (EX-31.1) — 12KB
- exhibit312202410-qq3.htm (EX-31.2) — 13KB
- exhibit32202410-qq3.htm (EX-32) — 13KB
- pebo-20240930_g1.jpg (GRAPHIC) — 227KB
- 0000318300-24-000375.txt ( ) — 22209KB
- pebo-20240930.xsd (EX-101.SCH) — 74KB
- pebo-20240930_cal.xml (EX-101.CAL) — 181KB
- pebo-20240930_def.xml (EX-101.DEF) — 592KB
- pebo-20240930_lab.xml (EX-101.LAB) — 1057KB
- pebo-20240930_pre.xml (EX-101.PRE) — 863KB
- pebo-20240930_htm.xml (XML) — 4929KB
– 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 44 EXECUTIVE SUMMARY 47 RESULTS OF OPERATIONS 51 FINANCIAL CONDITION 66
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 78
CONTROLS AND PROCEDURES
ITEM 4. CONTROLS AND PROCEDURES 78
– OTHER INFORMATION
PART II – OTHER INFORMATION 79
LEGAL PROCEEDINGS
ITEM 1. LEGAL PROCEEDINGS 79
RISK FACTORS
ITEM 1A. RISK FACTORS 79
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 79
DEFAULTS UPON SENIOR SECURITIES
ITEM 3. DEFAULTS UPON SENIOR SECURITIES 79
MINE SAFETY DISCLOSURES
ITEM 4. MINE SAFETY DISCLOSURES 80
OTHER INFORMATION
ITEM 5. OTHER INFORMATION 80
EXHIBITS
ITEM 6. EXHIBITS 81
SIGNATURES
SIGNATURES 83 2 Table of Contents
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS PEOPLES BANCORP INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS September 30, 2024 December 31, 2023 (Dollars in thousands) (Unaudited) Assets Cash and cash equivalents: Cash and balances due from banks $ 139,244 $ 111,680 Interest-bearing deposits in other banks 144,463 315,042 Total cash and cash equivalents 283,707 426,722 Available-for-sale investment securities, at fair value (amortized cost of $ 1,189,792 at September 30, 2024 and $ 1,184,288 at December 31, 2023) (a) 1,080,667 1,048,322 Held-to-maturity investment securities, at amortized cost (fair value of $ 636,529 at September 30, 2024 and $ 612,022 at December 31, 2023) (a) 693,637 683,657 Other investment securities 55,691 63,421 Total investment securities (a) 1,829,995 1,795,400 Loans and leases, net of deferred fees and costs (b) 6,271,839 6,159,196 Allowance for credit losses ( 66,639 ) ( 62,011 ) Net loans and leases (c) 6,205,200 6,097,185 Loans held for sale 3,246 1,866 Bank premises and equipment, net of accumulated depreciation 105,202 103,856 Bank owned life insurance 143,065 140,554 Goodwill 362,414 362,169 Other intangible assets 41,508 50,003 Other assets 166,134 179,627 Total assets $ 9,140,471 $ 9,157,382 Liabilities Deposits: Non-interest-bearing $ 1,453,441 $ 1,567,649 Interest-bearing 6,029,716 5,584,648 Total deposits 7,483,157 7,152,297 Short-term borrowings 175,945 601,121 Long-term borrowings 236,824 216,241 Accrued expenses and other liabilities 119,573 134,189 Total liabilities $ 8,015,499 $ 8,103,848 Stockholders' equity Preferred shares, no par value, 50,000 shares authorized, no shares issued at September 30, 2024 or at December 31, 2023 — — Common shares, no par value, 50,000,000 shares authorized, 36,772,459 shares issued at September 30, 2024 and 36,736,041 shares issued at December 31, 2023, including at each date shares held in treasury 865,326 865,227 Retained earnings 375,396 327,237 Accumulated