**Peoples Bancorp Inc. Reports Financial Results for Fiscal Year 2025**

Peoples Bancorp Inc., a financial holding company operating primarily through its subsidiary Peoples Bank, reported net income of $106.8 million for the year ended December 31, 2025. This represents a decrease compared to the $117.2 million reported in 2024 and $113.4 million in 2023. The diluted earnings per common share were $2.99, down from $3.31 in 2024 and $3.44 in 2023, with the decline attributed to increased provisions for credit losses and higher non-interest expenses.

The company's net interest income increased by 2% to $355.2 million in 2025 from $348.7 million in 2024, and $339.4 million in 2023, driven by lower deposit and borrowing costs. However, the net interest margin decreased by 7 basis points to 4.14%, primarily due to reduced accretion income, which totaled $9.6 million in 2025 compared to $25.2 million in both 2024 and 2023. The provision for credit losses increased to $42.2 million in 2025, up from $24.8 million in 2024 and $15.2 million in 2023, reflecting net charge-offs, loan growth, economic forecast deterioration, and increased reserves for leases.

Non-interest income, excluding gains and losses, rose by 6% to $109.8 million, driven by a $5.1 million increase in lease income and a $1.9 million increase in trust and investment income. Non-interest expense increased by 3% to $282.3 million, due to higher salaries and employee benefits, and data processing and software expenses. The company's efficiency ratio was 58.7% for 2025, compared to 58.0% for 2024 and 58.7% for 2023.

At year-end, total assets stood at $9.65 billion, a 4% increase from $9.25 billion in 2024, driven by growth in loans and leases, and investment securities. Total deposits increased slightly to $7.61 billion, while short-term borrowings increased by $336.8 million. The company repurchased 30,692 of its common shares for $0.8 million during 2025. Looking ahead, Peoples Bancorp anticipates positive operating leverage in 2026, excluding accretion and non-core costs, with a net interest margin between 4.00% and 4.20%. Loan growth is projected to be between 3% and 5%, and deposit balances are expected to increase slightly.

About PEOPLES BANCORP INC

Peoples Bancorp Inc. is a financial holding company primarily operating through its wholly-owned subsidiary, Peoples Bank, offering community banking, trust, investment, insurance, premium financing, and equipment leasing services. Serving diverse markets across Ohio, West Virginia, Kentucky, Virginia, Maryland, and beyond, it provides loans, deposit products, and financial solutions to individuals and businesses, leveraging a broad product mix, regional expertise, and a focus on customer service and community engagement.

This description was generated via AI from an annual report. Updated 8 months ago.

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