Net Income and Profitability - Net income for Q4 2024 was $26.9 million, a decrease from $31.7 million in Q3 2024 and $33.8 million in Q4 2023[1] - For the full year 2024, net income was $117.2 million, compared to $113.4 million in 2023[1] - Net income for the year ended December 31, 2024, was $117.21 million, up from $113.36 million in 2023, a 3.4% increase[68] - Net income for the three months ended December 31, 2024, was $26,930 thousand, compared to $31,684 thousand in the previous quarter and $33,825 thousand in the same period last year[99] - Annualized net income adjusted for non-core items for the three months ended December 31, 2024, was $116,181 thousand, compared to $125,972 thousand in the previous quarter and $145,127 thousand in the same period last year[99] - Net income excluding amortization of other intangible assets for the three months ended December 31, 2024, was $29,142 thousand, compared to $33,885 thousand in the previous quarter and $36,409 thousand in the same period last year[103] - Annualized net income excluding amortization of other intangible assets for the three months ended December 31, 2024, was $115,934 thousand, compared to $134,803 thousand in the previous quarter and $144,449 thousand in the same period last year[103] Net Interest Income and Margin - Net interest income for Q4 2024 decreased by $2.4 million (3%) compared to Q3 2024, driven by lower accretion income[4] - Net interest margin for Q4 2024 decreased to 4.15% from 4.27% in Q3 2024[4] - Net interest margin for Q4 2024 was 4.15%, down from 4.43% in Q4 2023[64] - Net interest income for the year ended December 31, 2024, was $348.70 million, up from $339.37 million in 2023, a 2.7% increase[68] - Net interest income for Q4 2024 was $86,822 thousand, compared to $88,734 thousand in Q4 2023, with a net interest margin of 4.15%[86] - Net interest income on a fully tax-equivalent basis for Q4 2024 was $86.82 million, down from $88.73 million in Q4 2023[94] - Net interest income for the year ended December 31, 2024, was $350,009 thousand, with a net interest margin of 4.21%[89] Non-Interest Income and Expense - Total non-interest income, excluding net gains and losses, increased by $1.2 million (5%) in Q4 2024 compared to Q3 2024[4] - Total non-interest expense increased by $4.4 million (7%) in Q4 2024 compared to Q3 2024[4] - Non-interest expense for Q4 2024 was $70.5 million, compared to $66.1 million in Q3 2024 and $67.7 million in Q4 2023[25] - Total non-interest income for the year ended December 31, 2024, was $99.37 million, compared to $87.41 million in 2023, a 13.7% increase[68] - Core non-interest expense for Q4 2024 was $69.36 million, compared to $66.41 million in Q4 2023[94] - Total non-interest income for Q4 2024 was $25.09 million, compared to $24.13 million in Q4 2023[94] Loan and Lease Balances - Period-end total loan and lease balances increased by $86.2 million (5% annualized) in Q4 2024 compared to Q3 2024[4] - Total loan and lease balances at December 31, 2024 increased by $86.2 million (5% annualized) compared to September 30, 2024, driven by $97.5 million growth in commercial and industrial loans[32] - Total loan and lease balances at December 31, 2024 increased by $198.8 million compared to December 31, 2023, driven by organic growth in commercial and industrial loans ($162.7 million) and premium finance portfolios ($66.3 million)[33] - Loans and leases, net of deferred fees and costs, as of December 31, 2024, were $6.36 billion, compared to $6.16 billion in 2023, a 3.2% increase[73] - Total loans and leases increased to $6,358,003 thousand in December 2024, up from $6,159,196 thousand in December 2023[79] - Total loans increased to $6,241,228 thousand in Q4 2024, up from $6,094,217 thousand in Q4 2023, with a yield of 7.01%[86] - Total loans for the year ended December 31, 2024, averaged $6,238,070 thousand, yielding 7.14%, compared to $5,590,453 thousand in 2023 with a yield of 6.79%[89] Deposit Balances - Period-end total deposit balances increased by $111.9 million (2%) in Q4 2024 compared to Q3 2024[5] - Total deposits increased by $111.9 million compared to September 30, 2024, driven by increases in brokered certificates of deposit ($59.1 million), non-interest bearing deposits ($54.2 million), and retail certificates of deposit ($37.3 million)[41] - Period-end deposit balances increased by $442.8 million (6%) compared to December 31, 2023, primarily due to a $478.0 million increase in retail certificates of deposit[42][43] - Retail deposit balances accounted for 79% of total deposits at December 31, 2024, while commercial deposits made up 21%[44] - Uninsured deposits were 26% of total deposits at December 31, 2024, with $656.9 million (33%) of uninsured deposits collateralized by investment securities[45] - Average deposit balances increased by $211.4 million (3%) compared to the linked quarter and $509.3 million (7%) compared to Q4 2023[46] - Total deposits as of December 31, 2024, were $7.60 billion, up from $7.15 billion in 2023, a 6.3% increase[75] - Total deposits grew to $7,595,079 thousand in December 2024, compared to $7,152,297 thousand in December 2023[79] - Total demand deposits as a percent of total deposits were 34.14% in December 2024, down from 37.92% in December 2023[79] - Total interest-bearing deposits grew to $6,061,069 thousand in Q4 2024, up from $5,498,566 thousand in Q4 2023, with a cost of 2.44%[86] Credit Quality and Provisions - Provision for credit losses in Q4 2024 was $6.3 million, compared to $6.7 million in Q3 2024 and $1.3 million in Q4 2023[12] - Nonperforming assets decreased by $20.8 million (30%) compared to Q3 2024 but increased by $9.6 million (24%) compared to Q4 2023[36] - Criticized loans increased by $3.7 million (2%) compared to Q3 2024 and $6.1 million (3%) compared to Q4 2023, primarily due to loan downgrades[37] - Classified loans decreased by $4.4 million (3%) compared to Q3 2024 but increased by $8.8 million (7%) compared to Q4 2023, driven by loan and lease downgrades[38] - Annualized net charge-offs increased to 0.61% of average total loans in Q4 2024, up from 0.38% in the linked quarter and 0.23% in Q4 2023, driven by higher charge-offs in North Star Leasing[39] - The allowance for credit losses decreased by $3.3 million compared to September 30, 2024, but increased by $1.3 million compared to December 31, 2023, with the allowance ratio at 1.00% of total loans as of December 31, 2024[40] - Net charge-offs for the year ended December 31, 2024, were $23,223 thousand, compared to $8,547 thousand in the previous year[82] - Provision for credit losses for the year ended December 31, 2024, was $24,787 thousand, up from $15,174 thousand in the previous year[82] - Nonperforming assets (NPAs) as a percent of total assets decreased to 0.53% in December 2024 from 0.43% in December 2023[79] Investment Securities - Available-for-sale investment securities decreased by $2.9 million compared to Q3 2024 but increased by $35.2 million compared to Q4 2023[28] - Held-to-maturity investment securities increased by $81.2 million compared to Q3 2024 and $91.1 million compared to Q4 2023[29] - Investment securities averaged $1,910,266 thousand in Q4 2024, yielding 3.42%, compared to $1,768,033 thousand in Q4 2023 with a yield of 3.23%[86] Capital and Equity - Total stockholders' equity decreased by $13.4 million (1%) compared to September 30, 2024, but increased by $58.1 million (6%) compared to December 31, 2023[47][48] - The tier 1 risk-based capital ratio was 12.40% at December 31, 2024, compared to 12.59% at September 30, 2024, and 12.37% at December 31, 2023[49] - Book value per common share was $31.26 at December 31, 2024, compared to $31.65 at September 30, 2024, and $29.83 at December 31, 2023[50] - Total stockholders' equity as of December 31, 2024, was $1.11 billion, up from $1.05 billion in 2023, a 5.5% increase[76] - Common equity tier 1 capital ratio improved to 11.96% in December 2024 from 11.56% in December 2023[79] - Total risk-based capital ratio (tier 1 and tier 2) increased to 13.59% in December 2024 from 13.17% in December 2023[79] - Total stockholders' equity to total assets ratio increased to 12.01% in December 2024 from 11.50% in December 2023[79] - Tangible equity as of December 31, 2024, was $709.17 million, up from $641.36 million in December 2023[96] - Tangible book value per common share increased to $19.94 in Q4 2024 from $18.16 in Q4 2023[96] - Tangible equity to tangible assets ratio was 8.01% in Q4 2024, up from 7.33% in Q4 2023[96] Earnings Per Share and Ratios - Basic earnings per common share for Q4 2024 were $0.77, down from $0.97 in Q4 2023[64] - Diluted earnings per common share for Q4 2024 were $0.76, compared to $0.96 in Q4 2023[64] - Return on average stockholders' equity for Q4 2024 was 9.56%, down from 13.39% in Q4 2023[64] - Return on average tangible equity for Q4 2024 was 16.15%, compared to 24.45% in Q4 2023[64] - Efficiency ratio for Q4 2024 was 59.57%, up from 55.98% in Q4 2023[64] - Dividend payout ratio for Q4 2024 was 52.79%, compared to 41.75% in Q4 2023[64] - Book value per common share at the end of Q4 2024 was $31.26, up from $29.83 at the end of Q4 2023[64] - Tangible book value per common share at the end of Q4 2024 was $19.94, compared to $18.16 at the end of Q4 2023[64] - Earnings per common share (diluted) for the year ended December 31, 2024, was $3.31, compared to $3.44 in 2023, a 3.8% decrease[71] - Return on average stockholders' equity for the three months ended December 31, 2024, was 9.56%, compared to 11.46% in the previous quarter and 13.39% in the same period last year[103] - Return on average tangible equity for the three months ended December 31, 2024, was 16.15%, compared to 19.40% in the previous quarter and 24.45% in the same period last year[103] Asset and Liability Management - Total assets as of December 31, 2024, were $9.25 billion, compared to $9.16 billion in 2023, a 1.1% increase[77] - Cash and cash equivalents as of December 31, 2024, were $217.66 million, down from $426.72 million in 2023, a 49.0% decrease[73] - Total earning assets averaged $8,208,999 thousand in Q4 2024, yielding 6.20%, up from $7,858,046 thousand in Q4 2023 with a yield of 6.29%[86] - Total liabilities and stockholders' equity reached $9,146,057 thousand in Q4 2024, compared to $8,826,655 thousand in Q4 2023[86] - Total assets as of December 31, 2024, were $9.25 billion, up from $9.16 billion in December 2023[96] Other Financial Metrics - Accretion income, net of amortization expense, was $4.9 million in Q4 2024, down from $8.1 million in Q3 2024 and $9.3 million in Q4 2023[9] - The efficiency ratio for Q4 2024 was 59.6%, up from 55.1% in Q3 2024 and 56.0% in Q4 2023, primarily due to lower revenue[25][26] - Income tax expense for Q4 2024 was $7.9 million with an effective tax rate of 22.7%, down from $9.2 million in Q3 2024 and $9.7 million in Q4 2023[27] - Closing price of common shares at the end of Q4 2024 was $31.69, down from $33.76 at the end of Q4 2023[64] - Total interest income for the year ended December 31, 2024, was $520.78 million, compared to $439.40 million in 2023, reflecting an 18.5% increase[68] - Trust assets under administration and management stood at $2,061,267 thousand in December 2024, slightly down from $2,124,320 thousand in September 2024[85] - Adjusted revenue for Q4 2024 was $113.65 million, slightly down from $115.08 million in Q4 2023[94] - Pre-provision net revenue for Q4 2024 was $42.86 million, down from $47.03 million in Q4 2023[98] - Return on average assets for the three months ended December 31, 2024, was 1.17%, compared to 1.38% in the previous quarter and 1.52% in the same period last year[99] - Return on average assets adjusted for non-core items for the three months ended December 31, 2024, was 1.27%, compared to 1.38% in the previous quarter and 1.64% in the same period last year[99]

Company Performance - Peoples Bancorp reported quarterly earnings of $0.82 per share, exceeding the Zacks Consensus Estimate of $0.75 per share, but down from $1.04 per share a year ago, indicating an earnings surprise of 9.33% [1] - The company posted revenues of $111.63 million for the quarter, surpassing the Zacks Consensus Estimate by 1.99%, although this is a decrease from year-ago revenues of $112.92 million [2] - Over the last four quarters, the company has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] Market Performance - Peoples Bancorp shares have declined approximately 1.2% since the beginning of the year, contrasting with the S&P 500's gain of 2% [3] - The current Zacks Rank for Peoples Bancorp is 4 (Sell), indicating expectations of underperformance in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.72 on revenues of $111.05 million, and for the current fiscal year, it is $3.16 on revenues of $450 million [7] - The outlook for the industry, specifically the Banks - Midwest sector, is favorable, ranking in the top 14% of over 250 Zacks industries, suggesting potential for better performance compared to lower-ranked industries [8]

Core Points - Peoples Bancorp Inc. reported a net income of $26.9 million for Q4 2024, down from $31.7 million in Q3 2024 and $33.8 million in Q4 2023, with earnings per diluted common share of $0.76 [1][2] - For the full year 2024, net income was $117.2 million, an increase from $113.4 million in 2023, with earnings per diluted common share of $3.31 compared to $3.44 in 2023 [1][2] Statement of Operations Highlights - The increase in net income for 2024 marked the third consecutive year of record net income for the company [2] - Higher swap fee income driven by customer demand contributed to the increase in net income [3] Balance Sheet Highlights - The merger with Limestone Bancorp was completed on April 30, 2023, valued at $177.9 million, with acquisition-related expenses recorded [5] - Total loan and lease balances increased by $86.2 million, or 5% annualized, compared to September 30, 2024, driven by growth in commercial and industrial loans [13][32] Net Interest Income - Net interest income for Q4 2024 was $86.5 million, a decrease of $2.4 million from the linked quarter, with a net interest margin of 4.15% [6][13] - For the full year 2024, net interest income increased by $9.3 million, or 3%, compared to 2023, driven by higher market interest rates and additional income from the Limestone Merger [9][10] Provision for Credit Losses - The provision for credit losses was $6.3 million for Q4 2024, down from $6.7 million in Q3 2024, but up from $1.3 million in Q4 2023 [11][12] - For the full year 2024, the provision for credit losses was $24.8 million, compared to $15.2 million in 2023, primarily due to higher net charge-offs and loan growth [12] Non-Interest Income and Expense - Total non-interest income, excluding net gains and losses, increased by $1.2 million, or 5%, for Q4 2024 compared to the linked quarter, driven by higher swap fee income [18] - Total non-interest expense increased by $4.4 million, or 7%, for Q4 2024 compared to the linked quarter, primarily due to acquisition-related expenses [21][22] Asset Quality - Overall asset quality remained stable, with delinquency trends showing 98.7% of loans considered current as of December 31, 2024 [36] - Nonperforming assets decreased by $20.8 million, or 30%, compared to September 30, 2024, but increased by $9.6 million, or 24%, compared to December 31, 2023 [37] Deposits - Total deposits increased by $111.9 million, or 2%, compared to September 30, 2024, driven by increases in brokered certificates of deposit and core deposits [42] - Compared to December 31, 2023, total deposit balances increased by $442.8 million, or 6% [43] Stockholders' Equity - Total stockholders' equity decreased by $13.4 million, or 1%, compared to September 30, 2024, primarily due to an increase in accumulated other comprehensive loss [47] - Compared to December 31, 2023, total stockholders' equity increased by $58.1 million, or 6% [48] Capital Ratios - The tier 1 risk-based capital ratio was 12.40% at December 31, 2024, compared to 12.59% at September 30, 2024 [49] - The common equity tier 1 risk-based capital ratio improved to 11.96% at December 31, 2024, compared to 11.80% at September 30, 2024 [49]

Core Viewpoint - Analysts expect Peoples Bancorp (PEBO) to report quarterly earnings of $0.75 per share, reflecting a year-over-year decline of 27.9%, with revenues projected at $109.45 million, down 3.1% from the previous year [1]. Earnings Estimates - Revisions to earnings estimates are crucial indicators for predicting investor actions regarding the stock, with empirical research showing a strong correlation between earnings estimate trends and short-term stock performance [2]. Key Metrics Projections - The consensus estimate for 'Average Balance - Total earning assets' is $8.29 billion, up from $7.86 billion year-over-year [4]. - Analysts project 'Net Interest Margin' to be 4.1%, down from 4.4% in the previous year [4]. - The expected 'Efficiency ratio' is 61.9%, compared to 56% a year ago [4]. Non-Interest Income Estimates - The consensus for 'Total Non-interest income' is $25.18 million, up from $24.13 million year-over-year [5]. - 'Electronic banking income' is expected to reach $6.45 million, down from $6.84 million in the previous year [5]. - 'Insurance income' is projected at $4.40 million, slightly up from $4.34 million reported last year [5]. Interest Income Projections - 'Deposit account service charges' are forecasted at $4.54 million, compared to $4.49 million in the same quarter last year [6]. - 'Net Interest Income' is expected to be $84.74 million, down from $88.37 million year-over-year [6]. - 'Net interest income on a fully tax-equivalent basis' is projected at $84.85 million, compared to $88.78 million reported last year [7]. Market Performance - Shares of Peoples Bancorp have decreased by 8.3% over the past month, while the Zacks S&P 500 composite has moved down by 3.3% [8]. - With a Zacks Rank 4 (Sell), PEBO is anticipated to underperform the overall market in the near future [8].

Company Overview - Peoples Bancorp Inc. is a diversified financial services holding company offering a complete line of banking, trust and investment, insurance, premium financing, and equipment leasing solutions through its subsidiaries [5] - The company has been headquartered in Marietta, Ohio since 1902, showcasing a heritage of financial stability, growth, and community impact [5] - As of September 30, 2024, Peoples Bancorp had total assets of $9.1 billion and operated 149 locations, including 130 full-service bank branches across several states [5] Upcoming Earnings Release - Peoples Bancorp intends to release its fourth quarter and full year 2024 earnings before the market opens on January 21, 2025 [3] - A facilitated conference call with analysts, media, and individual investors will take place at 11:00 a.m. Eastern Time on the same date [3] - The conference call will feature commentary from the President and CEO, Tyler Wilcox, and the CFO and Treasurer, Kathryn Bailey, followed by a question and answer session [4] Conference Call Details - Participants are encouraged to join the live conference call at least 15 minutes prior to the scheduled start time [1] - The dial-in number for the call is (866) 890-9285, and a simultaneous webcast will be available in listen-only mode [4] - An audio replay of the conference call will be accessible online for one year via the "Investor Relations" section of Peoples' website [4] Market Position - Peoples Bancorp is a member of the Russell 3000 index of U.S. publicly-traded companies, indicating its significant presence in the market [6] - The company provides services through various divisions, including Peoples Bank, Peoples Insurance Agency, LLC, and Vantage Financial, LLC [6]

Core Insights - Peoples Bancorp reported a revenue of $113.71 million for the quarter ended September 2024, reflecting a decrease of 2.7% year-over-year, with EPS at $0.89 compared to $1.06 in the same quarter last year [1] - The reported revenue exceeded the Zacks Consensus Estimate of $112.3 million by 1.25%, while the EPS surpassed the consensus estimate of $0.83 by 7.23% [1] Financial Performance Metrics - Total earning assets averaged $8.19 billion, below the average estimate of $8.34 billion from three analysts [2] - Net Interest Margin was reported at 4.3%, slightly above the estimated 4.2% [2] - Efficiency ratio stood at 55.1%, significantly better than the average estimate of 60.6% [2] - Net charge-offs as a percentage of average total loans (annualized) were 0.4%, higher than the average estimate of 0.3% [2] - Mortgage banking income was $1.05 million, exceeding the estimated $0.23 million [2] - Total Non-interest income reached $24.79 million, slightly below the average estimate of $24.93 million [2] - Electronic banking income was $6.36 million, below the estimated $6.60 million [2] - Bank owned life insurance income was $0.46 million, significantly lower than the average estimate of $1.08 million [2] - Insurance income was reported at $4.27 million, slightly below the estimated $4.40 million [2] - Deposit account service charges totaled $4.52 million, above the average estimate of $4.34 million [2] - Net Interest Income was $88.91 million, exceeding the estimated $87.22 million [2] - Net interest income on a fully tax-equivalent basis was $89.23 million, compared to the average estimate of $87.10 million [2] Stock Performance - Shares of Peoples Bancorp have returned +0.7% over the past month, underperforming the Zacks S&P 500 composite's +2.8% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Group 1: Earnings Performance - Peoples Bancorp reported quarterly earnings of $0.89 per share, exceeding the Zacks Consensus Estimate of $0.83 per share, but down from $1.06 per share a year ago, indicating a year-over-year decline [1] - The earnings surprise for the quarter was 7.23%, and the company has surpassed consensus EPS estimates three times over the last four quarters [1] - The company posted revenues of $113.71 million for the quarter, surpassing the Zacks Consensus Estimate by 1.25%, but down from $116.91 million year-over-year [1] Group 2: Stock Performance and Outlook - Peoples Bancorp shares have declined approximately 9.8% since the beginning of the year, contrasting with the S&P 500's gain of 22.7% [2] - The current consensus EPS estimate for the upcoming quarter is $0.82 on revenues of $112.55 million, and for the current fiscal year, it is $3.29 on revenues of $448.75 million [4] Group 3: Industry Context - The Banks - Midwest industry, to which Peoples Bancorp belongs, is currently ranked in the top 26% of over 250 Zacks industries, suggesting a favorable industry outlook [5] - Another company in the same industry, 1st Source, is expected to report quarterly earnings of $1.36 per share, reflecting a year-over-year increase of 3% [5]

Core Viewpoint - Peoples Bancorp (PEBO) is anticipated to report a year-over-year decline in earnings due to lower revenues for the quarter ended September 2024, with the consensus outlook indicating a significant impact on its near-term stock price based on actual results compared to estimates [1][3]. Earnings Expectations - The upcoming earnings report is expected to show quarterly earnings of $0.83 per share, reflecting a year-over-year decrease of 21.7%, while revenues are projected to be $112.3 million, down 3.9% from the previous year [3]. - The consensus EPS estimate has been revised 0.8% lower in the last 30 days, indicating a reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that the Most Accurate Estimate for Peoples Bancorp is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +2.72%, although the stock holds a Zacks Rank of 4, complicating predictions of an earnings beat [10]. - A positive Earnings ESP is generally a strong predictor of an earnings beat, especially when combined with a favorable Zacks Rank [8]. Historical Performance - In the last reported quarter, Peoples Bancorp was expected to post earnings of $0.85 per share but delivered $0.84, resulting in a surprise of -1.18% [11]. - Over the past four quarters, the company has beaten consensus EPS estimates three times [12]. Industry Comparison - Wintrust Financial (WTFC), another player in the Zacks Banks - Midwest industry, is expected to report earnings of $2.50 per share for the same quarter, indicating a year-over-year change of -1.2%, with revenues expected to rise by 8.1% to $621.35 million [16]. - Wintrust's consensus EPS estimate has been revised 0.3% upward in the last 30 days, and it has an Earnings ESP of 0.54%, suggesting a likelihood of beating the consensus EPS estimate [17].

Financial Performance - For the quarter ended June 30, 2024, total non-interest income was $23.704 million, compared to $21.015 million for the same period in 2023, reflecting an increase of 12.8%[9] - Net interest income for the quarter was $86.613 million, slightly down from $86.640 million in the previous quarter but up from $84.853 million in the same quarter last year, indicating a year-over-year increase of 3.1%[9] - Pre-provision net revenue for the quarter was $42.340 million, compared to $37.076 million in the same quarter last year, marking a year-over-year increase of 14.1%[10] - Adjusted revenue for the six months ended June 30, 2024, was $224.564 million, up from $202.556 million for the same period in 2023, reflecting a growth of 10.8%[9] - Net income for the three months ended June 30, 2024, was $29,007,000, compared to $21,096,000 for the same period in 2023, representing an increase of 37.5%[11] - Annualized net income for the six months ended June 30, 2024, was $117,826,000, compared to $96,102,000 for the same period in 2023, representing a year-over-year increase of 22.5%[12] - The annualized net income excluding amortization of other intangible assets for the six months ended June 30, 2024, was $126,682,000, up from $103,543,000 in the same period of 2023, reflecting a growth of 22.3%[12] Operational Efficiency - The efficiency ratio for the quarter was 59.19%, an improvement from 62.75% in the same quarter of the previous year, demonstrating enhanced operational efficiency[9] - Total non-interest expense for the quarter was $68.758 million, compared to $70.623 million in the same quarter last year, showing a decrease of 2.4%[9] Asset Management - Total assets as of June 30, 2024, were $9.226 billion, a slight decrease from $9.271 billion at the end of the previous quarter but an increase from $8.787 billion a year ago[10] - The company reported a total average assets of $9,180,454,000 for the three months ended June 30, 2024, compared to $8,342,883,000 in the same period of 2023, indicating growth in asset base[11] Capital Position - Tangible book value per common share increased to $18.91, up from $18.39 in the previous quarter and $16.56 a year ago, reflecting a year-over-year growth of 14.2%[10] - The tangible equity to tangible assets ratio improved to 7.61% as of June 30, 2024, compared to 7.00% a year earlier, indicating stronger capital position[10] - Average tangible equity increased to $653,590,000 for the three months ended June 30, 2024, from $564,383,000 in the same period of 2023, marking a growth of 15.8%[12] Credit Quality - The company reported a provision for credit losses of $5.683 million for the quarter, down from $7.983 million in the same quarter of the previous year, indicating improved credit quality[10] Return Metrics - Return on average assets for the three months ended June 30, 2024, was 1.27%, compared to 1.01% for the same period in 2023, indicating improved asset efficiency[11] - Return on average stockholders' equity for the three months ended June 30, 2024, was 10.99%, compared to 8.89% for the same period in 2023, showing enhanced shareholder returns[12] Non-Core Adjustments - Annualized net income adjusted for non-core items for the six months ended June 30, 2024, was $119,479,000, slightly down from $119,559,000 in the same period of 2023[11] - The company incurred acquisition-related expenses of $10,709,000 in the first quarter of 2024, which impacted net income adjustments[11]

Core Viewpoint - The upcoming earnings reports for Peoples Bancorp and Farmers National Banc are anticipated to show mixed results, with particular attention on earnings per share (EPS) estimates and revenue performance. Company Summary - Peoples Bancorp is expected to report quarterly earnings of $0.84 per share, slightly missing the Zacks Consensus Estimate of $0.85 per share, representing a year-over-year increase from $0.83 per share [3] - The company reported revenues of $109.69 million for the quarter ended June 2024, which is a 3.5% increase from $106.31 million a year ago but missed the Zacks Consensus Estimate by 1.45% [4] - Over the last four quarters, Peoples Bancorp has surpassed consensus EPS estimates three times and topped consensus revenue estimates twice [4] - The stock has underperformed the market, losing about 1.2% since the beginning of the year compared to the S&P 500's gain of 16.7% [5] Industry Summary - The Banks - Midwest industry, to which Peoples Bancorp belongs, is currently in the top 40% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - The performance of stocks in this industry is significantly influenced by the overall industry outlook and earnings estimate revisions [8][7]