☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission File Number: 000-16772 PEOPLES BANCORP INC. | (Exact name of Registrant as specified in its charter) | | | | --- | --- | --- | | Ohio 3 ...

Acquisition and Mergers - Peoples reported a total consideration of $3.8 million for the acquisition of an insurance agency with five locations in eastern Kentucky[190]. - The company has recently completed the merger with Premier and acquisitions of NSL and Vantage, aiming to expand commercial and consumer lending activities[181]. - Peoples paid $82,900,000 for the Vantage acquisition during Q1 2022, impacting cash reserves[274]. - Recent acquisitions, including Vantage and Premier, have positively impacted average balances of loans and deposits[212]. Financial Performance - Peoples reported net income of $23.6 million for Q1 2022, with earnings per diluted common share of $0.84, compared to $0.98 in Q4 2021 and $0.79 in Q1 2021[194]. - Annualized net income for Q1 2022 was $95,618 thousand, compared to $110,083 thousand in Q4 2021 and $62,711 thousand in Q1 2021[267]. - For the first quarter of 2022, net income was $23,577,000, a decrease of 15.5% from $27,747,000 in the previous quarter, but an increase of 52.5% from $15,463,000 in the same quarter of 2021[271]. - The increase in PPNR compared to Q1 2021 was primarily due to the impact of recent acquisitions, which improved net interest income and non-interest income[259]. Assets and Liabilities - Total assets increased to $7.24 billion as of March 31, 2022, a 2% increase from $7.06 billion at December 31, 2021, and a 41% increase from $5.14 billion at March 31, 2021[202]. - Total liabilities were $6.43 billion at March 31, 2022, up from $6.22 billion at December 31, 2021, primarily due to seasonal growth in governmental deposits and long-term borrowings from Vantage[203]. - Total stockholders' equity was $808.3 million at March 31, 2022, a decrease of $36.7 million from December 31, 2021, but an increase of $229.2 million, or 40%, compared to March 31, 2021[204]. Credit Quality and Risks - Peoples' financial condition and results of operations are influenced by the ongoing effects of the COVID-19 pandemic, which may impact sales volumes and loan delinquencies[181]. - The company anticipates potential credit risks and higher credit losses due to loan concentrations by location or industry[183]. - The allowance for credit losses decreased to $54.8 million, or 1.20% of total loans, compared to $64.0 million and 1.43% at December 31, 2021[202]. - The company recorded a provision for credit losses of $387,000 during Q1 2022 for non-purchased credit deteriorated leases acquired from Vantage[291]. Income and Expenses - Net interest income for Q1 2022 was $54.3 million, a decrease of $0.4 million, or 1%, from the linked quarter, but an increase of $18.7 million, or 53%, compared to Q1 2021[195]. - Non-interest expense for salaries and employee benefits rose to $27,729 thousand, a 33% increase compared to $20,759 thousand in Q1 2021, primarily due to additional salaries from acquisitions[238]. - Total non-interest income, excluding net gains and losses, increased by $1.0 million compared to the linked quarter, driven by higher insurance income and increased deposit account service charges[198]. - Total interest expense increased by $289,000 compared to the linked quarter, driven by higher funding costs[216]. Regulatory and Compliance - The company is subject to regulation by the Ohio Division of Financial Institutions, the Federal Reserve Bank of Cleveland, and the FDIC[188]. - The impact of legislative or regulatory changes may impose new and more stringent requirements on Peoples' business operations[181]. - As of March 31, 2022, Peoples' Common Equity Tier 1 (CET1) ratio was 11.51%, down from 12.52% at December 31, 2021[310]. Deposits and Loans - Total deposits increased by $140.4 million, or 2%, compared to December 31, 2021, and by $1.7 billion, or 39%, compared to March 31, 2021[305]. - Total originated loans increased to $3,146.8 million as of March 31, 2022, up from $3,050.8 million at December 31, 2021, representing a growth of 3.1%[280]. - The repayment of premium finance loans is secured by the underlying insurance policy, mitigating geographic risk[287]. - As of March 31, 2022, the outstanding principal balance of PPP loans was $42.9 million, down from $349.9 million a year earlier, reflecting a decrease of approximately 87.8%[290]. Operational Efficiency - The efficiency ratio for Q1 2022 was 66.8%, up from 62.7% in the linked quarter and down from 70.4% in Q1 2021, with an adjusted efficiency ratio of 64.8%[200]. - The company’s commercial lending activities are focused on Ohio, Kentucky, West Virginia, Virginia, Washington, D.C., and Maryland[287]. - The company experienced an influx of deposits, contributing to high cash balances in recent periods, influenced by recent acquisitions and PPP proceeds[212]. Market and Economic Conditions - Peoples' reliance on third-party vendors for technology and services poses risks that could affect customer confidence and operational efficiency[183]. - The recent increase in the Federal Reserve benchmark interest rate had minimal impact during Q1 2021 due to its timing[216]. - Interest rate sensitivity analysis indicated a potential increase in net interest income of $24.21 million (10.5%) with a 300 basis point increase in interest rates as of March 31, 2022[317].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission File Number: 000-16772 PEOPLES BANCORP INC. | (Exact name of registrant as specified in its charter) | | | | --- | --- | --- | | Ohio | | 3 ...

Peoples Bancorp, Inc. (NASDAQ:PEBO) Q4 2021 Earnings Conference Call January 25, 2021 11:00 AM ET Company Participants Charles Sulerzyski - President, CEO & Director Kathryn Bailey - EVP, CFO & Treasurer Conference Call Participants Robert Siefers - Piper Sandler & Co. Timothy Switzer – KBW Bryce Rowe - Hovde Group Stephen Moss - B. Riley Securities Daniel Cardenas - Boenning and Scattergood Operator Good morning, and welcome to the Peoples Bancorp Inc. Conference Call. My name is Ailey, and I will be your ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission File Number: 000-16772 PEOPLES BANCORP INC. | (Exact name of Registrant as specified in its charter) | | | | --- | --- | --- | | O ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR For the quarterly period ended June 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission File Number: 000-16772 PEOPLES BANCORP INC. (Exact name of Registrant as specified in its charter) | Ohio | 31-0987416 | | --- | --- | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) Commission File Number: 000-16772 PEOPLES BANCORP INC. (Exact name of Registrant as specified in its charter) Ohio 31-0987416 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 138 Putnam Street, P.O. Box 738, Marietta, Ohio 45750 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (740) 373-3155 Not Applicable (Form ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission File Number: 000-16772 PEOPLES BANCORP INC. | (Exact name of registrant as specified in its charter) | | | | --- | --- | --- | | Ohio | | 3 ...

Financial Data and Key Metrics Changes - The company reported record quarterly net income with diluted EPS of $1.05 in Q4 2020, compared to $0.51 in the linked quarter and $0.72 in Q4 2019 [7] - For the full year 2020, diluted EPS was $1.73, down from $2.63 in 2019 [7] - The company achieved positive operating leverage for the full year 2020 compared to 2019, meaning revenue growth outpaced expense growth [8] - The provision for credit losses totaled $26.3 million for 2020, with a recovery of $7.3 million recognized in Q4 [9][10] Business Line Data and Key Metrics Changes - The company’s PPP loan balances declined by $94 million or 20% from September 30, 2020, with $3.7 million of interest income recognized from PPP loans in Q4 [8][9] - New deposit accounts associated with PPP clients totaled nearly $15 million, with $35 million in loans [9] - The loan portfolio saw a 2% decline from September 30, 2020, primarily due to the forgiveness of PPP loans [19] Market Data and Key Metrics Changes - The company noted improvements in economic forecasts, with a 2% improvement in U.S. unemployment and a 3% improvement in Ohio GDP compared to previous forecasts [9] - The delinquency rate improved, with 98.9% of the total loan portfolio considered current at the end of December 2020, compared to 98.6% at the end of 2019 [16] Company Strategy and Development Direction - The company aims for low single-digit loan growth in 2021, excluding PPP loans, contingent on continued economic improvement [40] - The management expressed optimism about potential acquisitions within their footprint and emphasized a commitment to maintaining capital levels while considering stock buybacks [55][36] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the significant impact of the COVID-19 pandemic on operations and expressed confidence in the resilience of their business model [6] - The company anticipates higher expenses in Q1 2021 due to seasonal factors but remains optimistic about loan growth based on early indicators [40] - Management expects to see a stabilization in charge-offs, projecting them to remain flat year-over-year in 2021, depending on economic recovery and vaccination progress [81] Other Important Information - The company repurchased $4.3 million in shares during Q4 2020, totaling nearly $30 million for the year [36] - The allowance for credit losses stood at 1.48% of total loans at December 31, 2020, a reduction from 1.67% at September 30, 2020 [37] Q&A Session Summary Question: What is the trend for PPP forgiveness? - Management indicated that approximately 31% of the PPP loans have been forgiven as of the call, with expectations for most of the first batch to be forgiven in Q1 and Q2 2021 [45] Question: What are the expectations for net charge-offs in 2021? - Management believes charge-offs may remain flat year-over-year, with a potential return to more normal levels in the 20 to 30 basis points range, depending on economic conditions [81] Question: What are the capital priorities for 2021? - The company remains committed to dividends and is optimistic about acquisitions, while expecting less buyback activity compared to 2020 [55]

Peoples Bancorp, Inc. (NASDAQ:PEBO) Q3 2020 Earnings Conference Call October 20, 2020 11:00 AM ET Company Participants Charles Sulerzyski - President, CEO & Director Kathryn Bailey - EVP, CFO & Treasurer Conference Call Participants Robert Siefers - Piper Sandler & Co. Stephen Moss - B. Riley Securities, Inc. Michael Perito - KBW Russell Gunther - D.A. Davidson & Co. Joseph Plevelich - Boenning and Scattergood Operator Good morning, and welcome to Peoples Bancorp Inc.'s conference Call. My name is Sarah, an ...