Peoples Bancorp Inc. (NASDAQ:PEBO) Q2 2020 Earnings Conference Call July 21, 2020 11:00 AM ET Â Company Participants Chuck Sulerzyski - President and CEO John Rogers - CFO and Treasurer Conference Call Participants Scott Siefers - Piper Sandler Michael Schiavone - KBW Russell Gunther - DA Davidson Steve Moss - B. Riley FBR Operator Good morning, and welcome to Peoples Bancorp, Incorporated Conference Call. My name is Mike and I will be your conference facilitator today. Today's call will cover a discussion ...

Financial Data and Key Metrics Changes - The company reported a loss of $0.04 per share for Q1 2020, significantly impacted by COVID-19 and related economic conditions [5][13] - Net charge-off rate was 7 basis points for the quarter, with total provision for credit losses amounting to $17 million, affecting diluted EPS by $0.65 [12][13] - Return on average assets was a negative 7 basis points, with a pre-tax pre-provision return on average assets of 1.5% [16] Business Line Data and Key Metrics Changes - Loan growth was 5% annualized compared to the linked quarter, primarily driven by construction, commercial, and residential real estate loans [20] - Commercial lending modifications totaled approximately $500 million, with consumer loan relief solutions also being offered [9][10] - Core deposit growth was 7% from the linked quarter, with a notable increase in non-interest-bearing deposits [35] Market Data and Key Metrics Changes - The company approved 2,432 PPP loans totaling $426 million, with expectations of continued demand once additional funding is available [7] - The company was selected by JobsOhio for a loan program aimed at aiding small businesses, providing a 90% guarantee on the first $25 million of increased exposure [8] Company Strategy and Development Direction - The company announced an acquisition of a premium finance company with approximately $100 million in assets, aimed at diversifying product offerings [4] - Management emphasized the importance of maintaining a diversified revenue stream, which includes insurance and fee-based businesses [27][47] - The company plans to continue supporting clients through loan modifications and relief programs during the pandemic [6][48] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by the pandemic but expressed confidence in the stability of their loan portfolio due to diversified exposure [17][48] - The company anticipates a net interest margin between 3.3% and 3.45% for the latter part of 2020, with total non-interest expense projected between $33 million and $34 million per quarter [49] - Future loan growth is expected to be between 0% and 2% for 2020, with potential for improvement in the latter half of the year [49] Other Important Information - The company implemented the CECL accounting standard, resulting in a significant increase in the allowance for credit losses [41][43] - The company maintained a strong capital position with a Tier 1 capital ratio of 14.1% and tangible equity to tangible assets ratio of 9.5% [38] Q&A Session Summary Question: Key assumptions for reserve calculations - Management used Moody's baseline scenario, projecting US unemployment to rise to approximately 8.66% and Ohio GDP to drop by 3% [57] Question: Aggregate number for stressed industries - Approximately $612 million of the loan portfolio is in industries considered vulnerable, with a significant portion in stable franchises like McDonald's [59][60] Question: Near-term operating expense run rate - Expected operating expenses are projected to be between $33 million and $34 million per quarter for the remainder of the year [70][73] Question: Clarification on deferrals - The $500 million in deferrals primarily pertains to commercial loans, with consumer loan deferrals totaling about $46 million [80] Question: Impact of PPP on income - The company expects to earn approximately $13 million in pre-tax income from the PPP program, primarily from origination fees [82][83] Question: Internal stress testing assumptions - Management indicated that potential aggregate loss rates are projected to be in the high single-digits under stressed scenarios [86]

Peoples Bancorp Inc. (NASDAQ:PEBO) Q4 2019 Earnings Conference Call January 21, 2020 11:00 AM ET Company Participants Chuck Sulerzyski - President & Chief Executive Officer John Rogers - Chief Financial Officer & Treasurer Conference Call Participants Michael Perito - KBW Scott Siefers - Piper Sandler Russell Gunther - D.A. Davidson. Operator Good morning, and welcome to Peoples Bancorp Inc.'s Conference Call. My name is Rocco, and I will be your conference facilitator today. Today's call will cover a discu ...

Peoples Bancorp Inc. (NASDAQ:PEBO) Q2 2019 Results Conference Call July 23, 2019 11:00 AM ET Company Participants Chuck Sulerzyski - President and Chief Executive Officer John Rogers - Chief Financial Officer and Treasurer Conference Call Participants Jeanie Dwinell - Sandler O'Neill Kevin Reevey - D.A. Davidson Michael Perito - KBW Dan Cardenas - Raymond James Operator Good morning. And welcome to Peoples Bancorp Incorporated 2019 Second Quarter Earnings Conference Call. My name is Ben, and I will be your ...

Financial Data and Key Metrics Changes - The company reported record net income of $14.4 million or $0.73 per diluted share, an increase from $13.9 million or $0.71 per diluted share in the previous quarter and $11.7 million or $0.64 per diluted share a year ago [9] - Return on average assets was 1.46% and return on average stockholder equity was 11.12% [10] - Net interest income grew by 16% compared to the first quarter of 2018, with a net interest margin expansion of three basis points to 3.80% compared to the linked quarter [10] - Total deposit growth was 6% since December 31, 2018, with a recovery of $1.8 million on a previously charged-off commercial loan positively impacting earnings [11] Business Line Data and Key Metrics Changes - Commercial and industrial loans grew by $28 million or 20% annualized compared to year-end, while consumer loans increased by $15 million or 12% annualized [24][26] - Total loans increased by $9 million compared to December 31, 2018, with organic total loans growing $19 million or 3% annualized [22] - The efficiency ratio was 62.7% for the first quarter of 2019, compared to 62% in the fourth quarter of 2018 [14] Market Data and Key Metrics Changes - The company experienced a decline in non-performing assets by $1.2 million or 6% compared to December 31, 2018, and a 5% increase compared to March 31, 2018 [15][16] - Criticized loans decreased by $24 million or 22% compared to December 31, 2018, and by $27 million or 23% compared to March 31, 2018 [17] Company Strategy and Development Direction - The company is focused on growing its core business while preparing for the First Prestonsburg acquisition, which is expected to be accretive to earnings by approximately $0.06 to $0.07 during 2019 [51][52] - The company anticipates loan growth of 5% to 7% for the full year 2019, with a strong pipeline for commercial loans [25][55] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position, noting strong credit metrics and a solid dividend policy [80][82] - The company expects to generate positive operating leverage for the full year and anticipates an effective tax rate between 19% and 19.5% for 2019 [56] Other Important Information - The company announced a quarterly dividend increase to $0.34 per share, representing a payout of 47% of first-quarter diluted earnings per share [49] - The tangible book value per common share increased to $19.00 compared to $18.30 at December 31, 2018 [48] Q&A Session Summary Question: Discussion on fee income trends - Management noted seasonal impacts on fee income, with expectations for mortgage banking to pick up in Q2 and Q3 [60][61] Question: Insights on commercial real estate lending - Management indicated a cautious approach to commercial real estate lending, focusing on prime developers [65] Question: Impact of customer behavior on deposit service charges - Management acknowledged that customers are managing deposits more intelligently, leading to a decline in overdraft fees [66][67] Question: Loan growth expectations - Management confirmed a 20% increase in the commercial loan pipeline compared to the previous year, amounting to low $50 million [70] Question: Positioning of the company moving forward - Management expressed satisfaction with the current credit portfolio and indicated a preference for maintaining a strong capital base [82][93]

Peoples Bancorp's (NASDAQ:PEBO) Q4 2018 Earnings Conference Call January 22, 2019 11:00 AM ET Company Participants Chuck Sulerzyski - President & Chief Executive Officer John Rogers - Chief Financial Officer & Treasurer Conference Call Participants Michael Perito - KBW Kevin Reevey - D.A. Davidson Daniel Cardenas - Raymond James Operator Good morning, and welcome to Peoples Bancorp Incorporated Conference Call. My name is Chad, and I will be your conference facilitator today. Today's call will cover a discu ...