Peoples Ltd. Announces Third Quarter Results

Core Insights - Peoples Ltd. reported a net income of $3,012,000 or $1.74 per share for Q3 2025, marking a 62.54% increase from Q3 2024's net income of $1,853,000 [1] - Year-to-date net income reached $7,314,000 or $4.23 per share, a 38.28% increase from $5,289,000 or $3.06 per share for the same period in 2024 [2] - The bank's total assets increased by 8.15% to $629,405,000, with deposits rising by 7.61% to $549,507,000 and loans increasing by 9.05% to $413,732,000 as of September 30, 2025 [3] Financial Performance - Net income excluding life insurance proceeds for Q3 2025 was $2,459,000 or $1.42 per share, reflecting a 32.70% increase from the previous year [1] - Year-to-date net income excluding life insurance proceeds was $6,761,000 or $3.91 per share, a 27.83% increase from the same period in 2024 [2] - Return on assets improved to 1.63% and return on average equity rose to 16.79% as of September 30, 2025, compared to 1.31% and 14.14% respectively in 2024 [3] Operational Highlights - The bank experienced strong results driven by improved net interest income from loan growth and asset repricing, which offset increases in salaries and operating expenses [4] - The Keyser Village Office in Scranton has exceeded initial performance projections, contributing positively to the bank's market presence [4] - The company remains focused on providing superior banking services to shareholders, customers, and communities [4]