Peoples Bancorp (US:PEBO)2025-04-22 19:37Financial Performance - Net income was $243 million, resulting in $068 of diluted earnings per share[11] - Deposit balances increased by 2%, driven by higher money markets and governmental balances, while brokered CDs were reduced by $96 million[11] - Book value per share grew 2%, while tangible book value per share increased 4%, to $3190 and $2068, respectively[11] Loan Portfolio - Total loan balances grew at an annualized rate of 4% compared to December 31, 2024[15] - At March 31, 2025, 47% of loans were fixed rate, with the remaining 53% at a variable rate[15] - North Star Leasing balances comprised only 3% of the total loan portfolio at March 31, 2025[18] Asset Quality - Key asset quality metrics improved during the first quarter of 2025[21] - The annualized net charge-off rate declined to 52 basis points compared to 61 basis points for the fourth quarter of 2024[21] - Criticized loans declined $15 million compared to year-end, while classified loans were down $5 million[21] Net Interest Income and Non-Interest Income/Expense - Net interest income declined 1% compared to the linked quarter, attributable to a $14 million decline in accretion income[26] - Non-interest income, excluding gains and losses, grew 2% compared to the linked quarter[29] - Non-interest expense increased 2% compared to the linked quarter, impacted by one-time costs[33] 2025 Outlook - Loan growth is projected to be between 4% and 6% for the full year of 2025, compared to 2024[47]