secwatch.observer — SEC 8-K summary
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Issuer:     PEOPLES BANCORP INC (PEBO)
CIK:        0000318300
Form:       8-K
Filed at:   2022-10-28T23:59:59+00:00
Accession:  0000318300-22-000290
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Peoples Bancorp to acquire Limestone Bancorp in stock merger; Q3 net income $26M
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- Agreed to acquire Limestone Bancorp in all-stock merger; exchange ratio 0.90x, expected close Q2 2023.
- Termination fee of $8.3M payable by Limestone under certain conditions; support agreements from key shareholders.
- Q3 2022 net income $26.0M ($0.93 diluted EPS) vs. net loss of $5.8M in Q3 2021; net interest income $67.1M (+57% YoY).
- Efficiency ratio improved to 57.2% from 94.7% a year ago, driven by expense discipline and revenue growth.
- Tangible book value per share $15.28 at Sept 30, 2022, down from $18.98 a year earlier due to acquisition-related goodwill.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/318300/000031830022000290/0000318300-22-000290-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/318300/000031830022000290/pebo-20221028.htm
  HTML page:      https://secwatch.observer/filing/0000318300-22-000290

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