Peoples Bancorp Q2 2023 net income $21.1M, down 15% YoY; acquisition costs weigh

PEOPLES BANCORP INC

2023-Q2 EPS reported $1.56 revenue$38,438,000

Net income of $21.1M (diluted EPS $0.65 est.) vs $24.9M in Q2 2022; annualized ROA 1.01% vs 1.40%.
Net interest income $84.9M, up from $61.5M a year ago, driven by balance sheet growth and rate environment.
Acquisition-related expenses of $10.7M in Q2; core non-interest expense $60.5M, adjusted efficiency ratio 53.3%.
Tangible book value per share $16.56, down from $17.37 at March 31 due to acquisition dilution.
Total assets $8.79B, up 21% YoY; common shares outstanding increased to 35.4M from 28.3M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PEOPLES BANCORP INC reported financial results for the quarter ended June 30, 2023.

Period: the quarter ended June 30, 2023
Result: reported results

Exact text from the filing

On July 25, 2023, management of Peoples Bancorp Inc. (“Peoples”) conducted a facilitated conference call at approximately 11:00 a.m., Eastern Daylight Time, to discuss results of operations for the quarter ended June 30, 2023.

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Source: SEC EDGAR

accession 0000318300-23-000298

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