Peoples Bancorp Q2 net income $29.0M, up 37% YoY; efficiency ratio improves to 59.2%

PEOPLES BANCORP INC

2024-Q2 EPS reported $1.66 revenue$42,487,000

Net income $29.0M for Q2 2024 vs $21.1M in Q2 2023; annualized ROA 1.27%.
Net interest income $86.6M (+2.1% YoY); non-interest income $23.7M (+12.8% YoY).
Provision for credit losses $5.7M, down from $8.0M a year ago.
Tangible book value per share $18.91, up from $16.56 year ago; tangible equity ratio 7.61%.
Efficiency ratio improved to 59.19% from 62.75%; core non-interest expense $68.8M.

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