earnings
confidence high
sentiment positive
materiality 0.75
Peoples Bancorp Q2 EPS $0.78, net income $28.0M; dividend $0.42; pending Citizens acquisition
PEOPLES BANCORP INC
- Net income $28.0M ($0.78 diluted EPS) vs $29.0M ($0.81) linked quarter and $21.2M ($0.59) year ago.
- Net interest margin expanded to 4.23% from 4.16% linked quarter; net interest income $92.7M (+$2.3M QoQ).
- Provision for credit losses decreased to $4.7M from $9.7M linked quarter; net charge-offs $5.2M.
- Sold $135.2M of available-for-sale securities at $8.2M loss as part of balance sheet restructure ahead of Citizens merger.
- Declared quarterly dividend $0.42 per share; pending acquisition of Citizens Bank for ~$76.6M.