--- title: "Peoples Bancorp | 8-K: FY2026 Q2 Revenue: USD 121.73 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/293324823.md" datetime: "2026-07-21T10:19:18.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293324823.md) - [en](https://longbridge.com/en/news/293324823.md) - [zh-HK](https://longbridge.com/zh-HK/news/293324823.md) --- # Peoples Bancorp | 8-K: FY2026 Q2 Revenue: USD 121.73 M Revenue: As of FY2026 Q2, the actual value is USD 121.73 M. EPS: As of FY2026 Q2, the actual value is USD 0.78, missing the estimate of USD 0.8457. EBIT: As of FY2026 Q2, the actual value is USD 35.64 M. #### Dividend Information Peoples Bancorp Inc. declared a quarterly cash dividend of $0.42 per common share on July 20, 2026, payable on August 17, 2026, to shareholders of record on August 3, 2026. This dividend represents a payout of approximately $15.1 million, or 54.0% of Peoples Bancorp Inc.’s reported second quarter 2026 earnings. Based on the closing stock price of $39.39 on July 17, 2026, the quarterly dividend produces an annualized yield of 4.27%. #### Total Assets As of June 30, 2026, Peoples Bancorp Inc. had $9.5 billion in total assets. #### Operational Footprint Peoples Bancorp Inc. operates 144 locations, including 127 full-service bank branches across Ohio, West Virginia, Kentucky, Virginia, Washington D.C., and Maryland. #### Operational Metrics - **Net Income**: Peoples Bancorp Inc. reported net income of $28.0 million for the second quarter of 2026, a decrease from $29.0 million in the first quarter of 2026, but an increase from $21.2 million in the second quarter of 2025. For the first six months of 2026, net income totaled $56.959 million, up from $45.548 million for the same period in 2025. Non-core items negatively impacted earnings per diluted common share by - $0.18 for the second quarter of 2026, - $0.01 for the first quarter of 2026, and - $0.01 for the second quarter of 2025. - **Net Interest Income**: Net interest income for the second quarter of 2026 was $92.7 million, an increase of $2.3 million compared to the first quarter of 2026, and a $5.2 million (6%) increase compared to the second quarter of 2025. For the first six months of 2026, net interest income increased $10.3 million compared to the same period of 2025, reaching $183.148 million, up from $172.832 million. Quarterly net interest income for Q2 2026 was $92,728 thousand, an improvement of $2.3 million compared to the linked quarter. Year-to-date net interest income for 2026 was $183,148 thousand, a growth of $10.3 million compared to year-to-date 2025. - **Net Interest Margin**: Net interest margin for the second quarter of 2026 increased to 4.23% from 4.16% in the linked quarter, an 8 basis point increase compared to 4.15% in the second quarter of 2025. For the first six months of 2026, the net interest margin increased 6 basis points to 4.20% compared to 4.14% for the same period of 2025. The net interest margin for Q2 2026 was 4.23%. Year-to-date net interest margin for 2026 expanded by 6 basis points. - **Provision for Credit Losses**: The provision for credit losses was $4.7 million for the second quarter of 2026, a decrease of $5.0 million from $9.7 million in the first quarter of 2026, and significantly lower than $16.6 million in the second quarter of 2025. For the first six months of 2026, the provision for credit losses was $14.4 million, compared to $26.8 million for the same period of 2025. The provision for credit losses negatively impacted earnings per diluted common share by - $0.10 for the second quarter of 2026, - $0.21 for the first quarter of 2026, and - $0.36 for the second quarter of 2025. For the first half of 2026 and 2025, the impact was - $0.31 and - $0.59, respectively. The provision for credit losses declined by 51%. - **Net Gains and Losses**: Net loss for the second quarter of 2026 was - $8.6 million, primarily driven by the sale of $135.2 million of available-for-sale securities at a net loss of - $8.2 million due to a portfolio restructure. This compares to a net loss of - $0.4 million for the first quarter of 2026 and - $0.3 million for the second quarter of 2025. The net loss for the first six months of 2026 was - $9.0 million, compared to - $0.6 million in the first six months of 2025. Losses on investment securities sales were - $8.2 million related to the sale of $135 million of investment securities. - **Total Non-interest Income (Excluding Net Gains and Losses)**: Total non-interest income, excluding net gains and losses, increased $0.3 million (1%) for the second quarter of 2026 compared to the linked quarter, driven by increases in electronic banking income ($0.6 million), lease income ($0.4 million), trust and investment income ($0.4 million), and mortgage banking income ($0.2 million), partially offset by a - $1.2 million decrease in insurance income. Compared to the second quarter of 2025, it increased by $1.8 million. For the first six months of 2026, this metric increased $3.0 million (6%) compared to the same period of 2025. Non-interest income, excluding gains and losses, for Q2 2026 was $29,005 thousand, an increase of $0.3 million compared to the linked quarter. Year-to-date non-interest income, excluding gains and losses, increased 6% to $57,669 thousand. - **Total Non-interest Expense**: Total non-interest expense increased $1.1 million for the second quarter of 2026 compared to the first quarter of 2026, primarily due to increases in professional fees ($1.3 million) and data processing and software expense ($0.3 million), partially offset by a decrease in net occupancy and equipment expense (- $0.5 million). Compared to the second quarter of 2025, total non-interest expense increased $2.4 million. For the first six months of 2026, total non-interest expense increased $3.2 million compared to the same period of 2025. Total non-interest expense for Q2 2026 was $72.759 million, Q1 2026 was $71.635 million, and Q2 2025 was $70.362 million. Quarterly non-interest expense for Q2 2026 was $72,759 thousand, an increase of 2% compared to the linked quarter. Year-to-date non-interest expense for 2026 was $144,394 thousand, an increase of 2%. - **Efficiency Ratio**: The efficiency ratio for the second quarter of 2026 was 58.3%, an improvement from 58.6% for the linked quarter and 59.3% for the second quarter of 2025. The efficiency ratio for the first six months of 2026 was 58.4%, compared to 60.0% for the same period of 2025. The efficiency ratio adjusted for non-core items was 57.9% for the second quarter of 2026. The efficiency ratio for Q2 2026 was 58.3%, an improvement compared to the linked quarter. - **Income Tax Expense**: Income tax expense was $7.7 million for the second quarter of 2026, with an effective tax rate of 21.6%. This is lower than $8.3 million (22.3% effective rate) in the first quarter of 2026, but higher than $6.2 million (22.7% effective rate) in the second quarter of 2025. For the first six months of 2026 and 2025, income tax expense was $16.0 million and $13.3 million, respectively, with effective tax rates of 22.0% and 22.6%. #### Loan and Deposit Balances - **Total Loans and Leases**: Period-end total loan and lease balances at June 30, 2026, increased $51.4 million (3% annualized) compared to March 31, 2026. This increase was primarily driven by increases in commercial and industrial loans ($43.0 million), commercial premium finance loans ($37.1 million), and construction loans ($24.8 million), partially offset by decreases in other commercial real estate loans (- $57.7 million) and leases (- $10.6 million). Total loans and leases increased by $64.7 million (2% annualized) when compared to December 31, 2025, and increased $220.0 million (3%) compared to June 30, 2025. Total loan balances grew $51 million compared to March 31, 2026. The loan composition at June 30, 2026, was 42% fixed rate and 58% variable rate, with a quarterly loan yield of 6.42%. Originated loans and leases were $5.68 billion, and acquired loans and leases were $1.14 billion at June 30, 2026. - **Deposits**: Period-end core deposits decreased - $155.1 million at June 30, 2026, compared to March 31, 2026, mainly due to decreases in retail certificates of deposit (- $92.4 million) and governmental deposits (- $87.1 million), partially offset by an increase in money market deposit accounts ($37.1 million). Compared to December 31, 2025, period-end core deposit balances increased $36.6 million. Compared to June 30, 2025, period-end core deposit balances increased $36.3 million. Total demand deposit accounts comprised 36% of total deposits at June 30, 2026, up from 35% at March 31, 2026, and 34% at June 30, 2025. Total deposits decreased by - $155 million, excluding brokered CDs, in Q2 2026. Governmental deposits experienced a seasonal decline of - $87 million, while money market accounts increased by $37 million and non-interest bearing deposits increased by $7 million. Retail certificates of deposit declined by - $92 million. #### Asset Quality - **Nonperforming Assets (NPAs)**: Total nonperforming assets at June 30, 2026, increased $1.4 million (4%) compared to March 31, 2026, but decreased - $5.6 million (12%) compared to June 30, 2025. NPAs as a percent of total loans and OREO was 0.60% at June 30, 2026, compared to 0.59% at March 31, 2026, and 0.71% at June 30, 2025. Nonperforming loans increased slightly compared to the linked quarter-end. Delinquency levels showed 99.1% of the loan portfolio was “current” at June 30, 2026, compared to 98.9% at March 31, 2026. - **Criticized Loans**: Criticized loans increased $49.7 million (22%) compared to March 31, 2026, and increased $29.3 million (12%) compared to June 30, 2025. As a percent of total loans, criticized loans were 4.01% at June 30, 2026, compared to 3.31% at March 31, 2026, and 3.70% at June 30, 2025. Criticized loans grew $50 million compared to March 31, 2026. - **Classified Loans**: Classified loans decreased - $1.1 million (1%) compared to March 31, 2026, but increased $15.8 million (13%) compared to June 30, 2025. As a percent of total loans, classified loans were 2.06% at June 30, 2026, compared to 2.10% at March 31, 2026, and 1.89% at June 30, 2025. Classified loans declined - $1 million compared to March 31, 2026. - **Allowance for Credit Losses**: At June 30, 2026, the allowance for credit losses decreased - $0.3 million compared to March 31, 2026, and increased $3.4 million compared to June 30, 2025. The ratio of the allowance for credit losses as a percent of total loans was 1.14% at June 30, 2026, compared to 1.16% at March 31, 2026, and 1.13% at June 30, 2025. The ratio of allowance for credit losses as a percentage of non-performing loans was 190.78% at June 30, 2026, compared to 198.16% at March 31, 2026, and 183.89% at June 30, 2025. The allowance for credit losses was 1.14% of total loans at June 30, 2026. #### Capital Information - **Stockholders’ Equity**: Total stockholders’ equity at June 30, 2026, increased $20.5 million (2%) compared to March 31, 2026, driven by net income of $28.0 million and a decrease of - $5.2 million in accumulated other comprehensive loss, partially offset by dividends paid of - $15.1 million. Compared to December 31, 2025, total stockholders’ equity increased $29.9 million. Compared to June 30, 2025, total stockholders’ equity increased $83.2 million (7%). - **Tangible Book Value Per Common Share**: Tangible book value per common share for the second quarter of 2026 increased to $23.56 compared to $22.95 for the linked quarter. Book value per share increased to $34.41 from $33.85, an annualized growth rate of 7%. - **Capital Ratios**: At June 30, 2026, the Common Equity Tier 1 capital ratio was 12.66%, the Tier 1 risk-based capital ratio was 13.10%, the Total risk-based capital ratio was 14.19%, and the Leverage ratio was 10.33%. These figures represent increases from March 31, 2026, and June 30, 2025. Peoples’ capital conservation buffer was 6.19% at June 30, 2026, compared to a required buffer of 2.50%. All regulatory capital ratios improved during the second quarter as earnings outpaced dividends. The tangible equity to tangible assets ratio improved by 34 basis points to 9.25% at June 30, 2026, compared to March 31, 2026. #### Unique Metrics - **Accretion Income**: Accretion income, net of amortization expense, from acquisitions was $1.1 million for the second quarter of 2026, $1.3 million for the first quarter of 2026, and $2.6 million for the second quarter of 2025. This added 5 basis points, 6 basis points, and 12 basis points, respectively, to net interest margin. For the first six months of 2026, accretion income was $2.4 million, compared to $6.1 million in the first half of 2025. Accretion income for Q2 2026 was $1,169 thousand. - **North Star Leasing**: The portfolio origination yield was around 20% before accounting adjustments, with a historical average net charge-off rate (2019 and prior) between 4% and 5%. The ending balance for North Star Leasing in Q2 2026 was $114.5 million, with net charge-offs of $3,401 thousand. High balance leases totaled $7.2 million at June 30, 2026, an 87% decline compared to December 31, 2023. Small-ticket North Star Leasing balances comprised less than 2% of total loan balances at June 30, 2026. - **Net Charge-Offs**: Small-ticket leasing net charge-offs in Q2 2026 were $3,401 thousand, and all other net charge-offs were $1,784 thousand. The total annualized net charge-off rate for Q2 2026 was 0.31%, while the rate excluding North Star Leasing was 0.11%. #### Outlook / Guidance Peoples Bancorp Inc. anticipates generating positive operating leverage for 2026 compared to 2025. The net interest margin is expected to be between 4.10% and 4.30% for the full year 2026, with non-interest income (excluding gains and losses) projected to be between $28 million and $30 million for each quarter. Quarterly non-interest expense is anticipated to be between $73 million and $75 million for the remaining two quarters of 2026, and loan growth is expected to be at the low end of the 3% to 5% guided range. ### Related Stocks - [PEBO.US](https://longbridge.com/en/quote/PEBO.US.md) ## Related News & Research - [Peoples Bancorp EVP Community Banking Hugh J. 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