Peoples Bancorp announces $28M Q2 2026 net income

• Peoples Bancorp reported second-quarter 2026 net income of $28 million, equating to $0.78 per diluted share.
• The financial institution experienced a net interest margin expansion to 4.23%, driven by lower overall deposit costs.
• The company continued advancing its pending $76.6 million acquisition of Citizens Bank amid a balance sheet restructure.

Peoples Bancorp (NASDAQ:PEBO) released its financial results for the second quarter of 2026, reporting a net income of $28 million, or $0.78 per diluted share.

This figure marks a slight decrease from the $29 million, or $0.81 per share, recorded in the prior quarter, but an increase from the $21.2 million, or $0.59 per share, reported in the same period last year.

The company stated that non-core items negatively impacted its earnings per share by $0.18 during the quarter.

Despite this, the bank's net interest income rose to $92.7 million, while the net interest margin expanded to a healthy 4.23%, largely aided by lower deposit costs.

Following the earnings release, Peoples Bancorp's share price was trading around $39.39.

The provision for credit losses declined sequentially to $4.7 million, with net charge-offs totaling $5.2 million.

Peoples Bancorp also executed a balance sheet restructuring, which involved selling $135.2 million of available-for-sale securities.

This strategic move resulted in an $8.6 million net loss on securities and other items.

Overall loan balances grew by $51.4 million, representing a 3% annualized increase, and the tangible book value per share rose to $23.56.

Furthermore, the bank confirmed it is continuing its work to finalize the pending $76.6 million acquisition of Citizens.