Peoples Bancorp Q3 EPS $1.04 Adj.; Citizens Merger Closing Oct.
Peoples Bancorp Inc. announced its third quarter 2026 results, reporting diluted earnings per share of $0.91, or $1.04 when adjusted for one-time items, surpassing analyst expectations. The company highlighted a 1% increase in net interest income to $93.842 million and an 8 basis point expansion in net interest margin. Fee-based income also saw a 5% rise. The company also provided updates on its strategic initiatives, including the expected closing of the Citizens merger by the end of October 2026 and the pending acquisition of Capital Bancorp, slated for closing in 2027. The provision for credit losses decreased by 24%, and the efficiency ratio improved when adjusted for acquisition-related expenses.
Key Highlights
- Peoples Bancorp Inc. reported diluted EPS of $0.91, or $1.04 adjusted for one-time items, exceeding analyst estimates.
- Third quarter net interest income increased 1% to $93.842 million; net interest margin improved 8 basis points.
- Fee-based income grew 5% to $25.645 million, driven by higher lease income and service charges.
- Provision for credit losses declined 24% to $3.6 million; allowance for credit losses to total loans was 1.11%.
- Efficiency ratio was 58.50%, adjusted for one-time items it was 57.3%.
- Announced pending acquisition of Capital Bancorp, expected to close in 2027.
- Citizens merger expected to close by end of October 2026.
- Tangible book value per common share was $23.35 as of September 30, 2026.
Price Impact
More from PEBO