The company’s performance faced a $0.18 per share drag from non-core items, primarily linked to a $135.2 million sale of available-for-sale securities. This strategic divestment was executed to manage total assets below the $10 billion threshold ahead of the $76.6 million merger with Citizens National Corporation, which was announced in April.
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Peoples Bancorp Posts $28 Million Income Amid Portfolio Restructuring
Peoples Bancorp Inc. reported second-quarter 2026 net income of $28.0 million, or $0.78 per diluted share, as the Marietta-based financial institution reconfigured its balance sheet in preparation for the pending acquisition of Kentucky-based Citizens Bank.
Despite the portfolio restructuring, core performance metrics showed resilience. The net interest margin climbed to 4.23% from 4.16% in the previous quarter, bolstered by falling deposit and funding costs. Asset quality also saw stabilization, with the provision for credit losses dropping to $4.7 million—a significant decline from the $9.7 million recorded in the first quarter of 2026. Loan growth remained steady at a 3% annualized rate, fueled largely by increases in commercial and industrial lending, including life premium finance products.
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