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Dec 31, 2019
Peoples Bancorp Q4 2019 Earnings Report
Peoples Bancorp's fourth quarter earnings were announced and full year net income for 2019 was reported.
Key Takeaways
Peoples Bancorp Inc. reported a net income of $14.9 million for Q4 2019, with earnings per diluted common share at $0.72. The results were positively influenced by growth in non-interest income, particularly from electronic banking, trust and investment, and mortgage banking, despite challenges from the interest rate environment and loan payoffs.
Net income for the fourth quarter of 2019 totaled $14.9 million, with earnings per diluted common share of $0.72.
Non-interest income, excluding net gains and losses, increased by 6% compared to the linked quarter.
The company completed the acquisition of First Prestonsburg Bancshares Inc. during 2019.
The efficiency ratio improved, and the company experienced solid non-interest income growth, supplemented by the First Prestonsburg acquisition.
Peoples Bancorp
Peoples Bancorp
Forward Guidance
In 2020, Peoples Bancorp Inc. will continue to prioritize clients' needs and make prudent investments into the business.