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Peoples Bancorp Inc. (NASDAQ:PEBO) Q4 2024 Earnings Call Transcript

Peoples Bancorp Inc. (NASDAQ: PEBO) held its Q4 2024 earnings call, where CEO Chuck Sulerzyski and CFO Kathryn Bailey discussed the company's financial performance. They reported a net income of $28.4 million, or $0.95 per diluted share, for the quarter, which was a decrease from the previous year's $32.1 million, or $1.07 per share. This decline was attributed to higher non-interest expenses and a slight decrease in net interest income. However, the company saw growth in loans and deposits, with total loans increasing by 1.7% and deposits by 1.5% from the previous quarter. The net interest margin was stable at 3.75%. Non-interest income rose due to increased mortgage banking and wealth management revenues, but this was offset by higher expenses in areas like compensation and benefits. The call also highlighted strategic initiatives aimed at enhancing digital banking services and operational efficiency, alongside a focus on maintaining strong asset quality with non-performing assets at a low 0.26% of total assets.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/companies/peoples-bancorp-inc-nasdaq-pebo-q4-2024-earnings-call-transcript/ar-AA1xIZYj ]