Peoples Bancorp Inc. · NASDAQ:PEBO
Peoples Bancorp — Q1 2026 Earnings Presentation
40 slides from Peoples Bancorp's earnings presentation, May 4, 2026
Slide 1: Investor Presentation 1st Quarter
INVESTOR PRESENTATION 1st QUARTER
Slide 2: Safe Harbor Statement
2 SAFE HARBOR STATEMENT Statements in this presentation which are not historical are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform
Slide 3: Peoples Bank Geographic Profile and PEBO Snapshot
WV VAKY OH MD DC NASDAQ: PEBO PEOPLES BANK GEOGRAPHIC PROFILE 3WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO PEBO SNAPSHOT AS OF MARCH 31, 2026 ASSETS $9.6 BILLION ASSETS UNDER ADMIN & MGMT $4.0 BILLION LOANS $6.8 BILLION DEPOSITS $7.6 BILLION FULL-SERVICE BRANCH LOCATIONS 127 MARKET CAP $1.2 B
Slide 4: Corporate Culture
4 CORPORATE CULTURE NASDAQ: PEBO Our vision is to be the BEST COMMUNITY BANK IN AMERICA for our employees, clients, shareholders, and local communities. Our actions are guided by our core values represented by the PEBO Promise Circle, which embodies how we do business and our never ending pursuit of
Slide 5: Strategic Road Map
NASDAQ: PEBO STRATEGIC ROAD MAP 5WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO • Everyone is a Risk Manager • Know the Risks: Strategic, Reputation, Credit, Market, Liquidity, Operational, Compliance • Disciplined Credit Culture • Do Things Right the First Time • Raise Your Hand • Discover the
Slide 6: Investment Rationale
NASDAQ: PEBO 6 INVESTMENT RATIONALE • Top 10 bank-owned insurance agency with expertise in commercial, personal, life & health • Wealth management – $4.0 billion in assets under administration and management, including brokerage, trust and retirement planning as of March 31, 2026 STRONG, DIVERSE SOU
Slide 7: Investment Rationale: Disciplined Execution and Dividends
NASDAQ: PEBO 7WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO INVESTMENT RATIONALE • Generate positive operating leverage • Integrated enterprise risk management process • Focused on business line performance and contribution, operating efficiency and credit quality • Disciplined credit practice
Slide 8: Investment Rationale: Credit, Capital, Deposits, Liquidity
8 NASDAQ: PEBO INVESTMENT RATIONALE CREDIT • Non-performing assets (NPAs) of 0.41% as a percentage of total assets • 98.9% of loan portfolio “current” • Total outstanding balance of commercial office space was $175 million or 2.6% of total loans • 0.40% annualized net charge-offs to average loans •
Slide 9: Stock Performance
NASDAQ: PEBO 9WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO 11% 17% 15% 5% 15% 12% -4% 18% 18% -10% -5% 0% 5% 10% 15% 20% YTD* 1-Year 3-Year Total Returns as of March 31, 2026 * PEBO Proxy Peers S&P 500 PEBO’S TOTAL ANNUAL RETURN HAS BEEN GREATER THAN ITS PROXY PEERS FOR YTD, 1-YEAR AND 3-YEAR
Slide 10: External Recognition & Community Involvement
10 NASDAQ: PEBO EXTERNAL RECOGNITION & COMMUNITY INVOLVEMENT FIVE YEARS IN A ROW FIVE YEARS IN A ROW TWO YEARS IN A ROW 4,000+ HOURS IN COMMUNITY REINVESTMENT ACT VOLUNTEER ACTIVITIES COMPLETED IN 2025 $900,000+ RAISED IN ASSOCIATE DONATIONS TO LOCAL FOOD BANKS & PANTRIES SINCE APRIL 2020 $8.5 MILLI
Slide 11: External Recognition & Community Involvement
NASDAQ: PEBO 11 NASDAQ: PEBO WORKING TOGETHER. BUILDING SUCCESS. ® EXTERNAL RECOGNITION & COMMUNITY INVOLVEMENT
Slide 12: Preparing to Cross $10 Billion
PREPARING TO CROSS $10 BILLION 12 NASDAQ: PEBO 2016-2022 Core system conversion 2016 Revamped online & mobile banking experience 2022 Internal Readiness Assessment for crossing $10 billion completed 2022 Deployed Robotic Process Automation in some business processes 2022-2023 2023 Implemented new de
Slide 13: Competitive Products, Technology and Capabilities
NASDAQ: PEBO 13WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO COMPETITIVE PRODUCTS, TECHNOLOGY AND CAPABILITIES CREDIT CARD SOLUTIONS Purchasing card, virtual card, credit cards for consumers and small business COMMERCIAL CAPABILITIES Remote deposit capture, sweep accounts, escrow management and
Slide 14: Peer Group Net Interest Margin
14 NASDAQ: PEBO 4.16% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% P R K T H FF H B N C S R C E P E B O G A B C S T B A FF B C FC F A U B C H C O C C N E N W B I C T B I N B T B W S B C FI S I T O W N S Y B T L K FN T M P C B U FR M E FM N B E G B N PEER GROUP-NET INTEREST MARGINUNIV. $1-$10 B Average:
Slide 15: Tangible Book Value per Share Growth
NASDAQ: PEBO 15WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO $16.23 $18.16 $19.94 $22.77 $22.95 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 Q4-22 Q4-23 Q4-24 Q4-25 Q1-26 PEBO Tangible Book Value per Share RETURN ON AVERAGE ASSETS PEER GROUP - NET INTEREST MARGIN TANGIBLE BOOK VALUE PER SHARE PEOPLE
Slide 16: Peer Group Total Deposit Cost
16 NASDAQ: PEBO 1.68% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% E G B N L K FN FR M E FI S I C C N E C T B I A U B S R C E FF B C S Y B T S T B A W S B C FC F FM N B P E B O T O W N T M P G A B C H B N C N W B I T H FF N B T B C H C O C B U P R K PEER GROUP - TOTAL DEPOSIT COST (%) COST OF DEP
Slide 17: Peer Group Loan-to-Deposit Ratio
NASDAQ: PEBO 17WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO 88.79% UNIV. $1-$10 B Average: 88.41% 0% 20% 40% 60% 80% 100% 120% S T B A P R K S R C E N W B I T M P FC F H B N C C C N E A U B C T B I S Y B T FR M E L K FN FI S I T H FF P E B O W S B C N B T B C H C O G A B C FF B C T O W N E G B
Slide 18: Peer Group Loan Yield
18 NASDAQ: PEBO 4.58% 4.73% 5.65% 6.06% 6.17% 4.48% 5.13% 6.73% 7.23% 6.75% 4.20% 4.48% 5.69% 6.09% 6.16% 3.50% 4.50% 5.50% 6.50% 7.50% FY2021 FY2022 FY2023 FY2024 FY2025 Avg. $1-$10 Billion Universe PEBO Peer Average LOAN YIELD PEBO IS ABOVE THE AVERAGE OF THE PEER GROUP IN TERMS OF LOAN YIELD PEER
Slide 19: Credit Risk Management Process
NASDAQ: PEBO 19WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO *Also referred to throughout this document as “Total Loans” and “Loans Held for Investment." CREDIT RISK MANAGEMENT PROCESS POLICY / UNDERWRITING STANDARDS • Robust concentration management process focused on portfolio risk diversific
Slide 20: Asset Quality
20 NASDAQ: PEBO 29.11% 28.50% 26.66% 26.02% 28.24% 21.92% 16.40% 13.34% 13.60% 13.89% 16.69% 13.88% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% FY-21 FY-22 FY-23 FY-24 FY-25 YTD-26 CRITICIZED AND CLASSIFIED LOANS CRITICIZED LOANS / TIER 1 CAPITAL + ALLL CLASSIFIED LOANS / TIER 1 CAPITAL + ALLL * 0.00%
Slide 21: CRE Concentration Analysis
NASDAQ: PEBO 21WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO 42.33% 30.06% 0% 20% 40% 60% 80% 100% 120% E G B N FI S I S Y B T T H FF W S B C T O W N L K FN T M P G A B C C C N E $ 1- 10 B A ve ra g e A U B FR M E FC F S T B A FF B C P R K P E B O H B N C FM N B S R C E N B T B C B U N W B I C
Slide 22: Loan Composition Reflects Diversified Risk Profile
22 NASDAQ: PEBO 60% 40% SPECIALITY FINANCE PORTFOLIO LEASES PREIMUM FINANCE 44% 36% 14% 6% CONSUMER LOAN PORTFOLIO RESIDENTIAL REAL ESTATE COSUMER, INDIRECT HOME EQUITY LINE OF CREDIT CONSUMER, DIRECT 55%39% 6% COMMERICAL LOAN PORTFOLIO COMMERICAL REAL ESTATE COMMERCIAL & INDUSTRIAL CONSTRUCTION 63%
Slide 23: Loan Portfolio Segments and Geographic Dispersion
NASDAQ: PEBO 23WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO 22% 12% 9% 9% 8% 7% 33% NORTH STAR LEASING BY SEGMENT Restaurant Titled - Vocational Titled - Trucking/Trailer/Fleet Brewery/Distillery Heavy Equipment Manufacturing - Production Other 51% 19% 9% 6% 3% 1% 1% 10% GEOGRAPHIC DISPERSION
Slide 24: Q1 2026 Highlights & Key Impacts
24 NASDAQ: PEBO Q1 2026 HIGHLIGHTS & KEY IMPACTS LOAN TO DEPOSIT RATIO 88.5% NET INCOME $29 MILLION OR $0.81 PER DILUTED COMMON SHARE NET CHARGE-OFFS 0.40% OF AVERAGE TOTAL LOANS EFFICIENCY RATIO 58.6% RETURN ON AVERAGE ASSETS 1.23% NET INTEREST MARGIN 4.16% Q1 2026
Slide 25: Returns, Efficiency Ratio and Core Non-Interest Expense
NASDAQ: PEBO 25WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO 16.9% 23.3% 25.6% 18.9% 15.0% 14.9% 0.0% 10.0% 20.0% 30.0% FY-21 FY-22 FY-23 FY-24 FY-25 Q1-26 RETURN ON AVERAGE TANGIBLE STOCKHOLDERS EQUITY ADJUSTED FOR NON-CORE ITEMS 1.2% 1.5% 1.6% 1.3% 1.1% 1.2% 0.0% 0.5% 1.0% 1.5% 2.0% FY-21 FY-
Slide 26: Total Revenue and Sources of Fee Based Income
$172,553 $253,442 $339,374 $348,701 $355,230 $90,420 $69,254 $79,513 $93,950 $103,092 $104,078 $28,254 $0 $100,000 $200,000 $300,000 $400,000 $500,000 FY-21 FY-22 FY-23 FY-24 FY-25 Q1-26 RECORD TOTAL REVENUE IN 2025 NET INTEREST INCOME NON-INTEREST INCOME, EXCLUDING GAINS AND LOSSES 26 TOTAL REVENUE
Slide 27: Non-Interest Revenue Composition
45% 41% 14% Chart Title BROKERAGE FIDUCIARY EMPLOYEE BENEFITS 55% 22% 11% 12% TOTAL INSURANCE REVENUE YTD 2026 $5.6 MILLION PROPERTY & CASUALTY COMMERICAL LINES PERFORMANCE BASED PROPERTY & CASUALTY PERSONAL LINES LIFE & HEALTH 21% 20% 20% 16% 15% 8% NON-INTEREST INCOME YTD 2026 $28 MILLION ELECTRON
Slide 28: Total Loan Growth
28 TOTAL LOAN GROWTH TOTAL LOANS* WERE $6.8 BILLION AS OF MARCH 31, 2026 *Also referred to throughout this document as “total loans and leases” and “loans held for investment.” NASDAQ: PEBO $- $3,500 $7,000 FY-21 FY-22 FY-23 FY-24 FY-25 Q1-26 ($ M IL L IO N S ) TOTAL LOANS* AS OF MARCH 31, 2026 LIME
Slide 29: Deposit Growth
35% OF DEPOSIT BALANCES AS OF MARCH 31, 2026 WERE DEMAND DEPOSIT ACCOUNTS (DDAS), INCLUDING $1.6 BILLION OF NON-INTEREST BEARING DDAS *DDAs stands for demand deposit accounts and represents interest-bearing and non-interest bearing transaction accounts. DEPOSIT GROWTH NASDAQ: PEBO 29WORKING TOGETHER
Slide 30: Acquisition of Citizens National Corporation
ANNOUNCED APRIL 21, 2026 • Citizens, through its community bank subsidiary and 132 associates, operates 12 branches in eight counties in Kentucky. As of March 31, 2026, Citizens had $686 million in total assets, which included $342 million in total loans and $586 million in total deposits. • Expecte
Slide 31: Acquisition of Citizens National Corporation
NASDAQ: PEBO 31WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO ACQUISITION OF CITIZENS NATIONAL CORPORATION 1 "MRQ" refers to the most recent fiscal quarter. Note: MRQ cost of deposits and loan-to-deposit ratio shown at or for the quarter ended March 31, 2026. MAINTAINS FLEXIBILITY • Exceptional
Slide 32: Financial Expectations 2026
32 FINANCIAL EXPECTATIONS NASDAQ: PEBO 2026 2026 LOAN GROWTH EXPECTED BETWEEN 3% AND 5% FOR THE FULL YEAR OF 2026, COMPARED TO 2025 FEE-BASED INCOME ANTICIPATED TO BE BETWEEN $28 AND $30 MILLION QUARTERLY IN 2026 CREDIT COSTS ANTICIPATE A SLIGHT REDUCTION IN OUR NET CHARGE-OFFS FOR 2026, COMPARED TO
Slide 33: Q1 2026 Appendix
NASDAQ: PEBO 33WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO Q1 2026 APPENDIX
Slide 34: Non-US GAAP Measures: Core Non-Interest Income and Expense
NASDAQ: PEBO APPENDIX NON-US GAAP MEASURES 34 CORE NON-INTEREST INCOME CORE NON-INTEREST EXPENSE ($ in Thousands) FY-21 FY-22 FY-23 FY-24 FY-25 YTD-26 Total non-interest income $ 68,885 $ 78,836 $ 87,413 $ 99,366 $ 104,078 $ 28,254 Less: net gain (loss) on investment securities (862) (61) (3,700) (4
Slide 35: Non-US GAAP Measures: Efficiency Ratio
APPENDIX NON-US GAAP MEASURES NASDAQ: PEBO 35 EFFICIENCY RATIO AND ADJUSTED FOR NON-CORE ITEMS ($ in Thousands) FY-21 FY-22 FY-23 FY-24 FY-25 YTD-26 Total non-interest expense $ 183,737 $ 207,147 $ 266,847 $ 273,816 $ 282,337 $ 71,635 Less: amortization on other intangible assets 4,775 7,763 11,222
Slide 36: Non-US GAAP Measures: Return on Tangible Equity
NASDAQ: PEBO APPENDIX NON-US GAAP MEASURES 36 (a) Tax effect is calculated using a 21% federal statutory tax rate for all periods represented. RETURN ON AVERAGE TANGIBLE STOCKHOLDERS’ EQUITY The return on average tangible stockholders’ equity ratio is a key financial measure used to monitor performa
Slide 37: Non-US GAAP Measures: Return on Equity Adjusted
APPENDIX NON-US GAAP MEASURES NASDAQ: PEBO 37 RETURN ON AVERAGE STOCKHOLDERS’ EQUITY ADJUSTED FOR NON-CORE ITEMS (a) Tax effect is calculated using a 21% federal statutory tax rate for all periods represented. The return on average stockholders' equity adjusted for non-core items represents a non-US
Slide 38: Non-US GAAP Measures: Return on Average Assets
NASDAQ: PEBO APPENDIX NON-US GAAP MEASURES 38 RETURN ON AVERAGE ASSETS AND ADJUSTED FOR NON-CORE ITEMS (a) Tax effect is calculated using a 21% federal statutory tax rate for all periods represented. The return on average assets adjusted for non-core items represents a non-US GAAP financial measure
Slide 39: More Than Just a Bank
MORE THAN JUST A BANK NASDAQ: PEBO 39 NATIONWIDE SPECIALTY FINANCE DIVISIONS LOCATIONS IN OHIO, WEST VIRGINIA, KENTUCKY, VIRGINIA, WASHINGTON D.C. AND MARYLAND Peoples Bancorp® is a federally registered service mark of Peoples Bancorp Inc. Peoples Bank (w/logo)® is a federally registered service mar
Slide 40: Contact
peoplesbancorp.com The three arched ribbons logo is a federally registered service mark of Peoples Bank. Working Together. Building Success.® is a federally registered service mark of Peoples Bank. TYLER WILCOX President and Chief Executive Officer 740.373.7737 Tyler.Wilcox@pebo.com KATIE BAILEY Exe