Slide 1: First Quarter 2026 Earnings Conference Call
First Quarter 2026 Earnings Conference Call April 21, 2026 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement Statements in this presentation which are not historical facts 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 Ref
Slide 3: Use of Non-US GAAP Financial Measures
Use of Non-US GAAP Financial Measures This presentation contains financial information and performance measures determined by methods other than those in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). Management uses these “non-US GAAP” financia
Slide 4: First Quarter 2026 Financial Highlights
First Quarter 2026 Financial Highlights • Diluted earnings per share of $0.81 exceeded consensus Net income was $29.0 million, or $0.81 of diluted earnings per analyst estimates of $0.80 share (“EPS”) • Negatively impacted by one-time annual employee-related • Net interest margin expanded 4 basis po
Slide 5: Loan Balances by Segment
Loan Balances by Segment Loan Balances and Yields Loan Balances by Segment (Dollars in billions) (As of Most Recent Quarter-End) 4% 13% 4% 24% 6.77% 6.71% 6.71% 6.54% 11% 6.47% $4.92 $5.15 $5.35 $5.46 $5.55 8% 24% 12% Residential real estate Home equity lines of credit $1.51 $1.45 $1.38 $1.30 $1.23
Slide 6: North Star Leasing
North Star Leasing North Star Leasing North Star Leasing by Segment (As of Most Recent Quarter-End) $690 $2,205 $3,027 $3,733 $7,483 22% $5,403 $1,383 $4,836 37% $4,484 $5,325 $3,819 14.49% 14.69% 14.43% 14.35% 14.24% 14.25% 13.99% 14.14% 14.13% 11% 13.80% 13.74% 6% 8% 8% 8% $162.7 $212.4 $220.9 $22
Slide 7: North Star Leasing (High Balance Accounts)
North Star Leasing (High Balance Accounts) High Balance Accounts We have significantly reduced our (Dollars in millions) exposure to high balance leases within $60.0 the North Star Leasing portfolio – The high balance portfolio declined nearly $50.0 85% compared to December 31, 2023 – At March 31, 2
Slide 8: Asset Quality
Asset Quality Asset Quality Metrics The allowance for credit losses was 3.99% 1.16% of total loans at March 31, 2026 3.79% 3.79% 3.80% – Nonperforming loans declined over 3.70% $3 million compared to the linked 3.52% 3.50% quarter, driven by reductions in loans 3.31% 90+ days past due and accruing –
Slide 9: Provision for Credit Losses and Net Charge-Offs
Provision for Credit Losses and Net Charge-Offs Provision for credit losses increased while the annualized net Net Charge-Offs charge-off rate declined compared to the linked quarter (Dollars in thousands) – Deterioration in macro-economic conditions used within our models drove the growth in provis
Slide 10: Net Interest Income
Net Interest Income Net Interest Income Accretion Income Net interest income declined (Dollars in thousands) (Dollars in thousands) $0.6 million compared to the $91,049 $90,420 linked quarter, while net interest $85,255 $3,481 margin expanded by 4 basis points $1,794 – The lower net interest income
Slide 11: Non-Interest Income
Non-Interest Income Non-Interest Income Non-interest income, excluding gains and losses, grew (Dollars in thousands) $0.4 million compared to the linked quarter $28,254 – We recorded annual performance-based insurance commissions of $27,099 $26,272 $1.2 million, which we typically receive in the fir
Slide 12: Non-Interest Expense
Non-Interest Expense Non-interest expense grew $0.3 million compared to the linked quarter Non-Interest Expense – Annual one-time employee-related expenses totaling $1.5 million contributed to the (Dollars in thousands) increase – This increase was partially offset by declines in amortization of oth
Slide 13: Deposits
Deposits Deposit Balances and Costs Deposit Balances by Segment (Dollars in billions) (As of Most Recent Quarter-End) 3% 21% 12% 11% 1.84% 1.76% 1.76% 1.68% 1.52% 15% 12% $6.21 $6.11 $6.10 $6.06 $6.06 26% Non-interest-bearing deposits Interest-bearing demand accounts $1.53 $1.53 $1.54 $1.55 $1.59 Re
Slide 14: Capital
Capital Capital Metrics 13.75% 13.79% 13.78% 13.98% 13.71% 12.73% 12.89% 12.54% 12.39% 12.54% 12.29% 12.45% 12.10% 11.95% 12.11% 9.91% 10.14% 9.80% 9.83% 9.74% 8.79% 8.91% 8.34% 8.53% 8.26% 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 Total risk-based capital ratio Tier 1 risk-based capital ra
Slide 15: 2026 Outlook
2026 Outlook Our current expectations for 2026, excluding non-core expenses and the proposed merger: Operating Leverage – Expect to generate positive operating leverage for 2026, compared to 2025 Net Interest Income – We anticipate our net interest margin will be between 4.00% and 4.20% for the full
Slide 16: Proposed Merger Details
Peoples é) nn BANCORP Proposed Merger Details NATIONAL CORPORATION 15
Slide 17: Important Information for Investors and Shareholders
Important Information for Investors and Shareholders This presentation does not constitute an offer to sell or the solicitation of an offer to buy securities of Peoples. Peoples will file a registration statement on Form S-4 and other documents regarding the proposed transaction referenced in this p
Slide 18: Compelling Strategic Rationale
Compelling Strategic Rationale • Exceptional deposit franchise that addresses key strategic priorities of Peoples COMPELLING STRATEGIC • Low-cost of funding (1.27% MRQ(1) cost of deposits) and high balance sheet liquidity (58% FIT loan-to-deposit ratio) • In-market acquisition; familiarity with mark
Slide 19: Overview of Citizens National Corporation (OTCPK: CZNL)
Overview of Citizens National Corporation (OTCPK: CZNL) Franchise Highlights as of March 31, 2026 Combined Branch Footprint • Founded in 1909 as Paintsville Bank & Trust Co. PEBO* (127) CZNL (12) • Headquartered in Paintsville, KY • Operates 12 branches in eight Kentucky counties, which include John
Slide 20: Top Deposit Franchise in Kentucky
Top Deposit Franchise in Kentucky Citizens has a low loan-to-deposit ratio (58%), a high percentage of non-interest bearing deposits (30%) and a low cost of deposits (1.27% MRQ(1)) • #1 deposit market share in Johnson and Deposit Highlights Lawrence Counties CZNL (12) • Sticky relationships: 13+ yea
Slide 21: Transaction Summary
Transaction Summary Transaction Overview & Expected Financial Impact(1) Transaction Structure • Aggregate transaction value of $76.6 million(2) • Deal value per CZNL share of $78.39(3) & Consideration • Fixed exchange ratio of 2.10x PEBO shares plus $8.00 in cash for each CZNL share outstanding • De
Slide 22: Comprehensive Due Diligence
Comprehensive Due Diligence Highlights Key Diligence Focus Areas • Thorough review of all functional areas of Citizens, completed by Peoples’ seasoned due diligence team Business Overview & Credit & Asset Quality • In-depth document review Strategy • Management meetings covering each diligence focus
Slide 23: Crossing the $10 Billion Threshold
Crossing the $10 Billion Threshold Strategic Considerations How We Have Prepared • Peoples remains ready to cross the $10 billion asset threshold following years of steady, continuous preparation • We have proactively invested in the systems, infrastructure, talent and governance needed to seamlessl
Slide 24: Transaction Highlights
Transaction Highlights ATTRACTIVE FINANCIALLY LOW RISK COMMUNITY DEPOSIT BASE COMPELLING INTEGRATION IMPACT Acquisition of a best-in- Attractively priced Low-risk transaction given Combines two cultures class, in-market deposit transaction that balances shared vision, credit with strong commitment t