Peoples Bancorp Inc. · NASDAQ:PEBO
Peoples Bancorp — Q2 2025 Earnings Presentation
36 slides from Peoples Bancorp's earnings presentation, Jul 28, 2025
Slide 1: Investor Presentation 2nd Quarter
INVESTOR PRESENTATION I 2nd QUARTER W O R K IN G T O G E T H E R . B U IL D IN G S U C C ES S. ®
Slide 2: Table of Contents and forward-looking statements
WORKING TOGETHER BUILDING SUCCESS2 TABLE OF CONTENTS 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
Slide 3: Peoples Bank Geographic Profile and PEBO Snapshot
WV VAKY OH MD DC WORKING TOGETHER BUILDING SUCCESS NASDAQ: PEBO PEOPLES BANK GEOGRAPHIC PROFILE 3WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO PEBO SNAPSHOT AS OF JUNE 30, 2025 ASSETS $9.5 BILLION ASSETS UNDER ADMIN & MGMT $3.9 BILLION LOANS $6.6 BILLION DEPOSITS $7.6 BILLION FULL-SERVICE BRANC
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 – $3.9 billion in assets under administration and management, including brokerage, trust and retirement planning as of June 30, 2025 • Top 100 U.S. equip
Slide 7: Investment Rationale: Disciplined Execution and Dividends
NASDAQ: PEBO 7WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO INVESTMENT RATIONALE • Integrated enterprise risk management process • Focused on business line performance and contribution, operating efficiency and credit quality • Disciplined credit practice as indicated by portfolio construction
Slide 8: Investment Rationale: Credit, Capital, Deposits, Liquidity
8 NASDAQ: PEBO INVESTMENT RATIONALE CREDIT • NPAs of 0.49% as a percentage of total assets • 99.1% of loan portfolio “current” at quarter-end • Total outstanding balance of commercial office space was $182 million or 2.8% of total loans • 0.43% net charge-offs to average loans as of Q2 2025 • CRE is
Slide 9: External Recognition & Community Involvement
NASDAQ: PEBO 9WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO EXTERNAL RECOGNITION & COMMUNITY INVOLVEMENT $700,000+ AMOUNT RAISED IN ASSOCIATE DONATIONS TO LOCAL FOOD BANKS & PANTRIES SINCE APRIL 2020 $8 MILLION PEOPLES BANK FOUNDATION GRANTS AND SCHOLARSHIPS AWARDED SINCE ITS INCEPTION IN 2003
Slide 10: Preparing to Cross $10 Billion
PREPARING TO CROSS $10 BILLION 10 NASDAQ: PEBO 2016-2022 2023 2025 2024 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 Implemen
Slide 11: Competitive Products, Technology and Capabilities
NASDAQ: PEBO 11WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO COMPETITIVE PRODUCTS, TECHNOLOGY AND CAPABILITIES CREDIT CARD SOLUTIONS Purchasing card, ghost card, virtual card, credit cards for consumers and small business COMMERCIAL CAPABILITIES Remote deposit capture, sweep accounts, escrow ma
Slide 12: Peer Group - Net Interest Margin
12 NASDAQ: PEBO 4.10% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% P R K T H FF P E B O G A B C S R C E FF B C N W B I C H C O S T B A FC F C T B I S Y B T A U B N B T B L K FN C C N E FI S I W S B C FR M E C B U T O W N H B N C T M P FM N B E G B N NEAR BEST IN CLASS NET INTEREST MARGIN LARGELY DUE TO STRON
Slide 13: Return on Average Assets Peer Comparison
NASDAQ: PEBO 13WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO 1.19% 1.10% 0.94% 0.85% 0.91% 0.84% 1.43% 1.37% 1.28% 1.06% 1.19% 1.47% 1.61% 1.32% 1.09% 1.41% 1.30% 1.12% 0.96% 1.10% 0.75% 1.25% 1.75% FY2021 FY2022 FY2023 FY2024 Q1 2025 Avg. $1-$10 Billion Universe PEBO PEBO Adjusted Peer Average
Slide 14: Peer Group - Cost of Deposits
14 NASDAQ: PEBO 1.84% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% E G B N L K FN FI S I C C N E A U B FR M E FF B C C T B I S R C E S Y B T FC F S T B A T O W N W S B C P E B O FM N B H B N C G A B C T M P N W B I T H FF N B T B C H C O P R K C B U COST OF DEPOSITS Source: S&P Global Market Inte
Slide 15: Peer Group - Loan-to-Deposit Ratio
NASDAQ: PEBO 15WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO 83% 0% 20% 40% 60% 80% 100% 120% S T B A P R K FC F S R C E N W B I S Y B T C T B I FR M E A U B T M P W S B C L K FN E G B N N B T B H B N C FI S I C C N E P E B O T H FF FF B C C H C O T O W N G A B C C B U FM N B LOAN-TO-DEPOSIT RA
Slide 16: Peer Group - Loan Yield
16 NASDAQ: PEBO 4.58% 4.73% 5.65% 6.06% 6.11% 4.48% 5.13% 6.73% 7.23% 6.75% 4.20% 4.48% 5.69% 6.09% 6.00% 3.50% 4.50% 5.50% 6.50% 7.50% FY2021 FY2022 FY2023 FY2024 Q1 2025 Avg. $1-$10 Billion Universe PEBO Peer Average LOAN YIELD PEBO IS ABOVE THE AVERAGE OF THE PEER GROUP IN TERMS OF LOAN YIELD PEE
Slide 17: Credit Risk Management Process
NASDAQ: PEBO 17WORKING 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 diversifica
Slide 18: Asset Quality
18 NASDAQ: PEBO 29.11% 28.50% 26.66% 26.02% 25.38% 16.40% 13.34% 13.60% 14.16% 12.98% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% FY-21 FY-22 FY-23 FY-24 YTD-25 CRITICIZED AND CLASSIFIED LOANS CRITICIZED LOANS / TIER 1 CAPITAL + ALLL CLASSIFIED LOANS / TIER 1 CAPITAL + ALLL * 0.00% 0.20% 0.40% 0.60% 0
Slide 19: CRE Concentration Analysis
NASDAQ: PEBO 19WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO 257% 175% 0% 50% 100% 150% 200% 250% 300% 350% 400% E G B N T M P W S B C FI S I A U B S T B A S Y B T $ 1- 10 B A ve ra g e T H FF T O W N C C N E L K FN FC F G A B C FF B C H B N C FM N B C H C O N B T B P E B O C B U C T B I FR M E
Slide 20: Loan Composition Reflects Diversified Risk Profile
20 NASDAQ: PEBO 56%35% 9% COMMERICAL LOAN PORTFOLIO COMMERICAL REAL ESTATE COMMERCIAL & INDUSTRIAL CONSTRUCTION Data as of June 30, 2025. LOAN COMPOSITION REFLECTS DIVERSIFIED RISK PROFILE LOAN COMPOSITION TOTAL LOAN PORTFOLIO = $6.6 BILLION COMMERCIAL CONSUMER SPECIALTY FINANCE 1 2 3 CONSUMER LOAN
Slide 21: Loan Composition: C&I and CRE Portfolios
NASDAQ: PEBO 21WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO 28% 14% 4% 4%4%3% 3% 3% 2% 2% 33% TOTAL C&I PORTFOLIO= $1.4 BILLION FOOD SERVICES RETAIL TRADE REAL ESTATE CONTRACTORS MERCHANT WHOLESALERS WOOD PRODUCT MANUFACTURING AMBULATORY HEALTH CARE SERVICES PROFESSIONAL, SCIENTIFIC, AND TECHN
Slide 22: Q2 2025 Highlights & Key Impacts
22 NASDAQ: PEBO Q2 2025 HIGHLIGHTS & KEY IMPACTS LOAN TO DEPOSIT RATIO 86% NET INCOME $21 MILLION OR $0.59 PER DILUTED COMMON SHARE NET CHARGE-OFFS 0.43% OF AVERAGE TOTAL LOANS EFFICIENCY RATIO 59.3%* RETURN ON AVERAGE ASSETS 0.92% NET INTEREST MARGIN 4.15% Q2 2025 *Non-US GAAP financial measure. Se
Slide 23: Improvement in Key Metrics: Expenses, ROATE, ROAA
NASDAQ: PEBO 23WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO $- $100,000 $200,000 $300,000 FY-21 FY-22 FY-23 FY-24 YTD-25 CORE NON-INTEREST EXPENSE* CORE NON-INTEREST EXPENSES NON-CORE EXPENSES* 16.9% 23.3% 25.6% 18.9% 13.5% 0.0% 10.0% 20.0% 30.0% FY-21 FY-22 FY-23 FY-24 YTD-25 RETURN ON AVERAG
Slide 24: Total Revenue
24 TOTAL REVENUE NASDAQ: PEBO RECORD TOTAL REVENUE IN 2024 SOURCES OF FEE BASED INCOME NON-INTEREST INCOME YTD 2025 $172,553 $253,442 $339,374 $348,701 $172,832 $69,254 $79,513 $93,950 $103,092 $54,622 $0 $100,000 $200,000 $300,000 $400,000 $500,000 FY-21 FY-22 FY-23 FY-24 YTD-25 RECORD TOTAL REVENU
Slide 25: Non-Interest Revenue Composition
23% 20% 19% 15% 14% 9% NON-INTEREST INCOME YTD 2025 $54 MILLION ELECTRONIC BANKING INSURANCE TRUST & INVESTMENTS DEPOSIT ACCOUNT SERVICE CHARGES LEASE INCOME OTHER 55% 15% 17% 13% TOTAL INSURANCE REVENUE YTD 2025 $10 MILLION PROPERTY & CASUALTY COMMERICAL LINES PERFORMANCE BASED PROPERTY & CASUALTY
Slide 26: Total Loan Growth
26 TOTAL LOAN GROWTH TOTAL LOANS* WERE $6.6 BILLION AS OF JUNE 30, 2025 *Also referred to throughout this document as “total loans and leases” and “loans held for investment” NASDAQ: PEBO TOTAL LOANS NOT ACQUIRED DURING THE CALENDAR YEAR EXCEPT PPP LOANS LIMESTONE ACQUIRED LOANS PPP LOANS TOTAL ACQU
Slide 27: Deposit Growth
34% OF DEPOSIT BALANCES AS OF JUNE 30, 2025 WERE DEMAND DEPOSIT ACCOUNTS (DDAS), INCLUDING $1.5 BILLION OF NON-INTEREST BEARING DDAS *DDAs stands for demand deposit accounts and represents interest-bearing and non-interest bearing transaction accounts. DEPOSIT GROWTH NASDAQ: PEBO 27WORKING TOGETHER.
Slide 28: 2025 Financial Expectations
28 2025 LOAN GROWTH EXPECT BETWEEN 4% AND 6%, COMPARED TO 2024 FEE-BASED INCOME ANTICIPATE GROWTH IN THE MIDDLE SINGLE DIGITS COMPARED TO 2024 CREDIT COSTS SMALL-TICKET LEASING NET CHARGE-OFFS EXPECTED TO PLATEAU OVER THE LAST TWO QUARTERS OF 2025. PROVISION FOR CREDIT LOSSES SHOULD DECLINE OVER THE
Slide 29: Q2 2025 Appendix
NASDAQ: PEBO 29WORKING TOGETHER. BUILDING SUCCESS. ® NASDAQ: PEBO Q2 2025 APPENDIX
Slide 30: Non-US GAAP Measures: Core Non-Interest Income and Expense
NASDAQ: PEBO APPENDIX NON-US GAAP MEASURES 30 CORE NON-INTEREST INCOME CORE NON-INTEREST EXPENSE ($ in Thousands) FY-21 FY-22 FY-23 FY-24 YTD-25 Total non-interest income $ 68,885 $ 78,836 $ 87,413 $ 99,366 $ 53,979 Less: net gain (loss) on investment securities (862) (61) (3,700) (416) (2) Less: ne
Slide 31: Non-US GAAP Measures: Efficiency Ratio
APPENDIX NON-US GAAP MEASURES NASDAQ: PEBO 31 EFFICIENCY RATIO AND ADJUSTED FOR NON-CORE ITEMS ($ in Thousands) FY-21 FY-22 FY-23 FY-24 Q2 2025 YTD-25 Total non-interest expense $ 183,737 $ 207,147 $ 266,847 $ 273,816 $ 70,362 $ 141,149 Less: amortization on other intangible assets 4,775 7,763 11,22
Slide 32: Non-US GAAP Measures: Return on Tangible Equity
NASDAQ: PEBO APPENDIX NON-US GAAP MEASURES 32 (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 33: Non-US GAAP Measures: Return on Equity Adjusted
APPENDIX NON-US GAAP MEASURES NASDAQ: PEBO 33 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 34: Non-US GAAP Measures: Return on Average Assets
NASDAQ: PEBO APPENDIX NON-US GAAP MEASURES 34 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 35: More Than Just a Bank / Peer Group Definitions
MORE THAN JUST A BANK NASDAQ: PEBO 35 LOCATIONS IN OHIO, WEST VIRGINIA, KENTUCKY, VIRGINIA, WASHINGTON D.C. AND MARYLAND NATIONWIDE SPECIALTY FINANCE DIVISIONS PROXY PEER GROUP DEFINITIONS AUB: Atlantic Union Bank CBU: Community Bank CCNE: CNB Bank CHCO: City National Bank CTBI: Community Trust Bank
Slide 36: Contact
peoplesbancorp.com Peoples Bancorp® is a federally registered service mark of Peoples Bancorp Inc. The three arched ribbons logo is a federally registered service mark of Peoples Bank. Peoples Bank (w/logo)® is a federally registered service mark of Peoples Bank. Working Together. Building Success.®