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**【CEO Summary Section】**
- **Revenue Growth**: Annualized loan growth of 8% for the quarter, driven by commercial real estate and industrial loan balances. Total loan growth year-to-date 2025 was 6%, with expectations for 4-6% growth in 2026.
- **Net Interest Margin**: Core net interest margin expanded 5 basis points (excluding accretion income), marking the fifth consecutive quarterly increase. Full-year 2025 net interest margin expected between 4.0-4.2%.
- **Efficiency Ratio**: Improved to 57.1%, with plans to achieve positive operating leverage in 2026.
- **Capital Position**: Tangible equity to tangible assets ratio increased to 8.5%, with book value per share up 2%.
- **M&A Strategy**: Targeting $10 billion in assets by 2027 through organic growth, with patience for strategic acquisitions.

**【CFO Financial Commentary】**
- **Net Interest Income**: $420 million for the quarter, with core net interest margin expansion of 5 basis points. Noninterest expenses declined 1% due to lower professional fees.
- **Fee-Based Income**: Grew 7% year-to-date, driven by lease income and commercial loan swap fees.
- **Balance Sheet Management**: Reduced investment in lower-yielding securities by $75 million, reinvesting in higher-yielding assets. Deposit growth outpaced loan growth, with loan-to-deposit ratio at 88%.
- **Capital Allocation**: Buyback program active; dividend payout ratio maintained at ~30%. 

**【Q&A Key Highlights】**
- **Rate Cuts Impact**: Each 25 bps rate cut expected to reduce net interest margin by 3-4 basis points. Floating-rate loan repricing and deposit cost management to mitigate impact.
- **Loan Payoffs**: Anticipated $35-55 million in upgrades/payoffs in Q4 2025. 
- **Consumer Loan Performance**: Auto portfolio FICO average 746, with indirect lending losses at 71 basis points year-to-date.
- **M&A Activity**: Focus on strategic deals, with no immediate pressure to cross $10 billion threshold.
- **North Star Portfolio**: Charge-offs declining as high-balance accounts reduced by 50% year-over-year.

Peoples Bancorp Inc. (PEBO) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

PEBO

PEBO fundamentals

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