PEOPLES BANCORP INC. ANNOUNCES SECOND QUARTER 2022 RESULTS

• Period-end total loan balances were up $28.8 million compared to March 31, 2022.
• The increase in period-end loan balances was primarily the result of growth in consumer indirect loans, leases, and premium finance loans, offset by reductions in construction loans, and commercial and industrial loans.
• Average loan balances increased for the quarter, compared to the linked quarter. The increase was driven by a $126.1 million increase in leases, partially offset by reductions of $24.9 million in residential real estate loans and $24.6 million in commercial and industrial loans.
• Excluding forgiveness received on Paycheck Protection Program ("PPP") loans, loan balances grew at a 4% annualized rate.
• Asset quality metrics remained stable during the quarter.
• Annualized net charge-offs for the quarter remained low at 0.14% of average total loans, with a decrease of four basis points compared to the linked quarter.
• The recovery of credit losses recorded during the quarter was primarily driven by changes in our loss drivers coupled with a reduction in reserves for individually analyzed loans.
• Delinquency trends declined slightly as loans considered current comprised 98.8% of the loan portfolio at June 30, 2022, compared to 98.9% at March 31, 2022.
• Nonperforming assets decreased $0.4 million compared to March 31, 2022. The decrease was attributable to a reduction in nonaccrual commercial and industrial loans, partially offset by an increase in nonperforming leases.
• Criticized loans decreased $7.9 million during the second quarter of 2022. The decrease was primarily related to the pay-off of several commercial loans.
• Classified loans increased $6.6 million during the second quarter of 2022. The increase was driven by downgrades of a few commercial relationships.
• Period-end total deposit balances at June 30, 2022 decreased $73.7 million, or 1%, compared to March 31, 2022.
• The decrease in total deposits compared to March 31, 2022 was driven primarily by a reduction of $36.2 million in interest-bearing transactional accounts, a $28.7 million decrease in retail certificates of deposits, and a decrease of $11.0 million in money market deposit accounts.
• Total demand deposit balances were 47% of total deposit balances at June 30, 2022 and at March 31, 2022.

Net Interest Income:
Net interest income was $61.5 million for the second quarter of 2022, an increase of $7.2 million, or 13%, compared to the linked quarter.  Net interest margin was 3.84% for the second quarter of 2022, compared to 3.41% for the linked quarter.  The increase in net interest income and net interest margin was partially driven by accretion income, net of amortization expense, from acquisitions, which positively impacted loan yields by 34 basis points, while the recent increases in market interest rates also improved loan yields compared to the linked quarter.     

Net interest income for the second quarter of 2022 increased $21.8 million, or 55%, compared to the second quarter of 2021.  Net interest margin increased 39 basis points compared to 3.45% for the second quarter of 2021.  The increase in net interest income compared to the second quarter of 2021 was driven by the increases in market interest rates and the Premier Merger and Vantage acquisition.

Accretion income, net of amortization expense, from acquisitions was $3.9 million for the second quarter of 2022, $2.7 million for the first quarter of 2022 and $0.8 million for the second quarter of 2021, which added 25 basis points, 17 basis points and 7 basis points, respectively, to net interest margin.  The increase in accretion income for the current quarter was a result of the acquisition of Vantage.

For the first six months of 2022, net interest income increased $40.5 million, or 54%, compared to the first six months of 2021, while net interest margin increased 27 basis points to 3.63%. The increase in net interest income was driven by the Premier Merger and Vantage acquisition, core growth, and increases in market interest rates.

Accretion income, net of amortization expense, from acquisitions was $6.7 million for the six months ended June 30, 2022, compared to $1.2 million for the six months ended June 30, 2021, which added 21 and 6 basis points, respectively, to net interest margin. The increase in accretion income for the first six months of 2022 compared to 2021 was a result of the Premier Merger, and acquisitions of NS Leasing, LLC ("NSL") and Vantage.

(Recovery of) Provision for Credit Losses:
The recovery of credit losses was $0.8 million for the second quarter of 2022, compared to $6.8 million for the linked quarter and a provision for credit losses of $3.1 million for the second quarter of 2021.  The release of credit losses in the second quarter of 2022 was largely attributable to a reduction in reserves for individually analyzed loans.  

Net charge-offs for the second quarter of 2022 were $1.5 million, or 0.14% of average total loans annualized, compared to net charge-offs of $1.9 million, or 0.17% of average total loans annualized, for the linked quarter and net charge-offs of $0.8 million, or 0.09% of average total loans annualized, for the second quarter of 2021. For additional information on credit trends and the allowance for credit losses, see the "Asset Quality" section below.

Net Gains and Losses:
Net gains and losses include gains and losses on investment securities, asset disposals and other transactions, which are included in total non-interest income on the Consolidated Statements of Operations.  The net loss realized during the second quarter of 2022 was $196,000, compared to a net gain of $3,000 for the linked quarter, and a net loss of $0.3 million for the second quarter of 2021.  The net loss for the second quarter of 2022 was attributable to a $119,000 loss recorded on repossessed assets coupled with a $44,000 loss on the sale of investment securities in order to reinvest into higher yielding securities.

The net loss realized during the first six months of 2022 was $193,000, compared to $0.7 million for the first six months of 2021.  The net loss for the first six months of 2022 were primarily driven by an adjustment to the gain on sale of loans recognized in the fourth quarter of 2021 due to a measurement period adjustment to the acquisition-date fair value of Premier loans acquired that were subsequently sold.  The net loss recognized in the first six months of 2021 was the result of sales of available-for-sale investment securities in order to reinvest into higher yielding investments that were less sensitive to prepayment speeds.

Total Non-interest Income, Excluding Net Gains and Losses:
Total non-interest income, excluding net gains and losses, for the second quarter of 2022 declined $0.5 million compared to the linked quarter.  The decrease in non-interest income, excluding net gains and losses, was the result of lower insurance income, which included annual performance-based insurance commissions of $1.3 million that are recognized in the first quarter of each year. The decrease was partially offset by an increase of $0.4 million in bank owned life insurance income, which includes $248,000 recognized on a one-time death benefit. Peoples also invested an additional $30.0 million in bank owned life insurance policies during the second quarter of 2022.       

Compared to the second quarter of 2021, non-interest income, excluding net gains and losses, increased $3.4 million.  Deposit account service charges increased $1.5 million and electronic banking income increased $1.0 million.  The increase in deposit account service charges was primarily attributable to overdraft and non-sufficient fees driven by a larger customer base following the Premier Merger.  Electronic banking income increased in the second quarter of 2022 due to an increase in the interchange income earned from customers' debit card usage, driven partially by customers added in the Premier Merger.  

For the first six months of 2022, total non-interest income, excluding gains and losses, increased $6.2 million, or 19%, compared to the first six months of 2021. The increase was driven by growth of  $3.0 million, or 73%, in service charges on deposit accounts and $2.3 million, or 28%, in electronic banking income, primarily attributable to customers added in the Premier Merger. 

Total Non-interest Expense:
Total non-interest expense decreased $1.7 million, or 3%, for the three months ended June 30, 2022, compared to the linked quarter.  Total non-interest expense in the second and first quarters of 2022 also contained non-core expenses, including acquisition-related expenses of $0.6 million and $1.4 million, respectively.  The decrease in total non-interest expense for the second quarter of 2022 was attributable to decreases in professional fees, acquisition-related expenses, other loan expenses, net occupancy and equipment expense, FDIC insurance premiums, and marketing expenses.

Compared to the second quarter of 2021, total non-interest expense increased $10.0 million, or 25%, primarily due to an increase in salaries and employee benefit costs of $5.7 million, an increase in net occupancy and equipment expense of $1.5 million, an increase in amortization of other intangible assets of $0.7 million, and an increase in FDIC insurance premiums of $0.7 million.  Those increases were primarily the result of the Premier Merger and the acquisition of the equipment financing business from Vantage.  

For the six months ended June 30, 2022, total non-interest expense increased $23.6 million, or 30%, compared to the first six months of 2021. The variance was driven by an increase of $12.6 million in salaries and employee benefits costs, $3.2 million in net occupancy and equipment expense, $1.8 million in intangible asset amortization, and $1.5 million in electronic banking expense.

The efficiency ratio for the second quarter of 2022 was 58.8%, compared to 66.8% for the linked quarter, and 68.6% for the second quarter of 2021.  The change in the efficiency ratio compared to the linked quarter was primarily due to the increases in interest rates coupled with decreases in acquisition-related expenses, salaries and employee benefits costs, and FDIC insurance premiums.  The efficiency ratio, adjusted for non-core items, was 58.0% for the second quarter of 2022, compared to 64.8% for the linked quarter and 64.0% for the second quarter of 2021.  The efficiency ratio is typically higher in the first quarter of the year driven by the aforementioned salaries and employee benefit costs, and specifically by higher payroll taxes, employer contributions to health savings accounts and stock-based compensation expenses for certain employees.  Peoples continues to focus on controlling expenses, while recognizing some necessary costs in order to continue growing the business. 

Income Tax Expense: 
Peoples recorded income tax expense of $6.8 million for the second quarter of 2022, compared to income tax expense of $6.0 million for the linked quarter and income tax expense of $2.4 million for the second quarter of 2021.  The increase in income tax expense for the second quarter of 2022, compared to income tax expense for the linked quarter, was due to an increase in Peoples' effective tax rate.  The increase in income tax expense for the three months ended June 30, 2022, compared to the three months ended June 30, 2021, was driven by higher pre-tax income and the increase in the effective tax rates.  Peoples recorded income tax expense of $12.8 million in the first six months of 2022 and $6.2 million in the first six months of 2021, with the increase being driven by higher pre-tax income.   

Loans:
The period-end total loan balances at June 30, 2022 increased $28.8 million compared to March 31, 2022.  The increase in the period-end loan balances was driven by increases of $38.3 million in consumer indirect loans and $47.4 million in leases, partially offset by a reduction in construction loans of $35.7 million.  Excluding $26.7 million forgiveness received on PPP loans, and $14.7 million in purchase accounting adjustments, loan balances grew at a 4% annualized rate. As of June 30, 2022, the remaining balance of PPP loans was $15.2 million.

The period-end total loan balances increased $94.3 million, or 2%, compared to December 31, 2021. The increase in the period-end loan balances was primarily driven by the $157.5 million of leases acquired from Vantage, partially offset by a reduction of $35.7 million in construction loans.

The period-end total loan balances increased $1.2 billion compared to June 30, 2021.  The increase in the period-end loan balances was driven by $1.1 billion in loans acquired from Premier as of the merger date, along with leases acquired from Vantage totaling $157.5 million as of the acquisition date.

Quarterly average loan balances increased $89.8 million, or 2%, in the second quarter of 2022 compared to the linked quarter.  The increase was driven by the leases acquired from Vantage, partially offset by reductions of $24.9 million in residential real estate loans and $24.6 million in commercial and industrial loans.  Compared to the second quarter of 2021, quarterly average loan balances increased $1.1 billion, or 33%, driven by loans acquired from Premier, and leases acquired from Vantage, as well as leases originated. 

For the first six months of 2022, average loan balances increased $1.1 billion, or 33%, compared to 2021. The increase was driven by loans and leases acquired from Premier and Vantage.

Asset Quality:
Asset quality metrics remained stable during the quarter.  Total nonperforming assets decreased $0.4 million, or less than 1%, compared to March 31, 2022, and were up $19.9 million compared to June 30, 2021.  The decrease in nonperforming assets compared to the prior quarter was primarily attributable to a reduction in nonaccrual commercial and industrial loans offset by an increase in past due leases.  The increase from the prior year quarter was driven by nonperforming loans acquired from Premier. Nonperforming assets as a percent of total loans and OREO were 1.02% at June 30, 2022, down from 1.04% at March 31, 2022 and up compared to 0.80% at June 30, 2021.

Criticized loans, which are those categorized as special mention, substandard or doubtful, decreased $8.9 million compared to March 31, 2022 and were up $67.6 million compared to June 30, 2021.  As a percent of total loans, criticized loans were 3.96% at June 30, 2022, compared to 4.19% at March 31, 2022 and 3.37% at June 30, 2021.  The decrease in the amount of criticized loans compared to March 31, 2022 was primarily related to the pay-off of several commercial loans.  Compared to June 30, 2021, the increase in the amount of criticized loans was largely due to criticized loans acquired from Premier.  Classified loans, which are those categorized as substandard or doubtful, increased $6.0 million compared to March 31, 2022, and were up $46.3 million compared to June 30, 2021.  As a percent of total loans, classified loans were 2.52% at June 30, 2022, compared to 2.41% at March 31, 2022, and 2.05% at June 30, 2021.  The increase in classified loans compared to the prior quarter was driven by downgrades of several commercial relationships.

Annualized net charge-offs were 0.14% of average total loans for the second quarter of 2022, compared to 0.17% for the linked quarter and 0.09% for the prior year quarter, with the decrease relative to the prior quarter driven by charge-offs on commercial and industrial loans, while the increase versus the prior year quarter was attributable to loans acquired in the merger with Premier.

At June 30, 2022, the allowance for credit losses was $52.3 million, compared to $54.8 million at March 31, 2022, and $47.9 million at June 30, 2021.  The change in the allowance for credit losses compared to March 31, 2022 was primarily due to a reduction of reserves for individually analyzed loans.  The ratio of the allowance for credit losses as a percent of total loans was 1.14% at June 30, 2022, compared to 1.20% at March 31, 2022 and 1.42% at June 30, 2021. The ratio of the allowance for credit losses as a percent of total loans includes PPP loans that do not have an allowance because of the guarantee by the Small Business Administration.  Excluding PPP loans, the ratio of the allowance for credit losses as a percent of total loans would increase to 1.15% at June 30, 2022, compared to 1.22% at March 31, 2022, and 1.51% at June 30, 2021. 

Deposits:
As of June 30, 2022, period-end deposit balances decreased $73.7 million, or 1%, compared to March 31, 2022.  The decrease was driven by a decline in interest-bearing transaction accounts of $36.2 million, a decrease in retail certificates of deposits of $28.7 million, and a decrease of $11.0 million in money market deposit accounts.

Period-end deposit balances increased $66.7 million, or 1%, compared to December 31, 2021. The variance was driven by increases of $110.8 million in governmental deposit accounts and $43.3 million in savings accounts, offset by decreases of $59.5 million in retail certificates of deposits and $24.5 million in interest-bearing demand accounts.

Period-end deposit balances grew $1.7 billion, or 40%, compared to June 30, 2021.  The increase was driven by deposits acquired from Premier.  Excluding the deposits acquired from Premier, deposits increased $92.0 million primarily as a result of an increase in non-interest bearing deposits.  Customers continued to maintain higher balances due primarily to economic stimulus payments provided by the government, as well as changes in customer buying habits.  

Average deposit balances during the second quarter of 2022 increased $68.8 million, or 1%, compared to the linked quarter.  This increase was driven by higher non-interest bearing deposits, partially offset by a decrease in time deposits. Compared to the second quarter of 2021, quarterly average deposits increased $1.6 billion, or 37%, driven by deposits acquired from Premier.  Total demand deposit accounts comprised 47% of total deposits at June 30, 2022 and March 31, 2022, and 45% at June 30, 2021.

Stockholders' Equity:
Total stockholders' equity at June 30, 2022 decreased by $21.5 million compared to March 31, 2022, which reflected an other comprehensive loss of $30.7 million, dividends paid of $10.8 million, and share repurchases of $6.0 million, partially offset by net income for the quarter of $24.9 million. The other comprehensive loss was the result of changes in the market value of available-for-sale investment securities, which was driven by changes in market interest rates. 

Total stockholders' equity at June 30, 2022 decreased by $58.2 million compared to December 31, 2021, which was due to an other comprehensive loss of $81.7 million, partially offset by net income of $48.5 million for the first six months of 2022. The other comprehensive loss was the result of changes in the market value of available-for-sale investment securities, which was driven by changes in market interest rates.

Total stockholders' equity at June 30, 2022 increased $201.3 million, or 34%, compared to June 30, 2021, which was mainly due to common shares issued for the Premier Merger and $70.5 million in net income during the prior twelve-month period, offset by an increase in accumulated other comprehensive loss of $91.1 million and dividends paid of $38.2 million.  The increase in accumulated other comprehensive loss was the result of unrealized losses related to the available-for-sale investment securities portfolio from June 30, 2021 to June 30, 2022.

At June 30, 2022, the tier 1 risk-based capital ratio was 11.91%, compared to 11.80% at March 31, 2022, and 11.56% at June 30, 2021.  The common equity tier 1 risk-based capital ratio was 11.62% at June 30, 2022, compared to 11.51% at March 31, 2022, and 11.34% at June 30, 2021.  The total risk-based capital ratio was 12.81% at June 30, 2022, compared to 12.78% at March 31, 2022, and 12.75% at June 30, 2021.  Peoples adopted the five-year transition to phase in the impact of the adoption of CECL, effective January 1, 2020, on regulatory capital ratios.  Compared to March 31, 2022, these ratios improved due to the cash acquisition of Vantage in the first quarter of 2022.  Compared to June 30, 2021, the capital ratios improved as a recovery of credit losses was recorded, positively impacting stockholders' equity.

Book value per common share and tangible book value per common share, which excludes goodwill and other intangible assets, were $27.81 and $16.21, respectively, at June 30, 2022, compared to $28.41 and $16.39, respectively, at March 31, 2022, and $29.78 and $18.51, respectively, at June 30, 2021.   Both ratios decreased compared to March 31, 2022 due to other comprehensive losses recognized in the second quarter of 2022. Both ratios decreased compared to June 30, 2021 due to the common shares issued in the Premier Merger, with tangible book value also impacted by the intangible assets recognized in the Premier Merger and Vantage acquisition.  

The ratio of total stockholders' equity to total assets decreased to 10.81% at June 30, 2022, from 11.17% at March 31, 2022, and 11.55% at June 30, 2021, because assets grew faster than stockholders' equity due to the Premier Merger and Vantage acquisition.  The tangible equity to tangible assets ratio, which excludes goodwill and other intangible assets, decreased 16 basis points and 91 basis points compared to March 31, 2022, and June 30, 2021, respectively, due primarily to increases in accumulated other comprehensive loss and goodwill and other intangible assets recognized in the Premier Merger and acquisition of Vantage. 

Peoples Bancorp Inc. ("Peoples", Nasdaq: PEBO) is a diversified financial services holding company that makes available a complete line of banking, trust and investment, insurance, premium financing and equipment leasing solutions through its subsidiaries. Peoples has been headquartered in Marietta, Ohio since 1902.  Peoples had $7.3 billion in total assets as of June 30, 2022, and 136 locations, including 117 full-service bank branches in Ohio, West Virginia, Kentucky, Virginia, Washington D.C. and Maryland.  Peoples' vision is to be the Best Community Bank in America.

Peoples is a member of the Russell 3000 index of U.S. publicly-traded companies.  Peoples offers services through Peoples Bank (which includes the divisions of Peoples Investment Services, Peoples Premium Finance and NSL), Peoples Insurance Agency, LLC and Vantage Financial, LLC ("Vantage").

Conference Call to Discuss Earnings:
Peoples will conduct a facilitated conference call to discuss second quarter 2022 results of operations on July 26, 2022 at 11:00 a.m., Eastern Daylight Time, with members of Peoples' executive management participating.  Analysts, media and individual investors are invited to participate in the conference call by calling (866) 890-9285.  A simultaneous webcast of the conference call audio will be available online via the "Investor Relations" section of Peoples' website, www.peoplesbancorp.com.  Participants are encouraged to call or sign in at least 15 minutes prior to the scheduled conference call time to ensure participation and, if required, to download and install the necessary software.  A replay of the call will be available on Peoples' website in the "Investor Relations" section for one year.

Use of Non-US GAAP Financial Measures:
This news release contains financial information and performance measures determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("US GAAP").  Management uses these "non-US GAAP" financial measures in its analysis of Peoples' performance and the efficiency of its operations. Management believes that these non-US GAAP financial measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods and peers.  These disclosures should not be viewed as substitutes for financial measures determined in accordance with US GAAP, nor are they necessarily comparable to non-US GAAP performance measures that may be presented by other companies. Below is a listing of the non-US GAAP financial measures used in this news release:

• Core non-interest expense is a non-US GAAP financial measure since it excludes the impact of acquisition-related expenses, severance expenses, COVID-19-related expenses, and the contribution to Peoples Bank Foundation, Inc.
• The efficiency ratio is calculated as total non-interest expense (less amortization of other intangible assets) as a percentage of fully tax-equivalent net interest income plus total non-interest income, excluding net gains and losses. This ratio is a non-US GAAP financial measure since it excludes amortization of other intangible assets and all gains and losses included in earnings, and uses fully tax-equivalent net interest income.
• The efficiency ratio adjusted for non-core items is calculated as core non-interest expense (less amortization of other intangible assets) as a percentage of fully tax-equivalent net interest income plus total non-interest income, excluding net gains and losses. This ratio is a non-US GAAP financial measure since it excludes the impact of acquisition-related expenses, severance expenses, COVID-19-related expenses, the contribution to Peoples Bank Foundation, Inc., and the amortization of other intangible assets and all gains and losses included in earnings, and uses fully tax-equivalent net interest income.
• Tangible assets, tangible equity, the tangible equity to tangible assets ratio and tangible book value per common share are non-US GAAP financial measures since they exclude the impact of goodwill and other intangible assets acquired through acquisitions on both total stockholders' equity and total assets.
• Total non-interest income, excluding net gains and losses, is a non-US GAAP financial measure since it excludes all gains and losses included in earnings.
• Pre-provision net revenue is defined as net interest income plus total non-interest income, excluding net gains and losses, minus total non-interest expense. This measure is a non-US GAAP financial measure since it excludes the recovery of credit losses and all gains and losses included in net income.
• Return on average assets adjusted for non-core items is calculated as annualized net income (less the after-tax impact of all gains and losses, acquisition-related expenses, severance expenses, COVID-19-related expenses, and the contribution to Peoples Bank Foundation Inc.) divided by average assets. This measure is a non-US GAAP financial measure since it excludes the after-tax impact of all gains and losses, acquisition-related expenses, severance expenses, COVID-19-related expenses, and the contribution to Peoples Bank Foundation, Inc.
• Return on average tangible equity is calculated as annualized net income (less the after-tax impact of amortization of other intangible assets) divided by average tangible equity. This measure is a non-US GAAP financial measure since it excludes the after-tax impact of amortization of other intangible assets from net income and the impact of average goodwill and other average intangible assets acquired through acquisitions on average stockholders' equity.

A reconciliation of these non-US GAAP financial measures to the most directly comparable US GAAP financial measures is included at the end of this news release under the caption of "Non-US GAAP Financial Measures (Unaudited)."

Safe Harbor Statement:
Certain statements made in this news release regarding Peoples' financial condition, results of operations, plans, objectives, future performance and business, 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 Act of 1995.  These forward-looking statements are identified by the fact they are not historical facts and include words such as "anticipate," "estimate," "may," "feel," "expect," "believe," "plan," "will," "will likely," "would," "should," "could," "project," "goal," "target," "potential," "seek," "intend," "continue," "remain," and similar expressions.

These forward-looking statements reflect management's current expectations based on all information available to management and its knowledge of Peoples' business and operations.  Additionally, Peoples' financial condition, results of operations, plans, objectives, future performance and business are subject to risks and uncertainties that may cause actual results to differ materially.  These factors include, but are not limited to:

(1)	the ever-changing effects of the global COVID-19 pandemic - the duration, extent and severity of which are impossible to predict, including the possibility of further resurgence in the spread of COVID-19 or variants thereof - on economies (local, national and international), supply chains and markets, on the labor market, including the potential for a sustained reduction in labor force participation, and on Peoples' customers, counterparties, employees and third-party service providers, as well as the effects of various responses of governmental and nongovernmental authorities to the COVID-19 pandemic, including public health actions directed toward the containment of the COVID-19 pandemic (such as quarantines, shut downs and other restrictions on travel and commercial, social and other activities), the availability, effectiveness and acceptance of vaccines, and the implementation of fiscal stimulus packages, which could adversely impact sales volumes, add volatility to the global stock markets, and increase loan delinquencies and defaults;
(2)	changes in the interest rate environment due to economic conditions related to the COVID-19 pandemic or other factors and/or the fiscal and monetary policy measures undertaken by the U.S. government and the Board of Governors of the Federal Reserve System (the "Federal Reserve Board") in response to such economic conditions, which may adversely impact interest rates, the interest rate yield curve, interest margins, loan demand and interest rate sensitivity;
(3)	the effects of  inflationary pressures and the impact of rising interest rates on borrowers' liquidity and ability to repay
(4)	the success, impact, and timing of the implementation of Peoples' business strategies and Peoples' ability to manage strategic initiatives, including the completion and successful integration of planned acquisitions, including the recently-completed merger with Premier and the recently-completed acquisitions of NSL and Vantage, and the expansion of commercial and consumer lending activities, in light of the continuing impact of the COVID-19 pandemic on customers' operations and financial condition;
(5)	competitive pressures among financial institutions, or from non-financial institutions, which may increase significantly, including product and pricing pressures, which can in turn impact Peoples' credit spreads, changes to third-party relationships and revenues, changes in the manner of providing services, customer acquisition and retention pressures, and Peoples' ability to attract, develop and retain qualified professionals;
(6)	uncertainty regarding the nature, timing, cost, and effect of legislative or regulatory changes or actions, or deposit insurance premium levels, promulgated and to be promulgated by governmental and regulatory agencies in the State of Ohio, the Federal Deposit Insurance Corporation, the Federal Reserve Board and the Consumer Financial Protection Bureau, which may subject Peoples, its subsidiaries, or one or more acquired companies to a variety of new and more stringent legal and regulatory requirements which adversely affect their respective businesses, including in particular the rules and regulations promulgated and to be promulgated under the CARES Act, and the follow-up legislation enacted as the Consolidated Appropriations Act, 2021, the American Rescue Plan Act of 2021, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, and the Basel III regulatory capital reform;
(7)	the effects of easing restrictions on participants in the financial services industry;
(8)	local, regional, national and international economic conditions (including the impact of potential or imposed tariffs, a U.S. withdrawal from or significant renegotiation of trade agreements, trade wars and other changes in trade regulations, and changes in the relationship of the U.S. and its global trading partners) and the impact these conditions may have on Peoples, its customers and its counterparties, and Peoples' assessment of the impact, which may be different than anticipated;
(9)	Peoples may issue equity securities in connection with future acquisitions, which could cause ownership and economic dilution to Peoples' current shareholders;
(10)	changes in prepayment speeds, loan originations, levels of nonperforming assets, delinquent loans, charge-offs, and customer and other counterparties' performance and creditworthiness generally, which may be less favorable than expected in light of the COVID-19 pandemic and adversely impact the amount of interest income generated;
(11)	Peoples may have more credit risk and higher credit losses to the extent there are loan concentrations by location or industry of borrowers or collateral;
(12)	future credit quality and performance, including expectations regarding future credit losses and the allowance for credit losses;
(13)	changes in accounting standards, policies, estimates or procedures may adversely affect Peoples' reported financial condition or results of operations;
(14)	the impact of assumptions, estimates and inputs used within models, which may vary materially from actual outcomes, including under the CECL model;
(15)	the replacement of the London Interbank Offered Rate ("LIBOR") with other reference rates which may result in increased expenses and litigation, and adversely impact the effectiveness of hedging strategies;
(16)	adverse changes in the conditions and trends in the financial markets, including the impacts of the COVID-19 pandemic and the related responses by governmental and nongovernmental authorities to the pandemic, which may adversely affect the fair value of securities within Peoples' investment portfolio, the interest rate sensitivity of Peoples' consolidated balance sheet, and the income generated by Peoples' trust and investment activities;
(17)	the volatility from quarter to quarter of mortgage banking income, whether due to interest rates, demand, the fair value of mortgage loans, or other factors;
(18)	Peoples' ability to receive dividends from its subsidiaries;
(19)	Peoples' ability to maintain required capital levels and adequate sources of funding and liquidity;
(20)	the impact of larger or similar-sized financial institutions encountering problems, which may adversely affect the banking industry and/or Peoples' business generation and retention, funding and liquidity;
(21)	Peoples' ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks, including those of Peoples' third-party vendors and other service providers, which may prove inadequate, and could adversely affect customer confidence in Peoples and/or result in Peoples incurring a financial loss;
(22)	Peoples' ability to anticipate and respond to technological changes, and Peoples' reliance on, and the potential failure of, a number of third-party vendors to perform as expected, including Peoples' primary core banking system provider, which can impact Peoples' ability to respond to customer needs and meet competitive demands;
(23)	operational issues stemming from and/or capital spending necessitated by the potential need to adapt to industry changes in information technology systems on which Peoples and its subsidiaries are highly dependent;
(24)	changes in consumer spending, borrowing and saving habits, whether due to changes in retail distribution strategies, consumer preferences and behavior, changes in business and economic conditions (including as a result of the COVID-19 pandemic), legislative or regulatory initiatives (including those in response to the COVID-19 pandemic), or other factors, which may be different than anticipated; Werbung Mehr Nachrichten zur Peoples Bancorp Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 25.04.24 - PR Newswire Moonpig Group Plc - Holding(s) in Company 25.04.24 - PR Newswire Samson Rock Capital LLP - Form 8.3 - Wincanton Plc 25.04.24 - PR Newswire Samson Rock Capital LLP - Form 8.3 - Shanta Gold Ltd SolarBank    Wie die Revolution der sauberen Energie eine solide Investitionsmöglichkeit bieten könnte weiterlesen» Anzeige wo-site-teaser-box-16755_site-teaser-box_2024-04-25_09%253A00%253A00_2024-04-26_09%253A00%253A59