Peoples Bancorp Inc. (NASDAQ: PEBO) announced its financial results for the third quarter of 2026, reporting net income of $32.6 million. This figure represents earnings per diluted common share of $0.91. In comparison, the company recorded net income of $28.0 million ($0.78 per share) for the second quarter of 2026 and $29.5 million ($0.83 per share) for the third quarter of 2025.
Net interest income for the third quarter was $93.8 million, an increase of $1.1 million from the linked quarter. The net interest margin increased to 4.31% from 4.23% in the previous quarter, driven by higher investment and loan yields. The company noted that lower deposit and borrowing costs compared to the prior year contributed to these increases.
Regarding asset quality, the provision for credit losses was $3.6 million for the quarter, a decrease of $1.1 million compared to the linked quarter. This reduction was attributed to declines in reserves for individually-analyzed loans and leases, partially offset by higher net charge-offs. The company also reported a net loss of $4.8 million from the sale of available-for-sale securities.
In other business developments, Peoples Bancorp disclosed two pending merger agreements. On April 21, 2026, the company announced a cash and stock transaction valued at approximately $76.6 million to acquire Citizens National Corporation, the parent company of Citizens Bank of Kentucky, Inc. Additionally, on September 30, 2026, the company announced an all-stock transaction valued at approximately $728.1 million to acquire Capital Bancorp, Inc., the parent company of Capital Bank, N.A. As of September 30, 2026, the company recognized $1.9 million in total acquisition-related expenses associated with these pending transactions.
The company’s Board of Directors declared a quarterly dividend of $0.42 per common share on October 19, 2026. A conference call to discuss the results is scheduled for October 19, 2026, at 11:00 a.m. Eastern Daylight Time.
