Peoples Bancorp Inc/OH - PEBO STOCK NEWS

The Board of Directors of Peoples Bancorp Inc. (NASDAQ: PEBO) announced a quarterly cash dividend of $0.39 per common share on April 24, 2023, with payment scheduled for May 22, 2023. Shareholders of record on May 8, 2023 will receive the payout of approximately $11.1 million. This dividend yields an annualized 6.15%, based on the closing stock price of $25.35 on April 21, 2023. As of March 31, 2023, Peoples reported total assets of $7.3 billion and operates 130 locations across multiple states including Ohio, West Virginia, Kentucky, Virginia, Washington D.C., and Maryland.

Peoples Bancorp Inc. (Nasdaq: PEBO) reported a net income of $26.6 million for the first quarter of 2023, equating to earnings per diluted share of $0.96, up from $0.95 in the prior quarter and $0.84 year-over-year. The net interest income rose by 3% quarter-over-quarter and 34% year-over-year, attributed to higher market interest rates and full-quarter contributions from the Vantage acquisition. However, the provision for credit losses of $1.9 million negatively impacted earnings by $0.05 per share. Non-interest income, excluding net gains and losses, grew by 9% sequentially, driven by increased insurance income. The company is set to finalize the acquisition of Limestone Bancorp on April 30, 2023, valued at approximately $208.2 million. Total loans increased 4% annualized, and total deposits rose 1% compared to the previous quarter.

Peoples Bancorp Inc. (NASDAQ: PEBO) has received all regulatory approvals for its merger with Limestone Bancorp, Inc. (NASDAQ: LMST). This merger will position Peoples as the surviving corporation, streamlining operations as Peoples Bank merges with Limestone Bank, Inc. The Merger Agreement was initially made on October 24, 2022, receiving shareholder approval from both companies on February 23, 2023. With total assets of $7.2 billion and a wide service offering, Peoples aims to enhance its market presence across Ohio, Kentucky, West Virginia, Virginia, Washington D.C., and Maryland. This merger is expected to consolidate their resources, potentially leading to improved financial performance and service efficiency.

Peoples Bancorp Inc. (Nasdaq: PEBO) plans to release its first quarter 2023 earnings on April 25, 2023, before the market opens. A conference call with CEO Chuck Sulerzyski and CFO Kathryn Bailey will follow at 11:00 a.m. EDT to discuss the results and answer questions. Interested parties can participate via the provided dial-in number or listen online. As of December 31, 2022, Peoples reported $7.2 billion in total assets with 130 locations across multiple states. The company has been operating since 1902 and is part of the Russell 3000 index.

Peoples Bancorp Inc. (NASDAQ: PEBO) has elected Dwight Smith to its Board of Directors, effective February 24, 2023. Smith, 65, brings over 43 years of experience in the information technology sector, including as founder and former CEO of Sophisticated Systems. His extensive board experience includes roles at Rocky Brands, Nationwide Children's Hospital, and the Federal Reserve Bank of Cleveland. Chairman Susan Rector and CEO Chuck Sulerzyski expressed optimism about his contributions to the bank's growth. Peoples Bancorp, headquartered in Marietta, Ohio, boasts total assets of $7.2 billion as of December 31, 2022, and operates 130 locations across several states.

MOBILE LADS, CORP. (OTC PINK: MOBO) announced a partnership with North Star Leasing to provide $25 million in equipment financing, specifically for EEG medical headsets, enabling healthcare providers in mental health and substance abuse to enhance clinical services. The average headset cost exceeds $30,000, and this financing will streamline the sales cycle from weeks to days, supporting $6 million revenue goals. North Star Leasing, a division of Peoples Bank (NASDAQ: PEBO), funded $135 million in 2022 and aims for $170 million in 2023. Avail targets 700 substance abuse clinics in Florida, emphasizing research in psychedelic medicine.