Peoples Bancorp Inc/OH - PEBO STOCK NEWS

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.

Peoples Bancorp Inc. (NASDAQ: PEBO) has announced the retirement of George W. Broughton from its Board of Directors after 33 years of service, effective April 27, 2023. Broughton, who has been Vice Chairman since 2013, has significantly contributed to the company's resilience through economic challenges, including the Great Recession and COVID-19. His leadership has been pivotal as Peoples experienced substantial growth, with total assets of $7.2 billion as of December 31, 2022. The Board and CEO Chuck Sulerzyski expressed gratitude for his service and contributions, highlighting the importance of community involvement for the bank.

Peoples Bancorp Inc. (PEBO) declared a quarterly cash dividend of $0.38 per common share on January 23, 2023, with a payment date set for February 21, 2023. This dividend totals approximately $10.8 million, representing 40.1% of the reported fourth quarter 2022 earnings. Based on the closing stock price of $28.31 on January 20, 2023, the annualized yield stands at 5.37%. As of December 31, 2022, Peoples reported total assets of $7.2 billion and operates 130 locations across various states.

Marietta, Ohio-based Peoples Bancorp Inc. (NASDAQ: PEBO) reported a strong financial performance for the fourth quarter and full year 2022. Net income for Q4 was $26.8 million, with an earnings per diluted share of $0.95, up from $0.92 in Q3 2022 but slightly down from $0.98 in Q4 2021. For the full year, net income reached $101.3 million, signifying a substantial increase from $47.6 million in 2021. The company benefitted from rising net interest income, driven by acquisitions and higher market interest rates, with a net interest margin of 4.44%. The planned acquisition of Limestone Bancorp is set for Q2 2023, valued at approximately $208.2 million.

Peoples Bancorp Inc. (Nasdaq: PEBO) announced the election of Carol A. Schneeberger to its Board of Directors on January 23, 2023. Schneeberger, 66, previously served as Executive Vice President and Chief Administrative Officer at Peoples, contributing over 42 years of experience in banking. Her expertise spans operations, compliance, and information security, which is expected to enhance the Board's oversight capabilities. Chairman Susan Rector and CEO Chuck Sulerzyski expressed confidence in Schneeberger's ability to provide valuable insights that align with the company's strategic goals. As of December 31, 2022, Peoples had $7.2 billion in total assets and operates 130 locations.

Peoples Bancorp Inc. (Nasdaq: PEBO) will release its fourth quarter and full year 2022 earnings on January 24, 2023, before market opens. A conference call will follow at 11:00 a.m. ET featuring CEO Chuck Sulerzyski and CFO Katie Bailey, who will discuss the results and answer questions. Participants can call (866) 890-9285 or access the webcast via the company's website. Peoples Bancorp, headquartered in Marietta, Ohio, boasts $7.0 billion in assets and operates 130 locations across multiple states.

Limestone Bancorp, Inc. (NASDAQ: LMST) has announced the termination of its Tax Benefit Preservation Plan, initially established in 2015 to safeguard the company's tax assets. This move aligns with the recent merger agreement with Peoples Bancorp, Inc. (NASDAQ: PEBO), leading to an accelerated expiration of the plan as of October 24, 2022. Shareholders are not required to take any action regarding the termination. However, the company's Articles of Incorporation still enforce restrictions to protect its tax assets.

Peoples Bancorp Inc. (PEBO) and Limestone Bancorp, Inc. (LMST) have signed a definitive agreement for an all-stock merger valued at approximately $208.2 million. This merger will enhance Peoples' market presence by adding Limestone's 20 branches across Kentucky, increasing total assets to $8.5 billion upon completion. Shareholders of Limestone will receive 0.90 shares of Peoples common stock for each share of Limestone they own, with the merger expected to close in the second quarter of 2023.