PEOPLES BANCORP INC. ELECTS NEW DIRECTOR

Rhea-AI Summary

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.

Positive

• Dwight Smith's extensive experience in information technology is expected to enhance the Board's strategic insights.
• His background as a successful entrepreneur may contribute positively to the bank's growth and innovation.

Negative

• Smith's recent transition from a CEO role may raise concerns about his acclimation to the banking sector.

MARIETTA, Ohio, Feb. 24, 2023 /PRNewswire/ -- Peoples Bancorp Inc. ("Peoples") (Nasdaq: PEBO) today announced that Dwight Smith has been elected to the Peoples Board of Directors.  He also joined the Board of Directors of Peoples' banking subsidiary, Peoples Bank.  Mr. Smith, 65, is the founder and former President and CEO of Sophisticated Systems, Inc., an information technology consulting company in Columbus, Ohio.  Mr. Smith founded Sophisticated Systems in 1990 and served as President and CEO until February 1, 2023.  He has over 43 years of information technology and software industry experience, including nearly eight years (1979-1987) with IBM.    

Mr. Smith also has extensive experience serving on public and private company and non-profit boards of directors, including serving as a director of Rocky Brands, Inc. (2023-present), Nationwide Children's Hospital (2013-present) and State Auto Mutual Insurance Company (2005-2017).  Mr. Smith also served as a member of the board of directors of the Federal Reserve Bank of Cleveland from 2016 until 2022.   

"We are thrilled to have Dwight join our Board," said Susan Rector, Peoples' Chairman of the Board.  "His knowledge of the information technology sector combined with his many years of experience serving on boards of directors of both public and private companies will be of great value to the Board as the bank continues to grow."   

Chuck Sulerzyski, President and Chief Executive Officer for Peoples, said that he too is pleased with Mr. Smith's election.  "Dwight is a wonderful addition to our Board.  As an entrepreneur who created and operated a successful business for many years, he will bring valuable insights and perspective to the Board.  Dwight also has a passion for philanthropy and community service, which fits nicely with our culture. I am delighted that he has joined us."

Mr. Smith's volunteer and philanthropic activities include My Special Word, a not-for-profit program with the aspiration of inspiring youth through the use of positive words.  Mr. Smith earned his Bachelor of Science in Marketing and Master of Business Administration degrees from the Ohio State University.

Peoples is a diversified financial services holding company and makes available a complete line of banking, trust and investment, insurance and premium financing solutions through its subsidiaries.  Peoples Bank has been headquartered in Marietta, Ohio since 1902.  Peoples has established a heritage of financial stability, growth and community impact.  Peoples had $7.2 billion in total assets as of December 31, 2022, and 130 locations, including 113 full-service bank branches in Ohio, Kentucky, West Virginia, Virginia, Washington D.C., and Maryland.  Peoples is a member of the Russell 3000 index of U.S. publicly-traded companies. Learn more about Peoples at www.peoplesbancorp.com

 

View original content:https://www.prnewswire.com/news-releases/peoples-bancorp-inc-elects-new-director-301755683.html

SOURCE Peoples Bancorp Inc.

FAQ

Who is Dwight Smith and what is his role in Peoples Bancorp?

Dwight Smith is the newly elected member of the Board of Directors for Peoples Bancorp, bringing extensive experience in information technology and entrepreneurship.

What experience does Dwight Smith have?

Smith has over 43 years in the information technology industry, including founding and leading Sophisticated Systems, and has served on various corporate and non-profit boards.

What is the significance of Dwight Smith's election to the board?

His election is expected to provide valuable insights and a fresh perspective as Peoples Bancorp continues to grow in the financial sector.

When was Dwight Smith elected to the Peoples Bancorp Board?

Dwight Smith was elected to the Board on February 24, 2023.

How does Peoples Bancorp's financial position look?

As of December 31, 2022, Peoples Bancorp reported total assets of $7.2 billion and operates 130 locations.