Peoples Bancorp Inc. Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013
January 23, 2014 at 07:50 am EST
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Peoples Bancorp Inc. announced consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported interest income was $18,385,000 compared to $17,575,000 for the same period a year ago. Net interest income was $15,579,000 compared to $14,110,000 for the same period a year ago. Income before income taxes was $7,415,000 compared to $5,539,000 for the same period a year ago. Net income was $5,114,000 or $0.47 per diluted share compared to $3,874,000 or $0.36 per diluted share for the same period a year ago. The improvements in net interest income were largely attributable to the Ohio Commerce acquisition, coupled with meaningful organic loan growth during 2013. Book value per share was $20.89 compared to $21.02 for the same period a year ago. Return on average equity was 9.09% compared to 6.99% for the same period a year ago. Return on average assets was 1.01% compared to 0.82% for the same period a year ago.
For the full year, the company reported interest income was $67,071,000 compared to $69,470,000 for the same period a year ago. Net interest income was $55,385,000 compared to $54,475,000 for the same period a year ago. Income before income taxes was $29,084,000 compared to $29,910,000 for the same period a year ago. Net income was $17,574,000 or $1.63 per diluted share compared to $20,385,000 or $1.92 per diluted share for the same period a year ago. Book value per share was $20.89 compared to $21.02 for the same period a year ago. Return on average equity was 7.92% compared to 9.52% for the same period a year ago. Return on average assets was 0.91% compared to 1.11% for the same period a year ago.
Peoples Bancorp Inc. is a diversified financial services holding company. The Company provides a complete line of commercial and consumer banking, trust and investment, insurance, premium financing solutions, equipment leases and equipment financing agreements through its financial subsidiaries - Peoples Bank, Peoples Insurance and Vantage. These products and services include various demand deposit accounts, savings accounts, money market accounts, certificates of deposit and governmental deposits; home equity lines of credit, insurance premium financing; commercial equipment leasing; technology equipment leasing, and debit and automated teller machine (ATM) cards. Its financial products and services are offered through its financial service offices, ATMs, and interactive teller machines as well as through online resources that are Web-based and mobile-based. It has approximately 133 full-service bank branches in Ohio, Kentucky, West Virginia, Virginia, Washington D.C. and Maryland.