Peoples Bancorp Net Interest Income Rises In Q1

(RTTNews) - Ohio-headquartered Peoples Bancorp Inc. (PEBO) on Tuesday reported higher net interest income for the first quarter ended March 31, 2024.

Net Income for the quarter stood at $29.6 million or $0.84 per share as compared with $26.6 million or 0.94 per share in the first quarter of 2023.

Adjusted net income for the period was $29.8 million as compared with $28.7 million in the prior-year period.

7 analysts polled by Thomson Reuters were expecting the company to report earnings of 0.8 per share. Analysts typically exclude one-time items.

Net interest income increased to $86.6 million, from $72.9 million in the quarter ended March 2023.

Non-interest income increased to $25.8 million, from $19.1 million in the quarter ended March 2023.

6 analysts polled by Thomson Reuters were expecting the company to report revenues of $109.74 million.