Peoples Bancorp (PEBO) Misses Q2 EPS by 6c

Peoples Bancorp (NASDAQ: PEBO) reported Q2 EPS of $0.14, $0.06 worse than the analyst estimate of $0.20.

"We continue to see results from the execution of our strategy to reduce expenses, which were overshadowed again for the quarter by another large provision for loan losses. The large provision for loan losses was the result of the one commercial loan relationship that had been evaluated throughout the year as the borrower's business continued to deteriorate, but is behind us now as our recorded investment in the loan is zero. The amount charged-off related to the relationship was in line with the amount previously reported on December 1, 2015," said Chuck Sulerzyski, President and Chief Executive Officer. "With respect to loans, we achieved our stated loan growth for the year of 7%, which given the large charge-off experienced during the quarter, and the slow start to 2015, was encouraging as we move into 2016."

For earnings history and earnings-related data on Peoples Bancorp (PEBO) click here.

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