Peoples Ltd. Announces Second Quarter Results

WYALUSING, Pa., July 23, 2026 /PRNewswire/ -- Peoples Ltd. (OTC: PPLL). Anthony J. Gabello, President and Chief Executive Officer of Peoples Ltd., holding company for PS Bank, has announced results for the second quarter 2026. Net income for the second quarter of 2026 was $3,410,000 or $1.87 per share. Net income for the second quarter of 2026 represents an increase of 52.73% from the second quarter 2025 net income of $2,232,000.

Consolidated net income year-to-date was $6,559,000 or $3.61 earnings per share, an increase of 52.51% from consolidated year-to-date income of $4,300,000 or $2.37 earnings per share for the first six months of 2025. 

Year-to-date return on assets was 1.97% as of June 30, 2026 compared to 1.46% for the same period in 2025. Year-to-date return on average equity was 19.20% as of June 30, 2026 compared to the prior year-to-date of 15.15%.

Total assets increased 5.28% to $675,777,000 from $641,890,000 as of December 31, 2025. Deposits increased 5.04% to $587,990,000 compared to $559,785,000 as of December 31, 2025. Total loans increased 3.82% from $425,085,000 year-end 2025 to $441,334,000 as of June 30, 2026. The bank's loans-to-deposits ratio is 75.05% at June 30, 2026.

"Our bank has performed well through the first half of 2026, with continued balance sheet and net income growth. We remain committed to effectively managing our balance sheet which has included loan growth, asset repricings, a strategic investment strategy, deposit growth, and controlled interest expense levels, which have more than offset increased personnel and other expenses through 2026 year-to-date. 

In the second quarter of 2026, we realized income of $358,000, net of tax, from the gain on redemption of a subordinated debt investment, which was a planned investment strategy when purchased. If this gain was excluded, year-to-date net income for 2026 would have increased 44.21% over 2025 same period to date. 

Our Scranton office, opened in March 2025, continues to have a positive impact on our performance as we continue to improve our performance in this market. Our indirect lending program recently passed its second full year and has been a positive contributor to the bank's performance as we prudently grow this program. 

In the first half of the year, we realized substantially increased return on assets and return on equity levels. We expect these benchmarks to continue to be strong but anticipate them to moderate over the remainder of the year. 

We strive to position our bank for continued success while we build the infrastructure necessary for sustained growth. As a community bank, we diligently work to do what we do best – banking for our communities.  As always, we remain focused on our customers, our communities, and our shareholders," stated Gabello.

Note: This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. These factors include operating, legal and regulatory risks; changing economic and competitive conditions and other risks and uncertainties.

Peoples Ltd. is the holding company for PS Bank. PS Bank is an independent community bank, established 1914, with locations throughout Bradford, Sullivan, Wyoming, Lackawanna, and Susquehanna counties. Peoples Ltd. is traded in the Over-the-Counter market under the symbol PPLL. Learn more about PS Bank at PSBanking.com.

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SOURCE Peoples Ltd.