For Immediate Release
OTCQB Symbol: PBNI
Contact: Maurice F. Winkler, III
Auburn, Indiana (April 16, 2013)- Peoples Bancorp reported net income for the second quarter ended March 31, 2013, of $565,042 versus the same quarter last year income of $687,335. Second quarter earnings were $0.24 per share compared to $0.28 per share for the same period one year ago.
Maurice F. Winkler, President of Peoples Bancorp, indicated “Although net interest margin was down from the same quarter a year ago, we did see a small increase from the previous quarter. Obviously, we hope that is the beginning of a new trend. Non-interest income was down because of fewer gains being taken on the sale of investment securities and mortgage loans compared to the quarter that ended March 31, 2012. Loan balances were down from the previous quarter end, but are still up significantly from our previous fiscal year end. Non-interest expenses decreased largely due to lower expenses associated with real estate owned and lower compensation costs.”
Peoples reported assets on March 31, 2013, of $470,991,440, a decrease of $13.3 million from September 30, 2012. Peoples’ deposit balances increased $2.1 million during the six month period ending March 31, 2013 to $361,441,818. The Company’s borrowings decreased by $14.1 million to $42,632,200 million during the six months ending March 31, 2013.
Peoples had 2,371,025 shares of stock outstanding as of March 31, 2013, and the closing price of Peoples Bancorp stock as of April 15, 2013, was $20.50 per share as listed on the OTCQB System under the symbol PBNI. At March 31, 2013, Peoples had stockholders equity of $62,403,319, a capital to assets ratio of 13.25%, and a book value of $26.32.
Peoples Bancorp, through its subsidiary, Peoples Federal Savings Bank, operates fifteen full-service offices located in Auburn, Avilla, LaGrange, Garrett, Kendallville, Topeka, Waterloo, Howe, Middlebury, and two in Columbia City, Indiana; and Three Rivers (two offices), Schoolcraft, and Union in Michigan.