Peoples Bancorp (PEBO) reported third-quarter 2026 net income of $32.6 million, or $0.91 diluted EPS. Excluding a $4.5 million loss on investment securities and acquisition-related expenses, adjusted EPS was $1.04, above the $0.93 consensus. Net interest margin rose 8 basis points to 4.31%, while non-performing loans fell 11% to $36.6 million. The bank sold $58.5 million of securities at a $4.5 million loss to keep total assets below $10 billion. The Citizens merger is expected to add about $350 million in loans and $550 million in deposits in the fourth quarter, and the all-stock Capital Bancorp acquisition is valued at about $728.1 million. Management expects criticized and classified loans to rise in the fourth quarter as Citizens loans are onboarded, and noted slight delinquency increases in the indirect portfolio.
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