Peoples Bancorp Reports Earnings

Share Name	Share Symbol	Market	Type
Peoples Bancorp (MM)	NASDAQ:PFDC	NASDAQ	Common Stock

Peoples Bancorp (MM) (NASDAQ:PFDC)
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Peoples Bancorp (NASDAQ:PFDC) reported net income for the fiscal year ended September 30, 2006, of $3,252,406 verses the previous year�s income of $4,129,607. Fiscal 2006 earnings per diluted share were $0.98 per share compared to $1.22 per share for the year ended September 30, 2005. Maurice F Winkler, III, President of Peoples Bancorp, stated �Although these results are below the earnings from last year, they were achieved in an uncertain environment. The year was marked with increasing unemployment rates, unsettled interest rates, a flat yield curve, and a slowing economy. The fact that Peoples Bancorp was able to achieve these results during this challenging period is a testament to our dedicated staff, who work for our shareholders and customers every day.� Peoples recorded some notable improvements during 2006. Despite the slow down in the local real estate market, Peoples was able to increase the loan portfolio to 371 million, an increase of over 15 million from fiscal 2005. Despite the increase in loans, non-accrual loan fell from $1,042,000 at September 30, 2005 to $565,000 at September 30, 2006. Deposits also increased during the year. At September 30, 2006, deposits totaled 376 million, an increase of over 15 million from fiscal 2005. On September 30, 2006, stockholders equity was $62,775,216 with a capital to assets ratio of 12.52% and a book value of $19.57. Peoples had 3,206,969 shares of stock outstanding as of September 30, 2006. The closing price of Peoples Bancorp stock as of November 29, 2006, was $19.70 per share as listed on the NASDAQ National Marketing System under the symbol PFDC. Peoples Bancorp, through its Indiana subsidiary, Peoples Federal Savings Bank, operates nine full-service offices located in Auburn, Avilla, LaGrange, Garrett, Kendallville, Waterloo, Topeka, and two in Columbia City, Indiana. Peoples Bancorp�s Michigan subsidiary, First Savings Bank, operates six full service offices located in Three Rivers (two offices), Schoolcraft, and Union in Michigan, and Howe and Middlebury in Indiana. SELECTED CONSOLIDATED FINANCIAL DATA OF THE COMPANY � September 30 2006� 2005� 2004� Financial Condition Data: Total assets $ 501,353,713� $ 488,617,542� $ 491,445,300� Loans receivable including loans held for sale, net 371,662,679� 355,854,443� 360,454,908� Investments and other interest-earning assets 103,824,113� 106,786,121� 109,254,698� Deposits 375,848,729� 360,243,356� 370,824,854� Borrowed funds 59,672,791� 60,131,225� 53,421,460� Stockholders' equity 62,775,216� 65,184,382� 64,991,560� � For Year Ended September 30 2006� 2005� 2004� Operating Data: Interest income $ 28,310,432� $ 26,949,339� $ 26,866,634� Interest expense 12,927,583� 10,463,071� 10,335,942� Net interest income 15,382,849� 16,486,268� 16,530,692� Provision for losses on loans 56,065� 67,144� 40,374� Net interest income after provision for losses on loans � 15,326,784� 16,419,124� 16,490,318� Other income 2,285,030� 2,033,744� 1,646,944� Other expenses 12,822,056� 12,134,978� 11,411,108� Income before income taxes 4,789,758� 6,317,890� 6,726,154� Income tax expense 1,537,352� 2,188,283� 1,991,957� Net income $ 3,252,406� $ 4,129,607� $ 4,734,197� � Basic earnings per share $0.99� $1.23� $1.40� � Diluted earnings per share $0.98� $1.22� $1.39� � Dividends per common share $0.76� $0.73� $0.69� � Other Data: Average yield on interest-earning assets 5.99% 5.74% 5.68% Average cost of interest-bearing liabilities 3.09� 2.44� 2.39� Interest rate spread 2.90% 3.30% 3.29% � Number of full service banking offices 15� 15� 15� Return on assets (net income divided by average total assets) 0.65% 0.84% 0.95% Return on equity (net income divided by average total equity) 5.06% 6.31% 7.41% Dividend payout ratio (dividends per common share divided by basic net income per common share) 76.77% 59.34% 49.29% Equity to assets ratio (average total equity divided by average total assets) 12.90% 13.25% 12.87% Peoples Bancorp (NASDAQ:PFDC) reported net income for the fiscal year ended September 30, 2006, of $3,252,406 verses the previous year's income of $4,129,607. Fiscal 2006 earnings per diluted share were $0.98 per share compared to $1.22 per share for the year ended September 30, 2005. Maurice F Winkler, III, President of Peoples Bancorp, stated "Although these results are below the earnings from last year, they were achieved in an uncertain environment. The year was marked with increasing unemployment rates, unsettled interest rates, a flat yield curve, and a slowing economy. The fact that Peoples Bancorp was able to achieve these results during this challenging period is a testament to our dedicated staff, who work for our shareholders and customers every day." Peoples recorded some notable improvements during 2006. Despite the slow down in the local real estate market, Peoples was able to increase the loan portfolio to 371 million, an increase of over 15 million from fiscal 2005. Despite the increase in loans, non-accrual loan fell from $1,042,000 at September 30, 2005 to $565,000 at September 30, 2006. Deposits also increased during the year. At September 30, 2006, deposits totaled 376 million, an increase of over 15 million from fiscal 2005. On September 30, 2006, stockholders equity was $62,775,216 with a capital to assets ratio of 12.52% and a book value of $19.57. Peoples had 3,206,969 shares of stock outstanding as of September 30, 2006. The closing price of Peoples Bancorp stock as of November 29, 2006, was $19.70 per share as listed on the NASDAQ National Marketing System under the symbol PFDC. Peoples Bancorp, through its Indiana subsidiary, Peoples Federal Savings Bank, operates nine full-service offices located in Auburn, Avilla, LaGrange, Garrett, Kendallville, Waterloo, Topeka, and two in Columbia City, Indiana. Peoples Bancorp's Michigan subsidiary, First Savings Bank, operates six full service offices located in Three Rivers (two offices), Schoolcraft, and Union in Michigan, and Howe and Middlebury in Indiana. -0- *T SELECTED CONSOLIDATED FINANCIAL DATA OF THE COMPANY September 30 ----------------------------------------- 2006 2005 2004 ------------- ------------- ------------- Financial Condition Data: Total assets $501,353,713 $488,617,542 $491,445,300 Loans receivable including loans held for sale, net 371,662,679 355,854,443 360,454,908 Investments and other interest-earning assets 103,824,113 106,786,121 109,254,698 Deposits 375,848,729 360,243,356 370,824,854 Borrowed funds 59,672,791 60,131,225 53,421,460 Stockholders' equity 62,775,216 65,184,382 64,991,560 For Year Ended September 30 ----------------------------------------- 2006 2005 2004 ------------- ------------- ------------- Operating Data: Interest income $28,310,432 $26,949,339 $26,866,634 Interest expense 12,927,583 10,463,071 10,335,942 ------------- ------------- ------------- Net interest income 15,382,849 16,486,268 16,530,692 Provision for losses on loans 56,065 67,144 40,374 ------------- ------------- ------------- Net interest income after provision for losses on loans 15,326,784 16,419,124 16,490,318 Other income 2,285,030 2,033,744 1,646,944 Other expenses 12,822,056 12,134,978 11,411,108 ------------- ------------- ------------- Income before income taxes 4,789,758 6,317,890 6,726,154 Income tax expense 1,537,352 2,188,283 1,991,957 ------------- ------------- ------------- Net income $3,252,406 $4,129,607 $4,734,197 ============= ============= ============= Basic earnings per share $0.99 $1.23 $1.40 ============= ============= ============= Diluted earnings per share $0.98 $1.22 $1.39 ============= ============= ============= Dividends per common share $0.76 $0.73 $0.69 ============= ============= ============= Other Data: Average yield on interest- earning assets 5.99% 5.74% 5.68% Average cost of interest- bearing liabilities 3.09 2.44 2.39 ------------- ------------- ------------- Interest rate spread 2.90% 3.30% 3.29% ============= ============= ============= Number of full service banking offices 15 15 15 Return on assets (net income divided by average total assets) 0.65% 0.84% 0.95% Return on equity (net income divided by average total equity) 5.06% 6.31% 7.41% Dividend payout ratio (dividends per common share divided by basic net income per common share) 76.77% 59.34% 49.29% Equity to assets ratio (average total equity divided by average total assets) 12.90% 13.25% 12.87% *T

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PFDC Peoples Bancorp (MM)