Peoples Bancorp Reports Earnings

  
    
  
  
    
      Peoples Bancorp (Nasdaq:PFDC) reported net income for the first quarter 
      ended December 31, 2006, of $800,436 verses the same quarter last year 
      income of $992,210. First Quarter earnings per share was $0.25 per share 
      compared to $0.30 per share for the same period one year ago.
    
    
      Peoples reported assets on December 31, 2006, of $500,137,477 a decrease 
      of 1.2 million from September 30, 2006. Loans decreased during the 
      quarter ended December 31, 2006 3.4 million to 368,303,998.
    
    
      Peoples had 3,185,670 shares of stock outstanding as of December 31, 
      2006, and the closing price of Peoples Bancorp stock as of January 22, 
      2007, was $19.60 per share as listed on the NASDAQ National Marketing 
      System under the symbol PFDC. At December 31, 2006, stockholders equity 
      was $62,757,555, capital to assets ratio of 12.55%, and a book value of 
      $19.70.
    
    
      Peoples Bancorp, through its Indiana subsidiary, Peoples Federal Savings 
      Bank, operates nine full-service offices located in Auburn, Avilla, 
      LaGrange, Garrett, Kendallville, Topeka, Waterloo, 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 PEOPLES BANCORP
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
          December 31,
        
        
        
        
          September 30,
        
        
        
        
          December 31,
        
      
      
        
        
        
          2006 
        
        
        
        
          2006 
        
        
        
        
          2005 
        
      
      
        
          Balance Sheet Data:
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          Total assets
        
        
          $500,137,477 
        
        
        
        
          $501,353,713 
        
        
        
        
          $492,259,852 
        
      
      
        
          Loans receivable including loans held for sale, net
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          368,303,998 
        
        
        
        
          371,662,679 
        
        
        
        
          360,494,122 
        
      
      
        
          Investments and other interest earning assets
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          109,417,659 
        
        
        
        
          108,170,326 
        
        
        
        
          109,723,095 
        
      
      
        
          Deposits
        
        
          366,670,894 
        
        
        
        
          375,848,729 
        
        
        
        
          362,190,132 
        
      
      
        
          Stockholder's equity
        
        
          62,757,555 
        
        
        
        
          62,775,216 
        
        
        
        
          64,886,997 
        
      
      
        
          Non-performing loans and REO
        
        
          2,359,000 
        
        
        
        
          2,500,000 
        
        
        
        
          2,267,000 
        
      
      
        
          Equity to assets ratio
        
        
          12.55%
        
        
        
        
          12.52%
        
        
        
        
          13.18%
        
      
      
        
          Book value per share
        
        
          $19.70 
        
        
        
        
          $19.57 
        
        
        
        
          $19.50 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
          Three Months Ended
        
        
        
        
        
      
      
        
        
        
          December 31,
        
        
        
        
        
      
      
        
        
        
          2006 
        
        
        
        
          2005 
        
        
        
        
        
      
      
        
          Operating Data:
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          Interest income
        
        
          $7,367,656 
        
        
        
        
          $6,923,629 
        
        
        
        
        
      
      
        
          Interest expense
        
        
          3,696,425 
        
        
        
        
          2,919,429 
        
        
        
        
        
      
      
        
          Net interest income
        
        
          $3,671,231 
        
        
        
        
          $4,004,200 
        
        
        
        
        
      
      
        
          Provision for losses on loans
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          3,695 
        
        
        
        
          43,803 
        
        
        
        
        
      
      
        
          Net interest income after provision for losses on loans
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          $3,667,536 
        
        
        
        
          $3,960,397 
        
        
        
        
        
      
      
        
          Other income
        
        
          526,079 
        
        
        
        
          749,134 
        
        
        
        
        
      
      
        
          Other expenses
        
        
          3,027,541 
        
        
        
        
          3,285,821 
        
        
        
        
        
      
      
        
          Income before income taxes
        
        
          1,166,074 
        
        
        
        
          1,423,710 
        
        
        
        
        
      
      
        
          Income tax expense
        
        
          365,638 
        
        
        
        
          431,500 
        
        
        
        
        
      
      
        
          Net income
        
        
          $800,436 
        
        
        
        
          $992,210 
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Basic income per common share
        
        
          $0.25 
        
        
        
        
          $0.30 
        
        
        
        
        
      
      
        
          Diluted income per common share
        
        
          $0.25 
        
        
        
        
          $0.30 
        
        
        
        
        
      
      
        
          Dividends per common share
        
        
          $0.19 
        
        
        
        
          $0.19 
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Other Data:
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          Average yield on all interest-earning assets
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          6.12%
        
        
        
        
          5.87%
        
        
        
        
        
      
      
        
          Average cost of all interest-bearing liabilities
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          3.48%
        
        
        
        
          2.76%
        
        
        
        
        
      
      
        
          Interest rate spread
        
        
          2.64%
        
        
        
        
          3.11%
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Return on assets (net income divided by average total assets)
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          0.64%
        
        
        
        
          0.81%
        
        
        
        
        
      
      
        
          Return on equity (net income divided by average total equity)
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          5.08%
        
        
        
        
          6.05%
        
        
        
        
        
      
      
        
          Dividend payout ratio (dividends per common share divided by net 
          income per common share)
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          76.00%
        
        
        
        
          63.33%