Peoples Bancorp Reports Q4 EPS of $.01

Peoples Bancorp Inc. PEBO today announced results for the quarter and year ended December 31, 2010. Net income available to common shareholders totaled $55,000 for the fourth quarter and $3.5 million for the year, representing earnings per diluted common share of $0.01 and $0.34, respectively. Provision for loan losses and other loan-related credit losses were higher than historical levels throughout 2010, which had an adverse impact on fourth quarter and 2010 earnings. In comparison, diluted earnings per common share were $0.07 and $0.22, respectively, for the same periods in 2009. In addition, Peoples reported that on January 24, 2011, it received notification from the U.S. Department of the Treasury that, after consultation with Peoples' Federal banking agency, it has granted Peoples' request for a partial redemption of the $39 million received under the TARP Capital Purchase Program. The actual redemption, which is expected to occur in early February 2011, will involve Peoples repurchasing $21 million of its outstanding preferred shares and will reduce the annual dividends on Peoples' preferred shares by $1.1 million.