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EXHIBIT 99
NEWS RELEASE
FOR IMMEDIATE RELEASE Contact: John W. Conlon, Chief Financial Officer
---------------------------
July 20, 2000 (740) 373-3155
PEOPLES BANCORP INC. (Nasdaq: PEBO)
Supplemental Unaudited Financial Information for the period ended June 30, 2000
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The following sets forth selected unaudited financial data and other
operating information of Peoples Bancorp Inc. for the period ended June 30,
2000:
<TABLE>
<CAPTION>
BALANCE SHEET
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(dollars in thousands, except per share data) June 30, December 31,
2000 1999
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ASSETS
<S> <C> <C>
Cash and cash equivalents $ 27,992 $ 43,751
Available-for-sale investment securities, at estimated fair value 326,660 328,306
Loans, net of unearned interest 701,413 659,833
Allowance for loan losses (10,914) (10,264)
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Net loans 690,499 649,569
Bank premises and equipment, net 15,791 15,321
Goodwill 16,565 17,428
Other intangible assets 2,436 2,726
Other real estate owned 211 207
Other assets 21,198 18,142
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TOTAL ASSETS $ 1,101,352 $ 1,075,450
============= ==============
LIABILITIES
Non-interest bearing deposits $ 79,687 $ 83,267
Interest bearing deposits 650,215 644,940
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Total deposits 729,902 728,207
Federal funds purchased, securities sold under repurchase agreements, and
other short term borrowings 122,785 87,439
Long-term borrowings 138,674 150,338
Accrued expenses and other liabilities 8,108 7,606
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TOTAL LIABILITIES 999,469 973,590
Guaranteed preferred beneficial interests in junior subordinated debentures 29,003 28,986
STOCKHOLDERS' EQUITY
Common stock, no par value, 12,000,000 shares authorized, 6,666,859 shares
issued at June 30, 2000, and 6,387,509 shares issued at December 31, 1999 66,296 65,043
Accumulated comprehensive income, net of deferred income taxes (9,941) (7,654)
Retained earnings 19,566 26,241
Treasury stock, at cost, 139,767 shares at June 30, 2000, and 398,662 shares
at December 31, 1999 (3,041) (10,756)
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TOTAL STOCKHOLDERS' EQUITY 72,880 72,874
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TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,101,352 $ 1,075,450
============= ==============
</TABLE>
<PAGE>
PEOPLES BANCORP INC. (Nasdaq: PEBO)
Supplemental Unaudited Financial Information for the period ended June 30, 2000
- Page 2 of 3 -
<TABLE>
<CAPTION>
-------------------------------- -------------------------------
STATEMENTS OF INCOME Three Months Ended Six Months Ended
(dollars in thousands, except per share data) June 30, June 30,
2000 1999 2000 1999
----------- ----------- ----------- ----------
<S> <C> <C> <C> <C>
Interest income $ 20,924 $ 17,622 $ 41,036 $ 33,607
Interest expense 10,699 8,162 20,707 15,404
----------- ----------- ----------- ----------
Net interest income 10,225 9,460 20,329 18,203
Provision for loan losses 600 447 1,122 984
----------- ----------- ----------- ----------
Net interest income after provision for loan losses 9,625 9,013 19,207 17,219
Net (loss) gain on securities transactions (45) 1 (56) 1
Net (loss) gain on disposal of assets (140) (5) (145) (5)
Non-interest income:
Service charges on deposits 898 758 1,730 1,458
Trust revenues 628 613 1,326 1,279
Insurance commissions 330 115 443 243
Electronic banking revenues 310 254 592 494
Other non-interest income 67 75 270 185
----------- ----------- ----------- ----------
Total non-interest income 2,233 1,815 4,361 3,659
Non-interest expense:
Salaries and benefits expense 3,302 2,877 6,595 5,781
Occupancy and equipment expense 1,018 931 1,994 1,830
Amortization of intangibles 571 657 1,142 1,313
Other non-interest expense 2,903 2,610 5,617 4,386
----------- ----------- ----------- ----------
Total non-interest expense 7,794 7,075 15,348 13,310
----------- ----------- ----------- ----------
Income before income taxes 3,879 3,749 8,019 7,564
Income taxes 1,179 1,201 2,458 2,385
----------- ----------- ----------- ----------
Net income $ 2,700 $ 2,548 $ 5,561 $ 5,179
=========== =========== =========== ==========
Fully tax equivalent net interest income $ 10,473 $ 9,785 $ 20,834 $ 18,831
PER SHARE DATA Net income per share:
Basic $ 0.41 $ 0.37 $ 0.85 $ 0.75
Diluted 0.41 0.36 0.84 0.73
Cash basis earnings - diluted (a) 0.47 0.42 0.96 0.86
Dividends declared per share 0.14 0.13 0.28 0.24
Book value per share $ 11.17 $ 12.09 $ 11.17 $ 12.09
Weighted average shares outstanding:
Basic 6,515,837 6,910,065 6,520,208 6,928,517
Diluted 6,600,252 7,087,693 6,615,283 7,098,102
----------- ----------- ----------- -----------
<FN>
(a) Excludes after-tax impact of intangible amortization expense of intangible
assets acquired through use of purchase accounting for acquisitions.
</FN>
</TABLE>
<PAGE>
PEOPLES BANCORP INC. (Nasdaq: PEBO)
Supplemental Unaudited Financial Information for the period ended June 30, 2000
- Page 3 of 3 -
<TABLE>
<CAPTION>
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(dollars in thousands) Three Months Ended Six Months Ended
June 30, June 30,
2000 1999 2000 1999
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<S> <C> <C> <C> <C>
PERFORMANCE AND ASSET QUALITY RATIOS
Return on average equity 15.13% 11.90% 15.41% 12.01%
Cash basis return on average equity (a) 23.75% 18.56% 24.20% 18.74%
Return on average assets 1.00% 1.04% 1.04% 1.12%
Cash basis return on average assets (a) 1.17% 1.26% 1.21% 1.35%
Net interest margin (fully tax equivalent) 4.20% 4.35% 4.22% 4.45%
Efficiency ratio 56.62% 55.26% 56.38% 53.34%
Net loan chargeoffs as a percentage of average loans 0.05% 0.03% 0.07% 0.05%
Loans charged off $ 375 $ 319 $ 641 $ 574
Loan recoveries $ 60 $ 137 $ 168 $ 201
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Net loans charged off $ 315 $ 182 $ 473 $ 373
End of period:
Allowance for loan losses as a percentage of total loans 1.58% 1.70% 1.58% $ 1.70%
Nonperforming loans as a percentage of total loans (b) 0.33% 0.33% 0.33% $ 0.34%
Nonperforming assets as a percentage of total assets (c) 0.23% 0.22% 0.23% $ 0.22%
Nonperforming assets (end of period):
Loans 90+ days past due $ 304 $ 691 $ 304 $ 691
Renegotiated loans $ 573 $ 749 $ 573 $ 749
Nonaccrual loans $ 1,363 $ 528 $ 1,363 $ 528
Other real estate owned $ 211 $ 323 $ 211 $ 323
-------------- ------------- --------------- --------------
Total nonperforming assets $ 2,451 $ 2,291 $ 2,451 $ 2,291
AVERAGE BALANCES
Average gross loans $ 686,606 $ 587,808 $ 674,753 $ 579,169
Average earning assets $ 999,137 $ 899,365 $ 988,313 $ 848,805
Average total assets $ 1,078,382 $ 976,482 $ 1,067,579 $ 924,543
Average non-interest bearing deposits $ 82,588 $ 77,822 $ 81,456 $ 76,953
Average interest bearing deposits:
Savings $ 86,848 $ 98,323 $ 87,803 $ 98,374
Interest-bearing demand deposits $ 226,911 $ 199,088 $ 221,046 $ 201,984
Time deposits $ 338,448 $ 329,132 $ 342,290 $ 327,980
-------------- ------------- --------------- --------------
Average total interest bearing deposits $ 652,207 $ 626,543 $ 651,139 $ 628,338
Average stockholders' equity $ 71,510 $ 86,909 $ 72,175 $ 86,478
REGULATORY CAPITAL RATIOS (END OF PERIOD)
Tier 1 risk-based capital $ 91,427 $ 90,810 $ 91,427 $ 90,810
Tier 1 risk-based capital ratio 12.53% 15.56% 12.53% 15.56%
Total risk-based capital (Tier 1 and Tier 2) $ 102,901 $ 101,164 $ 102,901 $ 101,164
Total risk-based capital ratio (Tier 1 and Tier 2) 14.11% 13.97% 14.11% 13.97%
Total risk-based assets $ 729,490 $ 649,959 $ 729,490 $ 649,959
Tier 1 Leverage ratio 8.46% 9.54% 8.46% 9.54%
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<FN>
(a) Excludes after-tax impact of intangible amortization expense and removes
balance sheet effect of intangible assets acquired through use of purchase
accounting for acquisitions. (b) Nonperforming loans include loans 90 days past
due and accruing, renegotiated loans, and nonaccrual loans. (c) Nonperforming
assets include loans 90 days past due and accruing, renegotiated loans,
nonaccrual loans, and other real estate owned.
</FN>
END OF RELEASE
</TABLE>
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