Filed by: Peoples Bancorp Inc.
Pursurant to Rule 425 under the Securities Act of 1933
Subject Company: The Lower Salem Commercial Bank
(Registration No. 333-81251)
NEWS RELEASE
FOR IMMEDIATE RELEASE Contact: John W. Conlon, Chief Financial Officer
--------------------------- (740) 374-3155
January 12, 2001
PEOPLES BANCORP AUTHORIZES
REPURCHASE OF COMMON STOCK
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2000 earnings results to be released January 22; Annual Meeting date set
MARIETTA, Ohio - The Board of Directors of Peoples Bancorp Inc.
(Nasdaq: PEBO) yesterday adopted a resolution authorizing the repurchase of up
to 125,000 shares (or approximately 2% of the Company's outstanding common
shares) from time to time in open market or privately negotiated transactions.
The timing of the purchases and the actual number of common shares purchased
will depend on market conditions. This stock repurchase program will be
implemented at the Company's discretion and will expire December 31, 2001.
"We believe Peoples Bancorp shares represent an excellent value,"
stated Robert E. Evans, President and CEO of Peoples Bancorp. "The new
repurchase program reflects our continued commitment to enhance shareholder
value and effectively manage our capital levels."
In addition, the Company intends to continue the previously announced
quarterly purchase of 18,150 treasury shares for issuance in connection with
Peoples Bancorp's stock option plans. The continuation of the quarterly
repurchase program may be amended or eliminated in the future.
Peoples Bancorp will release its 2000 earnings statement January 22,
2001, at approximately 1:00 pm local time. Peoples Bancorp will hold a
conference call to discuss 2000 results of operations January 24, 2001, at 3:00
pm. The conference call is open to the public and management asks that questions
be limited to investment analysts, investors, and members of the media. To
participate in the call, please dial 1-800-394-0105 approximately 10 minutes
before the scheduled start of the conference call. The passcode for the call is
36190 followed by the pound sign. Members of Peoples Bancorp's executive
management will participate in the conference call. Brief opening remarks will
be followed by a question and answer period. A transcript of the discussion will
be placed on Peoples Bancorp's web site at www.peoplesbancorp.com - click on
"Investor Relations", then "Conference Call Transcripts".
In other events, Peoples Bancorp's Board of Directors announced that
the 2001 Annual Meeting of Shareholders will be April 12, 2001, at 10:30 A.M.,
in the Ball Room of the Holiday Inn on Newport Pike (Interstate 77, Exit 1) in
Marietta, Ohio. The Proxy, 2000 Annual Report, Proxy Statement and other
necessary documents will be mailed on or about March 9, 2001, to Stockholders of
record as of February 15, 2001.
Peoples Bancorp is a diversified financial services company with $1.1
billion in assets. The Company's lead subsidiary is Peoples Bank, which offers
complete banking products and services through 39 financial service locations
and 26 ATM's in the states of Ohio, West Virginia, and Kentucky. Peoples Bank
also makes available other financial services via Peoples Investments, which
provides client-tailored solutions for fiduciary needs, investment alternatives,
and other asset management needs (securities are offered exclusively through
Raymond James Financial Services, member NASD/SIPC, an independent broker/dealer
located at Peoples Bank). Peoples Insurance Agency provides a full set of life,
property and casualty insurance products and services. Peoples Bancorp's common
stock is traded through the Nasdaq National Market System under the symbol PEBO.
Learn more about Peoples Bancorp or enroll in Peoples OnLine Connection internet
banking service at www.peoplesbancorp.com.
END OF RELEASE
