A regional version of **PNC Bank**.

Like **U.S. Bank** for the Ohio Valley and Mid-Atlantic regions.

A full-service regional financial institution, similar to a scaled-down **Truist**.

Here are the major products and services offered by Peoples Bancorp Inc. (PEBO):

• Deposit Accounts: Provides various deposit products including demand deposit accounts, savings accounts, money market accounts, and certificates of deposit.
• Loan Products: Offers a comprehensive range of loans such as commercial and industrial, commercial real estate, construction, residential real estate, consumer, home equity lines of credit, and overdrafts.
• Card Services: Issues debit, ATM, and credit cards for individuals and businesses.
• Insurance Services: Provides life, health, and property and casualty insurance products, alongside third-party insurance administration and premium financing.
• Leasing and Equipment Financing: Offers commercial and technology equipment leasing, underwriting, origination, and servicing of equipment leases and financing agreements.
• Fiduciary and Trust Services: Delivers fiduciary, trust, asset management, and administration services.
• Employee Benefit Administration: Administers employee benefit, retirement, and health care plans.
• Payment Processing: Facilitates merchant credit card transaction processing and person-to-person payments.
• Brokerage Services: Provides access to brokerage services through unaffiliated registered broker-dealers.

Major Customers of Peoples Bancorp (PEBO)

Peoples Bancorp Inc. serves a diversified customer base, providing both commercial and retail banking products and services. As a financial institution, its customer base is generally broad and fragmented rather than concentrated among a few major named entities. Therefore, its customers can be categorized into the following segments:

• Individual Consumers: This category includes individuals and households who utilize personal banking services such as demand deposit accounts, savings accounts, money market accounts, certificates of deposit, residential real estate loans, consumer direct and indirect loans, home equity lines of credit, personal credit cards, debit/ATM cards, and personal insurance products.
• Small to Mid-Sized Businesses (SMEs): This segment comprises companies that require commercial banking services like commercial and industrial loans, commercial real estate loans, construction financing, business checking and deposit accounts, business credit cards, merchant credit card transaction processing, and commercial insurance products.
• Commercial and Institutional Clients: This category encompasses larger businesses and various institutions seeking more specialized financial services, including complex commercial real estate financing, equipment leasing, fiduciary and trust services, asset management and administration services, and employee benefit, retirement, and health care plan administration services.

• Fiserv, Inc. (FI)
• Visa Inc. (V)

Tyler Wilcox, President and Chief Executive Officer

Tyler Wilcox was appointed President and Chief Executive Officer of both Peoples Bancorp Inc. and Peoples Bank in April 2024. He previously served as Senior Executive Vice President, Chief Operating Officer from July 2023 to March 2024, and Executive Vice President, Community Banking from October 2020 to June 2023. His other roles at Peoples Bank include Executive Vice President, Regional President of the South Region from January 2019 to September 2020, and President of Peoples Insurance Agency from October 2015 to December 2018. Mr. Wilcox initially joined Peoples Bank in August 2008 as Associate Counsel. Prior to his tenure at Peoples, he practiced law as an Assistant City Attorney for the City of Columbus, Ohio, from January 2005 to August 2008.

Kathryn M. Bailey, Executive Vice President, Chief Financial Officer and Treasurer

Kathryn M. Bailey has served as Executive Vice President, Chief Financial Officer and Treasurer of both Peoples Bancorp Inc. and Peoples Bank since October 2020. She joined Peoples in May 2011 as SEC Reporting Manager for Peoples Bank. Subsequently, she was promoted to Controller and Vice President, Controller in June 2012, Senior Vice President, Controller in October 2015, and Senior Vice President, Director of Finance in January 2019. Before joining Peoples, Ms. Bailey gained experience in public accounting with PricewaterhouseCoopers LLP in Cleveland, Ohio, from September 2006 to May 2011. She is a Certified Public Accountant and holds a Bachelor of Arts degree in Accounting from Marietta College and a Master of Accounting degree from The Ohio State University.

Ron J. Majka, Executive Vice President, Chief Commercial Banking Officer

Ron J. Majka was appointed Executive Vice President, Chief Commercial Banking Officer, effective April 4, 2026. He joined Peoples Bank in September 2025 as Executive Vice President – Commercial Banking as part of the company's succession planning process. Mr. Majka brings nearly 30 years of experience in the financial services industry, with an extensive background in commercial banking. Prior to Peoples Bank, he served as Head of Upper Middle Market Banking for Huntington National Bank in Cleveland, Ohio, from January 2022, where he led commercial business development and market expansion across eight Midwest states. His previous roles include Head of Loan Syndications at Huntington (2017-2021) and FirstMerit Bank (2011-2017). From 2008 to 2011, Mr. Majka was Senior Vice President and Head of Commercial Banking for Liberty Bank. He also held various commercial banking and capital markets roles at National City Bank in Cleveland from 1996 to 2008.

Mark J. Augenstein, Executive Vice President, Operations

Mark J. Augenstein has served as Executive Vice President, Operations of both Peoples Bancorp Inc. and Peoples Bank since October 2020. He has been employed by Peoples Bank since September 2001. His previous positions at Peoples Bank include Senior Vice President, Operations from July 2012 to September 2020, and Vice President, Operations from May 2007 to June 2012.

Matthew M. Edgell, Executive Vice President, Chief of Staff

Matthew M. Edgell serves as Executive Vice President, Chief of Staff of both Peoples Bancorp Inc. and Peoples Bank, a position he has held since January 2023. He has also served as a Director and as President and Treasurer of Peoples Investment Company since 2016. His prior roles at Peoples Bank include Senior Vice President, Director of Finance (October 2020 - December 2022); Senior Vice President, Credit Administration Officer (August 2018 - September 2020); Senior Vice President, Director of Human Resources (October 2015 - July 2018); Senior Vice President, Director of Treasury (September 2010 - September 2015); Treasury Analyst (December 2008 - September 2010); and Professional Development Associate (September 2006 - December 2008). Before joining Peoples, Mr. Edgell was an Infantry Rifleman with the United States Marine Corps from 2000 to 2004.

Here are the key risks to Peoples Bancorp (PEBO):

1. Credit Risk: As a financial institution, Peoples Bancorp's profitability and financial health are significantly exposed to the risk of loan defaults across its diverse loan portfolio, which includes commercial and industrial, commercial real estate, construction, residential real estate, and various consumer loans. Economic downturns, either nationally or within the specific regional markets it serves (Ohio, West Virginia, Kentucky, Virginia, Washington, D.C., and Maryland), could lead to increased loan losses, impairing asset quality and capital.
2. Interest Rate Risk: Peoples Bancorp's net interest income, the primary component of its earnings, is highly sensitive to changes in interest rates. Unfavorable shifts in interest rates, such as an environment where the cost of funding (e.g., deposit rates) increases more rapidly than the yields earned on its interest-earning assets (e.g., loans and investments), could lead to a compression of its net interest margin and reduced profitability.
3. Regulatory and Compliance Risk: The banking industry is subject to extensive and evolving federal and state regulations. Peoples Bancorp faces the risk of increased compliance costs, operational restrictions, and potential fines or penalties due to changes in banking laws, regulations (such as those related to capital adequacy, consumer protection, data privacy, and anti-money laundering), or failure to comply with existing regulatory requirements.

The rise of digital-only banks (neobanks) and specialized fintech platforms presents an emerging threat to Peoples Bancorp. These entities operate with significantly lower overheads, bypassing the need for extensive physical branch networks, which allows them to offer more competitive interest rates on deposits and loans, and lower or no fees. Their mobile-first and seamless digital user experiences can attract customers, particularly younger demographics, who prioritize convenience and digital interaction over traditional branch banking. This shift directly threatens Peoples Bancorp's deposit acquisition and its ability to attract new lending clients across its commercial, residential, and consumer loan portfolios. Furthermore, fintech disruptors specializing in areas like wealth management (robo-advisors) or specific lending products (e.g., online small business lenders) can unbundle banking services, directly competing with Peoples Bancorp's offerings in asset management, trust services, and various lending segments by providing faster, more agile, and often more cost-effective digital solutions.

Peoples Bancorp (symbol: PEBO) operates in various financial services markets across Ohio, West Virginia, Kentucky, Virginia, Washington, D.C., and Maryland. The addressable market sizes for its main products and services, primarily within the United States, are detailed below:

• Retail Banking: The U.S. retail banking market was estimated at USD 0.87 trillion in 2025 and is projected to reach USD 1.08 trillion by 2030.

• Commercial Banking: The U.S. commercial banking market size is estimated at USD 765.53 billion in 2026, with projections to grow to USD 954.48 billion by 2031.

• Life Insurance: The United States Life Insurance Market was valued at USD 784.13 billion in 2024 and is anticipated to grow to USD 1,167.34 billion by 2030.

• Health Insurance: The U.S. group health insurance market size was estimated at USD 1.41 trillion in 2024.

• Property & Casualty Insurance: The U.S. Property and Casualty Insurance Market is valued at USD 1.14 trillion in 2026 and is projected to grow to USD 1.39 trillion by 2031.

• Equipment Leasing: The equipment leasing and finance industry in the United States reached a record high of USD 1.34 trillion in 2023.

• Asset Management: The United States Assets Under Management (AUM) market is valued at approximately USD 140 trillion. (This figure represents the total value of assets managed, not revenue generated).

• Credit Cards: The U.S. credit card market size stood at USD 190 billion in 2024 and is expected to grow to USD 388.4 billion by 2032.

• Merchant Acquiring: The U.S. merchant acquiring market size is estimated at USD 24 billion in 2025.

Peoples Bancorp (PEBO) is expected to drive future revenue growth over the next two to three years through several key strategies:

1. Sustained Organic Loan Growth: Peoples Bancorp anticipates continued expansion in its loan portfolio, particularly within commercial and industrial (C&I), owner-occupied commercial real estate (CRE), and equipment finance sectors. The company achieved 6% loan growth for the full year 2025 and projects loan growth between 3% and 5% for 2026. Management targets mid-single-digit annualized loan growth through 2026, with an emphasis on these higher-yielding segments and high-quality residential mortgages.
2. Growth in Diversified Fee-Based Income: The company is focused on increasing its non-interest income through various channels. For the full year 2025, fee-based income improved by 6% year-over-year, driven largely by increases in lease income and trust and investment income. Peoples Bancorp expects fee-based income to be between $28 million and $30 million quarterly. Future growth in this area is also targeted through the expansion of priority products such as treasury management, SBA/USDA lending, and further development of equipment finance.
3. Strategic Mergers & Acquisitions (M&A) and Market Expansion: Peoples Bancorp has a history of strategic acquisitions, such as the Limestone Bancorp deal which expanded its presence in Louisville, and plans to continue this approach. The company aims to pursue in-footprint bank acquisitions to enhance its geographical reach and service offerings. Peoples Bancorp also indicates an interest in fintech partnerships to accelerate deposit gathering and diversify fee income, while maintaining disciplined expansion within its existing footprint. The company anticipates crossing $10 billion in assets by 2027, with a focus on organic growth, though acquisitions could accelerate this.
4. Technological Innovation and Digital Transformation: Peoples Bancorp is investing in digital upgrades and technology to enhance operational efficiency and improve customer experience. This strategic focus aims to modernize infrastructure, leverage data-driven insights, and strengthen digital platforms for customer interactions. These efforts are expected to support customer acquisition and retention, thereby indirectly contributing to revenue growth.

Share Repurchases

• On February 27, 2020, Peoples Bancorp authorized a new share repurchase program for up to $40 million, replacing a previous $20 million authorization.
• By January 28, 2021, $28.4 million had been repurchased under the $40 million program, and a subsequent program authorizing up to $30 million of outstanding common shares was approved.
• The company repurchased $7.4 million in common shares in 2022 and $3.0 million in 2023 under ongoing programs.

Share Issuance

• In 2021, Peoples Bancorp issued $261.9 million in common shares as part of the acquisition of Premier Financial Bancorp, Inc.
• This all-stock transaction involved Premier Financial shareholders receiving 0.58 shares of Peoples common stock for each of their shares.
• The number of outstanding shares for Peoples Bancorp increased significantly by 44.76% in 2021 and 24.97% in 2023, likely due to acquisitions.

Outbound Investments

• Peoples Bancorp completed the acquisition of Premier Financial Bancorp, Inc. in September 2021, in an all-stock deal valued at approximately $292.3 million based on the stock price at the time of the agreement.
• In February 2022, Peoples Bancorp acquired Vantage Financial for $54 million.
• Peoples Bancorp acquired Limestone Bank in October 2022.

Capital Expenditures

• Capital expenditures were approximately -$13.46 million in 2021, -$6.75 million in 2022, -$6.69 million in 2023, and -$4.30 million in 2024.
• The company is making proactive investments in digital banking and automation to enhance operational efficiency.
• A primary focus of capital expenditures is on data provision and data warehousing to support growth and increased system sophistication, alongside investments in new talent and specialty business areas.