Peoples Bancorp (NASDAQ:PFDC) reported net income for the fiscal
year ended September 30, 2006, of $3,252,406 verses the previous
year�s income of $4,129,607. Fiscal 2006 earnings per diluted share
were $0.98 per share compared to $1.22 per share for the year ended
September 30, 2005. Maurice F Winkler, III, President of Peoples
Bancorp, stated �Although these results are below the earnings from
last year, they were achieved in an uncertain environment. The year
was marked with increasing unemployment rates, unsettled interest
rates, a flat yield curve, and a slowing economy. The fact that
Peoples Bancorp was able to achieve these results during this
challenging period is a testament to our dedicated staff, who work
for our shareholders and customers every day.� Peoples recorded
some notable improvements during 2006. Despite the slow down in the
local real estate market, Peoples was able to increase the loan
portfolio to 371 million, an increase of over 15 million from
fiscal 2005. Despite the increase in loans, non-accrual loan fell
from $1,042,000 at September 30, 2005 to $565,000 at September 30,
2006. Deposits also increased during the year. At September 30,
2006, deposits totaled 376 million, an increase of over 15 million
from fiscal 2005. On September 30, 2006, stockholders equity was
$62,775,216 with a capital to assets ratio of 12.52% and a book
value of $19.57. Peoples had 3,206,969 shares of stock outstanding
as of September 30, 2006. The closing price of Peoples Bancorp
stock as of November 29, 2006, was $19.70 per share as listed on
the NASDAQ National Marketing System under the symbol PFDC. Peoples
Bancorp, through its Indiana subsidiary, Peoples Federal Savings
Bank, operates nine full-service offices located in Auburn, Avilla,
LaGrange, Garrett, Kendallville, Waterloo, Topeka, 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 THE COMPANY � September 30 2006� 2005� 2004� Financial
Condition Data: Total assets $ 501,353,713� $ 488,617,542� $
491,445,300� Loans receivable including loans held for sale, net
371,662,679� 355,854,443� 360,454,908� Investments and other
interest-earning assets 103,824,113� 106,786,121� 109,254,698�
Deposits 375,848,729� 360,243,356� 370,824,854� Borrowed funds
59,672,791� 60,131,225� 53,421,460� Stockholders' equity
62,775,216� 65,184,382� 64,991,560� � For Year Ended September 30
2006� 2005� 2004� Operating Data: Interest income $ 28,310,432� $
26,949,339� $ 26,866,634� Interest expense 12,927,583� 10,463,071�
10,335,942� Net interest income 15,382,849� 16,486,268� 16,530,692�
Provision for losses on loans 56,065� 67,144� 40,374� Net interest
income after provision for losses on loans � 15,326,784�
16,419,124� 16,490,318� Other income 2,285,030� 2,033,744�
1,646,944� Other expenses 12,822,056� 12,134,978� 11,411,108�
Income before income taxes 4,789,758� 6,317,890� 6,726,154� Income
tax expense 1,537,352� 2,188,283� 1,991,957� Net income $
3,252,406� $ 4,129,607� $ 4,734,197� � Basic earnings per share
$0.99� $1.23� $1.40� � Diluted earnings per share $0.98� $1.22�
$1.39� � Dividends per common share $0.76� $0.73� $0.69� � Other
Data: Average yield on interest-earning assets 5.99% 5.74% 5.68%
Average cost of interest-bearing liabilities 3.09� 2.44� 2.39�
Interest rate spread 2.90% 3.30% 3.29% � Number of full service
banking offices 15� 15� 15� Return on assets (net income divided by
average total assets) 0.65% 0.84% 0.95% Return on equity (net
income divided by average total equity) 5.06% 6.31% 7.41% Dividend
payout ratio (dividends per common share divided by basic net
income per common share) 76.77% 59.34% 49.29% Equity to assets
ratio (average total equity divided by average total assets) 12.90%
13.25% 12.87% Peoples Bancorp (NASDAQ:PFDC) reported net income for
the fiscal year ended September 30, 2006, of $3,252,406 verses the
previous year's income of $4,129,607. Fiscal 2006 earnings per
diluted share were $0.98 per share compared to $1.22 per share for
the year ended September 30, 2005. Maurice F Winkler, III,
President of Peoples Bancorp, stated "Although these results are
below the earnings from last year, they were achieved in an
uncertain environment. The year was marked with increasing
unemployment rates, unsettled interest rates, a flat yield curve,
and a slowing economy. The fact that Peoples Bancorp was able to
achieve these results during this challenging period is a testament
to our dedicated staff, who work for our shareholders and customers
every day." Peoples recorded some notable improvements during 2006.
Despite the slow down in the local real estate market, Peoples was
able to increase the loan portfolio to 371 million, an increase of
over 15 million from fiscal 2005. Despite the increase in loans,
non-accrual loan fell from $1,042,000 at September 30, 2005 to
$565,000 at September 30, 2006. Deposits also increased during the
year. At September 30, 2006, deposits totaled 376 million, an
increase of over 15 million from fiscal 2005. On September 30,
2006, stockholders equity was $62,775,216 with a capital to assets
ratio of 12.52% and a book value of $19.57. Peoples had 3,206,969
shares of stock outstanding as of September 30, 2006. The closing
price of Peoples Bancorp stock as of November 29, 2006, was $19.70
per share as listed on the NASDAQ National Marketing System under
the symbol PFDC. Peoples Bancorp, through its Indiana subsidiary,
Peoples Federal Savings Bank, operates nine full-service offices
located in Auburn, Avilla, LaGrange, Garrett, Kendallville,
Waterloo, Topeka, 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. -0- *T SELECTED CONSOLIDATED FINANCIAL DATA OF THE COMPANY
September 30 ----------------------------------------- 2006 2005
2004 ------------- ------------- ------------- Financial Condition
Data: Total assets $501,353,713 $488,617,542 $491,445,300 Loans
receivable including loans held for sale, net 371,662,679
355,854,443 360,454,908 Investments and other interest-earning
assets 103,824,113 106,786,121 109,254,698 Deposits 375,848,729
360,243,356 370,824,854 Borrowed funds 59,672,791 60,131,225
53,421,460 Stockholders' equity 62,775,216 65,184,382 64,991,560
For Year Ended September 30
----------------------------------------- 2006 2005 2004
------------- ------------- ------------- Operating Data: Interest
income $28,310,432 $26,949,339 $26,866,634 Interest expense
12,927,583 10,463,071 10,335,942 ------------- -------------
------------- Net interest income 15,382,849 16,486,268 16,530,692
Provision for losses on loans 56,065 67,144 40,374 -------------
------------- ------------- Net interest income after provision for
losses on loans 15,326,784 16,419,124 16,490,318 Other income
2,285,030 2,033,744 1,646,944 Other expenses 12,822,056 12,134,978
11,411,108 ------------- ------------- ------------- Income before
income taxes 4,789,758 6,317,890 6,726,154 Income tax expense
1,537,352 2,188,283 1,991,957 ------------- -------------
------------- Net income $3,252,406 $4,129,607 $4,734,197
============= ============= ============= Basic earnings per share
$0.99 $1.23 $1.40 ============= ============= ============= Diluted
earnings per share $0.98 $1.22 $1.39 ============= =============
============= Dividends per common share $0.76 $0.73 $0.69
============= ============= ============= Other Data: Average yield
on interest- earning assets 5.99% 5.74% 5.68% Average cost of
interest- bearing liabilities 3.09 2.44 2.39 -------------
------------- ------------- Interest rate spread 2.90% 3.30% 3.29%
============= ============= ============= Number of full service
banking offices 15 15 15 Return on assets (net income divided by
average total assets) 0.65% 0.84% 0.95% Return on equity (net
income divided by average total equity) 5.06% 6.31% 7.41% Dividend
payout ratio (dividends per common share divided by basic net
income per common share) 76.77% 59.34% 49.29% Equity to assets
ratio (average total equity divided by average total assets) 12.90%
13.25% 12.87% *T
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