Peoples Ltd. Announces Second Quarter Results

WYALUSING, Pa., July 24, 2025 /PRNewswire/ -- Peoples Ltd. (OTC:PPLL).  Anthony J. Gabello, President and Chief Executive Officer of Peoples Ltd., holding company for PS Bank, has announced results for the second quarter 2025.  Net income for the second quarter of 2025 was $2,232,000 or $1.29 per share.  Net income for the second quarter of 2025 represents an increase of 24.95% from the second quarter 2024 net income of $1,787,000.

Consolidated net income year-to-date was $4,300,000 or $2.49 earnings per share, an increase of 25.17% from consolidated year-to-date income of $3,436,000 or $1.99 earnings per share for the first six months of 2024.  Increased interest income from loan growth and loan repricings and controlled interest expense levels more than offset increases in salaries and operating expenses for the first half of the year. 

Year-to-date return on assets was 1.46% as of June 30, 2025 compared to 1.29% for the same period in 2024. Year-to-date return on average equity was 15.15% as of June 30, 2025 compared to the prior year-to-date of 14.09%.

Total assets increased 5.88% to $616,221,000 from $581,946,000 as of December 31, 2024. Deposits increased 5.89% to $540,735,000 compared to $510,640,000 as of December 31, 2024. Loans increased 7.09% from $379,388,000 year-end 2024 to $406,283,000 as of June 30, 2025. Increased commercial lending primarily accounted for the loan growth through the first half of the year.  The bank's loans-to-deposits ratio is 75.60% at June 30, 2025.

"Our bank continued its strong performance in the second quarter, with net income increasing 24.95% in the second quarter and 25.17% for the 2025 year to date.  The bank had solid balance sheet growth in the second quarter as both loans and deposits increased, and the bank crossed the $600 million level in total assets for the first time.  Our newly opened Keyser Village Office in Scranton has been favorably received by both new and existing customers, as we increase our presence in the Lackawanna County market.  In the second quarter we completed our two-for-one stock split, which was been positive for our shareholders.  We remain committed to doing what we do best – banking for our communities.  Our focus remains on our shareholders, our customers, and our communities," stated Gabello.

Note: This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. These factors include operating, legal and regulatory risks; changing economic and competitive conditions and other risks and uncertainties.

Peoples Ltd. is the holding company for PS Bank. PS Bank is an independent community bank, established 1914, with locations throughout Bradford, Sullivan, Wyoming, Lackawanna, and Susquehanna counties. Peoples Ltd. is traded in the Over-the-Counter market under the symbol PPLL. Learn more about PS Bank at PSBanking.com.

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SOURCE Peoples Ltd.