Peoples Ltd. Announces Third Quarter Results

WYALUSING, Pa., Oct. 23, 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 third quarter 2025. Net income for the third quarter of 2025 was $3,012,000 or $1.74 per share. Net income for the third quarter of 2025 represents an increase of 62.54% from the third quarter 2024 net income of $1,853,000. Net income from the third quarter 2025 includes income relating to proceeds from a life insurance policy of $553,000. Net income excluding the life insurance proceeds was $2,459,000 or $1.42 per share, which represents an increase of 32.70% from third quarter 2024.

Consolidated net income year-to-date was $7,314,000 or $4.23 earnings per share, an increase of 38.28% from consolidated year-to-date income of $5,289,000 or $3.06 earnings per share for the nine months ended September 30, 2024. Net income excluding the life insurance proceeds was $6,761,000 or $3.91 per share, which represents an increase of 27.83% from net income as of September 30, 2024.

Year-to-date return on assets was 1.63% as of September 30, 2025, compared to 1.31% for the same period in 2024. Year-to-date return on average equity was 16.79% as of September 30, 2025, compared to the prior year-to-date of 14.14%.

Total assets increased 8.15% to $629,405,000 from $581,946,000 as of December 31, 2024. Deposits increased 7.61% to $549,507,000 compared to $510,640,000 as of December 31, 2024. Loans increased 9.05% from $379,388,000 year-end 2024 to $413,732,000 as of September 30, 2025.

"Our bank produced strong results in the third quarter and has performed well year to date 2025. Improved net interest income levels from loan growth and asset repricings, as well as controlled interest expense levels, continued to more than offset increases in salaries and operating expenses throughout the year-to-date. While life insurance gains boosted our income in the third quarter, net income for the quarter still improved by 32.70% over prior year third quarter, excluding this gain. The bank had solid balance sheet growth in the third quarter and year-to-date, with growth in total assets, total loans, and total deposits. Our recently opened Keyser Village Office in Scranton has performed extremely well, exceeding our initial projections, and continues to grow our presence in this market. We remain committed to doing what we do best – providing superior banking services. 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.