Peoples Bancorp's 2024 Annual Report highlighted a year of significant achievements, including a record annual net income of $117 million. The company achieved a Return on Average Assets (ROAA) of 1.28% and maintained an efficiency ratio under 60%, demonstrating expense discipline. Total assets grew from $9.2 billion at year-end 2023 to $9.3 billion at year-end 2024.
The report detailed strategic advancements, such as the introduction of Interactive Teller Machines to 20 branches in 2024, expanding banking hours for clients. These operational enhancements are part of the company's ongoing efforts to leverage technology and improve client service as it prepares to surpass $10 billion in assets.
Leadership transitions were also noted, with long-standing board members Tara Abraham and Jim Huggins retiring in April. Tara Abraham served on the Board since 2012, and Jim Huggins, also a board member since 2012, served as Chairman of the Risk Committee since 2017. The report also acknowledged the retirement of former CEO Chuck Sulerzyski, with Tyler Wilcox having assumed the role of President and Chief Executive Officer.
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