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Peoples Bank, A Codorus Valley Company

Glen Rock, PA · Cert 13879

FDIC · 29 branches

Q2 2024

$2.2BAssets
$1.7BLoans
$2.0BDeposits
$233.5MEquity
Loan mix
88%RE $1.1B11%C&I $0.1B1%Consumer $0.0BQ2 2023Q2 2024
Deposit mix
80%Interest-bearing $1.6B20%Noninterest $0.4BQ2 2023Q2 2024

NIM

3.12%Q2 ’224.92%Q2 ’235.34%Q2 ’24+29%-14%

Non-interest income vs. expense

2.44%Q2 ’222.71%Q2 ’233.39%Q2 ’24+8%+37%

Market Position · York-Hanover, PA · 2024 SOD (annual) · 15.3% share · #2 of 16 inst. · $1.5B of $9.8B

15.3% York
0.9% Baltimore
0.8% Lancaster
1.7% Harford

Executive Summary

  • Earnings: ROA of 0.53%, down 83 bps year over year; NIM at 3.23%.
  • Asset quality: problem loans at 0.51% of loans (-16 bps YoY), with net charge-offs at 0.06%.
  • Capital: tier 1 leverage ratio of 11.83%, up 20 bps from a year ago.
  • Funding: loans stand at 88.78% of deposits as of Q2 2024.

Financial Results

Return on Assets (YTD, annualized)

0.53%-83 bps YoY

Net Interest Margin (YTD, annualized)

3.23%-54 bps YoY

Efficiency Ratio (YTD, annualized)

84.95%+2,552 bps YoY

Tier 1 Leverage Ratio

11.83%+20 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2023Q3 2023Q4 2023Q1 2024Q2 2024YoY ΔTrend
Earnings
Return on Assets1.36%1.31%1.29%0.91%0.53%-83 bps
Return on Equity13.66%13.08%12.73%8.49%5.00%-866 bps
Net Interest Margin3.77%3.69%3.67%3.26%3.23%-54 bps
Efficiency Ratio59.43%61.21%62.70%71.12%84.95%+2,552 bps
Non-Interest Burden1.92%1.96%2.01%2.09%2.62%+70 bps
Growth
Asset Growth (YoY)-3.18%-3.01%-0.06%0.45%0.30%+348 bps
Loan Growth (YoY)6.08%6.60%4.50%5.60%3.19%-289 bps
Deposit Growth (YoY)-7.70%-5.51%-3.62%1.33%3.57%+1,127 bps
Asset Quality
Nonperforming Loans / Loans0.67%0.45%0.21%0.40%0.51%-16 bps
Net Charge-Offs / Loans0.17%0.06%0.05%-0.06%0.06%-12 bps
Allowance / Loans1.23%1.26%1.20%1.24%1.16%-7 bps
Allowance Coverage of NPLs1.8x2.8x5.7x3.1x2.3x+0.4x
Capital
Tier 1 Leverage Ratio11.63%11.75%11.98%11.97%11.83%+20 bps
Total Risk-Based Capital15.66%15.84%16.14%16.12%15.88%+22 bps
Equity / Assets10.07%10.08%10.79%10.74%10.52%+45 bps
Liquidity & Funding
Loans / Deposits89.10%89.28%90.91%90.59%88.78%-32 bps
Liquid Assets / Assets3.12%1.32%0.50%0.50%1.17%-195 bps
CRE / Total Capitaln/an/an/an/an/an/an/a