- Net income rose 25.46% year-over-year, reaching $2,068,000 in Q1 2025.
- Earnings per share increased to $2.40 from $1.91 in Q1 2024.
- Peoples Ltd. (PPLL, Financial) expanded with a new branch in Scranton, Lackawanna County.
Peoples Ltd. (OTC: PPLL) reported a robust financial performance for the first quarter of 2025, with consolidated net income rising by 25.46% to $2,068,000, compared to $1,649,000 in the same period last year. This translates to earnings per share of $2.40, up from $1.91 in Q1 2024. The impressive increase is attributed to higher net interest income driven by solid loan growth, favorable loan repricings, and controlled interest expenses.
The company's total assets grew by 2.89% to $598.77 million, while deposits also increased by 2.89% to $525.39 million. Net loans saw a significant rise of 5.38%, totaling $399.82 million. Return on assets improved to 1.43%, up from 1.25% in the prior year, and return on equity increased to 14.90% from 13.56%.
Peoples (PPLL, Financial) maintained a loans-to-deposits ratio of 77.15% and strategically expanded its market presence by opening a new branch in Scranton, Lackawanna County. This expansion aligns with their commitment to increasing accessibility to their banking services within the region.
Despite increased operating expenses from salaries and occupancy, the overall financial health of Peoples Ltd. remains strong, reflecting their focus on community-based banking and shareholder value. The new branch extension marks an exciting phase of growth for the bank as it continues to capitalize on its strong foundation and community relationships.
