WYALUSING, Pa., Oct. 29, 2026 /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 2026. Net income for the third quarter of 2026 was $3,323,000 or $1.82 per share. Net income for the third quarter of 2026 represents an increase of 10.33% from the third quarter 2025 net income of $3,012,000 or $1.66 per share. Net income from the third quarter 2025 includes income relating to proceeds from a life insurance policy of $553,000. Excluding these proceeds, net income for the third quarter 2026 represents an increase of 35.14% over third quarter 2025.
Consolidated net income year-to-date was $9,882,000 or $5.43 earnings per share, an increase of 35.10% from consolidated year-to-date income of $7,314,000 or $4.02 earnings per share for the nine months ended September 30, 2025. Net income for 2026 year-to-date represents a 46.16% increase from 2025 year-to -date net income excluding the life insurance proceeds noted previously.
Year-to-date return on assets was 1.96% as of September 30, 2026, compared to 1.63% for the same period in 2025. Year-to-date return on average equity was 19.07% as of September 30, 2026, compared to the prior year-to-date of 16.79%.
Total assets increased 7.38% to $689,232,000 from $641,890,000 as of December 31, 2025. Deposits increased 6.90% to $598,434,000 compared to $559,785,000 as of December 31, 2025. Total loans increased 11.05% from $425,085,000 year-end 2025 to $472,045,000 as of September 30, 2026.
"Our bank has continued to perform well through the first nine months of the year, headlined by strong earnings growth and solid balance sheet growth. Loan growth, asset repricings, a strategic investment strategy, deposit growth, and continued controlled expense levels have more than offset increases in personnel and other operating expenses.
Our Scranton office, opened in March 2025, continues to have a positive impact on our performance since its opening. We are also looking forward to opening a new location in Lackawanna County located at 100 Union Street, Taylor, PA. We are excited to bring our bank to Taylor and its surrounding communities, which will further enhance our Lackawanna County presence and continue the growth of our proud PS Bank brand. We anticipate opening this office in early 2027.
We are proud to announce that we were ranked as the #30 highest bank on American Banker's list of the Top 100 Community Banks under $2 billion in the United States, an increase of six spots from our prior year's ranking. We continue to be the highest ranked community bank on this list throughout the communities we serve. We are proud of the efforts of our entire team of PS Bankers in helping us to achieve this distinguished honor.
Finally, I'm pleased to announce that Peoples Ltd. recently began trading on OTCQX. Joining the OTCQX Market is an exciting new step as we continue to grow and connect with investors. This move supports our focus on creating lasting value for our shareholders while staying true to the community banking values and financial stability that have guided us for generations," 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.
SOURCE Peoples Ltd.
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