Peoples Bancorp (PEBO), a diversified financial services holding company, has disclosed a 29.32 percent drop in earnings for the quarter ended Jun. 30, 2014. The company earned $3.48 million or $0.32 a share in the second quarter compared with $4.92 million or $0.46 a share, a year ago. Analysts on average had predicted net income of $0.38 a share.

Revenue during the second-quarter grew 15.17 percent to $25.76 million from $22.37 million in the last year period.

Net interest income for the quarter rose 21.97 percent over the prior year period to $16.04 million.

Non-interest income for the quarter rose 5.46 percent over the last year period to $9.72 million.

Peoples Bancorp has made provision of $0.58 million for loan losses during the quarter, as against recovery of $1.46 million in the same period last year.

''Our revenue growth remained positive for the quarter.  Loan growth provided much of the momentum with 11% annualized organic growth,'' said Chuck Sulerzyski, president and chief executive officer. ''We are pleased with our second quarter earnings, given the increase in costs incurred was largely a result of our strategic actions.  Our acquisition activity resulted in expenses during the quarter, and our continued loan growth resulted in increased provision for loan losses during the quarter, which we had not incurred since the third quarter of 2011.''

Total assets stood at $2163.89 million as on Jun. 30, 2014, up 13.90 percent compared with $1899.84 million on Jun. 30, 2013.

While total liabilities stood at $1919.62 million as on Jun. 30, 2014, up 13.90 percent from $1680.69 million on Jun. 30, 2013.

Net loans stood at $1301.97 million as on Jun. 30, 2014, up 28.51 percent compared with $1013.12 million on Jun. 30, 2013.

Deposits stood at $1660.92 million as on Jun. 30, 2014, up 15.68 percent compared with $1435.78 million on Jun. 30, 2013.

Equity capital of Peoples Bancorp increased 11.46 percent to $244.27 million as on Jun. 30, 2014 compared with $219.15 million on Jun. 30, 2013.