You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Zimmer's quarterly earnings up 16%
    Zimmer Holdings Inc. today reported second-quarter earnings of $176.5 million, or $1.03 per diluted common share, on net sales of $1.18 billion. That's a 16 percent increase from the $152.1 million, or 89 cents a share, on sales of $1.17 billion
  • GM quarterly profit falls 85% on recall costs
    DETROIT – Recall expenses chopped $1.5 billion from General Motors’ bottom line in the second quarter, as it added up the costs of repairs for nearly 30 million cars and set aside funds to compensate victims of small-car crashes.
  • China detains employees of suspect meat seller
    Five employees of a company accused of selling expired beef and chicken to McDonald’s, KFC and other restaurants in China were detained by police Wednesday after an official said illegal activity was an organized effort by the
Advertisement

Peoples Bancorp quarterly earnings fall 4%

Peoples Bancorp today reported third fiscal quarter earnings of $752,708, or 32 cents per share, a 4 percent decline from the $785,812, or 33 cents a share, posted for the same three months of 2012.

Maurice Winkler, president, said the Auburn-based company prepaid some loans from the Federal Home Loan Bank, which resulted in penalties. That contributed to a $900,000 increase in the company’s non-interest expenses for the quarter, compared with last year’s fiscal third quarter.

“However, we were able to see immediate benefits in net interest margin that should continue going forward,” Winkler said in a statement.

A strengthening economy also has helped the bank’s performance. Peoples’ balance of non-performing loans and real estate owned decreased 24 percent, to $1.1 million, during the quarter, allowing the company to put aside less money in its fund to cover loan losses.

The parent of Peoples Federal Savings Bank reported assets of almost $466 million as of June 30.

sslater@jg.net

Advertisement