Results of Operations

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 26, 2026 (January 20, 2026) PEOPLES BANCORP INC. (Exact name of Registrant as specified in its charter) Ohio 000-16772 31-0987416 (State or other jurisdiction (Commission File (I.R.S. Employer of incorporation) Number) Identification Number) 138 Putnam Street, PO Box 738 Marietta, Ohio 45750-0738 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (740) 373-3155 Not applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common shares, without par value PEBO The Nasdaq Stock Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 2.02     Results of Operations and Financial Condition On January 20, 2026, management of Peoples Bancorp Inc. (“Peoples”) conducted a facilitated conference call at approximately 11:00 a.m., Eastern Standard Time, to discuss results of operations for the quarter and fiscal year ended December 31, 2025. A replay of the conference call audio will be available on Peoples’ website, www.peoplesbancorp.com, in the “Investor Relations” section for one year. A copy of the transcript of the conference call is included as Exhibit 99.1 to this Current Report on Form 8-K. The information contained in this Item 2.02 and Exhibit 99.1 included with this Current Report on Form 8-K, is being furnished pursuant to Item 2.02 and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall such information be deemed to be incorporated by reference in any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise stated in such filing. During the conference call, management referred to non-Generally Accepted Accounting Principles ("US GAAP") financial measures that are used by management to provide information useful to investors in understanding Peoples' operating performance and trends, and to facilitate comparisons with the performance of Peoples' peers. The following tables show the differences between the non-US GAAP financial measures referred to during the conference call and the most directly comparable US GAAP-based financial measures. Three Months Ended For the Year Ended December 31, September 30, December 31, December 31, (Dollars in thousands) 2025 2025 2024 2025 2024 Efficiency ratio: Total non-interest expense $ 71,294  $ 69,894  $ 70,503  $ 282,337  $ 273,816  Less: amortization of other intangible assets 2,210  2,211  2,800  8,845  11,161  Adjusted total non-interest expense 69,084  67,683  67,703  273,492  262,655  Total non-interest income 26,272  23,827  25,089  104,078  99,366  Less: net (loss) gain on investment securities (77) (2,580) 12  (2,659) (416) Less: net loss on asset disposals and other transactions (1,908) (478) (1,746) (3,027) (3,310) Total non-interest income, excluding net gains and losses 28,257  26,885  26,823  109,764  103,092  Net interest income 91,049  91,349  86,536  355,230  348,701  Add: fully tax-equivalent adjustment (a) 266  279  286  1,108  1,308  Net interest income on a fully tax-equivalent basis 91,315  91,628  86,822  356,338  350,009  Adjusted revenue $ 119,572  $ 118,513  $ 113,645  $ 466,102  $ 453,101  Efficiency ratio 57.78  % 57.11  % 59.57  % 58.68  % 57.97  % (a) Tax effect is calculated using a 21% statutory federal corporate income tax rate. At or For the Three Months Ended December 31, September 30, June 30, March 31, December 31, (Dollars in thousands, except per share data) 2025 2025 2025 2025 2024 Tangible equity: Total stockholders' equity $ 1,206,602  $ 1,182,776  $ 1,153,350  $ 1,137,821  $ 1,111,590  Less: goodwill and other intangible assets 393,319  395,535  397,785  400,099  402,422  Tangible equity $ 813,283  $ 787,241  $ 755,565  $ 737,722  $ 709,168  Tangible assets: Total assets $ 9,649,630  $ 9,623,944  $ 9,540,608  $ 9,246,000  $ 9,254,247  Less: goodwill and other intangible assets 393,319  395,535  397,785  400,099  402,422  Tangible assets $ 9,256,311  $ 9,228,409  $ 9,142,823  $ 8,845,901  $ 8,851,825  Tangible book value per common share: Tangible equity $ 813,283  $ 787,241  $ 755,565  $ 737,722  $ 709,168  Common shares outstanding 35,714,484  35,705,369  35,673,721  35,669,100  35,563,590  Tangible book value per common share $ 22.77  $ 22.05  $ 21.18  $ 20.68  $ 19.94  Tangible equity to tangible assets ratio: Tangible equity $ 813,283  $ 787,241  $ 755,565  $ 737,722  $ 709,168  Tangible assets $ 9,256,311  $ 9,228,409  $ 9,142,823  $ 8,845,901  $ 8,851,825  Tangible equity to tangible assets 8.79  % 8.53  % 8.26  % 8.34  % 8.01  % Three Months Ended For the Year Ended December 31, September 30, December 31, December 31, (Dollars in thousands) 2025 2025 2024 2025 2024 Pre-provision net revenue: Income before income taxes $ 37,977  $ 38,002  $ 34,855  $ 134,809  $ 149,464  Add: provision for credit losses 8,050  7,280  6,267  42,162  24,787  Add: net loss on OREO 851  —  1,228  821  1,230  Add: net loss on investment securities 77  2,580  —  2,659  428  Add: net loss on other assets 210  424  446  1,231  1,916  Add: net loss on other transactions 847  54  60  975  152  Pre-provision net revenue $ 48,012  $ 48,340  $ 42,856  $ 182,657  $ 177,977  Three Months Ended For the Year Ended December 31, September 30, December 31, December 31, (Dollars in thousands) 2025 2025 2024 2025 2024 Annualized net income adjusted for non-core items: Net income $ 31,754  $ 29,476  $ 26,930  $ 106,778  $ 117,205  Add: net loss on investment securities 77  2,580  —  2,659  428  Less: tax effect of net loss on investment securities (a) 16  542  —  558  90  Less: net gain on investment securities —  —  12  —  12  Add: tax effect of net gain on investment securities (a) —  —  3  —  3  Add: net loss on asset disposals and other transactions 1,908  478  1,746  3,027  3,310  Less: tax effect of net loss on asset disposals and other transactions (a) 401  100  367  636  695  Add: acquisition-related expenses —  —  1,144  —  169  Less: tax effect of acquisition-related expenses (a) —  —  240  —  35  Net income adjusted for non-core items $ 33,322  $ 31,892  $ 29,204  $ 111,270  $ 120,283  Days in the period 92  92  92  365  366  Days in the year 365  365  366  365  366  Annualized net income $ 125,981  $ 116,943  $ 107,135  $ 106,778  $ 117,205  Annualized net income adjusted for non-core items $ 132,201  $ 126,528  $ 116,181  $ 111,270  $ 120,283  Return on average assets: Annualized net income $ 125,981  $ 116,943  $ 107,135  $ 106,778  $ 117,205  Total average assets $ 9,630,774  $ 9,574,270  $ 9,146,057  $ 9,424,980  $ 9,122,843  Return on average assets 1.31  % 1.22  % 1.17  % 1.13  % 1.28  % Return on average assets adjusted for non-core items: Annualized net income adjusted for non-core items $ 132,201  $ 126,528  $ 116,181  $ 111,270  $ 120,283  Total average assets $ 9,630,774  $ 9,574,270  $ 9,146,057  $ 9,424,980  $ 9,122,843  Return on average assets adjusted for non-core items 1.37  % 1.32  % 1.27  % 1.18  % 1.32  % (a) Tax effect is calculated using a 21% statutory federal corporate income tax rate. For the Three Months Ended For the Year Ended December 31, September 30, December 31, December 31, (Dollars in thousands) 2025 2025 2024 2025 2024 Annualized net income excluding amortization of other intangible assets: Net income $ 31,754  $ 29,476  $ 26,930  $ 106,778  $ 117,205  Add: amortization of other intangible assets 2,210  2,211  2,800  8,845  11,161  Less: tax effect of amortization of other intangible assets (a) 464  464  588  1,857  2,344  Net income excluding amortization of other intangible assets $ 33,500  $ 31,223  $ 29,142  $ 113,766  $ 126,022  Days in the period 92  92  92  365  366  Days in the year 365  365  366  365  366  Annualized net income $ 125,981  $ 116,943  $ 107,135  $ 106,778  $ 117,205  Annualized net income excluding amortization of other intangible assets $ 132,908  $ 123,874  $ 115,934  $ 113,766  $ 126,022  Average tangible equity: Total average stockholders' equity $ 1,196,505  $ 1,162,768  $ 1,120,597  $ 1,157,563  $ 1,083,792  Less: average goodwill and other intangible assets 394,409  396,636  402,930  397,810  406,619  Average tangible equity $ 802,096  $ 766,132  $ 717,667  $ 759,753  $ 677,173  Return on average stockholders' equity ratio: Annualized net income $ 125,981  $ 116,943  $ 107,135  $ 106,778  $ 117,205  Average stockholders' equity $ 1,196,505  $ 1,162,768  $ 1,120,597  $ 1,157,563  $ 1,083,792  Return on average stockholders' equity 10.53  % 10.06  % 9.56  % 9.22  % 10.81  % Return on average tangible equity ratio: Annualized net income excluding amortization of other intangible assets $ 132,908  $ 123,874  $ 115,934  $ 113,766  $ 126,022  Average tangible equity $ 802,096  $ 766,132  $ 717,667  $ 759,753  $ 677,173  Return on average tangible equity 16.57  % 16.17  % 16.15  % 14.97  % 18.61  % (a) Tax effect is calculated using a 21% statutory federal corporate income tax rate. Item 9.01      Financial Statements and Exhibits a) - c) Not applicable d) Exhibits See Index to Exhibits below. INDEX TO EXHIBITS Exhibit Number Description 99.1 Transcript of conference call conducted by management of Peoples Bancorp Inc. on January 20, 2026 to discuss results of operations for the quarter ended December 31, 2025 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document) SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PEOPLES BANCORP INC. Date: January 26, 2026 By:/s/ KATHRYN BAILEY Kathryn Bailey Executive Vice President, Chief Financial Officer and Treasurer