What the changes say
- Interest-rate hedge exposure fell from eight swaps totaling $75.0 million to five totaling $45.0 million.
- New technology and employee-retention concerns broaden operational risks.
- Credit-loss estimation and accounting-standard risks are substantively unchanged.
What changed since the prior 10-K
New
- NewBusiness Operations Risks
Further, any new laws, rules, or regulations could make compliance more difficult or expensive or otherwise adversely affect Peoples’ business and financial condition
Peoples may struggle to adopt artificial intelligence, digital, cryptocurrency, blockchain, and other fintech technologies or attract and retain key employees.
Reworded
- 51% rewrittenBusiness Operations Risks
Additional information regarding Peoples’ credit exposure concentration at December 31, 2025 can be found in the section captioned “Loan Concentration” in “ITEM 7 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS” of this Form 10-K
The credit-loss allowance risk is unchanged; only the cross-reference now points to December 31, 2025 loan-concentration information.
Was: Additional information regarding Peoples’ credit exposure concentration at December 31, 2024 can be found in the section captioned “Loan Concentration” in “ITEM 7 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS” of this Form 10-K
- 26% rewrittenLegislative, Regulatory and Tax Change Risks
Further information about government regulation of Peoples’ business can be found under the caption “Supervision and Regulation” in “ITEM 1 BUSINESS” of this Form 10-K
The accounting-standard risk is unchanged, including potential reporting impacts and retroactive restatements.
- 25% rewrittenEconomic, Political, Environmental and Market Risks
See the sections captioned “Net Interest Income” and “Interest Rate Sensitivity and Liquidity” in “ITEM 7 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS” of this Form 10-K for further discussion related to Peoples’ interest rate risk
Peoples reduced effective brokered-deposit cash-flow hedges from eight swaps totaling $75.0 million to five totaling $45.0 million at December 31, 2025.
Risk factor headings as read
Headings as the filing states them, in filing order.
Economic, Political, Environmental and Market Risks
- 01Changes in interest rates may also negatively affect the ability of Peoples’ borrowers to repay their loans, particularly as interest rates rise and adjustable-rate loans become more expensive
- 02See the sections captioned “Net Interest Income” and “Interest Rate Sensitivity and Liquidity” in “ITEM 7 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS” of this Form 10-K for further discussion related to Peoples’ interest rate risk25% rewritten
Business Operations Risks
- 03Peoples is also at risk of the impact of natural disasters, terrorism and international hostilities on Peoples’ systems or from the effects of outages or other failures involving power or communications systems operated by others
- 04For a more complete discussion of the BSA, the USA Patriot Act and the AMLA as well as OFAC, see the section captioned “Supervision and Regulation” in “ITEM 1 BUSINESS” of this Form 10-K
- 05Additionally, regulatory guidance adopted by federal and state bank regulators addressing how banks select, engage and manage their third-party relationships, could affect the circumstances and conditions under which Peoples works with third parties and the cost of managing such relationships
- 06Additional information regarding Peoples’ credit exposure concentration at December 31, 2025 can be found in the section captioned “Loan Concentration” in “ITEM 7 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS” of this Form 10-K51% rewritten
- 07Further, any new laws, rules, or regulations could make compliance more difficult or expensive or otherwise adversely affect Peoples’ business and financial conditionNew
Legislative, Regulatory and Tax Change Risks
- 08Further information about government regulation of Peoples’ business can be found under the caption “Supervision and Regulation” in “ITEM 1 BUSINESS” of this Form 10-K26% rewritten
Other Peoples Bancorp 10-Ks
- FY2024 10-K risk factorsRisk factors section under review
Interest-rate changes threaten borrower repayment, net interest results, and the effectiveness of Peoples Bank’s swaps.
Filed Feb 27, 2025
About this page
The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.