Peoples Bancorp reports quarterly results
MARIETTA, OHIO -- Peoples Bancorp Inc. Tuesday reported first quarter results showing net income of $5 million and earnings of 47 cents per share.
That compares with earning of 36 cents per share for the fourth quarter 2012 and 63 cents per share for the first quarter of 2012, according to a news release.
"Our asset quality metrics continue to move closer to the levels experienced prior to the Great Recession. We are also experiencing good growth in our fee-based revenues and consumer lending while holding the line on our operating expenses," said Chuck Sulerzyski, president and chief executive officer. "In contrast, increased competition and historical seasonality of new loan demand impacted commercial loan balances. Long-term interest rates also remained at very low levels which further impeded revenue growth."
The company also reported that a subsidiary, Peoples Insurance Agency, has completed the acquisition of McNelly Insurance and Consulting Agency of Jackson, Ohio. The purchase should add about $450,000 in annual insurance revenue, primarily related to employee medical benefit plans, according to the release.
Peoples Bancorp Inc. has 47 locations and 44 ATMs in Ohio, West Virginia and Kentucky.
W.Va.'s Rahall plans development forums
HUNTINGTON -- West Virginia Congressman Nick J. Rahall is sponsoring a series of forums to promote economic development and job growth in the southern part of the state.
The forums kick off one week from Tuesday in Huntington. Other meetings are planned in Beckley and Bluefield.
Rahall says he's invited representatives from the Small Business Administration and the U.S. Department of Agriculture's rural development office. The meetings will include sections on financing, marketing and exporting opportunities. Business owners will also learn more about the new health care law and how they can take advantage of benefits under the law.
NRP declares quarterly distribution, paid May 14
HOUSTON -- Natural Resource Partners Tuesday declared a first quarter distribution of 55 cents per unit, according to a news release.
The distribution will be paid on May 14 to unitholders of record on May 6.
NRP, which owns and manages mineral reserve properties, has its operations headquarters in Huntington.
TV-over-Internet service Aereo expands to Boston
NEW YORK (AP) -- Aereo, the television-over-the-Internet service that is threatening the broadcast and cable TV industries, is expanding to Boston on May 15.
With prices starting at $8 a month, Aereo will offer 28 Boston-area broadcast channels, plus the cable channel Bloomberg TV. Service will be available in Boston and surrounding areas in Massachusetts, New Hampshire and Vermont.
The Barry Diller-backed company announced in January that it plans to expand beyond New York to 22 additional U.S. markets. Boston represents the first metropolitan area outside New York. Others expected in the coming months include Chicago, Philadelphia and Washington.
Aereo sells its service as a low-cost alternative to cable or satellite TV, and it plans to target those who have dropped pay-TV service or never had one.