Peoples Bancorp Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported net interest income of $29,122,000 compared to $26,667,000 a year ago. Net interest income after provision for loan losses was $28,007,000 compared to $25,956,000 a year ago. Income before income taxes was $14,340,000 compared to $10,744,000 a year ago. Net income was $9,001,000 compared to $7,408,000 a year ago. Diluted earnings per share were $0.49 compared to $0.41 a year ago. Adjusted revenue was $42,681,000 compared to $39,295,000 a year ago. Return on average stockholders' equity was 7.79% against of 6.72% a year ago. Return on average tangible stockholders' equity was 12.09% against of 10.99% a year ago. Book value per share was $25.08 against of $23.92 per share a year ago. Tangible book value per share was $17.17 compared to $15.89 a year ago. Return on average assets was 1.00% against of 0.87% a year ago. The fourth quarter of 2017 includes investment security gains of $764,000, which was -- which added $0.03 to earnings per diluted share in the fourth quarter of 2017. These gains were partially offset by 2 non-core items that resulted in additional noninterest expense during the fourth quarter. The fourth quarter of 2017 was also impacted by the recently enacted Tax Cuts and Jobs Act. This resulted in additional $897,000 of income tax expense during the fourth quarter of 2017. This additional income tax expense resulted in a reduction of earnings per diluted share of approximately $0.05 for both the fourth quarter and the full year of 2017.

For the full year, the company reported net interest income of $113,377,000 compared to $104,865,000 a year ago. Net interest income after provision for loan losses was $109,605,000 compared to $101,326,000 a year ago. Income before income taxes was $57,203,000 compared to $45,282,000 a year ago. Net income was $38,471,000 compared to $31,157,000 a year ago. Diluted earnings per share were $2.10 compared to $1.71 a year ago. Adjusted revenue was $167,943,000 compared to $157,962,000 a year ago. Return on average stockholders' equity was 8.54% against of 7.20% a year ago. Return on average tangible stockholders' equity was 13.33% against of 11.86% a year ago. Return on average assets was 1.10% against of 0.94% a year ago.

For the quarter, the company reported net charge-offs were $1,314,000 against of $501,000 for the same period a year ago.

The company provided financial guidance for 2018. The company announced that it will continue to maintain the focus and momentum going into 2018. With that in mind, it provides guidance for 2018, which exclude the anticipated benefits of the announced acquisition. The company expects point-to-point loan growth of 5% to 7%. Expects an increase in credit cost in 2018. It believes net interest margin will be approximately 3.60%. Fee-based revenue growth is expected to be between 2% and 4%. Expects noninterest expense growth to be between 2% and 4% for 2018. Anticipates the effective tax yield to be approximately 19% for 2018. These expectations of 2018 are in line with the guidance it issued during the previous call and include an updated efficiency ratio and effective tax rate.