What changed in this filing

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Item 2. Properties

2023-02-27 compared with 2022-03-15 · 37 added, 37 removed, 9 unchanged (89% of the section changed)

1 unchanged sentence

Peoples' sole banking subsidiary, Peoples Bank, generally owns its offices, related facilities and unimproved real property.

At December 31, 2021, Peoples Bank operated 66 offices in Ohio, 34 locations in West Virginia, 26 offices in Kentucky, three offices in Virginia, three offices in Washington D.C., one location in Maryland, an insurance premium finance lending office in Missouri and an equipment leasing office in Vermont.

At December 31, 2022, Peoples Bank operated 65 offices in Ohio, 29 offices in West Virginia, 23 offices in Kentucky, 2 offices in Virginia, 3 offices in Washington D.C., 1 office in Maryland, an insurance premium finance lending office in Missouri, an equipment leasing office in Vermont.

Of these 125 offices, 27 are leased and the rest are owned by Peoples Bank.

Peoples Insurance rents office space in various Peoples Bank offices, and also leases office space from third parties in Sciotoville, Ohio and in Pikeville, Kentucky.

Peoples Bank's subsidiary, Peoples Insurance rents office space in various Peoples Bank offices, and also leases office space from third parties in Inez, Louisa, and Pikeville, Kentucky.

Peoples Bank's subsidiary, Vantage, rents office space in Excelsior, Minnesota.

Rent expense on the leased properties totaled $3.3 million in 2022 and $2.0 million in 2021, which excludes intercompany rent expense.

1 unchanged sentence

Location Address Lease Expiration Date

DuPont Circle 1604 17th Street

Washingtion, DC March 2022 (a)

Cincinnati West Loan Production Office 6701 Ruwes Oak Drive, Suite 4

Cincinnati, Ohio April 2022 (b)

Charleston Commercial Office 10 Hale Street

Charleston, West Virginia May 2022 (c)

Lancaster Fair Avenue Office 2211 West Fair Avenue

Lancaster, Ohio March 2023 (a)

Premium Finance 600 SW Jefferson, Suite 204

Lee's Summit, Missouri August 2022 (a)

Spencer 303 Main Street

Spencer, West Virginia November 2022 (d)

West Hamlin 40 Lincoln Plaza

Branchland, West Virginia December 2022 (a)

K Street 1501 K Street, NW

Washington, DC December 2022 (a)

Sciotoville Insurance 6606 Gallia Street

Sciotoville, Ohio December 2022 (e)

Vanceburg AA Highway 67 Commercial Drive, Suite 3

Vanceburg, Kentucky February 2023 (a)

Proctorville 7604 County Road 107

Proctorville, Ohio February 2023 (a)

North Star Leasing 747 Pine Street

Burlington, Vermont March 2023 (f)

Akron Business Production Office 354 South Main Street, Suite 200

Akron, Ohio June 2023 (a)

North Canton Loan Production Office 125 South Main Street

North Canton, Ohio June 2023 (g)

Athens - Mall Office 801 East State Street, Athens, Ohio

June 2024 (a)

Beachwood 24400 Chagrin Boulevard, Beachwood, Ohio

September 2023 (a)

Beckley LPO 300 N Kanawha St STE 207, Beckley WV

February 2023 (c)

Chevy Chase 5530 Wisconsin Ave STE 105, Chevy Chase, MD

September 2023 (e)

Cincinnati West LPO 6701 Ruwes Oak Dr, Cincinnati, OH

February 2023 (a)

Lancaster Fair Ave 2211 West Fair Avenue, Lancaster, Ohio

March 2023 (d)

Louisa Insurance 306 Commerce Drive, Louisa, KY

December 2023 (f)

Milford LPO 151 Castleberry Ct., Milford, OH

June 2024 (b)

Nelsonville 951 Canal Street, Nelsonville, Ohio

January 2024 (a)

North Canton LPO 125 S.

Main Street, North Canton, OH

July 2023 (d)

Vanceburg AA Highway 67 Commercial Dr STE 3, Vanceburg, KY

February 2023 (a)

Washington DC LPO 1130 Connecticut Ave, Washington, DC

August 2023 (a)

Worthington LPO 250 E.

Wilson Bridge Rd., Suite 230, Worthington, Ohio

March 2024 (a)

(a) Current lease agreement has no remaining extensions available.

(b) Current lease agreement is in final extension.

(d) Current lease agreement will change to a month-to-month lease upon expiration.

(e) Current lease has one one-year extension remaining.

(f) Current lease has two three-year extensions remaining.

(g) Current lease agreement has one two-year extension remaining.

(b) Current lease agreement has one three-year extension remaining.

(d) Current lease has one one-year extension remaining.

(e) Current lease agreement has one five-year extension remaining.

(f) Current lease agreement has three three-year extensions remaining.

Peoples considers its offices and related facilities to be suitable and adequate for the present needs of Peoples and its subsidiaries.

Peoples evaluates on a continuing basis the suitability and adequacy of its offices and related facilities, and has opened, relocated, remodeled or closed them as appropriate to maintain efficient and attractive premises.

Additional information concerning the property and equipment owned or leased by Peoples and its subsidiaries is incorporated herein by reference from "Note 5 Bank Premises and Equipment" of the Notes to the Consolidated Financial Statements.

Additional information concerning the property and equipment owned or leased by Peoples and its subsidiaries is incorporated herein by reference from "Note 5 Bank Premises and Equipment."

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 2. Properties