Peoples Bancorp on Wednesday reported fiscal second-quarter earnings of $687,335, or 28 cents per diluted common share, a 19 percent decline from the $846,986, or 34 cents a share, reported for the same three months of the prior year.
The Auburn-based parent of Peoples Federal Savings Bank increased its provision for loan losses, setting aside $75,000 during the quarter, compared to $65,000 set aside during the same three months of 2011.
The company’s fiscal year began Oct. 1. Its second quarter ended March 31.
Maurice Winkler, Peoples’ president, said the company’s profits were affected by the “extremely low interest rate environment” that the U.S. is in.