By Ken Alltucker and Jeff McKinney
Enquirer staff writers

Higher expenses caused the parent of Peoples Community Bank to post a 22 percent drop in third-quarter earnings.

West Chester-based Peoples Community Bancorp Inc. earned $751,000, or 21 cents a share, down from $966,000, or 38 cents a share, during the same period in 2003.

Peoples, with assets of $852 million and 12 branches in Butler, Warren and Hamilton counties, said the drop primarily came from costs tied to expanding its branch network.

The bank also said Teresa O'Quinn has been named executive vice president and chief operating officer. She will replace Dennis Slattery, who is retiring.

Peoples also hired Dale Shafer, a former senior manager at the accounting firm Grant Thornton, as a senior vice president. The bank said last week it hired BKD to replace Grant Thornton as its auditor.

Pinnacle Entertainment

Belterra Casino Resort's parent company, Pinnacle Entertainment Inc., on Friday reported second-quarter profits of $1.4 million compared to a loss of $2 million the year before.

The Las Vegas-based gaming company said its financial results were driven in part by Belterra's $37 million spring expansion that included a 300-room hotel tower, 33,000-square-foot conference center and other amenities.

Belterra, located near Florence, Ind., reported cash flow of $7.4 million, up 52.3 percent from $4.9 million a year ago.

The company spent $1.8 million on marketing and other costs for the Belterra expansion.