Carol Shinn Promoted to Executive Vice President & Chief Operations Officer

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Carol Shinn Promoted to Executive Vice President & Chief Operations Officer

Peoples Bank is pleased to announce the promotion of Carol Shinn to Executive Vice President, Chief Operations Officer. With more than 35 years in the banking industry, Ms. Shinn joined Peoples Bank in 2015 and has excelled in roles including Senior Vice President, Chief Information Officer, and Director of Deposit Operations.

Carol Shinn

In her new role, Ms. Shinn will be responsible for overseeing the Bank’s information technology, data analytics, deposit operations, digital banking, project management, and more. Her expertise will be instrumental in driving the Bank’s commitment to operational excellence and enhancing the quality of service provided to its customers.

“Carol Shinn has consistently demonstrated exceptional leadership and vision throughout her career,” stated Peoples Bank President and CEO Bill Cable. “Her expertise in technology and operations ensures that we will continue to provide strategic banking solutions tailored to our customers’ needs.”

Ms. Shinn graduated from Louisiana State University Graduate School of Banking and is a Certified Regulatory Vendor Program Manager (CRVPM). Her experience and industry knowledge will be instrumental as she leads efforts to enhance the Bank’s operational efficiency and innovation.

“I am excited to step into this new role and continue contributing to the success of Peoples Bank,” Ms. Shinn said. “My focus will be on advancing our strategic initiatives in a way that will create meaningful value for our customers.”

Outside her professional pursuits, Ms. Shinn enjoys traveling and cherishes time spent with her three grown children and three grandchildren.

Peoples Bank, the wholly-owned subsidiary of Peoples Bancorp of North Carolina, Inc., operates 16 banking offices in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Iredell, and Wake Counties. The Bank also operates loan production offices in Lincoln, Mecklenburg, Forsyth, and Rowan Counties. The Company's stock is publicly traded and is quoted on the Nasdaq Global Market under the symbol "PEBK." For more information, please visit PeoplesBankNC.com or call 877-802-1212

Statements made in this press release, other than those concerning historical information, should be considered forward-looking statements pursuant to the safe harbor provisions of the Securities Exchange Act of 1934 and the Private Securities Litigation Act of 1995. These forward-looking statements involve risks and uncertainties and are based on the beliefs and assumptions of management and on the information available to management at the time that this release was prepared. These statements can be identified by the use of words like “expect,” “anticipate,” “estimate,” and “believe,” variations of these words and other similar expressions. Readers should not place undue reliance on forward-looking statements as a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause actual results to differ include, but are not limited to, (1) competition in the markets served by the Bank, (2) changes in the interest rate environment, (3) general national, regional or local economic conditions may be less favorable than expected, resulting in, among other things, a deterioration in credit quality and the possible impairment of collectibility of loans, (4) legislative or regulatory changes, including changes in accounting standards, (5) significant changes in the federal and state legal and regulatory environment and tax laws, (6) the impact of changes in monetary and fiscal policies, laws, rules and regulations and (7) other risks and factors identified in the Company’s other filings with the Securities and Exchange Commission, including but not limited to those described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.