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Press Releases

2016

Company Release - 11/18/2016

NEWTON, N.C., November 18, 2016 -- The Board of Directors of Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK) declared a cash dividend for the fourth quarter of 2016 in the amount of $0.10 per share at their most recent meeting. The cash dividend will be paid on December 15, 2016 to shareholders of record December 2, 2016.

Shareholders are encouraged to enroll in the Company’s Dividend Reinvestment and Stock Purchase Plan. For details, contact Krissy Price at (828) 464-5620 or (800) 948-7195 or you may email any questions to our transfer agent, Broadridge Corporate Issuer Solutions, Inc. at .

Peoples Bank, the wholly-owned subsidiary of Peoples Bancorp of North Carolina, Inc. operates 20 offices entirely in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Union, Iredell and Wake Counties. The Bank also operates loan production offices in Lincoln, Durham and Forsyth Counties. The Company’s common stock is publicly traded and is quoted on the Nasdaq Global Market under the symbol “PEBK.”

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 are based on information currently available to management and are subject to various risks and uncertainties, including but not limited to those described in Peoples Bancorp of North Carolina, Inc.’s annual report on Form 10-K for the year ended December 31, 2015, under “General Description of Business” and otherwise in the Company’s reports and filings.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

Company Release - 8/19/2016

NEWTON, N.C., August 19, 2016 -- The Board of Directors of Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK) declared a cash dividend for the third quarter of 2016 in the amount of $.10 per share at their most recent meeting. The cash dividend will be paid on September 15, 2016 to shareholders of record September 2, 2016.

Shareholders are encouraged to enroll in the Company’s Dividend Reinvestment and Stock Purchase Plan. For details, contact Krissy Price at (828) 464-5620 or (800) 948-7195 or you may email any questions to our transfer agent, Broadridge Corporate Issuer Solutions, Inc. at .

Peoples Bank, the wholly-owned subsidiary of Peoples Bancorp of North Carolina, Inc. operates 20 offices entirely in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Union, Iredell and Wake Counties. The Bank also operates loan production offices in Lincoln, Durham and Forsyth Counties. The Company’s common stock is publicly traded and is quoted on the Nasdaq Global Market under the symbol “PEBK.”

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 are based on information currently available to management and are subject to various risks and uncertainties, including but not limited to those described in Peoples Bancorp of North Carolina, Inc.’s annual report on Form 10-K for the year ended December 31, 2015, under “General Description of Business” and otherwise in the Company’s reports and filings.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

7/25/2016

Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK), the parent company of Peoples Bank, reported second quarter and year to date earnings results with highlights as follows:

Second Quarter Highlights:

  • Net earnings were $3.0 million or $0.54 basic net earnings per share and $0.53 diluted net earnings per share for the three months ended June 30, 2016, as compared to $2.6 million or $0.47 basic and diluted net earnings per share for the same period one year ago.
  • On June 16, 2016, The North Carolina Business Court ended a lawsuit filed against Peoples Bank that began in 2013. The lawsuit, which alleged unfair overdraft practices, was dismissed by the Business Court on June 10, 2015. The Plaintiff appealed to the North Carolina Court of Appeals which, on May 3, 2016, in a unanimous opinion, affirmed the dismissal of the lawsuit by the Business Court. As a result of the dismissal of the lawsuit, the Company was able to recognize, during second quarter 2016, the reimbursement of $277,000 in legal fees from the Company’s insurance carrier.

Year to date Highlights:

  • Net earnings were $5.4 million or $0.98 basic net earnings per share and $0.97 diluted net earnings per share for the six months ended June 30, 2016, as compared to $5.0 million or $0.89 basic net earnings per share and $0.88 diluted net earnings per share for the same period one year ago.
  • Non-performing assets declined to $6.2 million or 0.6% of total assets at June 30, 2016, compared to $11.1 million or 1.1% of total assets at June 30, 2015.
  • Total loans increased $35.2 million to $702.0 million at June 30, 2016, compared to $666.8 million at June 30, 2015.
  • Core deposits were $810.5 million or 96.3% of total deposits at June 30, 2016, compared to $768.3 million or 95.0% of total deposits at June 30, 2015.

Lance A. Sellers, President and Chief Executive Officer, attributed the increase in second quarter earnings to a an increase in net interest income, an increase in the credit to the provision for loan losses and an increase in non-interest income, which were partially offset by an increase in non-interest expense.

Read the complete earnings release here.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

Company Release - 05/20/2016

NEWTON, N.C., May 20, 2016 -- The Board of Directors of Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK) declared a cash dividend for the second quarter of 2016 in the amount of $0.10 per share at their most recent meeting. This is an increase of $0.02 per share from the regular quarterly cash dividend paid in the first quarter of 2016, of $0.08 per share. The cash dividend will be paid on June 15, 2016 to shareholders of record June 3, 2016.

Shareholders are encouraged to enroll in the Company’s Dividend Reinvestment and Stock Purchase Plan. For details, you may contact Krissy Price at 828-464-5620 or 800-948-7195 or you may email any questions to our transfer agent, Broadridge Corporate Issuer Solutions, Inc. at .

Peoples Bank, the wholly-owned subsidiary of Peoples Bancorp of North Carolina, Inc. operates 20 banking offices entirely in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Union, Iredell and Wake Counties. The Bank also operates loan production offices in Lincoln, Durham, and Forsyth Counties. The Company’s common stock is publicly traded and is quoted on the Nasdaq Global Market under the symbol “PEBK.”.

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 are based on information currently available to management and are subject to various risks and uncertainties, including but not limited to those described in Peoples Bancorp of North Carolina, Inc.’s annual report on Form 10-K for the year ended December 31, 2015, under “General Description of Business” and otherwise in the Company’s reports and filings.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

4/25/2016

Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK), the parent company of Peoples Bank, reported first quarter earnings results with highlights as follows:

  • Net earnings were $2.5 million or $0.45 basic net earnings per share and $0.44 diluted net earnings per share for the three months ended March 31, 2016, as compared to $2.3 million or $0.41 basic and diluted net earnings per share for the same period one year ago.
  • Average outstanding principal balance of loans increased $37.1 million to $691.8 million for the three months ended March 31, 2016 compared to $654.7 million for the three months ended March 31, 2015.
  • Non-performing assets declined to $8.5 million or 0.79% of total assets at March 31, 2016, compared to $12.4 million or 1.2% of total assets at March 31, 2015.
  • Total loans increased $32.5 million to $693.0 million at March 31, 2016, compared to $660.5 million at March 31, 2015.
  • Core deposits were $821.6 million or 96.3% of total deposits at March 31, 2016, compared to $786.2 million or 94.7% of total deposits at March 31, 2015.

Lance A. Sellers, President and Chief Executive Officer, attributed the increase in first quarter earnings to an increase in net interest income, a decrease in the provision for loan losses and an increase in non-interest income, which were partially offset by an increase in non-interest expense.

Read the complete earnings release here.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

Company Release - 02/19/2016

NEWTON, N.C., February 19, 2016 -- The Board of Directors of Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK) declared a cash dividend for the first quarter of 2016 in the amount of $0.08 per share at their most recent meeting. The cash dividend will be paid on March 15, 2016 to shareholders of record March 3, 2016.

Shareholders are encouraged to enroll in the Company’s Dividend Reinvestment and Stock Purchase Plan. For details, you may contact Krissy Price at 828-464-5620 or 800-948-7195 or you may email any questions to our transfer agent, Broadridge Corporate Issuer Solutions, Inc. at .

Peoples Bank, the wholly-owned subsidiary of Peoples Bancorp of North Carolina, Inc. operates 20 banking offices entirely in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Union, Iredell and Wake Counties. The Bank also operates loan production offices in Lincoln, Durham, and Forsyth Counties. The Company’s common stock is publicly traded and is quoted on the Nasdaq Global Market under the symbol “PEBK.”.

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 are based on information currently available to management and are subject to various risks and uncertainties, including but not limited to those described in Peoples Bancorp of North Carolina, Inc.’s annual report on Form 10-K for the year ended December 31, 2014, under “General Description of Business” and otherwise in the Company’s reports and filings.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

Company Release - 01/25/2016

Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK), the parent company of Peoples Bank, reported fourth quarter and annual earnings results with highlights as follows:

Fourth quarter highlights:

  • Net earnings were $2.2 million or $0.40 basic net earnings per share and $0.39 diluted net earnings per share for the three months ended December 31, 2015, as compared to $1.8 million or $0.32 basic and diluted net earnings per share for the same period one year ago.

Year to date highlights:

  • Net earnings were $9.6 million or $1.73 basic net earnings per share and $1.72 diluted net earnings per share for the year ended December 31, 2015, as compared to $9.4 million or $1.67 basic net earnings per share and $1.66 diluted net earnings per share for the same period one year ago.
  • Non-performing assets declined to $9.2 million or 0.88% of total assets at December 31, 2015, compared to $12.7 million or 1.2% of total assets at December 31, 2014.
  • Total loans increased $37.2 million to $689.1 million at December 31, 2015, compared to $651.9 million at December 31, 2014.
  • Core deposits were $801.2 million or 96.3% of total deposits at December 31, 2015, compared to $755.8 million or 92.8% of total deposits at December 31, 2014.

Lance A. Sellers, President and Chief Executive Officer, attributed the increase in fourth quarter earnings to an increase in net interest income, an increase in non-interest income and a decrease in non-interest expense, which were partially offset by a decrease in the credit to provision for loan losses.

Read the complete earnings release here.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

2015

Company Release - 11/20/2015

NEWTON, N.C., November 20, 2015 -- The Board of Directors of Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK) declared a cash dividend for the fourth quarter of 2015 in the amount of $0.08 per share at their most recent meeting. The cash dividend will be paid on December 15, 2015 to shareholders of record December 3, 2015.

Shareholders are encouraged to enroll in the Company’s Dividend Reinvestment and Stock Purchase Plan. For details, you may contact Krissy Price at 828-464-5620 or 800-948-7195 or you may email any questions to our transfer agent, Broadridge Corporate Issuer Solutions, Inc. at .

Peoples Bank, the wholly-owned subsidiary of Peoples Bancorp of North Carolina, Inc. operates 21 offices entirely in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Union, Iredell and Wake Counties. The Bank also operates loan production offices in Lincoln and Durham Counties. The Company’s common stock is publicly traded and is quoted on the Nasdaq Global Market under the symbol “PEBK.”.

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 are based on information currently available to management and are subject to various risks and uncertainties, including but not limited to those described in Peoples Bancorp of North Carolina, Inc.’s annual report on Form 10-K for the year ended December 31, 2014, under “General Description of Business” and otherwise in the Company’s reports and filings.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

10/19/2015

Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK), the parent company of Peoples Bank, reported third quarter earnings results with highlights as follows:

Third Quarter Highlights:

  • Net earnings were $2.5 million or $0.45 basic and diluted net earnings per share for the three months ended September 30, 2015, as compared to $2.4 million or $0.43 basic and diluted basic and diluted net earnings per share for the same period one year ago.

Year to date Highlights:

  • Net earnings were $7.4 million or $1.34 basic net earnings per share and $1.32 diluted net earnings per share for the nine months ended September 30, 2015, as compared to $7.6 million or $1.35 basic net earnings per share and $1.34 diluted net earnings per share for the same period one year ago.
  • Non-performing assets declined to $10.8 million or 1.0% of total assets at September 30, 2015, compared to $12.6 million or 1.2% of total assets at September 30, 2014.
  • Total loans increased $34.2 million to $684.8 million at September 30, 2015, compared to $650.6 million at September 30, 2014.
  • Core deposits were $771.4 million or 95.7% of total deposits at September 30, 2015, compared to $757.2 million or 92.7% of total deposits at September 30, 2014.

Lance A. Sellers, President and Chief Executive Officer, attributed the increase in third quarter earnings to an increase in net interest income, which was partially offset by an increase in non-interest expense.

Read the complete earnings release here.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

Company Release - 8/21/2015

NEWTON, N.C., August 21, 2015 -- The Board of Directors of Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK) declared a cash dividend for the third quarter of 2015 in the amount of $0.08 per share at their most recent meeting. This is an increase of $0.02 per share from the regular quarterly cash dividend paid in June 2015, of $0.06 per share. The cash dividend will be paid on September 15, 2015 to shareholders of record September 3, 2015.

Shareholders are encouraged to enroll in the Company’s Dividend Reinvestment and Stock Purchase Plan. For details, you may contact Krissy Price at 828-464-5620 or 800-948-7195 or you may email any questions to our transfer agent, Broadridge Corporate Issuer Solutions, Inc. at .

Peoples Bank, the wholly-owned subsidiary of Peoples Bancorp of North Carolina, Inc. operates 21 offices entirely in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Union, Iredell and Wake Counties. The Bank also operates loan production offices in Lincoln and Durham Counties. The Company’s common stock is publicly traded and is quoted on the Nasdaq Global Market under the symbol “PEBK.”.

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 are based on information currently available to management and are subject to various risks and uncertainties, including but not limited to those described in Peoples Bancorp of North Carolina, Inc.’s annual report on Form 10-K for the year ended December 31, 2014, under “General Description of Business” and otherwise in the Company’s reports and filings.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

7/27/2015

Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK), the parent company of Peoples Bank, reported second quarter earnings results with highlights as follows:

  • Net earnings were $5.0 million or $0.89 basic net earnings per share and $0.88 diluted net earnings per share for the six months ended June 30, 2015, as compared to $5.1 million or $0.91 basic and diluted net earnings per share for the same period one year ago.
  • Non-performing assets declined to $11.1 million or 1.1% of total assets at June 30, 2015, compared to $14.8 million or 1.4% of total assets at June 30, 2014.
  • Total loans increased $33.5 million to $666.8 million at June 30, 2015, compared to $633.3 million at June 30, 2014.
  • Core deposits were $768.3 million or 95.0% of total deposits at June 30, 2015, compared to $751.8 million or 92.7% of total deposits at June 30, 2014.

Lance A. Sellers, President and Chief Executive Officer, attributed the increase in second quarter earnings to a decrease in the provision for loan losses and an increase in non-interest income, which were partially offset by a decrease in net interest income and an increase in non-interest expense.

Read the complete earnings release here.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

Company Release - 5/22/2015

NEWTON, N.C., May 22, 2015 -- The Board of Directors of Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK) declared a cash dividend for the second quarter of 2015 in the amount of $0.06 per share at their most recent meeting. The cash dividend will be paid on June 15, 2015 to shareholders of record June 3, 2015.

Shareholders are encouraged to enroll in the Company’s Dividend Reinvestment and Stock Purchase Plan. For details, you may contact Krissy Price at 828-464-5620 or 800-948-7195 or you may email any questions to our transfer agent, Broadridge Corporate Issuer Solutions, Inc. at .

Peoples Bank, the wholly-owned subsidiary of Peoples Bancorp of North Carolina, Inc. operates 21 offices entirely in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Union, Iredell and Wake Counties. The Bank also operates loan production offices in Lincoln and Durham Counties. The Company’s common stock is publicly traded and is quoted on the Nasdaq Global Market under the symbol “PEBK.”.

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 are based on information currently available to management and are subject to various risks and uncertainties, including but not limited to those described in Peoples Bancorp of North Carolina, Inc.’s annual report on Form 10-K for the year ended December 31, 2014, under “General Description of Business” and otherwise in the Company’s reports and filings.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

4/20/2015

Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK), the parent company of Peoples Bank, reported first quarter earnings results with highlights as follows:

  • Net earnings available to common shareholders were $2.3 million or $0.41 basic and diluted net earnings per common share for the three months ended March 31, 2015, as compared to $2.6 million or $0.46 basic and diluted net earnings per common share for the same period one year ago.
  • Average outstanding principal balance of loans increased $37.2 million to $654.7 million for the three months ended March 31, 2015 compared to $617.5 million for the three months ended March 31, 2014.
  • Non-performing assets declined to $12.4 million or 1.2% of total assets at March 31, 2015, compared to $14.9 million or 1.4% of total assets at March 31, 2014.
  • Total loans increased $42.5 million to $660.5 million at March 31, 2015, compared to $618.0 million at March 31, 2014.
  • Core deposits were $786.2 million or 94.73% of total deposits at March 31, 2015, compared to $748.3 million or 92.3% of total deposits at March 31, 2014.

Lance A. Sellers, President and Chief Executive Officer, attributed the decrease in first quarter earnings to an increase in the provision for loan losses and an increase in non-interest expense, which were partially offset by an increase in non-interest income and an increase in net interest income.

Read the complete earnings release here.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

Company Release - 2/20/2015

NEWTON, N.C., Feb. 20, 2015 -- The Board of Directors of Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK) declared a cash dividend for the first quarter of 2015 in the amount of $0.06 per share at their most recent meeting. The cash dividend will be paid on March 16, 2015 to shareholders of record March 3, 2015.

Shareholders are encouraged to enroll in the Company’s Dividend Reinvestment and Stock Purchase Plan. For details, you may contact Krissy Price at 828-464-5620 or 800-948-7195 or you may email any questions to our transfer agent, Broadridge Corporate Issuer Solutions, Inc. at .

Peoples Bank, the wholly-owned subsidiary of Peoples Bancorp of North Carolina, Inc. operates 21 offices entirely in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Union, Iredell and Wake Counties. The Company’s common stock is publicly traded and is quoted on the Nasdaq Global Market under the symbol “PEBK”.

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 are based on information currently available to management and are subject to various risks and uncertainties, including but not limited to those described in Peoples Bancorp of North Carolina, Inc.’s annual report on Form 10-K for the year ended December 31, 2013, under “General Description of Business” and otherwise in the Company’s reports and filings.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

1/26/2015

Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK), the parent company of Peoples Bank, reported fourth quarter and annual earnings results with highlights as follows:

  • Net earnings were $1.8 million or $0.32 basic and diluted net earnings per share for the three months ended December 31, 2014, as compared to $1.4 million or $0.25 basic and diluted net earnings per share, before adjustment for preferred stock dividends and accretion, for the same period one year ago.
  • Net earnings available to common shareholders were $1.8 million or $0.32 basic and diluted net earnings per common share for the three months ended December 31, 2014, as compared to $1.2 million or $0.21 basic and diluted net earnings per common share, for the same period one year ago.
  • Core earnings, as calculated in the Core Earnings Analysis table, were $2.7 million for the three months ended December 31, 2014, compared to $2.0 million for the three months ended December 31, 2013.
  • Average outstanding principal balance of loans increased $31.5 million to $648.4 million for the three months ended December 31, 2014 compared to $616.9 million for the three months ended December 31, 2013.

Lance A. Sellers, President and Chief Executive Officer, attributed the increase in fourth quarter earnings to an increase in net interest income, a decrease in the provision for loan losses and an increase in non-interest income, which were partially offset by an increase in non-interest expense.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

Media Contact

Kim Boyd
Senior Vice President
828-464-5620
800-948-7195


2015 Annual Report download (643kb PDF)


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