Welcome to our dedicated page for People Bncp Nc news (Ticker: PEBK), a resource for investors and traders seeking the latest updates and insights on People Bncp Nc stock.
People Bancorp of North Carolina Inc (PEBK) provides essential financial services through its subsidiary Peoples Bank, serving communities across multiple North Carolina regions. This news hub offers investors and stakeholders centralized access to official announcements and market-moving developments.
Track critical updates including quarterly earnings reports, strategic initiatives, leadership changes, and regulatory filings. Our curated collection ensures timely access to press releases detailing loan portfolio performance, dividend declarations, and community banking expansions.
Key focus areas include updates on commercial lending activities, deposit growth trends, and credit quality metrics. Users will find information about branch network developments, digital banking enhancements, and corporate governance matters relevant to regional banking operations.
Bookmark this page for streamlined monitoring of PEBK's financial trajectory. Check regularly for verified updates directly from company sources, ensuring informed decision-making based on authoritative information.
Peoples Bancorp of North Carolina (Nasdaq:PEBK) has announced a significant leadership change. Bill Cable will assume the role of President and CEO on September 19, 2024, following the retirement of Lance Sellers in early 2025. Cable, who has been with Peoples Bank since 1995 and served as Chief Operating Officer since 2000, brings extensive banking experience to the position. Under Sellers' 12-year tenure as CEO, the bank's assets grew from $1 billion to $1.6 billion, achieving 5 years of record earnings and providing shareholders a total return of over 380%. The Board of Directors expressed confidence in Cable's leadership abilities to continue the bank's success as a strong, independent community bank.
Peoples Bancorp of North Carolina (NASDAQ:PEBK) reported second quarter 2024 results with net earnings of $4.9 million or $0.93 per share, compared to $4.8 million or $0.88 per share in the same period last year. Key highlights include:
- Net interest margin decreased to 3.34% from 3.56% year-over-year
- Total loans increased to $1.11 billion from $1.09 billion at year-end 2023
- Total deposits grew to $1.48 billion from $1.39 billion at year-end 2023
- Non-performing assets were 0.25% of total assets, slightly up from 0.24% at year-end 2023
- Core deposits increased to 90.02% of total deposits from 89.30% at year-end 2023
The increase in earnings was attributed to higher non-interest income and lower provision for credit losses, partially offset by decreased net interest income and increased non-interest expenses.
Peoples Bancorp of North Carolina (NASDAQ:PEBK) announced the authorization of a stock repurchase program valued at up to $2 million. The company's Board of Directors approved the plan, set to enhance shareholder value by utilizing the company's strong balance sheet and capital position. As of March 31, 2024, the company reported assets of $1.7 billion and stockholder's equity of $121.1 million. Purchase decisions under this program will be driven by market conditions and other factors, with flexibility to suspend the program if necessary. Peoples Bank operates 16 banking offices across various counties in North Carolina and has loan production offices in additional counties.
Peoples Bancorp of North Carolina, headquartered in Newton, NC, announced a regular cash dividend of $0.19 per share for the second quarter of 2024. This dividend will be paid on June 14, 2024, to shareholders recorded by June 3, 2024. The company encourages shareholders to enroll in its Dividend Reinvestment and Stock Purchase Plan for more benefits. Peoples Bank, a subsidiary of Peoples Bancorp, operates 17 banking offices across North Carolina and several loan production offices in key counties. Shares of Peoples Bancorp are traded on the Nasdaq Global Market under the symbol 'PEBK'.
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