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 reported Q1 2023 net earnings of $3.2 million or $0.58 per share, down from $3.5 million or $0.63 per share year-over-year. Cash dividends increased slightly to $0.34 per share. Total loans rose to $1.1 billion, while non-performing assets remained stable at 0.23% of total assets. Net interest income surged to $14.3 million, driven by higher interest income, despite an increase in interest expense. Non-interest income, however, plummeted to $3.6 million due to losses on securities sales. Total assets were $1.6 billion with shareholders' equity increasing to $114.8 million. The provision for credit losses rose to $224,000, reflecting a cautious approach to potential economic downturns.
Peoples Bancorp of North Carolina (NASDAQ:PEBK) has authorized a stock repurchase program of up to $2 million. This decision comes in light of the company's robust balance sheet, which had assets of $1.6 billion and stockholder's equity of $105.2 million as of December 31, 2022. The repurchase will take place in compliance with securities laws and may occur in the open market or privately. Management will decide on the timing and amount based on market conditions. CEO Lance Sellers emphasized that this plan aims to enhance shareholder value by effectively utilizing capital.
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