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.
Peoples Bancorp of North Carolina, Inc. (NASDAQ: PEBK) is the parent company of Peoples Bank, a state-chartered commercial bank operating entirely in North Carolina. This news page aggregates company-issued announcements and earnings releases so readers can review how the bank’s financial condition, lending activities, and capital decisions are described over time.
Recent news for PEBK includes quarterly and annual earnings releases that discuss net earnings, net interest income, non-interest income, and non-interest expense. These releases provide detail on loan growth, deposit levels, non-performing assets, and the allowance for credit losses on loans and unfunded commitments. They also describe the impact of Federal Reserve interest rate changes on interest income, interest expense, and net interest margin.
Investors following PEBK can also find regular cash dividend declarations, a special cash dividend announcement, and information about a stock repurchase program authorized by the Board of Directors. These items highlight how the company approaches shareholder returns through dividends, a Dividend Reinvestment and Stock Purchase Plan, and potential share repurchases.
Other disclosures in the company’s news include commentary on appraisal management fee income and expense, legal matters such as an eminent domain acquisition of a branch property by the North Carolina Department of Transportation, and tax-related items involving the North Carolina Department of Revenue. By reviewing these news items together, readers can see how Peoples Bancorp of North Carolina, Inc. describes its operations, risk management, and capital position. Bookmark this page to quickly access new PEBK earnings releases, dividend announcements, and other company communications as they are published.
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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.
Peoples Bancorp of North Carolina has announced a regular cash dividend of $0.19 per share for the first quarter of 2023. This dividend will be disbursed on March 15, 2023, to shareholders of record as of March 3, 2023. The company encourages participation in its Dividend Reinvestment and Stock Purchase Plan. Peoples Bank operates 17 banking offices across North Carolina and has loan production offices in multiple counties. The company is publicly traded on Nasdaq under the symbol PEBK. Forward-looking statements in the release highlight potential risks based on management’s current information.
Peoples Bancorp of North Carolina (NASDAQ:PEBK) reported a strong performance for Q4 and full year 2022. Net earnings for Q4 reached $4.1 million ($0.76/share), up from $3.0 million ($0.55/share) year-over-year. For the full year, net earnings were $16.1 million ($2.94/share), compared to $15.1 million ($2.71/share) in 2021. Despite a decline in PPP loan fee income ($948,000 vs. $3.4 million), total loans grew to $1.0 billion. Non-performing assets increased slightly to 0.23% of total assets. The net interest margin improved to 3.22%, reflecting higher interest rates.
Peoples Bancorp of North Carolina, Inc. (Nasdaq: PEBK) has declared a special cash dividend of $0.15 per share, payable on February 15, 2023, to shareholders on record as of February 3, 2023. Shareholders are encouraged to participate in the Dividend Reinvestment and Stock Purchase Plan. The company operates 17 banking offices across various counties in North Carolina and has loan production offices in multiple locations. Forward-looking statements in the release highlight potential risks, which have been outlined in the company's annual report.
Peoples Bancorp of North Carolina, Inc. (Nasdaq: PEBK) has declared a cash dividend of $0.18 per share for the fourth quarter of 2022, scheduled for payment on December 15, 2022, to shareholders recorded by December 2, 2022. Shareholders are encouraged to take part in the Dividend Reinvestment and Stock Purchase Plan. Operating 17 branches in North Carolina, the bank actively serves communities in multiple counties, reflecting stable operations within the region.
Peoples Bancorp of North Carolina, Inc. (PEBK) reported a net earnings increase of 55.9% to $5.3 million ($0.96/share) for Q3 2022, up from $3.4 million ($0.61/share) last year. Year-to-date earnings were $12.0 million, down slightly from $12.1 million. Total loans rose to $1.0 billion despite a reduction in PPP loans. Non-performing assets increased to $3.7 million (0.22% of total assets), and net interest income grew to $13.8 million. Dividends increased to $0.69/share year-to-date. Total assets rose to $1.7 billion, while shareholders' equity decreased to $103.9 million due to unrealized losses on securities.
Peoples Bancorp of North Carolina has declared a cash dividend of $0.18 per share for the third quarter of 2022. Shareholders of record as of September 2, 2022, will receive the payment on September 15, 2022. This regular dividend reflects the Company's ongoing commitment to returning value to its shareholders. Additionally, shareholders are encouraged to participate in the Dividend Reinvestment and Stock Purchase Plan for further investment opportunities. Peoples Bank operates 17 offices across North Carolina, enhancing local banking accessibility.
Peoples Bancorp of North Carolina (NASDAQ:PEBK) reported second-quarter 2022 earnings of $3.2 million, or $0.59 per share, a decline from $4.6 million or $0.82 per share in Q2 2021. Year-to-date net earnings fell to $6.7 million or $1.21 per share, down from $8.7 million or $1.55 per share a year prior. Key factors include a decrease in net interest income, an increase in the provision for loan losses, and rising non-interest expenses. Total loans reached $959.5 million, a significant increase from $884.9 million at the end of 2021, while total deposits grew to $1.5 billion.