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Overview
People Bancorp of North Carolina Inc (PEBK) is a state‐chartered banking institution operating as the parent company of Peoples Bank. Specializing in commercial banking and offering a diversified loan portfolio, the bank provides a comprehensive suite of products and services for both personal and commercial banking needs. The company is deeply rooted in its communities and is known for its conservative asset management practices and consistent dividend income derived from the Bank's capital stock.
Core Business and Services
At its heart, Peoples Bank is a full‐service community bank that caters to its local clientele by offering a range of financial services, including deposit accounts, loan products, and various transactional services. With branches and loan production offices strategically located in numerous North Carolina cities, the bank emphasizes personal relationships and local expertise. Its services extend to both individual consumers and business clients, ensuring that a broad range of financial needs is met under one roof.
Operational Model and Revenue Streams
The operational strength of People Bancorp of North Carolina is underpinned by a robust revenue model focused on net interest income, fee-based revenue, and regular dividend payouts. The bank sustains its operations through a carefully diversified loan portfolio that minimizes risk by excluding foreign and largely agricultural loans, thereby concentrating on stable, local market segments. This model is reinforced by maintaining strong core deposits and low non-performing asset ratios.
Market Position and Community Focus
People Bancorp of North Carolina is positioned as a reliable and community-centric financial institution. Its strategic placement within North Carolina—notably in cities such as Lincolnton, Hickory, Charlotte, and Raleigh—enables the bank to build long-lasting relationships with local residents, small businesses, and regional commercial entities. The company's disciplined approach to risk management and revenue generation underscores its commitment to community and client financial well-being.
Risk Management and Credit Quality
A key aspect of its operations is a cautious approach to risk management. The bank maintains a diversified loan structure with a low percentage of non-performing assets and an allowance for credit losses that reflects robust internal processes for evaluating loan risks. This careful management strategy provides assurance to depositors and stakeholders about the stability and prudence of its credit practices.
Industry Expertise and Financial Integrity
Recognized for its deep expertise in the banking industry, People Bancorp of North Carolina employs financial management practices that merge traditional community banking values with modern financial analysis. The careful balance of interest income generation, fee-based services, and conservative credit risk management has earned the bank a reputation for reliability and trustworthiness across North Carolina’s competitive financial landscape.
Summary
- Full-Service Operations: Providing comprehensive personal and commercial banking solutions.
- Diversified Loan Portfolio: Focused on local market segments with low exposure to foreign and agricultural loans.
- Community-Centric: Deeply integrated into local regions, offering personalized service and financial stability.
- Conservative Asset Management: Emphasizing low non-performing asset ratios and sound credit practices.
- Revenue Generation: Driven primarily by interest income and consistent dividend payouts.
This comprehensive overview provides a detailed insight into People Bancorp of North Carolina Inc, highlighting its place within the competitive landscape of community banking and its commitment to operational excellence and financial prudence.
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.
Peoples Bancorp of North Carolina (Nasdaq: PEBK) declared a cash dividend of $0.18 per share for Q2 2022, payable on June 15, 2022, to shareholders of record on June 3, 2022. Shareholders are encouraged to join the Dividend Reinvestment and Stock Purchase Plan. Peoples Bank operates 17 banking offices in North Carolina and offers loan production offices in four counties. The company continues to navigate forward-looking statements, highlighting potential risks and uncertainties in its operations.
Peoples Bancorp of North Carolina (NASDAQ:PEBK) reported first-quarter 2022 net earnings of $3.5 million, or $0.63 per share, down from $4.1 million, or $0.73 per share, year-over-year. The decline is attributed to decreased net interest income, increased provision for loan losses, and higher non-interest expenses. Total loans increased to $889.8 million despite a reduction in PPP loans. Non-interest income rose to $7.0 million, driven by appraisal management fees. The Bank's total assets grew to $1.7 billion, while shareholders' equity fell to $125.4 million due to unrealized losses on investment securities.
Peoples Bancorp of North Carolina, Inc. (Nasdaq: PEBK) has announced a stock repurchase program, authorizing up to $2 million to buy back its common stock. This decision reflects the company's strong balance sheet and aims to enhance shareholder value. As of December 31, 2021, Peoples Bancorp reported assets of $1.6 billion and stockholder's equity of $142.4 million. Additionally, the company declared a regular cash dividend of $0.18 per share, payable on March 15, 2022, reinforcing its commitment to returning value to shareholders.
Peoples Bancorp of North Carolina (NASDAQ:PEBK) reported impressive financial results for Q4 2021 and the full year. Q4 net earnings rose to $3.0 million ($0.55/share) from $1.9 million ($0.34/share) YoY. Full year net earnings reached a record $15.1 million ($2.71/share), up from $11.4 million ($2.01/share) in 2020. The bank reported a decrease in net interest income due to lower loan volumes and fees, alongside a recovery in the provision for loan losses. Total assets increased to $1.6 billion, with core deposits rising to $1.4 billion.
The Board of Directors of Peoples Bancorp of North Carolina (Nasdaq: PEBK) announced a special cash dividend of $0.15 per share, payable on February 16, 2022, to shareholders of record by February 4, 2022. Shareholders are encouraged to participate in the Dividend Reinvestment and Stock Purchase Plan for further investment opportunities. Peoples Bank operates 17 banking offices across several North Carolina counties. This announcement emphasizes financial stability and commitment to returning value to shareholders.
Peoples Bancorp of North Carolina, Inc. (Nasdaq: PEBK) has declared a cash dividend of $0.17 per share for Q4 2021. This dividend will be paid on December 15, 2021 to shareholders who are on record by December 3, 2021. Shareholders can enroll in the Dividend Reinvestment and Stock Purchase Plan for additional investment opportunities. The Company operates 17 banking offices solely in North Carolina and is dedicated to serving its community.
Peoples Bancorp of North Carolina (NASDAQ:PEBK) reported third-quarter earnings of $3.4 million, or $0.61 per share, a decline from $4.5 million, or $0.80 per share, year-over-year. Year-to-date earnings rose to $12.1 million, or $2.16 per share, up from $9.4 million, or $1.67 per share, compared to the previous year.
Key factors included a decrease in net interest income, down to $10.6 million, primarily due to reduced loan interest income. Core deposits increased to $1.4 billion. Non-performing assets reduced to $2.7 million.
The Board of Directors of Peoples Bancorp of North Carolina, Inc. announced a cash dividend of $0.17 per share for the third quarter of 2021. This dividend will be paid on September 15, 2021, to shareholders recorded by September 3, 2021. Shareholders are encouraged to enroll in the Company's Dividend Reinvestment and Stock Purchase Plan for more benefits. Peoples Bank operates 17 banking offices in North Carolina, and its stock is traded on Nasdaq under the symbol PEBK.
Peoples Bancorp of North Carolina, Inc. (NASDAQ: PEBK) reported second quarter 2021 net earnings of $4.6 million, or $0.82 per share, a significant increase from $2.6 million the previous year. Year-to-date earnings also rose to $8.7 million, up from $4.9 million. The bank originated 72 SBA PPP loans totaling $3.3 million in Q2 and 419 loans worth $29.1 million in the first half. Net interest income reached $11.7 million for the quarter, driven by increased loan fees. Core deposits grew to $1.4 billion, reflecting a strong financial position amid the ongoing economic recovery.
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