-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MXx14J3p7ws829SWJTCfnyn1Jnmv6GssEUBw6Ije81JdTTT/GSDuf8ETGbrqLwcn wG4XgiBt9Hk7z9B3lRdZjQ== 0001015402-01-503783.txt : 20020412 0001015402-01-503783.hdr.sgml : 20020412 ACCESSION NUMBER: 0001015402-01-503783 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20011210 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20011211 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PEOPLES BANCORP OF NORTH CAROLINA INC CENTRAL INDEX KEY: 0001093672 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 562132396 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-27205 FILM NUMBER: 1811177 BUSINESS ADDRESS: STREET 1: 218 SOUTH MAIN STREET CITY: NEWTON STATE: NC ZIP: 28658 BUSINESS PHONE: 8284645620 MAIL ADDRESS: STREET 1: 218 SOUTH MAIN STREET CITY: NEWTON STATE: NC ZIP: 28658 8-K 1 doc1.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (date of earliest event reported): DECEMBER 10, 2001 PEOPLES BANCORP OF NORTH CAROLINA, INC. --------------------------------------- (Exact Name of Registrant as Specified in Its Charter) NORTH CAROLINA 000-27205 56-2132396 ---------------------------- -------------------- ------------------- (State or Other Jurisdiction (Commission File No.) (IRS Employer of Incorporation) Identification No.) 518 WEST C STREET NEWTON, NORTH CAROLINA 28658 ---------------------- ----------- (Address of Principal Executive Offices) (Zip Code) (828) 464-5620 -------------- (Registrant's Telephone Number, Including Area Code) ITEM 5. OTHER EVENTS On December 10, 2001, Peoples Bancorp of North Carolina, Inc. issued a press release announcing that fourth quarter earnings are anticipated to be lower than the Company's previous expectations. A copy of the press release announcing the Company's fourth quarter earnings expectations is attached hereto as Exhibit (99)(a) and is incorporated by reference herein. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits (99)(a) Press Release, dated December 10, 2001 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PEOPLES BANCORP OF NORTH CAROLINA, INC. Date: December 11, 2001 By: /s/ A. Joseph Lampron --------------------------------------- A. Joseph Lampron Executive Vice President and Chief Executive Officer EXHIBIT INDEX ------------- Exhibit No. Description Sequential Page No. - ------------ ----------- ------------------- (99)(a) Press Release, dated December 10, 2001 4 This Form 8-K contains forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, changes in interest rate environment, management's business strategy, national, regional, and local market conditions and legislative and regulatory conditions. Readers should not place undue reliance on forward-looking statements, which reflect management's view only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. Readers should also carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission. EX-99.(A) 3 doc2.txt NEWS RELEASE DECEMBER 10, 2001 CONTACT: TONY W. WOLFE PRESIDENT AND CHIEF EXECUTIVE OFFICER A. JOSEPH LAMPRON EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER 828-464-5620, FAX 828-465-6780 FOR IMMEDIATE RELEASE - --------------------- PEOPLES BANCORP LOWERS FOURTH QUARTER EARNINGS EXPECTATIONS ----------------------------------------------------------- Peoples Bancorp of North Carolina, Inc., the parent company of Peoples Bank, announced that earnings for the fourth quarter ending December 31, 2001, are anticipated to be below the Company's previous expectations. Fourth quarter net income is now expected to be in the range of $450,000 to $600,000, resulting in basic and diluted earnings per share for the quarter in the range of $0.14 to $0.19. The revised earnings per share expectations represent a reduction of 60% to 46% from prior analyst forecasts. Net earnings for the year ending December 31, 2001, including securities gains, are expected to be in the range of $4.55 million to $4.70 million, resulting in basic and diluted earnings per share in the range of $1.41 to $1.46, approximately 4% to 1% below previous analyst expectations. Actual results for the quarter and year ending December 31, 2001 will be reported in January 2002. Tony W. Wolfe, President and Chief Executive Officer, attributed the projected reduction in earnings primarily to higher than expected charge-offs of certain non-performing loans. Wolfe stated, "Declining economic conditions contributed to charge-offs on two large loans, requiring an increase in the provision for loan losses." PEOPLES BANCORP LOWERS FOURTH QUARTER EARNINGS EXPECTATIONS - PAGE 2 - -------------------------------------------------------------------- Peoples Bank operates nine offices throughout Catawba County, one office in Alexander County and two offices in Lincoln County. The Company's common stock is publicly traded over the counter and is quoted on the Nasdaq National Market under the symbol "PEBK." Scott and Stringfellow, Inc., IJL/Wachovia, Ryan, Beck & Co., and Trident Securities, Inc. are market makers for the Company's shares. 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, 2000, UNDER "SPECIAL CAUTIONARY NOTICE REGARDING FORWARD LOOKING STATEMENTS" AND OTHERWISE IN THE COMPANY'S REPORTS AND FILINGS. -----END PRIVACY-ENHANCED MESSAGE-----