0001654954-24-009217.txt : 20240722 0001654954-24-009217.hdr.sgml : 20240722 20240722091027 ACCESSION NUMBER: 0001654954-24-009217 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240722 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240722 DATE AS OF CHANGE: 20240722 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PEOPLES BANCORP OF NORTH CAROLINA INC CENTRAL INDEX KEY: 0001093672 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] ORGANIZATION NAME: 02 Finance 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: 241129944 BUSINESS ADDRESS: STREET 1: 518 WEST C STREET STREET 2: PO BOX 467 CITY: NEWTON STATE: NC ZIP: 28658-4007 BUSINESS PHONE: 8284645620 MAIL ADDRESS: STREET 1: PO BOX 467 CITY: NEWTON STATE: NC ZIP: 28658-0467 8-K 1 pebk_8k.htm FORM 8-K pebk_8k.htm

 

 

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): July 22, 2024

 

Peoples Bancorp of North Carolina, Inc.

(Exact Name of Registrant as Specified in Its Charter)

 

North Carolina

(State or Other Jurisdiction of Incorporation)

 

000-27205

 

56-2132396

(Commission File No.)

 

(IRS Employer 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) 

  

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 

Peoples Bancorp of North Carolina, Inc.

 

INDEX 

 

 

Page

Item 2.02 – Results of Operations and Financial Condition

3

 

 

Item 9.01 – Financial Statements and Exhibits

3

 

 

Signatures

4

 

 

Exhibit (99)(a) Press Release dated July 22, 2024

 

 

 
2

 

 

Item 2.02. Results of Operations and Financial Condition

 

On July 22, 2024, Peoples Bancorp of North Carolina, Inc. (the “Company”) issued a press release announcing second quarter 2024 earnings results. The press release contains forward-looking statements regarding the Company and includes cautionary language identifying important factors that could cause actual results to differ materially from those anticipated. The press release is furnished as Exhibit 99(a). Consequently, it is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section. Such materials may only be incorporated by reference into another filing under the Exchange Act or the Securities Act of 1933 if such subsequent filing specifically references this Form 8-K.

 

Item 9.01. Financial Statements and Exhibits

 

(d) Exhibits

 

 

(99)(a)

Press Release dated July 22, 2024

 

Disclosure about forward-looking statements

 

Statements made in this Form 8-K, 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 involve risks and uncertainties and are based on the beliefs and assumptions of management and on the information available to management at the time that this report was prepared.  These statements can be identified by the use of words like “expect,” “anticipate,” “estimate,” and “believe,” variations of these words and other similar expressions.  Readers should not place undue reliance on forward-looking statements as a number of important factors could cause actual results to differ materially from those 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.

 

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.

 

 
3

 

 

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: July 22, 2024

By:

/s/ Jeffrey N. Hooper

 

 

Jeffrey N. Hooper

 

 

Executive Vice President and Chief Financial Officer

 

 

 
4

 

 EX-99.A 2 pebk_ex99a.htm PRESS RELEASE pebk_ex99a.htm

EXHIBIT 99(a)

 

EARNINGS RELEASE

July 22, 2024

 

Contact:

Lance A. Sellers

 

President and Chief Executive Officer

 

 

 

Jeffrey N. Hooper

Executive Vice President and Chief Financial Officer

 

 

 

828-464-5620, Fax 828-465-6780

 

For Immediate Release

 

PEOPLES BANCORP ANNOUNCES SECOND QUARTER 2024 RESULTS

 

Peoples Bancorp of North Carolina, Inc. (NASDAQ: PEBK) (the “Company”), the parent company of Peoples Bank (the “Bank”), reported second quarter 2024 results with highlights as follows:

 

Second quarter 2024 highlights:

 

 

·

Net earnings were $4.9 million or $0.93 per share and $0.89 per diluted share for the three months ended June 30, 2024, compared to $4.8 million or $0.88 per share and $0.85 per diluted share for the same period one year ago.

 

·

Net interest margin was 3.34% for the three months ended June 30, 2024, compared to 3.56% for the three months ended June 30, 2023.

 

Year to date highlights:

 

 

·

Net earnings were $8.8 million or $1.67 per share and $1.61 per diluted share for the six months ended June 30, 2024, as compared to $8.0 million or $1.46 per share and $1.41 per diluted share for the same period one year ago.

 

·

Cash dividends were $0.54 per share during the six months ended June 30, 2024, compared to $0.53 per share for the prior year period.

 

·

Total loans were $1.11 billion at June 30, 2024, compared to $1.09 billion at December 31, 2023.

 

·

Non-performing assets were $4.2 million or 0.25% of total assets at June 30, 2024, compared to $3.9 million or 0.24% of total assets at December 31, 2023.

 

·

Total deposits were $1.48 billion at June 30, 2024, compared to $1.39 billion at December 31, 2023.

 

·

Core deposits, a non-GAAP measure, were $1.33 billion or 90.02% of total deposits at June 30, 2024, compared to $1.24 billion or 89.30% of total deposits at December 31, 2023.

 

·

Net interest margin was 3.34% for the six months ended June 30, 2024, compared to 3.67% for the six months ended June 30, 2023.

 

Net earnings were $4.9 million or $0.93 per share and $0.89 per diluted share for the three months ended June 30, 2024, compared to $4.8 million or $0.88 per share and $0.85 per diluted share for the prior year period.  Lance A. Sellers, President and Chief Executive Officer, attributed the increase in second quarter net earnings to an increase in non-interest income and a decrease in the provision for credit losses,which were partially offset by a decrease in net interest income and an increase in non-interest expense, compared to the prior year period, as discussed below. 

 

Net interest income was $13.4 million for the three months ended June 30, 2024, compared to $13.8 million for the three months ended June 30, 2023.  The decrease in net interest income is due to a $2.8 million increase in interest expense, partially offset by a $2.5 million increase in interest income.  The increase in interest income reflects a $1.9 million increase in interest income and fees on loans, a $208,000 increase in interest income on balances due from banks and a $359,000 increase in interest income on investment securities.  The increase in interest income and fees on loans is primarily due to an increase in total loans and rate increases by the Federal Reserve.  The increase in interest income on balances due from banks is also due to an increase in average balances outstanding and rate increases by the Federal Reserve.  The increase in interest income on investment securities is primarily due to increases on yields on variable rate securities and higher yields on securities purchased since June 30, 2023.  The increase in interest expense is primarily due to an increase in time deposits and an increase in rates paid on interest-bearing liabilities.  Net interest income after the provision for credit losses was $13.9 million for the three months ended June 30, 2024, compared to $13.4 million for the three months ended June 30, 2023.  The provision for credit losses for the three months ended June 30, 2024 was a recovery of $468,000, compared to an expense of $375,000 for the three months ended June 30, 2023.  The decrease in the provision for credit losses is primarily attributable to a reduction in reserves on construction loans, which was primarily due to a decrease in construction loan balances outstanding composed mostly of about $12.7 million in loans being paid off or transitioning to permanent financing in other loan categories within the portfolio with lower loss rates than the construction pool during the three months ended June 30, 2024.  In addition, the high rate environment is slowing additional construction activity resulting in a decrease in unfunded construction loan commitments with about $4.9 million in new commitments offset by the $9.9 million in commitments being utilized to fund loan balances or being closed-out with unused amounts for the three months ended June 30, 2024.

 

 

 

  

Non-interest income was $7.5 million for the three months ended June 30, 2024, compared to $6.4 million for the three months ended June 30, 2023.  The increase in non-interest income is primarily attributable to a  $591,000 increase in appraisal management fee income due to an increase in appraisal volume and a $444,000 increase in miscellaneous non-interest income primarily due to an increase in income on Small Business Investment Company (SBIC) investments.

 

Non-interest expense was $15.1 million for the three months ended June 30, 2024, compared to $13.6 million for the three months ended June 30, 2023.  The increase in non-interest expense is primarily attributable to a $541,000 increase in salaries and employee benefits expense primarily due to increases in salary and restricted stock expenses, a $474,000 increase in appraisal management fee expense due to an increase in appraisal volume and a $373,000 increase in other non-interest expense primarily due to increases in consulting fees and debit card expense.

 

Net earnings were $8.8 million or $1.67 per share and $1.61 per diluted share for the six months ended June 30, 2024, compared to $8.0 million or $1.46 per share and $1.41 per diluted share for the prior year period.  The increase in second quarter net earnings is primarily attributable to an increase in non-interest income and a decrease in the provision for credit losses, which were partially offset by a decrease in net interest income and an increase in non-interest expense, compared to the prior year period, as discussed below. 

 

Net interest income was $26.7 million for the six months ended June 30, 2024, compared to $28.1 million for the six months ended June 30, 2023.  The decrease in net interest income is due to a $6.9 million increase in interest expense, partially offset by a $5.5 million increase in interest income.  The increase in interest income reflects a $4.2 million increase in interest income and fees on loans, a $732,000 increase in interest income on balances due from banks and a $589,000 increase in interest income on investment securities.  The increase in interest income and fees on loans is primarily due to an increase in total loans and rate increases by the Federal Reserve.  The increase in interest income on balances due from banks is also due to an increase in average balances outstanding and rate increases by the Federal Reserve.  The increase in interest income on investment securities is primarily due to increases on yields on variable rate securities and higher yields on securities purchased since June 30, 2023.  The increase in interest expense is primarily due to an increase in time deposits and an increase in rates paid on interest-bearing liabilities.  Net interest income after the provision for credit losses was $27.1 million for the six months ended June 30, 2024, compared to $27.5 million for the six months ended June 30, 2023.  The provision for credit losses for the six months ended June 30, 2024 was a recovery of $377,000, compared to an expense of $599,000 for the six months ended June 30, 2023.  The decrease in the provision for credit losses is primarily attributable to a reduction in reserves on construction loans, which was primarily due to a decrease in construction loan balances outstanding composed mostly of about $29.1 million in loans being paid off or transitioning to permanent financing in other loan categories within the portfolio with lower loss rates than the construction pool during the first six months ending June 30, 2024.  In addition, the high rate environment is slowing additional construction activity resulting in a decrease in unfunded construction loan commitments with about $12.4 million in new commitments offset by $19.5 million in commitments being utilized to fund loan balances or being closed-out with unused amounts for the six months ended June 30, 2024.

 

Non-interest income was $13.6 million for the six months ended June 30, 2024, compared to $10.0 million for the six months ended June 30, 2023.  The increase in non-interest income is primarily attributable to a $2.5 million net loss on the sales of securities during the six months ended June 30, 2023 compared to no losses in the six months ended June 30, 2024, and a $911,000 increase in appraisal management fee income due to an increase in appraisal volume.

 

Non-interest expense was $29.6 million for the six months ended June 30, 2024, compared to $27.3 million for the six months ended June 30, 2023.  The increase in non-interest expense is primarily attributable to a $1.0 million increase in salaries and employee benefits expense primarily due to increases in salary, medical insurance and restricted stock expenses, a $728,000 increase in appraisal management fee expense due to an increase in appraisal volume and a $356,000 increase in other non-interest expense primarily due to increases in consulting fees and debit card expense.

 

Income tax expense was $1.4 million for the three months ended June 30, 2024 and 2023.  The effective tax rate was 22.09% for the three months ended June 30, 2024, compared to 22.20% for the three months ended June 30, 2023.  Income tax expense was $2.2 million for the six months ended June 30, 2024 and 2023.  The effective tax rate was 19.74% for the six months ended June 30, 2024, compared to 21.79% for the six months ended June 30, 2023. 

 

 
2

 

 

Total assets were $1.66 billion as  of  June 30, 2024, compared to $1.64 billion as of December 31, 2023.  Available for sale securities were $393.3 million as of June 30, 2024, compared to $391.9 million as of December 31, 2023.  Total loans were $1.11 billion as of June 30, 2024, compared to $1.09 billion at December 31, 2023. 

 

Non-performing assets were $4.2 million or 0.25% of total assets at June 30, 2024, compared to $3.9 million or 0.24% at December 31, 2023.  Non-performing assets include $3.9 million in commercial and residential mortgage loans, and $267,000 in other loans at June 30, 2024, compared to $3.4 million in commercial and residential mortgage loans, and $464,000 in other loans at December 31, 2023. 

 

The allowance for credit losses on loans was $10.0 million or 0.90% of total loans at June 30, 2024, compared to $11.0 million or 1.01% at December 31, 2023.  The allowance for credit losses on unfunded commitments was $1.6 million at June 30, 2024, compared to $1.8 million at December 31, 2023.  The decrease in reserve amounts for loan balances and unfunded commitments is the result of a decrease in both loan balances and unfunded commitments in construction loans.  The volume of new unfunded construction commitments decreased in the first six months ended June 30, 2024, which resulted in the volume of funded construction loans decreasing as existing balances mature and migrate to permanent loan categories with loss rates that are lower than the construction category.  As such, though the overall loan and charge-off balances increased, the decreases in the construction category are significant enough to reduce the overall risk profile of the loan portfolio which reduces the overall reserving requirements.  Management believes the current level of the allowance for credit losses is adequate; however, there is no guarantee that additional adjustments to the allowance will not be required because of changes in economic conditions, regulatory requirements or other factors.

 

Deposits were $1.48 billion as of June 30, 2024, compared to $1.39 billion as of December 31, 2023.  Core deposits, a non-GAAP measure, which include noninterest-bearing demand deposits, NOW, MMDA, savings and non-brokered certificates of deposit of denominations of $250,000 or less, were $1.33 billion at June 30, 2024, compared to $1.24 billion at December 31, 2023.  Management believes it is useful to calculate and present core deposits because of the positive impact this low cost funding source provides to the Bank’s overall cost of funds and profitability.  Certificates of deposit in amounts of more than $250,000 totaled $147.3 million at June 30, 2024, compared to $148.9 million December 31, 2023. 

 

Securities sold under agreements to repurchase were $18.8 million at June 30, 2024, compared to $86.7 million at December 31, 2023.  The decrease in securities sold under agreements to repurchase is primarily due to customers transferring funds from securities sold under agreements to repurchase to deposits via the IntraFi network’s Insured Cash Sweep (“ICS”) during the six months ended June 30, 2024.  Junior subordinated debentures were $15.5 million at June 30, 2024 and December 31, 2023.  Shareholders’ equity was $124.3 million, or 7.51% of total assets, at June 30, 2024, compared to $121.0 million, or 7.40% of total assets, at December 31, 2023. 

 

Peoples Bank operates 16 banking offices in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Iredell and Wake Counties.  The Bank also operates loan production offices in Lincoln, Mecklenburg, Rowan and Forsyth Counties.  The Company’s common stock is publicly traded and is listed on the Nasdaq Global Market under the symbol “PEBK.”

 

Statements made in this earnings 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 involve risks and uncertainties and are based on the beliefs and assumptions of management and on the information available to management at the time that this release was prepared.  These statements can be identified by the use of words like “expect,” “anticipate,” “estimate,” and “believe,” variations of these words and other similar expressions.  Readers should not place undue reliance on forward-looking statements as a number of important factors could cause actual results to differ materially from those in the forward-looking statements.  Factors that could cause actual results to differ include, but are not limited to, (1) competition in the markets served by the Bank, (2) changes in the interest rate environment, (3) general national, regional or local economic conditions may be less favorable than expected, resulting in, among other things, a deterioration in credit quality and the possible impairment of collectibility of loans, (4) legislative or regulatory changes, including changes in accounting standards, (5) significant changes in the federal and state legal and regulatory environment and tax laws, (6) the impact of changes in monetary and fiscal policies, laws, rules and regulations and (7) other risks and factors identified in the Company’s other filings with the Securities and Exchange Commission,  including but not limited to those described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.

 

 
3

 

 

CONSOLIDATED BALANCE SHEETS

June 30, 2024, December 31, 2023 and June 30, 2023

(Dollars in thousands)

 

 

 

June 30, 2024

 

 

December 31, 2023

 

 

June 30, 2023

 

 

 

 (Unaudited)

 

 

 (Audited)

 

 

 (Unaudited)

 

ASSETS:

 

 

 

 

 

 

 

 

 

Cash and due from banks

 

 $ 31,909

 

 

 $ 32,819

 

 

 $ 41,219

 

Interest-bearing deposits

 

 

 50,926

 

 

 

 49,556

 

 

 

 47,822

 

Cash and cash equivalents

 

 

 82,835

 

 

 

 82,375

 

 

 

 89,041

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment securities available for sale

 

 

 393,260

 

 

 

 391,924

 

 

 

 394,084

 

Other investments

 

 

 2,779

 

 

 

 2,874

 

 

 

 2,602

 

Total securities

 

 

 396,039

 

 

 

 394,798

 

 

 

 396,686

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage loans held for sale

 

 

 1,288

 

 

 

 686

 

 

 

 1,560

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans

 

 

 1,110,672

 

 

 

 1,093,066

 

 

 

 1,057,724

 

Less:  Allowance for credit losses on loans

 

 

 (10,016 )

 

 

 (11,041 )

 

 

 (9,789 )

Net loans

 

 

 1,100,656

 

 

 

 1,082,025

 

 

 

 1,047,935

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Premises and equipment, net

 

 

 15,888

 

 

 

 16,702

 

 

 

 16,734

 

Cash surrender value of life insurance

 

 

 18,365

 

 

 

 18,134

 

 

 

 17,912

 

Accrued interest receivable and other assets

 

 

 40,327

 

 

 

 41,190

 

 

 

 41,706

 

Total assets

 

 $ 1,655,398

 

 

 $ 1,635,910

 

 

 $ 1,611,574

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS' EQUITY:

 

 

 

 

 

 

 

 

 

 

 

 

Deposits:

 

 

 

 

 

 

 

 

 

 

 

 

Noninterest-bearing demand

 

 $ 415,977

 

 

 $ 432,687

 

 

 $ 454,702

 

Interest-bearing demand, MMDA & savings

 

 

 710,446

 

 

 

 620,244

 

 

 

 679,823

 

Time, over $250,000

 

 

 147,333

 

 

 

 148,904

 

 

 

 105,284

 

Other time

 

 

 202,200

 

 

 

 190,210

 

 

 

 129,715

 

Total deposits

 

 

 1,475,956

 

 

 

 1,392,045

 

 

 

 1,369,524

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities sold under agreements to repurchase

 

 

 18,824

 

 

 

 86,715

 

 

 

 93,172

 

Junior subordinated debentures

 

 

 15,464

 

 

 

 15,464

 

 

 

 15,464

 

Accrued interest payable and other liabilities

 

 

 20,842

 

 

 

 20,670

 

 

 

 21,044

 

Total liabilities

 

 

 1,531,086

 

 

 

 1,514,894

 

 

 

 1,499,204

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shareholders' equity:

 

 

 

 

 

 

 

 

 

 

 

 

Preferred stock, no par value; authorized 5,000,000 shares; no shares issued and outstanding

 

 

 -

 

 

 

 -

 

 

 

 -

 

Common stock, no par value; authorized 20,000,000 shares; issued and outstanding 5,457,646 at 6/30/24, 5,534,499 shares at 12/31/23, 5,590,799 at 6/30/23

 

 

 48,678

 

 

 

 50,625

 

 

 

 51,809

 

Common stock held by deferred compensation trust, at cost; 166,247 shares at 6/30/24, 163,702 shares at 12/31/23, 165,142 shares at 6/30/23

 

 

 (1,980 )

 

 

 (1,910 )

 

 

 (1,967 )

Deferred compensation

 

 

 1,980

 

 

 

 1,910

 

 

 

 1,967

 

Retained earnings

 

 

 115,623

 

 

 

 109,756

 

 

 

 104,304

 

Accumulated other comprehensive loss

 

 

 (39,989 )

 

 

 (39,365 )

 

 

 (43,743 )

Total shareholders' equity

 

 

 124,312

 

 

 

 121,016

 

 

 

 112,370

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and shareholders' equity

 

 $ 1,655,398

 

 

 $ 1,635,910

 

 

 $ 1,611,574

 

 

 
4

 

 

CONSOLIDATED STATEMENTS OF INCOME 

For the three and six months ended June 30, 2024 and 2023

(Dollars in thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 Three months ended

 

 

 Six months ended

 

 

 

 June 30, 

 

 

 June 30, 

 

 

 

 2024

 

 

 2023

 

 

 2024

 

 

 2023

 

 

 

 (Unaudited)

 

 

 (Unaudited)

 

 

 (Unaudited)

 

 

 (Unaudited)

 

INTEREST INCOME:

 

 

 

 

 

 

 

 

 

 

 

 

Interest and fees on loans

 

 $ 15,571

 

 

 $ 13,667

 

 

 $ 30,709

 

 

 $ 26,550

 

Interest on due from banks

 

 

 725

 

 

 

 517

 

 

 

 1,632

 

 

 

 900

 

Interest on investment securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government sponsored enterprises

 

 

 2,551

 

 

 

 2,280

 

 

 

 5,142

 

 

 

 4,510

 

State and political subdivisions

 

 

 695

 

 

 

 696

 

 

 

 1,390

 

 

 

 1,558

 

Other

 

 

 528

 

 

 

 439

 

 

 

 1,007

 

 

 

 882

 

Total interest income

 

 

 20,070

 

 

 

 17,599

 

 

 

 39,880

 

 

 

 34,400

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INTEREST EXPENSE:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest-bearing demand, MMDA & savings deposits

 

 

 2,438

 

 

 

 1,648

 

 

 

 4,498

 

 

 

 3,136

 

Time deposits

 

 

 3,628

 

 

 

 1,638

 

 

 

 7,309

 

 

 

 2,154

 

Junior subordinated debentures

 

 

 283

 

 

 

 259

 

 

 

 567

 

 

 

 507

 

Other

 

 

 305

 

 

 

 283

 

 

 

 786

 

 

 

 494

 

Total interest expense

 

 

 6,654

 

 

 

 3,828

 

 

 

 13,160

 

 

 

 6,291

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET INTEREST INCOME

 

 

 13,416

 

 

 

 13,771

 

 

 

 26,720

 

 

 

 28,109

 

PROVISION FOR CREDIT LOSSES

 

 

 (468 )

 

 

 375

 

 

 

 (377 )

 

 

 599

 

NET INTEREST INCOME AFTER

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PROVISION FOR CREDIT LOSSES

 

 

 13,884

 

 

 

 13,396

 

 

 

 27,097

 

 

 

 27,510

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NON-INTEREST INCOME:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges

 

 

 1,346

 

 

 

 1,328

 

 

 

 2,686

 

 

 

 2,669

 

Other service charges and fees

 

 

 180

 

 

 

 163

 

 

 

 364

 

 

 

 345

 

Loss on sale of securities

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 (2,488 )

Mortgage banking income

 

 

 74

 

 

 

 39

 

 

 

 125

 

 

 

 132

 

Insurance and brokerage commissions

 

 

 219

 

 

 

 206

 

 

 

 465

 

 

 

 434

 

Appraisal management fee income

 

 

 3,181

 

 

 

 2,590

 

 

 

 5,595

 

 

 

 4,684

 

Miscellaneous

 

 

 2,521

 

 

 

 2,077

 

 

 

 4,324

 

 

 

 4,238

 

Total non-interest income

 

 

 7,521

 

 

 

 6,403

 

 

 

 13,559

 

 

 

 10,014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NON-INTEREST EXPENSES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and employee benefits

 

 

 6,827

 

 

 

 6,286

 

 

 

 13,807

 

 

 

 12,786

 

Occupancy

 

 

 2,105

 

 

 

 1,981

 

 

 

 4,216

 

 

 

 3,995

 

Appraisal management fee expense

 

 

 2,523

 

 

 

 2,049

 

 

 

 4,427

 

 

 

 3,699

 

Other

 

 

 3,676

 

 

 

 3,303

 

 

 

 7,197

 

 

 

 6,841

 

Total non-interest expense

 

 

 15,131

 

 

 

 13,619

 

 

 

 29,647

 

 

 

 27,321

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EARNINGS BEFORE INCOME TAXES

 

 

 6,274

 

 

 

 6,180

 

 

 

 11,009

 

 

 

 10,203

 

INCOME TAXES

 

 

 1,386

 

 

 

 1,372

 

 

 

 2,173

 

 

 

 2,223

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET EARNINGS

 

 $ 4,888

 

 

 $ 4,808

 

 

 $ 8,836

 

 

 $ 7,980

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PER SHARE AMOUNTS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net earnings

 

 $ 0.93

 

 

 $ 0.88

 

 

 $ 1.67

 

 

 $ 1.46

 

Diluted net earnings

 

 $ 0.89

 

 

 $ 0.85

 

 

 $ 1.61

 

 

 $ 1.41

 

Cash dividends

 

 $ 0.19

 

 

 $ 0.19

 

 

 $ 0.54

 

 

 $ 0.53

 

Book value

 

 $ 23.49

 

 

 $ 20.71

 

 

 $ 23.49

 

 

 $ 20.71

 

 

 
5

 

 

FINANCIAL HIGHLIGHTS

For the three and six months ended June 30, 2024 and 2023, and the year ended December 31, 2023

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 Three months ended

 

 

 Six months ended

 

 

 Year ended

 

 

 

 June 30, 

 

 

 June 30, 

 

 

 December 31, 

 

 

 

 2024

 

 

 2023

 

 

 2024

 

 

 2023

 

 

 2023

 

 

 

 (Unaudited)

 

 

 (Unaudited)

 

 

 (Unaudited)

 

 

 (Unaudited)

 

 

 (Audited)

 

SELECTED AVERAGE BALANCES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available for sale securities

 

 $ 445,098

 

 

 $ 450,666

 

 

 $ 444,289

 

 

 $ 463,387

 

 

 $ 454,823

 

Loans

 

 

 1,108,684

 

 

 

 1,056,062

 

 

 

 1,100,671

 

 

 

 1,046,646

 

 

 

 1,061,075

 

Earning assets

 

 

 1,610,811

 

 

 

 1,550,703

 

 

 

 1,608,396

 

 

 

 1,549,822

 

 

 

 1,561,825

 

Assets

 

 

 1,650,008

 

 

 

 1,603,916

 

 

 

 1,648,905

 

 

 

 1,600,262

 

 

 

 1,605,386

 

Deposits

 

 

 1,461,596

 

 

 

 1,403,751

 

 

 

 1,444,950

 

 

 

 1,410,542

 

 

 

 1,395,265

 

Shareholders' equity

 

 

 119,443

 

 

 

 114,090

 

 

 

 120,927

 

 

 

 113,965

 

 

 

 116,295

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SELECTED KEY DATA:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest margin (tax equivalent) (1)

 

 

 3.35 %

 

 

 3.56 %

 

 

 3.34 %

 

 

 3.67 %

 

 

 3.51 %

Return on average assets

 

 

 1.19 %

 

 

 1.20 %

 

 

 1.08 %

 

 

 1.01 %

 

 

 0.97 %

Return on average shareholders' equity

 

 

 16.46 %

 

 

 16.90 %

 

 

 14.69 %

 

 

 14.12 %

 

 

 13.37 %

Average shareholders' equity to total average assets

 

 

 7.24 %

 

 

 7.11 %

 

 

 7.33 %

 

 

 7.12 %

 

 

 7.24 %

 

 
6

 

 

 

 

June 30, 2024

 

 

June 30, 2023

 

 

December 31, 2023

 

 

 

 (Unaudited)

 

 

 (Unaudited)

 

 

 (Audited)

 

 

 

 

 

 

 

 

 

 

 

ALLOWANCE FOR CREDIT LOSSES:

 

 

 

 

 

 

 

 

 

Allowance for credit losses on loans

 

 $ 10,016

 

 

 $ 9,789

 

 

 $ 11,041

 

Allowance for credit losses on unfunded commitments

 

 

 1,565

 

 

 

 2,259

 

 

 

 1,770

 

Provision for credit losses (2)

 

 

 (377 )

 

 

 599

 

 

 

 1,566

 

Charge-offs (2)

 

 

 (1,228 )

 

 

 (343 )

 

 

 (698 )

Recoveries (2)

 

 

 375

 

 

 

 240

 

 

 

 392

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ASSET QUALITY:

 

 

 

 

 

 

 

 

 

 

 

 

Non-accrual loans

 

 $ 4,156

 

 

 $ 3,561

 

 

 $ 3,887

 

90 days past due and still accruing

 

 

 -

 

 

 

 -

 

 

 

 -

 

Other real estate owned

 

 

 -

 

 

 

 -

 

 

 

 -

 

Total non-performing assets

 

 $ 4,156

 

 

 $ 3,561

 

 

 $ 3,887

 

Non-performing assets to total assets

 

 

 0.25 %

 

 

 0.22 %

 

 

 0.24 %

Allowance for credit losses on loans to non-performing assets

 

 

 241.00 %

 

 

 274.89 %

 

 

 284.05 %

Allowance for credit losses on loans to total loans

 

 

 0.90 %

 

 

 0.93 %

 

 

 1.01 %

 

 

 

 

 

 

 

 

 

 

 

 

 

LOAN RISK GRADE ANALYSIS:

 

 

 

 

 

 

 

 

 

 

 

 

Percentage of loans by risk grade

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Grade 1 (excellent quality)

 

 

 0.29 %

 

 

 0.27 %

 

 

 0.30 %

Risk Grade 2 (high quality)

 

 

 19.57 %

 

 

 19.90 %

 

 

 19.78 %

Risk Grade 3 (good quality)

 

 

 72.99 %

 

 

 73.82 %

 

 

 72.96 %

Risk Grade 4 (management attention)

 

 

 5.95 %

 

 

 4.97 %

 

 

 5.59 %

Risk Grade 5 (watch)

 

 

 0.66 %

 

 

 0.49 %

 

 

 0.84 %

Risk Grade 6 (substandard)

 

 

 0.54 %

 

 

 0.55 %

 

 

 0.53 %

Risk Grade 7 (doubtful)

 

 

 0.00 %

 

 

 0.00 %

 

 

 0.00 %

Risk Grade 8 (loss)

 

 

 0.00 %

 

 

 0.00 %

 

 

 0.00 %

 

At June 30, 2024, including non-accrual loans, there were two relationships exceeding $1.0 million in the Watch risk grade, which totaled $3.0 million; there were no relationships exceeding $1.0 million in the Substandard risk grade. At December 31, 2023, including non-accrual loans, there were two relationships exceeding $1.0 million in the Watch risk grade, which totaled $4.9 million; there were no relationships exceeding $1.0 million in the Substandard risk grade.

 

(1) This amount reflects the tax benefit that the Company receives related to its tax-exempt loans and securities, which carry interest rates lower than similar taxable investments due to their tax-exempt status. This amount has been computed using an effective tax rate of 22.98% and is reduced by the related nondeductible portion of interest expense.

 

(2) For the six months ended June 30, 2024 and 2023 and the year ended December 31, 2023.

 

 
7

 

 EX-101.SCH 3 pebk-20240722.xsd XBRL TAXONOMY EXTENSION SCHEMA 000001 - Document - Cover link:presentationLink link:calculationLink link:definitionLink EX-101.LAB 4 pebk-20240722_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Cover [Abstract] Entity Registrant Name Entity Central Index Key Document Type Amendment Flag Entity Emerging Growth Company Document Period End Date Entity File Number Entity Incorporation State Country Code Entity Tax Identification Number Entity Address Address Line 1 Entity Address City Or Town Entity Address State Or Province Entity Address Postal Zip Code City Area Code Written Communications Soliciting Material Pre Commencement Tender Offer Pre Commencement Issuer Tender Offer Local Phone Number EX-101.CAL 5 pebk-20240722_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.PRE 6 pebk-20240722_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE EX-101.DEF 7 pebk-20240722_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE XML 9 R1.htm IDEA: XBRL DOCUMENT v3.24.2
Cover
Jul. 22, 2024
Cover [Abstract]  
Entity Registrant Name Peoples Bancorp of North Carolina, Inc.
Entity Central Index Key 0001093672
Document Type 8-K
Amendment Flag false
Entity Emerging Growth Company false
Document Period End Date Jul. 22, 2024
Entity File Number 000-27205
Entity Incorporation State Country Code NC
Entity Tax Identification Number 56-2132396
Entity Address Address Line 1 518 West C Street
Entity Address City Or Town Newton
Entity Address State Or Province NC
Entity Address Postal Zip Code 28658
City Area Code 828
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Local Phone Number 464-5620
EXCEL 10 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 11 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 12 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 14 FilingSummary.xml IDEA: XBRL DOCUMENT 3.24.2 html 1 19 1 false 0 0 false 3 false false R1.htm 000001 - Document - Cover Sheet http://pebk.com/role/Cover Cover Cover 1 false false All Reports Book All Reports pebk-20240722.xsd pebk-20240722_cal.xml pebk-20240722_def.xml pebk-20240722_lab.xml pebk-20240722_pre.xml pebk_8k.htm http://xbrl.sec.gov/dei/2024 true true JSON 17 MetaLinks.json IDEA: XBRL DOCUMENT { "version": "2.2", "instance": { "pebk_8k.htm": { "nsprefix": "pebk", "nsuri": "http://pebk.com/20240722", "dts": { "schema": { "local": [ "pebk-20240722.xsd" ], "remote": [ "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd", "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd", "http://www.xbrl.org/2003/xl-2003-12-31.xsd", "http://www.xbrl.org/2003/xlink-2003-12-31.xsd", "http://www.xbrl.org/2005/xbrldt-2005.xsd", "http://www.xbrl.org/2006/ref-2006-02-27.xsd", "http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd", "http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd", "http://www.xbrl.org/lrr/arcrole/factExplanatory-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd", "https://www.xbrl.org/2020/extensible-enumerations-2.0.xsd", "https://www.xbrl.org/dtr/type/2020-01-21/types.xsd", "https://www.xbrl.org/dtr/type/2022-03-31/types.xsd", "https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd", "https://xbrl.fasb.org/srt/2024/elts/srt-roles-2024.xsd", "https://xbrl.fasb.org/srt/2024/elts/srt-types-2024.xsd", "https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd", "https://xbrl.fasb.org/us-gaap/2024/elts/us-roles-2024.xsd", "https://xbrl.fasb.org/us-gaap/2024/elts/us-types-2024.xsd", "https://xbrl.sec.gov/country/2024/country-2024.xsd", "https://xbrl.sec.gov/currency/2024/currency-2024.xsd", "https://xbrl.sec.gov/dei/2024/dei-2024.xsd", "https://xbrl.sec.gov/exch/2024/exch-2024.xsd", "https://xbrl.sec.gov/naics/2024/naics-2024.xsd", "https://xbrl.sec.gov/sic/2024/sic-2024.xsd", "https://xbrl.sec.gov/stpr/2024/stpr-2024.xsd" ] }, "calculationLink": { "local": [ "pebk-20240722_cal.xml" ] }, "definitionLink": { "local": [ "pebk-20240722_def.xml" ] }, "labelLink": { "local": [ "pebk-20240722_lab.xml" ] }, "presentationLink": { "local": [ "pebk-20240722_pre.xml" ] }, "inline": { "local": [ "pebk_8k.htm" ] } }, "keyStandard": 19, "keyCustom": 0, "axisStandard": 0, "axisCustom": 0, "memberStandard": 0, "memberCustom": 0, "hidden": { "total": 3, "http://xbrl.sec.gov/dei/2024": 3 }, "contextCount": 1, "entityCount": 1, "segmentCount": 0, "elementCount": 20, "unitCount": 3, "baseTaxonomies": { "http://xbrl.sec.gov/dei/2024": 19 }, "report": { "R1": { "role": "http://pebk.com/role/Cover", "longName": "000001 - Document - Cover", "shortName": "Cover", "isDefault": "true", "groupType": "document", "subGroupType": "", "menuCat": "Cover", "order": "1", "firstAnchor": { "contextRef": "From2024-07-22to2024-07-22", "name": "dei:EntityRegistrantName", "unitRef": null, "xsiNil": "false", "lang": "en-US", "decimals": null, "ancestors": [ "span", "strong", "p", "td", "tr", "tbody", "table", "body", "html" ], "reportCount": 1, "baseRef": "pebk_8k.htm", "first": true, "unique": true }, "uniqueAnchor": { "contextRef": "From2024-07-22to2024-07-22", "name": "dei:EntityRegistrantName", "unitRef": null, "xsiNil": "false", "lang": "en-US", "decimals": null, "ancestors": [ "span", "strong", "p", "td", "tr", "tbody", "table", "body", "html" ], "reportCount": 1, "baseRef": "pebk_8k.htm", "first": true, "unique": true } } }, "tag": { "dei_AmendmentFlag": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "AmendmentFlag", "presentation": [ "http://pebk.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Amendment Flag", "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission." } } }, "auth_ref": [] }, "dei_CityAreaCode": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "CityAreaCode", "presentation": [ "http://pebk.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "City Area Code", "documentation": "Area code of city" } } }, "auth_ref": [] }, "dei_CoverAbstract": { "xbrltype": "stringItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "CoverAbstract", "lang": { "en-us": { "role": { "label": "Cover [Abstract]", "documentation": "Cover page." } } }, "auth_ref": [] }, "dei_DocumentPeriodEndDate": { "xbrltype": "dateItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "DocumentPeriodEndDate", "presentation": [ "http://pebk.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Document Period End Date", "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD." } } }, "auth_ref": [] }, "dei_DocumentType": { "xbrltype": "submissionTypeItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "DocumentType", "presentation": [ "http://pebk.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Document Type", "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'." } } }, "auth_ref": [] }, "dei_EntityAddressAddressLine1": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "EntityAddressAddressLine1", "presentation": [ "http://pebk.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity Address Address Line 1", "documentation": "Address Line 1 such as Attn, Building Name, Street Name" } } }, "auth_ref": [] }, "dei_EntityAddressCityOrTown": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "EntityAddressCityOrTown", "presentation": [ "http://pebk.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity Address City Or Town", "documentation": "Name of the City or Town" } } }, "auth_ref": [] }, "dei_EntityAddressPostalZipCode": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "EntityAddressPostalZipCode", "presentation": [ "http://pebk.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity Address Postal Zip Code", "documentation": "Code for the postal or zip code" } } }, "auth_ref": [] }, "dei_EntityAddressStateOrProvince": { "xbrltype": "stateOrProvinceItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "EntityAddressStateOrProvince", "presentation": [ "http://pebk.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity Address State Or Province", "documentation": "Name of the state or province." } } }, "auth_ref": [] }, "dei_EntityCentralIndexKey": { "xbrltype": "centralIndexKeyItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "EntityCentralIndexKey", "presentation": [ "http://pebk.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity Central Index Key", "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK." } } }, "auth_ref": [ "r0" ] }, "dei_EntityEmergingGrowthCompany": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "EntityEmergingGrowthCompany", "presentation": [ "http://pebk.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity Emerging Growth Company", "documentation": "Indicate if registrant meets the emerging growth company criteria." } } }, "auth_ref": [ "r0" ] }, "dei_EntityFileNumber": { "xbrltype": "fileNumberItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "EntityFileNumber", "presentation": [ "http://pebk.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity File Number", "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen." } } }, "auth_ref": [] }, "dei_EntityIncorporationStateCountryCode": { "xbrltype": "edgarStateCountryItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "EntityIncorporationStateCountryCode", "presentation": [ "http://pebk.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity Incorporation State Country Code", "documentation": "Two-character EDGAR code representing the state or country of incorporation." } } }, "auth_ref": [] }, "dei_EntityRegistrantName": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "EntityRegistrantName", "presentation": [ "http://pebk.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity Registrant Name", "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC." } } }, "auth_ref": [ "r0" ] }, "dei_EntityTaxIdentificationNumber": { "xbrltype": "employerIdItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "EntityTaxIdentificationNumber", "presentation": [ "http://pebk.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity Tax Identification Number", "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS." } } }, "auth_ref": [ "r0" ] }, "dei_LocalPhoneNumber": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "LocalPhoneNumber", "presentation": [ "http://pebk.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Local Phone Number", "documentation": "Local phone number for entity." } } }, "auth_ref": [] }, "dei_PreCommencementIssuerTenderOffer": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "PreCommencementIssuerTenderOffer", "presentation": [ "http://pebk.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Pre Commencement Issuer Tender Offer", "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act." } } }, "auth_ref": [ "r1" ] }, "dei_PreCommencementTenderOffer": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "PreCommencementTenderOffer", "presentation": [ "http://pebk.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Pre Commencement Tender Offer", "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act." } } }, "auth_ref": [ "r3" ] }, "dei_SolicitingMaterial": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "SolicitingMaterial", "presentation": [ "http://pebk.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Soliciting Material", "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act." } } }, "auth_ref": [ "r2" ] }, "dei_WrittenCommunications": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2024", "localname": "WrittenCommunications", "presentation": [ "http://pebk.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Written Communications", "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act." } } }, "auth_ref": [ "r4" ] } } } }, "std_ref": { "r0": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Number": "240", "Section": "12", "Subsection": "b-2" }, "r1": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Number": "240", "Section": "13e", "Subsection": "4c" }, "r2": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Number": "240", "Section": "14a", "Subsection": "12" }, "r3": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Number": "240", "Section": "14d", "Subsection": "2b" }, "r4": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Securities Act", "Number": "230", "Section": "425" } } } ZIP 18 0001654954-24-009217-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001654954-24-009217-xbrl.zip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�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

[I%(VN;2E\ MX8Z_5IGJDFZ*9(Q#.!!X0KL M5<=H4F-;#2QW_*T"MJ0YE' %*@'EHB6?I(E^GHS0+N[> MXP?D#*T?V(YG1=@&SV"(O2@.1+.-/:4)6II0.4S0+DSE&)O%FMPQLPI +@ZP M-;:<1^&.NU5 UI#+;]5[(.D!<926@6K>Y94#6WIOL%#;*^2C%/F@3J00!R$. M:PF-5D.H"R$?FR?OS*D[2,*+V&U" 9/Z'V MA(1L; NWU,TM&R$0W K$HN6()BD-<8Y6B$A.;T1)-14F!4(JPE*7+Y!63,5Z>L. G?;Z[_ MW>UWKWOHZ_4-.K_I7'0'Z/*ZW^_TV746.,NDS;$ZUANO[0>?3RN?2W-R)VSJ M1\[ UYH&DTE4(0[EZ@*M^=I6[T(7'"KXK#8S/OB\"&I_A;^SZ_ P),Y5S>UQ M35M S0UM 34WM/F"6N1=A+N]GUA+T:162Q3&"A')W1S2*:QFLY'4BX8V<5H%Q>\]38UF6-._Y6 5O M"&.X.SH M#- &L2A<=0F0Y=EHC(5OL"??H"6._;%!NS#/H+'9P94[9E8!R$6KYL:66BON MN%L%9#5]\PP;XSY!60F"2S\,D>^AT'(Q\L?@'8SBP(D'%.M?^4%T:]UB-+2\'^1V><<; M^5/V6I\?M'0M;F\0 00;M L+(,K/*7)-N_ LG+KE-B;NN%L%9!5-+7U"!Q+B M=[TP#BQOA&FJ?QCX/W! / /P!Z9.&#J^)V+]_6PX*N*.:C9H%[;=*&^>O>2. MF54 QS MMU%26HK0.4S0+JX*R3 WSU=SQ\XJ0+FX21X@%:X!&[0+RAME0MW@/++3T$!)23I,7228=FH5 "(%82W%( MFBJ:R0D)R?.'5(W-6Y:93Z!DKY?W?*^VN&*>T=0)9Y*]*,P0[I*0D"=NB];E MS7,<0B"X%8A,\UW#V+)O*T2$6Q%19$E6-A-(+$C$&Y)*U15/AJ1P(6Q5G#*O MM 74W- 64'-#FR^HF<^T/-U'L_/G]TZOW^F+3IH\"S#7M 74W- 64'-#FR^H M#Z0>IF^Y5N"D_;+P=.;ZCQBC(?;PV(G$ 9J]%.$UI):ZY4HC[OA;!6P;DMH2 MAV@J 67VOD)9K%,V:!=VP%:5F@PL5.;S$VEKS=$HGEG>Z)$=0:B"$"[+7A59 M5..S0;NX#MLF.0C%PI1XI5WX:5I)542';39H%]8*1S)-T4WSK2=J\<,,>R%[ M=:$'+9K90S&:4#M,T"[N2*VLBR9R6@7*0X%4F6Q95-;- NK,Q2=HM.;F+9A"(+@5B,QQN>:6@G@A(=Q*B"JI*INU;6_(G517.AD2 MPJKF[+BF+:#FAK: FAO:?$%]&)F510?3S@#--V#8[5NZYG%J, O;CX<^U MI-0;HI,ILVM)J>OBXI+=#.N%X\81MH5I?:-I;8EC8\RJ T"G_ L,F*/-ZEH" MT[JERQP3K#L4V/9C6LN_L^2X9H4+!C(MCW?Z [RXW9ZPO-O!)0M;HN+"JS6D"5Z\WR M?6OF:(O55'W<*KN:J%&%_UA#%]/ZJ R%[,_6OOIZW1O4^MW_=DX1I8[H!U_; M5]W+OT[1.GUTU;[YUNV=$BMYAC*\^%\<1L[X\2P[K"<& $PB8YQ_-?0#&P>4 M/XYW>RK3^5-.;%!/62K+'X\0P6QFV3;\YM@I=^)H!>K);#@)ED-\QA59 M]3C63A8,7?!3,OT1T*#SYZ#6[5UT>H.$/1GNC#"Y:0*88^Q(]/."=3_/K%M< M&P;8^E&SQO"64V2Y]]9C^//GG?RI]'WK4ZZ"H&3>ZN)QM!_!\5T@Z/UZI"H+ M#?&.%9!?N[UV[[S;OD2_=;_]=@G_YA5![B#$)DCMH+TT0L\PM,A#I"FT,>U M ^# \87ONE80(L>#Z?AQ"/,*3UZR=/=K0]^_VFEB)_9V"4A>Y5.I(Q7,$*R+LC,O;)D7@/JTZSX,L^<3^%SJ1T> MLOUU'U7@NIL*90[79#Y_+4.(,KG)L9K/SZ'\)--_7M5E<@YQ5L^4HRWF 6SR M-Z$K!.R\PWZ )B*;6EH@*DP%,SJC&%VAEJ0K:&ISNX;([8O,E=:H!O +P+5\ M!2)PK@;.8H%S"KQ8X +GDG'FV#L\J-!B;B,^X6DZM^,_/"NV@7OV"4@5?"S" MQD/%=ANF LJ#@E(LT^IB*Y9I!:%L,P/D[O6C[U@UV.]<=LX'G0O4_G?GIOVM M@[ZT+]N]\T[_E,$&BFM5V-LK-*I?RRY8+U@O6"]87TG:_++^A4=>W[^/1.*P MM.\LQZ6'+L8^#-4BIR_P* ZN39*,AR0V5C6GQ2GL?RQ6%P%?&&YZJ;44D5D5A4X MP=5KJ0?GZI65S&L+%V^?-@-< 5D6FYQLT"Y.R31D33(5D1ZH!)R9Y:JW)%,V MQ')E@G:1RU665)%\KPZ^!Y+-N\ S/W2$D[4VC_.[U7-/>PW+5=3Q=G3R M^A,KP!/?M7$0_HSPW[$3/;(C%E40R84%44RP(9JP'TS0+DSA*+HDFS(;D^*5 M=N%+594E4VV*I*6JB:9#'@&7-,N#LR&I)KE@_F&7%X%T658LJHX95YI M"ZBYH2V@YH:V@)H;VGQ!S7PJ,+_3V3\[?Z&+]J#-8HW-+JVBZ5ZJ_I5O91[)@5#IM6-[94++\$I8]L,*8*H&36TBXME\1:8@,V MK=[8TD5/K*6R%-R66NF7@\)\MBUQ@FYP% <>\CUD 3GK%HNN*?NLZ*DKNS0X M%8J:#=B4NKJEI$XHZI+7TDXGT\5:8@,V@*M0^UHZ8ZH BEPW"_5$#R3SL^GT MA.+\P7NI[49=W^6PJ=#;;. &>&T[5R 4=[FK2:\W1$1Q.+@!7LJ6,YYB-96# MBE;7RO2#2NN>ML7[09$/_XLL5R2&WD&/-^NJR. ?#FS-NB*"6=9 6:XE;9?C MS6(ML0%;4WA$+()"[%'!#A'\AUQ 2>NW,]//SFGMJ]=?.KYRT?C_XC!RQH]G M/=GLH4'8K3!OF4/;+\\0@1]L\LVX;?_'HD M'SWE"QZMH#:9#2?!$M=G_,A5=_'+],LILMQ[ZS'\ M>5FEO\/[UJ?,C*2\05 R;W7Q.-J'X.Q9@;V_WIK8*WIK3:A_DND_&;'>7;'- M93Q[,W$Q\I,]OK(B2XME-?<>?H\]C#190JJ\XNWG\/Y[^^*BV_NVF#I,N10; M)D2@&!'(0J\)Q#E _ */\'2( Z0I;**^@UFNJJ1MNYU^9Z%Z;^OQ"4_3N1W_ MX5FQ#=RS3\"3A8^?.1G)E18Y+&RW82J@/% HV\P 6;J.9R 'LDV*JI@"$JP7 MK.>*];LGR=ZQ?47[\O+Z/^W>>0=LS TZO^E<= ?H\KK?[_19;&3!K_243ENP M7K">*9W)4*%NVW7]>\L;833V S0*,#C6R/7#$'[N>_ GRV.X(.4U.\P?^% /.QL 3[LP2*I*K[ZKDA;$'QP!UKY**_(E Z88,QE0"E8;:*!.5 ?/<; M//*!CB-<]?TI:*TI,CULT"XLTZ.7GQS@FG9A[27-\J_V?H,O7T%D&9:J*DZ9 M5]H":FYH\P4U\YFAU7K,?K\S0/_ZHWW9'?S%8@6F$%QNV"V@YH;= FI&S5%I MEP[Y7LT:C8+8 /:3&UD59$WJM*/R?3=D4"7=^BDV@6Q5T\U)U+*![ M(%%8+\\ 9>ZS8=,@,>1/O=X R75UEQ)D(';$H HB.->YJJ[495DH](,!3FWJ]6V]HX1*+P>6EEZ7C1*5.LL- M_):>.>,%484O'W!1Z_'!@ [@*.KDMM'AQ'3GJ*S0YJM4FFO: M FIN:/,%-?,1P23XM]Q0"YULVXQ\L=IAFKXB (G_(%N \O&PD)Q+,M4E$\XU$-$A!Q_B!8 .!#_H[ M!J+1H^C1NZ\*65-LQ!\,; #7EK898B.^)%"T+6V1*UM,E5'8*CJ>P!"%KMZK MKE;,NK&ONX^$LMY#@8Y)J]R$MF8-E69!-UX]573?5 MNBE\Z\/!K:G56^+X&7.HP"K:L6DWNID15%\'^.[PFUO1>U M;=1-<6;X<ZZ;(B+ &BE'?=B$X#RZV@8[OK6@T$4IZ3VGKQBX]MX629@,V MN:Z+4\#L@=(JL[$# XYU QV'\3",+,^V ENHZCVI:D,7JOI@8 .X"NT,4#IC M*@)*H>>O#\^?;J)CTL$N&L>NT--[TM.BMZA8Y)/QVA MHX6.%K )'Z=$Z9ZAS*S^%X>1,WX\R_)LGU0^X>GG=H1^CSV,-%E" MJJSJ$G*\D1O;I/^EMWZAI(3()308W9/_1/<^"K!KD>W+<.+,0D3JO#']Y0>E M+B.0#!>^@Q>2GZ'_D!1ZYJRKA )^(3V9\,V^J M?W.6)>2]C$Y_F07*4*LC MF.D%'N'I$ =(4^ALM1)GJ]?-/<[VTR^ ;36D]%@Y08.)$R)K"OY1!-P9NWA$ MNF[#]"/K 0VQA\=.!'^W(OKAN3^=6=XC/#G"SAW0HPP%ID<^P:9W\.%1'#B1@\,Y5",K"!Z!SQ' $@)=>$4(/P"4""D/A0Y@807D=41? MP)- *R+[^B&]V8_T'@0?+\C2(SBM3V.DJG6S]9&.VB&3L^,1_&CX2"<_GRN(LTV^B1PRMID?$(DB MOUY,"#_,L!<26:F$F*@GZ*L?4!Z$S@.:@GF:P.HA7%A5<91Q9/73/Y#G'S' MF#RYH2+*84_6V(!MH_*5?C7T QL'U("!E)S*U!!3D[Q!/;6$LOSQ"!%+.[-L MHDA^/9*/GHI$CE8,]&0VG 3+(3X3Q:P&*VOW%@Q="'$R]^>@0>?/0:W;N^CT M!@E[,MPA71)P0"J&+GX:^_?CY_P-02P$"% ,4 " !,2?98\[/WS8<$ M "#%@ $0 @ $ <&5B:RTR,#(T,#&UL4$L! A0#% @ 3$GV6#*[&DR3 @ 1 @ M !4 ( !Q 8 '!E8FLM,C R-# W,C)?9&5F+GAM;%!+ 0(4 M Q0 ( $Q)]EAPV7VOF 4 )8Q 5 " 8H) !P96)K M+3(P,C0P-S(R7VQA8BYX;6Q02P$"% ,4 " !,2?98(]DBA#T$ #Z'@ M%0 @ %5#P <&5B:RTR,#(T,#&UL4$L! A0# M% @ 3$GV6&=R<6X>$ F6@ L ( !Q1, '!E8FM? M.&LN:'1M4$L! A0#% @ 3$GV6(_%=1:R-0 XML 19 pebk_8k_htm.xml IDEA: XBRL DOCUMENT 0001093672 2024-07-22 2024-07-22 iso4217:USD shares iso4217:USD shares 0001093672 false false 8-K 2024-07-22 Peoples Bancorp of North Carolina, Inc. NC 000-27205 56-2132396 518 West C Street Newton NC 28658 828 464-5620 false false false false