Peoples Bancorp Q2 net earnings $0.80 diluted EPS, nearly doubling YoY; provision credit boosts results

PEOPLES BANCORP OF NORTH CAROLINA INC

2021-Q2 EPS reported $1.51

Q2 2021 net earnings $4.6M ($0.80 diluted EPS) vs $2.6M ($0.44) in Q2 2020.
Net interest income rose to $11.7M from $10.7M, helped by $1.5M PPP fee income.
Provision for loan losses was a credit of $226k vs expense of $1.4M a year ago.
Total loans $888.4M, down from $948.6M at Dec 2020; PPP loans fell to $37.5M from $75.8M.
Non-performing assets improved to 0.21% of total assets from 0.27% at Dec 2020.

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