Peoples Bancorp Q1 net earnings fall to $3.5M; dividend doubled to $0.33

PEOPLES BANCORP OF NORTH CAROLINA INC

2022-Q1 EPS reported $0.61

Net earnings of $3.5M ($0.63 EPS) vs $4.1M ($0.73 EPS) in Q1 2021.
Net interest income down to $10.7M from $11.1M; PPP fee income dropped to $0.6M from $1.0M.
Cash dividend increased to $0.33 per share from $0.16 per share year-over-year.
Total loans grew to $889.8M despite $11.4M PPP reduction; non-performing assets 0.20% of assets.
Non-interest income up $1.1M to $7.0M, led by appraisal fees; mortgage banking income down $670K.

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