secwatch.observer — SEC 8-K summary
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Issuer:     PEOPLES BANCORP OF NORTH CAROLINA INC (PEBK)
CIK:        0001093672
Form:       8-K
Filed at:   2022-07-25T23:59:59+00:00
Accession:  0001654954-22-010022
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Peoples Bancorp Q2 net earnings fall to $3.2M from $4.6M; diluted EPS $0.57 vs $0.80
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- Net earnings $3.2M ($0.57 diluted) vs $4.6M ($0.80) in Q2 2021; provision for loan losses turned to $410K from recovery of $226K.
- PPP loan fee income dropped to $293K from $1.5M in Q2; total loans grew to $959.5M despite $16.6M PPP reduction.
- Non-interest income rose to $7.3M (+$1.3M) driven by appraisal fees, but mortgage banking income fell $624K.
- Non-interest expense increased to $14.2M from $12.1M, led by higher appraisal expenses and salaries.
- Shareholders' equity fell to $112.4M (6.70% of assets) from $142.4M (8.77%) due to unrealized securities losses; dividends for H1 2022 were $0.51 vs $0.32.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1093672/000165495422010022/0001654954-22-010022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1093672/000165495422010022/pebk_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-22-010022

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