Peoples Bancorp Q2 net earnings up to $4.8M ($0.88 EPS); NIM expands to 3.56%

PEOPLES BANCORP OF NORTH CAROLINA INC

2023-Q2 EPS reported $1.41

Net earnings $4.8M vs $3.2M YoY; diluted EPS $0.85 vs $0.57.
Net interest margin improved to 3.56% from 2.87%; net interest income +22% to $13.8M.
Non-interest income fell 12% to $6.4M on lower appraisal fees; provision for credit losses down to $375k.
Total loans grew to $1.1B; non-performing assets remain low at 0.22% of assets.
Adopted CECL effective Jan 1, 2023; initial $838k net retained earnings reduction.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PEOPLES BANCORP OF NORTH CAROLINA INC reported the three months ended June 30, 2023 results: net income $4.8 million, EPS $0.88 per share and $0.85 per diluted share.

Period: the three months ended June 30, 2023
Net income: $4.8 million
EPS: $0.88 per share and $0.85 per diluted share
Result: reported results

Exact text from the filing

Net earnings were $4.8 million or $0.88 per share and $0.85 per diluted share for the three months ended June 30, 2023

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PEOPLES BANCORP OF NORTH CAROLINA INC reported the six months ended June 30, 2023 results: net income $8.0 million, EPS $1.46 per share and $1.41 per diluted share.

Period: the six months ended June 30, 2023
Net income: $8.0 million
EPS: $1.46 per share and $1.41 per diluted share
Result: reported results

Exact text from the filing

Net earnings were $8.0 million or $1.46 per share and $1.41 per diluted share for the six months ended June 30, 2023

View on SEC.gov

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Source: SEC EDGAR

accession 0001654954-23-009544

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