Peoples Bancorp Q3 net earnings fall to $4.1M from $5.3M; EPS $0.74 vs $0.93

PEOPLES BANCORP OF NORTH CAROLINA INC

2023-Q3 EPS reported $2.15

Net earnings $4.1M ($0.74 diluted EPS) vs $5.3M ($0.93) a year ago; net interest margin flat at 3.39%.
Total loans grew to $1.1B from $1.0B at Dec 2022; non-performing assets stable at 0.23% of assets.
Core deposits declined to 90.0% of total deposits from 98.1% due to promotional CDs and repurchase agreements.
Year-to-date net earnings $12.1M ($2.15 diluted) vs $12.0M ($2.11); cash dividend raised to $0.72 from $0.69.
Adopted CECL on Jan 1, 2023, reducing retained earnings by $838K net of tax; provision for credit losses increased.

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 September 30, 2023 results: net income $4.1 million, EPS $0.76 per share and $0.74 per diluted share.

Period: the three months ended September 30, 2023
Net income: $4.1 million
EPS: $0.76 per share and $0.74 per diluted share
Result: reported results

Exact text from the filing

Net earnings were $4.1 million or $0.76 per share and $0.74 per diluted share for the three months ended September 30, 2023

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PEOPLES BANCORP OF NORTH CAROLINA INC reported the nine months ended September 30, 2023 results: net income $12.1 million, EPS $2.22 per share and $2.15 per diluted share.

Period: the nine months ended September 30, 2023
Net income: $12.1 million
EPS: $2.22 per share and $2.15 per diluted share
Result: reported results

Exact text from the filing

Net earnings were $12.1 million or $2.22 per share and $2.15 per diluted share for the nine months ended September 30, 2023

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Source: SEC EDGAR

accession 0001654954-23-013266

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