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:   2023-10-23T23:59:59+00:00
Accession:  0001654954-23-013266
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1093672/000165495423013266/0001654954-23-013266-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1093672/000165495423013266/pebk_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-013266

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