Peoples Bancorp increases stock buyback authorization to $4M for 2023

PEOPLES BANCORP OF NORTH CAROLINA INC

Board approved additional $2M for share repurchases, raising 2023 total to $4M.
Repurchase program expires after February 29, 2024.
Purchases may occur in open market or privately; timing at management's discretion.
CEO cites strong balance sheet and capital position as rationale for buyback.

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