PEBK Q4 net earnings down 17% YoY to $3.4M; full-year EPS declines to $2.77 diluted

PEOPLES BANCORP OF NORTH CAROLINA INC

2023-FY EPS reported $2.77

Q4 net earnings $3.4M ($0.64 basic EPS) vs $4.1M ($0.76) a year ago; net interest margin compressed to 3.32% from 3.78%.
Full-year 2023 net earnings $15.5M ($2.77 diluted EPS) vs $16.1M ($2.85) in 2022; annual dividend raised to $0.91/share from $0.87.
Total loans grew to $1.1B; core deposits fell to 89.3% of total deposits from 98.1%, with time deposits increasing sharply.
Non-performing assets stable at $3.9M (0.24% of assets); allowance for credit losses at 1.01% of loans.
Effective tax rate rose to 22.0% for full year from 20.6% due to fewer non-taxable investments.

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 0.99

PEOPLES BANCORP OF NORTH CAROLINA INC reported the three months ended December 31, 2023 results: net income $3.4 million, EPS $0.64 per share and $0.62 per diluted share.

Period: the three months ended December 31, 2023
Net income: $3.4 million
EPS: $0.64 per share and $0.62 per diluted share
Result: reported results

Exact text from the filing

Net earnings were $3.4 million or $0.64 per share and $0.62 per diluted share for the three months ended December 31, 2023

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

PEOPLES BANCORP OF NORTH CAROLINA INC reported the year ended December 31, 2023 results: net income $15.5 million, EPS $2.87 per share and $2.77 per diluted share.

Period: the year ended December 31, 2023
Net income: $15.5 million
EPS: $2.87 per share and $2.77 per diluted share
Result: reported results

Exact text from the filing

Net earnings were $15.5 million or $2.87 per share and $2.77 per diluted share for the year ended December 31, 2023

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Source: SEC EDGAR

accession 0001654954-24-000784

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