---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-24-000784"
form_type: "8-K"
ticker: "PEBK"
cik: "0001093672"
company_name: "PEOPLES BANCORP OF NORTH CAROLINA INC"
filed_at: "2024-01-22T23:59:59+00:00"
generated_at: "2026-06-06T20:28:23.134704+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001654954-24-000784
- form_type: 8-K
- ticker: PEBK
- cik: 0001093672
- company_name: PEOPLES BANCORP OF NORTH CAROLINA INC
- filed_at: 2024-01-22T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1093672/000165495424000784/0001654954-24-000784-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1093672/000165495424000784/pebk_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-24-000784
- JSON: https://secwatch.observer/filing/0001654954-24-000784.json
- Plain text: https://secwatch.observer/filing/0001654954-24-000784.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1093672/000165495424000784/0001654954-24-000784-index.htm
- Earnings Releases
  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
  source text: Net earnings were $15.5 million or $2.87 per share and $2.77 per diluted share for the year ended December 31, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1093672/000165495424000784/0001654954-24-000784-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.