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:   2024-01-22T23:59:59+00:00
Accession:  0001654954-24-000784
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1093672/000165495424000784/0001654954-24-000784-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1093672/000165495424000784/pebk_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-000784

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