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:   2024-04-22T23:59:59+00:00
Accession:  0001654954-24-004837
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Peoples Bancorp Q1 net earnings rise to $0.74/share from $0.58 YoY; NIM narrows to 3.33%
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- Net earnings $3.9M ($0.74 per share) vs $3.2M ($0.58) in Q1 2023; dividend raised to $0.35/share.
- Net interest income $13.3M, down from $14.3M YoY; net interest margin 3.33% vs 3.77%.
- Non-interest income $6.0M, up from $3.6M, due to absence of securities losses ($2.5M loss in Q1 2023).
- Total loans flat at $1.1B; deposits up to $1.5B from $1.4B; core deposits 89.75% of total.
- Non-performing assets $4.0M, 0.24% of total assets; allowance for credit losses 0.98% of loans.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1093672/000165495424004837/0001654954-24-004837-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1093672/000165495424004837/pebk_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-004837

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