Peoples Bancorp Q2 net earnings $4.9M ($0.93/sh); NIM narrows to 3.34%

PEOPLES BANCORP OF NORTH CAROLINA INC

2024-Q2 EPS reported $1.61

Net earnings of $4.9M, or $0.93 per share, up from $4.8M ($0.88/sh) in Q2 2023.
Net interest margin contracted to 3.34% from 3.56% a year ago, driven by higher deposit costs.
Provision for credit losses was a $468K recovery vs. $375K expense last year.
Non-interest income rose to $7.5M (+$1.1M YoY) on higher appraisal and SBIC income.
Total deposits grew to $1.48B; core deposits were 90.02% of total deposits.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.