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:   2024-07-22T23:59:59+00:00
Accession:  0001654954-24-009217
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1093672/000165495424009217/0001654954-24-009217-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1093672/000165495424009217/pebk_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-009217

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