Peoples Bancorp Q3 2024 net earnings $4.0M ($0.72 diluted), down from $4.1M a year ago

PEOPLES BANCORP OF NORTH CAROLINA INC

2024-Q3 EPS reported $2.33

Net earnings $4.0M ($0.72 diluted) vs $4.1M ($0.74 diluted) in Q3 2023; YTD net earnings $12.8M vs $12.1M.
Net interest margin 3.35% for Q3 vs 3.39% a year ago; net interest income $13.5M, up $0.2M.
Provision for credit losses $297K vs $562K in Q3 2023; includes $669K reserve for Hurricane Helene exposure.
Non-interest expense $15.0M, up $0.7M, driven by $362K leasehold write-off for closed Cary branch and higher appraisal fees.
Total loans $1.12B (+2.8% vs Dec 2023); non-performing assets 0.24% of total assets, unchanged.

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