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Press Releases

2014

4/21/2013

Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK), the parent company of Peoples Bank, reported first quarter earnings results with highlights as follows:

  • Net earnings were $2.6 million or $0.46 basic and diluted net earnings per share for the three months ended March 31, 2014, as compared to $1.8 million or $0.31 basic and diluted net earnings per share, before adjustment for preferred stock dividends and accretion, for the same period one year ago.
  • Net earnings available to common shareholders were $2.6 million or $0.46 basic and diluted net earnings per common share for the three months ended March 31, 2014, as compared to $1.6 million or $0.29 basic and diluted net earnings per common share, for the same period one year ago.
  • Earnings before securities gains and income taxes were $3.5 million for the three months ended March 31, 2014, compared to $2.0 million for the same period one year ago.
  • Non-performing assets declined to $14.9 million or 1.4% of total assets at March 31, 2014, compared to $24.3 million or 2.4% of total assets at March 31, 2013.
  • Core deposits were $694.2 million, or 85.6% of total deposits at March 31, 2014, compared to $656.0 million, or 83.7% of total deposits at March 31, 2013.

Lance A. Sellers, President and Chief Executive Officer, attributed the increase in first quarter earnings to a decrease in the provision for loan losses and an increase in net interest income, which were partially offset by a decrease in non-interest income and an increase in non-interest expense.

Read the complete earnings release here.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

Company Release - 02/21/2014

NEWTON, N.C., February 21, 2014 -- The Board of Directors of Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK) declared a cash dividend for the first quarter of 2014 in the amount of $0.04 per share at their most recent meeting. This is an increase of $0.01 per share from the regular quarterly cash dividend paid in December 2013 of $0.03 per share. The cash dividend will be paid on March 14, 2014 to shareholders of record March 3, 2014.

Shareholders are encouraged to enroll in the Company’s Dividend Reinvestment and Stock Purchase Plan. For details, you may contact Krissy Price at 828-464-5620 or 800-948-7195 or you may email any questions to our transfer agent, Broadridge Corporate Issuer Solutions, Inc. at .

Peoples Bank, the wholly-owned subsidiary of Peoples Bancorp of North Carolina, Inc. operates 21 offices entirely in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Union, Iredell and Wake Counties. The Company’s common stock is publicly traded and is quoted on the Nasdaq Global Market under the symbol “PEBK.”.

Statements made in this press release, other than those concerning historical information, should be considered forward-looking statements pursuant to the safe harbor provisions of the Securities Exchange Act of 1934 and the Private Securities Litigation Act of 1995. These forward-looking statements are based on information currently available to management and are subject to various risks and uncertainties, including but not limited to those described in Peoples Bancorp of North Carolina, Inc.’s annual report on Form 10-K for the year ended December 31, 2012, under “General Description of Business” and otherwise in the Company’s reports and filings.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

Company Release - 01/27/2014

Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK), the parent company of Peoples Bank, reported fourth quarter and annual earnings results with highlights as follows:

  • Net earnings were $1.4 million or $0.25 basic and diluted net earnings per share for the three months ended December 31, 2013, before adjustment for preferred stock dividends and accretion, as compared to $1.2 million or $0.22 basic and diluted net earnings per share, before adjustment for preferred stock dividends and accretion, for the same period one year ago.
  • Net earnings available to common shareholders were $1.2 million or $0.21 basic and diluted net earnings per common share for the three months ended December 31, 2013, as compared to $1.1 million or $0.19 basic and diluted net earnings per common share, for the same period one year ago.
  • Earnings before securities gains and income taxes were $8.0 million for the year ended December 31, 2013, compared to $6.2 million for the year ended December 31, 2012
  • Core deposits were $683.9 million, or 85.6% of total deposits at December 31, 2013, compared to $646.4 million, or 82.7% of total deposits at December 31, 2012.
  • Non-performing assets declined to $16.4 million or 1.6% of total assets at December 31, 2013, compared to $26.3 million or 2.6% of total assets at December 31, 2012.
  • The Company received regulatory approval in December 2013 to repurchase and redeem the remaining 12,524 outstanding shares of its Series A preferred stock. The repurchase and redemption, which was completed January 17, 2014, is reflected on the Company’s Consolidated Balance Sheets as of December 31, 2013. “Accrued interest payable and other liabilities” at December 31, 2013 includes a $12.6 million payable for the preferred stock principal and accrued dividends paid to preferred shareholders on January 17, 2014.

Lance A. Sellers, President and Chief Executive Officer, attributed the increase in fourth quarter earnings to a decrease in the provision for loan losses, an increase in net interest income and an increase in non-interest income, which were partially offset by an increase in non-interest expense.

Read the complete earnings release here.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

2013

Company Release - 11/22/2013

NEWTON, N.C., November 22, 2013 -- The Board of Directors of Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK) declared a cash dividend for the fourth quarter of 2013 in the amount of $0.03 per share at their most recent meeting. The cash dividend will be paid on December 16, 2013 to shareholders of record December 3, 2013.

Shareholders are encouraged to enroll in the Company’s Dividend Reinvestment and Stock Purchase Plan. For details, you may contact Krissy Price at 828-464-5620 or 800-948-7195 or you may email any questions to our transfer agent, Broadridge Corporate Issuer Solutions, Inc. at .

Peoples Bank, the wholly-owned subsidiary of Peoples Bancorp of North Carolina, Inc. operates 22 offices entirely in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Union, Iredell and Wake Counties. The Company’s common stock is publicly traded and is quoted on the Nasdaq Global Market under the symbol “PEBK.”.

Statements made in this press release, other than those concerning historical information, should be considered forward-looking statements pursuant to the safe harbor provisions of the Securities Exchange Act of 1934 and the Private Securities Litigation Act of 1995. These forward-looking statements are based on information currently available to management and are subject to various risks and uncertainties, including but not limited to those described in Peoples Bancorp of North Carolina, Inc.’s annual report on Form 10-K for the year ended December 31, 2012, under “General Description of Business” and otherwise in the Company’s reports and filings.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

10/21/2013

Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK), the parent company of Peoples Bank, reported third quarter earnings results with highlights as follows:

  • Net earnings were $1.9 million or $0.34 basic and diluted net earnings per share for the three months ended September 30, 2013, before adjustment for preferred stock dividends and accretion, as compared to $1.4 million or $0.25 basic and diluted net earnings per share, before adjustment for preferred stock dividends and accretion, for the same period one year ago.
  • Net earnings available to common shareholders were $1.8 million or $0.31 basic and diluted net earnings per common share for the three months ended September 30, 2013, as compared to $1.3 million or $0.23 basic and diluted net earnings per common share, for the same period one year ago.
  • Earnings before securities gains and income taxes were $2.8 million for the three months ended September 30, 2013 compared to $1.8 million for the same period one year ago.
  • Core deposits were $678.0 million, or 84.9% of total deposits at September 30, 2013, compared to $624.5 million, or 81.3% of total deposits at September 30, 2012.

Lance A. Sellers, President and Chief Executive Officer, attributed the increase in third quarter earnings to a decrease in the provision for loan losses, a decrease in non-interest expense, an increase in non-interest income and an increase in net interest income.

Read the complete earnings release here.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

Company Release - 8/16/2013

NEWTON, N.C., August 16, 2013 -- The Board of Directors of Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK) declared a cash dividend for the third quarter of 2013 in the amount of $0.03 per share at their most recent meeting. The cash dividend will be paid on September 16, 2013 to shareholders of record September 3, 2013.

Shareholders are encouraged to enroll in the Company’s Dividend Reinvestment and Stock Purchase Plan. For details, you may contact Krissy Price at 828-464-5620 or 800-948-7195 or you may email any questions to our transfer agent, Broadridge Corporate Issuer Solutions, Inc. at .

Peoples Bank, the wholly-owned subsidiary of Peoples Bancorp of North Carolina, Inc. operates 22 offices entirely in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Union, Iredell and Wake Counties. The Company’s common stock is publicly traded and is quoted on the Nasdaq Global Market under the symbol “PEBK.”.

Statements made in this press release, other than those concerning historical information, should be considered forward-looking statements pursuant to the safe harbor provisions of the Securities Exchange Act of 1934 and the Private Securities Litigation Act of 1995. These forward-looking statements are based on information currently available to management and are subject to various risks and uncertainties, including but not limited to those described in Peoples Bancorp of North Carolina, Inc.’s annual report on Form 10-K for the year ended December 31, 2012, under “General Description of Business” and otherwise in the Company’s reports and filings.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

7/22/2013

Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK), the parent company of Peoples Bank, reported second quarter earnings results with highlights as follows:

  • Net earnings were $1.6 million or $0.29 basic and diluted net earnings per share for the three months ended June 30, 2013, before adjustment for preferred stock dividends and accretion, as compared to $1.5 million or $0.27 basic and diluted net earnings per share, before adjustment for preferred stock dividends and accretion, for the same period one year ago.
  • Net earnings available to common shareholders were $1.5 million or $0.26 basic and diluted net earnings per common share for the three months ended June 30, 2013, as compared to $1.2 million or $0.21 basic and diluted net earnings per common share, for the same period one year ago.
  • Earnings before securities gains and income taxes were $1.7 million for the three months ended June 30, 2013 compared to $1.3 million for the same period one year ago.
  • Core deposits were $665.4 million, or 84.4% of total deposits at June 30, 2013, compared to $622.6 million, or 79.8% of total deposits at June 30, 2012.

Lance A. Sellers, President and Chief Executive Officer, attributed the increase in second quarter earnings to a decrease in the provision for loan losses, which was partially offset by a decrease in net interest income, a decrease in non-interest income and an increase in non-interest expense.

Read the complete earnings release here.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

Company Release - 5/24/2013

NEWTON, N.C., May 24, 2013 -- The Board of Directors of Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK) declared a cash dividend for the second quarter of 2013 in the amount of $0.03 per share at their most recent meeting. The cash dividend will be paid on June 14, 2013 to shareholders of record June 4, 2013.

Shareholders are encouraged to enroll in the Company’s Dividend Reinvestment and Stock Purchase Plan. For details, you may contact Krissy Price at 828-464-5620 or 800-948-7195 or you may email any questions to our transfer agent, Broadridge Corporate Issuer Solutions, Inc. at .

Peoples Bank, the wholly-owned subsidiary of Peoples Bancorp of North Carolina, Inc. operates 22 offices entirely in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Union, Iredell and Wake Counties. The Company’s common stock is publicly traded and is quoted on the Nasdaq Global Market under the symbol “PEBK.”.

Statements made in this press release, other than those concerning historical information, should be considered forward-looking statements pursuant to the safe harbor provisions of the Securities Exchange Act of 1934 and the Private Securities Litigation Act of 1995. These forward-looking statements are based on information currently available to management and are subject to various risks and uncertainties, including but not limited to those described in Peoples Bancorp of North Carolina, Inc.’s annual report on Form 10-K for the year ended December 31, 2012, under “General Description of Business” and otherwise in the Company’s reports and filings.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

4/22/2013

Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK), the parent company of Peoples Bank, reported first quarter earnings results with highlights as follows:

  • Net earnings were $1.8 million or $0.31 basic and diluted net earnings per share for the three months ended March 31, 2013, before adjustment for preferred stock dividends and accretion, as compared to $1.7 million or $0.30 basic and diluted net earnings per share, before adjustment for preferred stock dividends and accretion, for the same period one year ago.
  • Net earnings available to common shareholders were $1.6 million or $0.29 basic and diluted net earnings per common share for the three months ended March 31, 2013, as compared to $1.3 million or $0.24 basic and diluted net earnings per common share, for the same period one year ago.
  • Earnings before securities gains and income taxes were $2.0 million for the three months ended March 31, 2013 compared to $1.7 million for the same period one year ago.
  • Core deposits were $656.0 million, or 83.7% of total deposits at March 31, 2013, compared to $630.4 million, or 78.0% of total deposits at March 31, 2012.

Lance A. Sellers, President and Chief Executive Officer, attributed the increase in first quarter earnings to a decrease in the provision for loan losses, which was partially offset by a decrease in net interest income and an increase in non-interest expense.

Read the complete earnings release here.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

Company Release - 2/22/2013

NEWTON, N.C., Feb. 22, 2013 -- The Board of Directors of Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK) declared a cash dividend for the first quarter of 2013 in the amount of $0.03 per share at their most recent meeting. This is an increase of $0.01 per share from the regular quarterly dividend paid in December 2012 of $0.02 per share. The cash dividend will be paid on March 15, 2013 to shareholders of record March 4, 2013.

Shareholders are encouraged to enroll in the Company’s Dividend Reinvestment and Stock Purchase Plan. For details, you may contact Krissy Price at 828-464-5620 or 800-948-7195 or you may email any questions to our transfer agent, Broadridge Corporate Issuer Solutions, Inc. at .

Peoples Bank, the wholly-owned subsidiary of Peoples Bancorp of North Carolina, Inc. operates 22 offices entirely in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Union, Iredell and Wake Counties. The Company’s common stock is publicly traded and is quoted on the Nasdaq Global Market under the symbol “PEBK.”.

Statements made in this press release, other than those concerning historical information, should be considered forward-looking statements pursuant to the safe harbor provisions of the Securities Exchange Act of 1934 and the Private Securities Litigation Act of 1995. These forward-looking statements are based on information currently available to management and are subject to various risks and uncertainties, including but not limited to those described in Peoples Bancorp of North Carolina, Inc.’s annual report on Form 10-K for the year ended December 31, 2011, under “General Description of Business” and otherwise in the Company’s reports and filings.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

1/28/2013

Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK), the parent company of Peoples Bank, reported fourth quarter and annual earnings results with highlights as follows:

  • Earnings before securities gains and income taxes were $1.4 million for the three months ended December 31, 2012 compared to $718,000 for the same period one year ago.
  • Earnings before securities gains and income taxes were $1.4 million for the three months ended December 31, 2012 compared to $718,000 for the same period one year ago.
  • Net earnings were $1.2 million or $0.22 basic and diluted net earnings per share for the three months ended December 31, 2012, before adjustment for preferred stock dividends and accretion, as compared to $1.8 million or $0.32 basic and diluted net earnings per share, before adjustment for preferred stock dividends and accretion, for the same period one year ago.
  • Net earnings available to common shareholders were $1.1 million or $0.19 basic and diluted net earnings per common share for the three months ended December 31, 2012, as compared to $1.4 million or $0.26 basic and diluted net earnings per common share, for the same period one year ago.
  • Core deposits were $646.4 million, or 82.7% of total deposits at December 31, 2012, compared to $633.0 million, or 76.5% of total deposits at December 31, 2011.

Lance A. Sellers, President and Chief Executive Officer, attributed the increase in fourth quarter earnings before security gains and income taxes to a decrease in the provision for loan losses, which was partially offset by a decrease in net interest income, a decrease in non-interest income and an increase in non-interest expense.

Read the complete earnings release here.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

2012

Company Release - 11/20/2012

NEWTON, N.C., -- The Board of Directors of Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK) declared a cash dividend for the fourth quarter of 2012 in the amount of $0.02 per share at their most recent meeting. In addition to the regular quarterly cash dividend, the Board also declared a special cash dividend in the amount of $0.05 per share to be paid at the same time. The dividends will be paid on December 14, 2012 to shareholders of record December 3, 2012.

Shareholders are encouraged to enroll in the Company’s Dividend Reinvestment and Stock Purchase Plan. For details, you may contact Krissy Price at (828) 464-5620 or (800) 948-7195 or visit our transfer agent’s website at www.rtco.com.

Peoples Bank, the wholly-owned subsidiary of Peoples Bancorp of North Carolina, Inc. operates 22 offices entirely in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Union, Iredell and Wake Counties. The Company’s common stock is publicly traded and is quoted on the Nasdaq Global Market under the symbol ““PEBK.”

Statements made in this press release, other than those concerning historical information, should be considered forward-looking statements pursuant to the safe harbor provisions of the Securities Exchange Act of 1934 and the Private Securities Litigation Act of 1995. These forward-looking statements are based on information currently available to management and are subject to various risks and uncertainties, including but not limited to those described in Peoples Bancorp of North Carolina, Inc.’s annual report on Form 10-K for the year ended December 31, 2011, under “General Description of Business” and otherwise in the Company’s reports and filings.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Lance A. Sellers, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

10/22/2012

Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK), the parent company of Peoples Bank, reported fourth quarter and annual earnings results with highlights as follows:

  • Net earnings were $1.4 million or $0.25 basic and diluted net earnings per share for the three months ended September 30, 2012, before adjustment for preferred stock dividends and accretion, as compared to $1.4 million or $0.25 basic and diluted net earnings per share, before adjustment for preferred stock dividends and accretion, for the same period one year ago.
  • Net earnings available to common shareholders were $1.3 million or $0.23 basic and diluted net earnings per common share for the three months ended September 30, 2012, as compared to $1.0 million or $0.19 basic and diluted net earnings per common share, for the same period one year ago.
  • Earnings before securities gains and income taxes were $1.8 million for the three months ended September 30, 2012 compared to $559,000 for the same period one year ago.
  • Core deposits were $624.5 million, or 81.27% of total deposits at September 30, 2012, compared to $623.8 million, or 74.17% of total deposits at September 30, 2011.

Tony W. Wolfe, President and Chief Executive Officer, attributed the increase in third quarter earnings to a decrease in the provision for loan losses, which was partially offset by a decrease in net interest income, a decrease in non–interest income and an increase in non–interest expense.

Read the complete earnings release here.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Tony Wolfe, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

Company Release - 8/21/2012

NEWTON, N.C., August 21, 2012 -- The Board of Directors of Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK) declared a cash dividend for the third quarter of 2012 in the amount of $.02 per share at their most recent meeting. The cash dividend will be paid on September 17, 2012 to shareholders of record September 4, 2012.

Shareholders are encouraged to enroll in the Company’s Dividend Reinvestment and Stock Purchase Plan. For details, you may contact Krissy Price at (828) 464-5620 or (800) 948-7195 or visit our transfer agent’s website at www.rtco.com.

Peoples Bank, the wholly-owned subsidiary of Peoples Bancorp of North Carolina, Inc. operates 22 offices entirely in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Union, Iredell and Wake Counties. The Company’s common stock is publicly traded and is quoted on the Nasdaq Global Market under the symbol ““PEBK.”

Statements made in this press release, other than those concerning historical information, should be considered forward-looking statements pursuant to the safe harbor provisions of the Securities Exchange Act of 1934 and the Private Securities Litigation Act of 1995. These forward-looking statements are based on information currently available to management and are subject to various risks and uncertainties, including but not limited to those described in Peoples Bancorp of North Carolina, Inc.’s annual report on Form 10-K for the year ended December 31, 2011, under “General Description of Business” and otherwise in the Company’s reports and filings.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Tony Wolfe, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

Sellers the Company's Chief Banking Officer Since 1999

July 31, 2012

Lance A. Sellers photoNEWTON, N.C. Robert C. Abernethy, Chairman of the Board of Peoples Bancorp of North Carolina (Nasdaq:PEBK) announced today that Lance A. Sellers has been appointed by the Board of Directors to assume the role of President and CEO when Tony W. Wolfe, current President and CEO retires in the fourth quarter of 2012.

Mr. Abernethy commented on the appointment by saying, “Peoples Bank has been very fortunate to have a talented and dedicated team of senior executives. They have served the bank, community, and our shareholders very well. Lance Sellers is a big part of that team’s success. The Board is pleased to have a leader with his qualities and abilities to serve as our new chief executive.”

Wolfe said, “I am delighted with the Board’s choice of Lance. I’ve worked side–by–side with him for many years. He has a real feel for both commercial and retail banking. He is well respected by our customers and employees. I’m very confident that the company will continue to prosper under his leadership.”

Mr. Sellers came to Peoples Bank in 1998 as the Senior Vice President of Credit Administration. He has since served in other executive credit positions with the company. In 1999 he became the company’s Chief Banking Officer, responsible for the entire lending portfolio. He began his banking career in 1984 with BB&T holding various business lending positions including senior credit officer. He is a graduate of UNC Chapel Hill with a Bachelor of Science degree in Business Administration. He recently completed the Leadership Effectiveness Workshop at the UNC Kenan–Flager Business School and the NC Bankers Directors College.

Mr. Sellers and his family reside in Catawba County. They are members of Holy Trinity Lutheran Church in Hickory where he has served as the President of the Church Council. He has served in many community organizations including the Family Guidance Center Board.

Mr. Sellers said, “I am honored to serve in this position as the company’s tenth president. Peoples Bank has a 100 year heritage as a strong community bank. It is a real pleasure to have the opportunity to build upon our strengths to cultivate our future successes. I look forward to working with the Board to increase value for shareholders, customers and employees.”

About Peoples Bancorp

Peoples Bancorp of North Carolina, Inc. operates as the holding company for Peoples Bank. Peoples Bank is the wholly–owned banking subsidiary of Peoples Bancorp of North Carolina, Inc. Our Corporate Office is located in Newton, North Carolina. We have been in business since 1912, growing from a single office to twenty–two convenient offices in Catawba, Lincoln, Iredell, Alexander, Mecklenburg, Wake and Union counties. We are proud to be a full service, hometown, community bank with an extensive array of products and services for your personal and commercial banking needs. Our employees take pride in providing exceptional service to our customers. The Corporation’s common stock is traded on the Nasdaq National Market System under the symbol of PEBK.

Forward Looking Statements

Statements made in this press release, other than those concerning historical information, should be considered forward–looking statements pursuant to the safe harbor provisions of the Securities Exchange Act of 1934 and the Private Securities Litigation Act of 1995. These forward–looking statements involve risks and uncertainties and are based on the beliefs and assumptions of management and on the information available to management at the time that this release was prepared. These statements can be identified by the use of words like “expect,” “anticipate,” “estimate,” and “believe,” variations of these words and other similar expressions. Readers should not place undue reliance on forward–looking statements as a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, (1) competition in the markets served by Peoples Bank,(2) changes in the interest rate environment,(3) general national, regional or local economic conditions may be less favorable than expected, resulting in, among other things, a deterioration in credit quality and the possible impairment of collectability of loans, (4) legislative or regulatory changes, including changes in accounting standards,(5) significant changes in the federal and state legal and regulatory environment and tax laws,(6) the impact of changes in monetary and fiscal policies, laws, rules and regulations and (7) other risks and factors identified in the Company's other filings with the Securities and Exchange Commission, including but not limited to those described in Peoples Bancorp of North Carolina, Inc.’s annual report on Form 10–K for the year ended December 31, 2011.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Tony Wolfe, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

7/27/2012

Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK), the parent company of Peoples Bank, reported fourth quarter and annual earnings results with highlights as follows:

  • Net earnings were $1.5 million or $0.27 basic and diluted net earnings per share for the three months ended June 30, 2012, before adjustment for preferred stock dividends and accretion, as compared to $629,000 or $0.11 basic and diluted net earnings per share, before adjustment for preferred stock dividends and accretion, for the same period one year ago.
  • Net earnings available to common shareholders were $1.2 million or $0.21 basic and diluted net earnings per common share for the three months ended June 30, 2012, as compared to $281,000 or $0.05 basic and diluted net earnings per common share, for the same period one year ago.
  • Earnings before securities gains and income taxes were $1.3 million for the three months ended June 30, 2012 compared to $392,000 for the same period one year ago.
  • Core deposits were $622.6 million, or 79.77% of total deposits at June 30, 2012, compared to $615.1 million, or 74.07% of total deposits at June 30, 2011.
  • The Company purchased 12,530 shares of the Company's 25,054 outstanding shares of preferred stock from the U.S. Department of the Treasury (“Treasury”), which was issued to Treasury in connection with the Company’s participation in the TARP Capital Purchase Program (“CPP”) in 2008. The shares were purchased for $933.36 per share, for a total purchase price of $11,778,575.90, including $83,575.10 accrued and unpaid dividends on the preferred stock. The Company retired the 12,530 shares purchased. The $834,999.20 difference between the $12,530,000 book value of the preferred stock retired and the $11,695,000.80 purchase price of the preferred stock retired was credited to retained earnings, effective June 30, 2012.

Tony W. Wolfe, President and Chief Executive Officer, attributed the increase in second quarter earnings to a decrease in the provision for loan losses and an increase in non-interest income, which were partially offset by a decrease in net interest income and an increase in non-interest expense.

Read the complete earnings release here.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Tony Wolfe, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

6/29/2012

Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK) announced that on June 27, 2012 the U.S. Department of the Treasury announced that it priced its secondary public offering of 25,054 shares of Peoples Bancorp Preferred Stock issued to the Treasury in 2008 at $933.36 per share. Peoples Bancorp has been notified that it successfully bid to repurchase over $12.5 million of the Preferred Stock. Peoples Bancorp, the holding company for Peoples Bank in Newton, NC, was the first bank in NC to have its Preferred Stock auctioned by Treasury. Tony Wolfe, President and CEO of Peoples Bank stated that, “I consider being chosen by the Treasury to be included in the auction to be a positive indication and appreciation for the way that Peoples Bank has managed through the last few difficult years.”

Statements made in this press release, other than those concerning historical information, should be considered forward–looking statements pursuant to the safe harbor provisions of the Securities Exchange Act of 1934 and the Private Securities Litigation Act of 1995. These forward–looking statements involve risks and uncertainties and are based on the beliefs and assumptions of management and on the information available to management at the time that this release was prepared. These statements can be identified by the use of words like “expect,” “anticipate,” “estimate,” and “believe,” variations of these words and other similar expressions. Readers should not place undue reliance on forward–looking statements as a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, (1) competition in the markets served by Peoples Bank,(2) changes in the interest rate environment,(3) general national, regional or local economic conditions may be less favorable than expected, resulting in, among other things, a deterioration in credit quality and the possible impairment of collectability of loans, (4) legislative or regulatory changes, including changes in accounting standards,(5) significant changes in the federal and state legal and regulatory environment and tax laws,(6) the impact of changes in monetary and fiscal policies, laws, rules and regulations and (7) other risks and factors identified in the Company's other filings with the Securities and Exchange Commission, including but not limited to those described in Peoples Bancorp of North Carolina, Inc.’s annual report on Form 10–K for the year ended December 31, 2011.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Tony Wolfe, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

Company Release - 5/18/2012

NEWTON, N.C., May 18, 2012 -- The Board of Directors of Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK) declared a cash dividend for the second quarter of 2012 in the amount of $.02 per share. The cash dividend will be paid on June 15, 2012 to shareholders of record June 4, 2012. Future dividend payments will be based upon the performance of the Company and will be determined each quarter by the Board of Directors.

Shareholders are encouraged to enroll in the Company’s Dividend Reinvestment and Stock Purchase Plan. For details, you may contact Krissy Price at (828) 464-5620 or (800) 948-7195 or visit our transfer agent’s website at www.rtco.com.

Peoples Bank, the wholly-owned subsidiary of Peoples Bancorp of North Carolina, Inc. operates 22 offices entirely in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Union, Iredell and Wake Counties. The Company’s common stock is publicly traded and is quoted on the Nasdaq Global Market under the symbol ““PEBK.”

Statements made in this press release, other than those concerning historical information, should be considered forward-looking statements pursuant to the safe harbor provisions of the Securities Exchange Act of 1934 and the Private Securities Litigation Act of 1995. These forward-looking statements are based on information currently available to management and are subject to various risks and uncertainties, including but not limited to those described in Peoples Bancorp of North Carolina, Inc.’s annual report on Form 10-K for the year ended December 31, 2011, under “General Description of Business” and otherwise in the Compan’’s reports and filings.


SOURCE Peoples Bancorp of North Carolina, Inc.

Contact: Tony Wolfe, President and Chief Executive Officer, or A. Joseph Lampron, Executive Vice President and Chief Financial Officer, of Peoples Bancorp, +1-828-464-5620, Fax 828-465-6780

Media Contact

Joseph F. Beaman, Jr.
Executive Vice President, Chief Administrative Officer
828-464-5620
800-948-7195


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