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Peoples Bancorp of North Carolina reported third-quarter 2026 net earnings of $5.7 million, or $1.08 per share ($1.05 diluted), up from $3.7 million, or $0.70 per share, a year earlier. Net interest income rose to $16.7 million from $15.1 million, driven by higher loan interest income and lower interest expense after Federal Reserve rate cuts. The provision for credit losses fell to $250,000 from $530,000, while non-interest income declined to $6.7 million from $7.1 million and non-interest expense fell to $15.8 million from $16.9 million. For the nine months, net earnings reached $15.4 million, or $2.81 per diluted share, compared with $13.2 million, or $2.41 per diluted share, a year earlier.
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- Peoples Bancorp Announces Third Quarter 2026 Results
Peoples Bancorp of North Carolina (NASDAQ: PEBK) reported third-quarter 2026 net earnings of $5.7 million, or $1.05 per diluted share, up from $3.7 million, or $0.67 per diluted share, a year earlier. Net interest margin widened to 3.85% from 3.58%, and net interest income rose to $16.7 million from $15.1 million, helped by higher loan balances and lower interest expense. The provision for credit losses fell to $250,000 from $530,000, while non-interest income dropped to $6.7 million from $7.1 million, mainly due to lower appraisal management fees. For the first nine months, net earnings were $15.4 million, or $2.81 per diluted share, versus $13.2 million, or $2.41, with total loans at $1.30 billion and deposits at $1.57 billion as of September 30, 2026.
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Bank of America shares fell 4.7% on Oct. 14, their worst performance in 18 months, after weak third-quarter results and a $1.2 billion fine from banking regulators for failing to report over $5 billion in suspicious transactions. The bank earned $0.91 per share on $30.12 billion in revenue, below estimates; excluding the fine, EPS would have been $1.08, missing by only $0.02. Investment banking fees fell nearly 16% year over year, but net interest income rose $1.2 billion to $16.6 billion, and the CFO expects it to grow about 8% in 2026. Management said remediation costs of a couple hundred million dollars or more were booked this quarter. The author views the stock, trading at about 1.76 times tangible book value, as a reasonable long-term holding for diversification despite its disappointing performance over the past five years.
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