News about Peoples Bancorp

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.

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.