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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Peoples Bancorp Earnings Increase To $1.9M 0 comments
    Oct 21, 2013 11:24 AM | about stocks: PEBK

    Originally published at www.seclive.com

    Peoples Bancorp of North Carolina Inc. (PEBK), the parent company of Peoples Bank, announced its third quarter financial results, reporting an earnings increase of $0.5M to $1.9M. Earnings per share increased from $0.25 last year this quarter to $0.34 per share this quarter. Net interest income improved slightly from $7.8M to $7.9M due primarily to decreased costs related to interest liabilities. Peoples Bancorp also reported increases in deposits from $768.5M to $798.3M while its non-performing assets declined 1.8% to $19.1M. Shareholders' equity declined from 9.6% of total assets to 9.2%, or $95.7M. President and CEO Lance Sellers attributes the company's growth this quarter to decreases in loan losses and non-interest expenses and increases in non-interest and net interest income.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: financial results, earnings Stocks: PEBK
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