Peoples Bancorp Of North Carolina ( (PEBK) ) has released its Q1 earnings. Here is a breakdown of the information Peoples Bancorp Of North Carolina presented to its investors.
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Peoples Bancorp of North Carolina is a financial institution operating primarily in the banking sector, offering a range of financial services including loans, deposits, and investment services. The company is headquartered in Newton, North Carolina. In its latest earnings report for the first quarter of 2025, Peoples Bancorp of North Carolina reported a net income of $4.3 million, an increase from $3.9 million in the same period last year. This growth was supported by an increase in net interest income and non-interest income, despite a slight rise in interest expenses. The bank’s total assets grew to $1.69 billion, reflecting a robust increase in cash and cash equivalents, as well as a stable loan portfolio. Key financial metrics indicate a solid performance, with net interest income rising to $13.9 million from $13.3 million, and non-interest income increasing to $6.5 million from $6.0 million year-over-year. The bank also reported a significant improvement in total comprehensive income, driven by unrealized gains on securities available for sale. Looking ahead, Peoples Bancorp of North Carolina remains focused on maintaining its financial health and capitalizing on growth opportunities in its market areas, while navigating the challenges posed by the economic environment.