Peoples Bancorp board increases stock repurchase plan by $2M

Peoples Bancorp of North Carolina Board of Directors has authorized an updated stock repurchase program, whereby up to an additional $2 million will be allocated to repurchase the Company’s common stock, which increases the total amount authorized in 2023 to $4 million. On March 6, 2023, the Company issued a press release announcing a Stock Repurchase Plan authorizing the repurchase of outstanding shares totaling up to $2,000,000. This updated stock repurchase program expires after February 29, 2024. At September 30, 2023, the Company had assets of $1.6 billion and stockholder’s equity of $107.4 million.