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Peoples Bancorp Announces Authorization of Stock Repurchase Plan
NEWTON, N.C., March 13, 2025 (GLOBE NEWSWIRE) -- Peoples Bancorp of North Carolina, Inc. (Nasdaq: PEBK), the parent company of Peoples Bank, Newton, NC announced today that its Board of Directors has authorized a stock repurchase program, whereby up to $3.0 million will be allocated to repurchase the Company’s common stock. At December 31, 2024, the Company had assets of $1.65 billion and shareholders’ equity of $130.6 million Any purchases under the Company’s repurchase program may be made peri
About this update from Peoples Bancorp Of North Carolina, Inc.
[{"type":"image","alt":"Peoples Bancorp of North Carolina, Inc.","displaySize":"","headline":null,"caption":"Peoples Bancorp of North Carolina, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":98,"url":"https://media.zenfs.com/en/globenewswire.com/74603526610a768b229ee2a25229d6e7"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/T7x3KK_nf4lpMOAIc_n18w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEzNztjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/74603526610a768b229ee2a25229d6e7","width":300,"height":98}},"lazy":false},{"type":"text","content":"NEWTON, N.C., March 13, 2025 (GLOBE NEWSWIRE) -- Peoples Bancorp of North Carolina, Inc. (Nasdaq: PEBK), the parent company of Peoples Bank, Newton, NC announced today that its Board of Directors has authorized a stock repurchase program, whereby up to $3.0 million will be allocated to repurchase the Company’s common stock. At December 31, 2024, the Company had assets of $1.65 billion and shareholders’ equity of $130.6 million","length":430,"tagName":"p"},{"type":"text","content":"Any purchases under the Company’s repurchase program may be made periodically as permitted by securities laws and other legal requirements in the open market or in privately-negotiated transactions. The timing and amount of any repurchase of shares will be determined by the Company’s management, based on its evaluation of market conditions and other factors. The repurchase program may be suspended at any time or from time-to-time without prior notice.","length":455,"tagName":"p"},{"type":"text","content":"“The Board’s decision to repurchase stock was based on the strength of the Company’s balance sheet and capital position. We believe this is an appropriate way to utilize capital and enhance shareholder value,” said William D. Cable, Sr., President and Chief Executive Officer.","length":276,"tagName":"p"},{"type":"text","content":"Peoples Bank operates 16 banking offices in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Iredell and Wake Counties. The Bank also operates loan production offices in Lincoln, Mecklenburg, Rowan and Forsyth Counties. The Company’s common stock is publicly traded and is listed on the Nasdaq Global Market under the symbol “PEBK.”","length":357,"tagName":"p"},{"type":"text","content":"Statements made in this press release, other than those conc...