Peoples Bancorp Of North Carolina, Inc. · NASDAQ:PEBK
Peoples Bancorp Of North Carolina — Q1 2025 Earnings Presentation
13 slides from Peoples Bancorp Of North Carolina's earnings presentation, Apr 22, 2025
Slide 1: First Quarter 2025 Earnings Conference Call
First Quarter 2025 Earnings Conference Call April 22, 2025 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement Statements in this presentation which are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Ref
Slide 3: Use of Non-US GAAP Financial Measures
Use of Non-US GAAP Financial Measures This presentation contains financial information and performance measures determined by methods other than those in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). Management uses these “non-US GAAP” financia
Slide 4: First Quarter 2025 Financial Highlights
First Quarter 2025 Financial Highlights • Annualized loan growth of over 4% Net income was $24.3 million, or $0.68 of diluted earnings per share (“EPS”) • Key credit quality metrics improved – Impacted by one-time costs of $0.05 • Deposit balances increased 2%, driven by – For more information, plea
Slide 5: Loans
Loans Loan Balances and Yields Loans Balances by Segment (Dollars in billions) (As of Most Recent Quarter-End) 5% 7.16% 7.27% 7.13% 7.01% 6.77% 29% 21% $4.45 $4.64 $4.69 $4.80 $4.92 10% 12% 23% $1.76 $1.69 $1.59 $1.56 $1.51 Consumer loans Owner occupied commercial real estate Non-owner occupied comm
Slide 6: North Star Leasing
North Star Leasing North Star Leasing North Star Leasing by Segment (As of Most Recent Quarter-End) 14.43% 14.49% 14.69% 14.35% 13.99% 14.24% 21% 13.80% 13.35% 33% 11.97% 13% 6.95% 6% 10% 8% 9% 4.08% Restaurant Titled - Vocational 1.54% 1.65% TItled - Trucking/Trailer/Fleet 1.32% Brewery/Distillery
Slide 7: Asset Quality
Asset Quality Asset Quality Metrics Key asset quality metrics improved during the 4.14% first quarter of 2025 – Our annualized net charge-off rate declined to 52 3.79% 3.79% 3.80% basis points compared to 61 basis points for the 3.53% fourth quarter of 2024 – Nonperforming assets declined mostly due
Slide 8: Net Interest Income
Net Interest Income Net Interest Income Accretion Income Net interest income declined (Dollars in Thousands) (Dollars in Thousands) 1% compared to the linked $86,640 $86,536 $85,255 quarter, and was attributable to $6,499 lower accretion income $4,856 $3,481 – Accretion income declined $1.4 million
Slide 9: Non-Interest Income
Non-Interest Income Non-Interest Income (Dollars in Thousands) Non-interest income, excluding gains and losses, grew 2% compared to the linked quarter – Performance-based insurance commissions that are recognized annually in the first quarter of each year totaled $1.5 million $27,099 $25,779 – This
Slide 10: Non-Interest Expense
Non-Interest Expense Non-Interest Expense – Non-interest expense increased 2% compared to the linked (Dollars in Thousands) quarter $68,465 $70,503 $70,787 – Impacted by one-time costs recognized in the first quarter of each year – Stock-based compensation expense related to the annual forfeiture ra
Slide 11: Deposits
Deposits Deposit Balances and Costs Deposit Balances by Segment (Dollars in billions) (As of Most Recent Quarter-End) 6% 20% 1.94% 2.01% 2.01% 2.01% 12% 1.85% $6.08 $6.21 11% $5.86 $5.83 $6.03 14% 12% 25% Non-interest-bearing deposits Interest-bearing demand accounts $1.47 $1.47 $1.45 $1.51 $1.53 Re
Slide 12: Capital
Capital Capital Metrics 13.58% 13.78% 13.40% 13.44% 13.42% 12.39% 12.53% 12.14% 12.18% 12.24% 11.95% 12.09% 11.69% 11.74% 11.80% 9.59% 9.73% 9.81% 9.16% 9.29% 8.25% 8.34% 8.01% 7.37% 7.61% 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 Common equity tier 1 capital ratio Tier 1 risk-based capital
Slide 13: 2025 Outlook
2025 Outlook A high level look at our expectations for 2025: Operating Leverage – Generating positive operating leverage for 2025, compared to 2024 Net Interest Income – Assuming a 25 basis point rate reduction by the Federal Reserve in mid-2025, and another 25 basis point reduction during the fourt
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