Peoples Bancorp Announces Fourth Quarter and Full Year 2025 Results

About this update from Peoples Bancorp Of North Carolina, Inc.

NEWTON, NC / ACCESS Newswire / January 26, 2026 / Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) (the "Company"), the parent company of Peoples Bank (the "Bank"), reported fourth quarter and full year 2025 results with highlights as follows: Fourth quarter 2025 highlights: Full year 2025 highlights: Net earnings were $6.6 million or $1.25 per share and $1.21 per diluted share for the three months ended December 31, 2025, as compared to $3.6 million or $0.67 per share and $0.65 per diluted share for the prior year period. William D. Cable, Sr., President and Chief Executive Officer, attributed the increase in fourth quarter net earnings to increases in net interest income and non-interest income and a decrease in non-interest expense, which were partially offset by an increase in the provision for credit losses, compared to the prior year period, as discussed below. Net interest income was $15.4 million for the three months ended December 31, 2025, compared to $13.8 million for the three months ended December 31, 2024. The increase in net interest income is due to a $1.1 million increase in interest income and a $410,000 decrease in interest expense. The increase in interest income is primarily due to a $1.3 million increase in interest income and fees on loans and a $219,000 increase in interest income on balances due from banks, which was partially offset by a $382,000 decrease in interest income on investment securities. The increase in interest income and fees on loans is primarily due to an increase in total loans. The increase in interest income on balances due from banks is primarily due to an increase in average balances outstanding. The decrease in interest income on investment securities is due to a reduction in balances outstanding and decreases in yields on variable rate securities. The decrease in interest expense is primarily due to a decrease in rates paid on interest-bearing liabilities resulting from rate decreases implemented by the Federal Reserve. Net interest income after the provision for credit losses was $15.0 million for the three months ended December 31, 2025, compared to $14.0 million for the three months ended December 31, 2024. The provision for credit losses for the three months ended December 31, 2025 was an expense of $353,000, compared to a recovery of $205,000 for the three months ended December...

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