**Peoples Bancorp of North Carolina Announces Fourth Quarter and Full Year 2024 Earnings Results** **

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Peoples Bancorp of North Carolina, Inc. (NASDAQ: PEBK) recently disclosed its fourth quarter and full year 2024 financial outcomes through a press release. The report showed a positive growth trajectory in various key financial areas compared to the same periods in the prior year.

For the fourth quarter of 2024, the company reported net earnings of $3.6 million, translating to $0.67 per share and $0.65 per diluted share. The net interest margin stood at 3.39% for the same period, a slight increase from the previous year.

Throughout the full year 2024, Peoples Bancorp achieved net earnings of $16.4 million, equivalent to $3.08 per share and $2.98 per diluted share. Cash dividends for this period reached $0.92 per share, showing a favorable increment from the preceding year. Total loans amounted to $1.14 billion at the end of December 2024, up from $1.09 billion in December 2023.

Non-performing assets accounted for $4.4 million or 0.27% of total assets by the end of 2024, compared to $3.9 million or 0.24% of total assets at the close of 2023. Total deposits also experienced growth, reaching $1.48 billion by the end of 2024 from $1.39 billion in December 2023.

The release also indicated a forward-looking perspective on the company’s performance, emphasizing the management’s belief and assumptions regarding potential risks and uncertainties that might impact future results. Factors like changes in interest rates, market conditions, and regulatory environments were highlighted as potential areas of influence.

Peoples Bancorp of North Carolina continues to uphold transparency and regulatory compliance by sharing detailed financial statements and adhering to the necessary reporting requirements as outlined by the Securities and Exchange Commission. Investors and stakeholders are encouraged to refer to the complete 8-K filing and the associated statements for a comprehensive understanding of the company’s financial standing and trajectory.

For further details on Peoples Bancorp of North Carolina’s financial results and future outlook, interested parties are welcome to refer to the original press release and accompanying documents on the company’s investor relations page or the SEC’s official website.

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This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Peoples Bancorp of North Carolina’s 8K filing here.

About Peoples Bancorp of North Carolina

Peoples Bancorp of North Carolina, Inc operates as the bank holding company for Peoples Bank that provides various banking products and services for individuals and small-to medium-sized businesses. It offers checking, savings, money market, and retirement accounts; certificates of deposits; and credit and debit cards.