PEOPLES BANCORP OF NORTH CAROLINA INC
For the period ended Dec 31, 2023. Filed Mar 7, 2024.
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FY2023 · Filed Mar 7, 2024
PEBK$42.69-0.3%Stored close · as of Nov 10, 2026
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EX-13 · Consolidated Balance Sheets at December 31, 2023 and 2022
Consolidated Balance Sheets
December 31, 2023 and December 31, 2022
| December 31, | December 31, | |
|---|---|---|
| Assets | 2023 | 2022 |
| (Audited) | (Audited) | |
| Cash and due from banks, including reserve requirements of $0 at both 12/31/23 and 12/31/22 | $32,819 | 50,061 |
| Interest-bearing deposits | 49,556 | 21,535 |
| Cash and cash equivalents | 82,375 | 71,596 |
| Investment securities available for sale | 391,924 | 445,394 |
| Other investments | 2,874 | 2,656 |
| Total securities | 394,798 | 448,050 |
| Mortgage loans held for sale | 686 | 211 |
| Loans | 1,093,066 | 1,032,608 |
| Less allowance for credit losses | (11,041) | (10,494) |
| Net loans | 1,082,025 | 1,022,114 |
| Premises and equipment, net | 16,702 | 18,205 |
| Cash surrender value of life insurance | 18,134 | 17,703 |
| Right of use lease asset | 4,731 | 5,116 |
| Accrued interest receivable and other assets | 36,459 | 37,932 |
| Total assets | $1,635,910 | 1,620,927 |
| Liabilities and Shareholders' Equity | ||
| Deposits: | ||
| Noninterest-bearing demand | $432,687 | 523,088 |
| Interest-bearing demand, MMDA & savings | 620,244 | 814,128 |
| Time, over $250,000 | 148,904 | 31,001 |
| Other time | 190,210 | 66,998 |
| Total deposits | 1,392,045 | 1,435,215 |
| Securities sold under agreements to repurchase | 86,715 | 47,688 |
| Junior subordinated debentures | 15,464 | 15,464 |
| Lease liability | 4,832 | 5,185 |
| Accrued interest payable and other liabilities | 15,838 | 12,180 |
| Total liabilities | 1,514,894 | 1,515,732 |
| Commitments and Contingencies | ||
| Shareholders' equity: | ||
| Preferred stock, no par value; authorized 5,000,000 shares; no shares issued and outstanding | - | - |
| Common stock, no par value; authorized 20,000,000 shares; issued and outstanding 5,534,499 shares at December 31, 2023 and 5,636,830 shares at December 31, 2022 | 50,625 | 52,636 |
| Common stock held by deferred compensation trust, at cost; 163,702 shares at December 31, 2023 and 169,094 shares at December 31, 2022 | (1,910) | (2,181) |
| Deferred compensation | 1,910 | 2,181 |
| Retained earnings | 109,756 | 100,156 |
| Accumulated other comprehensive loss | (39,365) | (47,597) |
| Total shareholders' equity | 121,016 | 105,195 |
| Total liabilities and shareholders' equity | $1,635,910 | 1,620,927 |
A-23
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