PEOPLES BANCORP OF NORTH CAROLINA INC
For the period ended Dec 31, 2024. Filed Mar 12, 2025.
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FY2024 · Filed Mar 12, 2025
PEBK$42.69-0.3%Stored close · as of Nov 10, 2026
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EX-13 · Consolidated Balance Sheets at December 31, 2024 and 2023
| Consolidated Balance Sheets | ||
|---|---|---|
| December 31, 2024 and December 31, 2023 | ||
| (Dollars in thousands) | ||
| December 31, | December 31, | |
| Assets | 2024 | 2023 |
| (Audited) | (Audited) | |
| Cash and due from banks | $30,919 | 32,819 |
| Interest-bearing deposits | 28,347 | 49,556 |
| Cash and cash equivalents | 59,266 | 82,375 |
| Investment securities available for sale | 388,003 | 391,924 |
| Other investments | 2,728 | 2,874 |
| Total securities | 390,731 | 394,798 |
| Mortgage loans held for sale | 1,367 | 686 |
| Loans | 1,138,404 | 1,093,066 |
| Less allowance for credit losses | (9,995) | (11,041) |
| Net loans | 1,128,409 | 1,082,025 |
| Premises and equipment, net | 14,847 | 16,702 |
| Cash surrender value of life insurance | 17,675 | 18,134 |
| Other real estate | 369 | - |
| Right of use lease asset | 4,013 | 4,731 |
| Accrued interest receivable and other assets | 35,285 | 36,459 |
| Total assets | $1,651,962 | 1,635,910 |
| Liabilities and Shareholders' Equity | ||
| Deposits: | ||
| Noninterest-bearing demand | $402,254 | 432,687 |
| Interest-bearing demand, MMDA & savings | 741,363 | 620,244 |
| Time, over $250,000 | 145,939 | 148,904 |
| Other time | 195,175 | 190,210 |
| Total deposits | 1,484,731 | 1,392,045 |
| Securities sold under agreements to repurchase | - | 86,715 |
| Junior subordinated debentures | 15,464 | 15,464 |
| Lease liability | 4,136 | 4,832 |
| Accrued interest payable and other liabilities | 17,068 | 15,838 |
| Total liabilities | 1,521,399 | 1,514,894 |
| 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 5,457,646 shares at December 31, 2024 and 5,534,499 shares at December 31, 2023 | 48,658 | 50,625 |
| Common stock held by deferred compensation trust, at cost; 158,580 shares at December 31, 2024 and 163,702 shares at December 31, 2023 | (1,757) | (1,910) |
| Deferred compensation | 1,757 | 1,910 |
| Retained earnings | 121,062 | 109,756 |
| Accumulated other comprehensive loss | (39,157) | (39,365) |
| Total shareholders' equity | 130,563 | 121,016 |
| Total liabilities and shareholders' equity | $1,651,962 | 1,635,910 |
| See accompanying Notes to Consolidated Financial Statements. | ||
A-25
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