Peoples Bancorp Announces Third Quarter 2026 Results
Key Highlights
- ➤Q3 net earnings $5.7 million, up from $3.7 million year over year
- ➤Q3 net interest margin 3.85%, versus 3.58% in prior-year quarter
- ➤Total loans $1.30 billion, up from $1.20 billion at December 31, 2025
- ➤Total deposits $1.57 billion, up from $1.51 billion at December 31, 2025
- ➤Q3 provision for credit losses fell to $250,000 from $530,000
Expert Statements
William D. Cable, Sr., President and Chief Executive Officer of Peoples Bancorp of North Carolina, Inc.
“third quarter net earnings reflect an increase in net interest income, a decrease in the provision for credit losses and a decrease in non-interest expense which were partially offset by a decrease in non-interest income, compared to the prior year period, as discussed below.”
NEWTON, NC / ACCESS Newswire / October 19, 2026 / Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) (the "Company"), the parent company of Peoples Bank (the "Bank"), reported third quarter 2026 results with highlights as follows:
Third quarter 2026 highlights: * Net earnings were $5.7 million or $1.08 per share and $1.05 per diluted share for the three months ended September 30, 2026, as compared to $3.7 million or $0.70 per share and $0.67 per diluted share for the same period one year ago. * Net interest margin was 3.85% for the three months ended September 30, 2026, compared to 3.58% for the three months ended September 30, 2025. Year-to-date highlights: * Net earnings were $15.4 million or $2.89 per share and $2.81 per diluted share for the nine months ended September 30, 2026, compared to $13.2 million or $2.49 per share and $2.41 per diluted share for the same period one year ago. * Cash dividends were $0.80 per share for the nine months ended September 30, 2026, compared to $0.76 per share for the prior year period. * Total loans were $1.30 billion at September 30, 2026, compared to $1.20 billion at December 31, 2025. * Non-performing assets were $4.3 million or 0.25% of total assets at September 30, 2026, compared to $4.2 million or 0.25% of total assets at December 31, 2025. * Total deposits were $1.57 billion at September 30, 2026, compared to $1.51 billion at December 31, 2025. * Core deposits, a non-GAAP measure, were $1.44 billion or 91.90% of total deposits at September 30, 2026, compared to $1.35 billion or 89.44% of total deposits at December 31, 2025. * Net interest margin was 3.78% for the nine months ended September 30, 2026, compared to 3.55% for the nine months ended September 30, 2025. Net earnings were $5.7 million or $1.08 per share and $1.05 per diluted share for the three months ended September 30, 2026, as compared to $3.7 million or $0.70 per share and $0.67 per diluted share for the same period one year ago. William D. Cable, Sr., President and Chief Executive Officer, noted third quarter net earnings reflect an increase in net interest income, a decrease in the provision for credit losses and a decrease in non-interest expense which were partially offset by a decrease in non-interest income, compared to the prior year period, as discussed below.
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