Quarterly ResultMay 7, 2026, 04:41 PM
Peoples Bancorp Q1 Net Earnings $4.4M, EPS $0.83; Assets $1.73B
AI Summary
Peoples Bancorp of North Carolina reported a slight increase in net earnings and basic earnings per share for the first quarter of 2026 compared to the same period in 2025. The company experienced growth in total assets, deposits, and loans. However, there was a notable increase in the provision for credit losses and accumulated other comprehensive loss, primarily due to unrealized losses on investment securities.
Key Highlights
- Net earnings for Q1 2026 increased to $4.398 million from $4.345 million in Q1 2025.
- Basic net earnings per share rose to $0.83 in Q1 2026 from $0.82 in Q1 2025.
- Total assets grew to $1.734 billion at March 31, 2026, from $1.702 billion at December 31, 2025.
- Total deposits increased to $1.541 billion at March 31, 2026, from $1.509 billion at December 31, 2025.
- Total loans increased to $1.243 billion at March 31, 2026, from $1.204 billion at December 31, 2025.
- Cash dividends declared per share increased to $0.38 in Q1 2026 from $0.36 in Q1 2025.
- Net interest income for Q1 2026 was $15.103 million, up from $13.944 million in Q1 2025.
- Provision for credit losses significantly increased to $560 thousand in Q1 2026 from $268 thousand in Q1 2025.