The strong earnings acceleration and margin expansion suggest PEBK is benefiting from loan growth and deposit cost management. Monitor the Q4 2026 release for continued net interest margin expansion and credit quality trends, as the provision for credit losses has been volatile.
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Executive Summary
Peoples Bancorp of North Carolina reported Q3 2026 net earnings of $5.7M ($1.05 diluted), a sharp increase from $3.7M ($0.67 diluted) a year ago, driven by higher net interest income, lower provision for credit losses, and lower non-interest expense. Net interest margin expanded to 3.85% from 3.58%, and non-performing assets remained low at 0.25% of total assets. The sequential and year-over-year earnings acceleration is a clear positive for the community bank.
Key Financial Metrics
Key Facts
- Q3 2026 net earnings of $5.7M vs $3.7M in Q3 2025, a 55% increase
- Diluted EPS of $1.05 vs $0.67 in the prior-year quarter
- Net interest margin expanded to 3.85% from 3.58% a year ago
- Net interest income rose to $16.7M from $15.1M (+10.6% YoY)
- Provision for credit losses decreased to $250K from $530K YoY
- Non-interest expense fell to $15.8M from $16.9M YoY (-6.5%)
- Total loans grew to $1.30B from $1.20B at Dec 2025 (+8.2%)
- Non-performing assets were stable at 0.25% of total assets
- Return on average assets improved to 1.29% from 0.85% YoY
- Return on average equity improved to 14.23% from 10.28% YoY
Financial Impact
Net earnings increased 55% YoY to $5.7M; diluted EPS rose 57% to $1.05; net interest margin expanded 27bp to 3.85%
Risk Factors
- Non-interest income declined 6.1% YoY due to lower appraisal management fee income
- Accumulated other comprehensive loss widened to -$37.8M from -$27.2M at Dec 2025, reflecting higher unrealized losses on securities
- Equity-to-assets ratio declined to 8.95% from 9.23% at Dec 2025
- Provision for credit losses year-to-date is $1.1M vs $585K in the prior period, driven by loan growth
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001654954-26-009034 |
| Document: pebk_8k.htm | 0001654954-26-009034 |
| Document: 0001654954-26-009034-index-headers.html | 0001654954-26-009034 |
| Document: 0001654954-26-009034-index.html | 0001654954-26-009034 |
| Document: 0001654954-26-009034.txt | 0001654954-26-009034 |
| 8-K Data (Synthetic) | 0001654954-26-009034 |
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| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 8d ago | 8-K | $43.89 $43.57 | ▼ −0.72% | ▼ −0.57% | $43.73 (−0.35%) |
Sep 2, 2026 7w ago | Insider Cluster | $43.88 $43.86 | ▼ −0.05% | ▲ +0.91% | $43.73 (−0.34%) |
Sep 1, 2026 8w ago | Insider Cluster | $43.67 $43.86 | ▲ +0.44% | ▲ +1.39% | $43.73 (+0.14%) |
Aug 7, 2026 11w ago | Insider Cluster | $42.88 $44.60 | ▲ +4.01% | ▲ +4.06% | $43.73 (+1.98%) |
Aug 6, 2026 11w ago | Insider Cluster | $43.05 $44.84 | ▲ +4.16% | ▲ +3.76% | $43.73 (+1.58%) |
Jul 31, 2026 12w ago | Insider Cluster | $43.00 $43.05 | ▲ +0.12% | ▼ −3.40% | $43.73 (+1.70%) |
Jul 30, 2026 12w ago | Insider Cluster | $43.00 $43.04 | ▲ +0.09% | ▼ −3.53% | $43.73 (+1.70%) |
Jul 24, 2026 13w ago | Insider Cluster | $43.02 $43.00 | ▲ +0.05% | ▲ +0.42% | $43.73 (−1.65%) |
Jul 21, 2026 14w ago | 8-K | $42.67 $42.95 | ▲ +0.66% | ▲ +1.88% | $43.73 (+2.48%) |
Jul 20, 2026 14w ago | 8-K | $42.74 $43.02 | ▲ +0.66% | ▲ +1.08% | $43.73 (+2.32%) |
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