Peoples Bancorp Announces Authorization of Stock Repurchase Plan

Core Viewpoint - Peoples Bancorp of North Carolina, Inc. has authorized a stock repurchase program of up to $3.0 million to enhance shareholder value based on the strength of its balance sheet and capital position [1][2] Financial Overview - As of December 31, 2024, the company reported total assets of $1.65 billion and shareholders' equity of $130.6 million [1] Stock Repurchase Program Details - The stock repurchase may occur periodically in the open market or through privately-negotiated transactions, with the timing and amount determined by management based on market conditions [1] - The repurchase program can be suspended at any time without prior notice [1] Company Operations - Peoples Bank operates 16 banking offices across several counties in North Carolina, including Catawba, Alexander, Lincoln, Mecklenburg, Iredell, and Wake [3] - The company also has loan production offices in Lincoln, Mecklenburg, Rowan, and Forsyth Counties [3] - The common stock of the company is publicly traded on the Nasdaq Global Market under the symbol "PEBK" [3]