Peoples Bancorp of North Carolina Q2 FY26 net earnings flat at $5.2 million; net interest income rises to $16 million
PEBK•Balance sheet trends
Total loans climbed to $1.28 billion at June 30, while deposits increased to $1.57 billion; estimated uninsured deposits were $336.5 million, or 21.47%.
Credit losses, fees and expenses
Provision for credit losses swung to a $293,000 expense from a $213,000 recovery, reflecting loan growth and higher net charge-offs.
Non-interest income slipped to $7.1 million on a $929,000 drop in appraisal management fees, while non-interest expense increased to $16.1 million.
Quarterly earnings and net interest income
Peoples Bancorp of North Carolina posted Q2 net earnings of $5.2 million, or $0.98 a share, up from $0.97 a year earlier.
Net interest income rose to $16 million, driven by higher loan interest income; interest expense fell to $5.6 million on lower deposit rates.
