Peoples Bancorp of North Carolina, Inc. (PEBK), the parent company of Peoples Bank, reported net income available to common shareholders for the third quarter of $1.0 million or $0.19 per share, compared to $192,000 or $0.03 per share for the year-ago quarter.
The company attributed the increase in third quarter earnings to an increase in net interest income and decreases in the provision for loan losses and non-interest expense, which were partially offset by a decrease in non-interest income.
Net interest incomefor the third quarter grew to $8.6 million from $8.5 million a year ago. Provision for loan losses for the third quarter was $3.4 million, down from $4.7 million last year.
Non-interest income for the quarter fell to $3.7 million from $3.9 million a year earlier.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.