Peoples Bancorp of North Carolina, Inc. reported a solid financial performance for the fiscal year ending December 31, 2025, with total assets reaching $1.70 billion, a 10% increase from the previous year. The company reported net loans of $1.20 billion and deposits of $1.51 billion, reflecting a growth of 8% and 9%, respectively. Shareholders' equity stood at $157.1 million, indicating a stable capital position. The bank's diversified loan portfolio primarily consists of commercial and real estate loans, with no foreign loans and minimal agricultural loans, which contributed to its overall financial stability.
Compared to the previous fiscal period, the company experienced notable changes, including a 15% increase in total revenue, driven by higher interest income from its loan portfolio. The net interest margin improved slightly, attributed to effective management of interest rates and a competitive deposit product offering. The bank's efficiency ratio also showed improvement, indicating better cost management and operational efficiency. However, the company acknowledged potential risks from rising interest rates and inflation, which could impact borrowers' repayment capabilities.
Strategically, Peoples Bancorp has focused on expanding its market presence, operating 15 banking offices and several loan production offices across North Carolina. The bank has also enhanced its product offerings, including investment counseling and real estate advisory services through its subsidiaries. The company is committed to fostering a culture of diversity and inclusion, emphasizing employee development and customer service excellence. As of December 31, 2025, the bank employed 268 full-time and eight part-time employees, reflecting a stable workforce.
Operationally, the bank reported a customer base growth, with a significant increase in deposit accounts due to competitive rates and new product launches. The bank's market share in Catawba County was reported at 23.54%, maintaining its position as the leading financial institution in the area. The bank's commitment to community reinvestment was highlighted by its "satisfactory" rating in the latest Community Reinvestment Act examination, conducted in May 2023. The company also noted the importance of maintaining robust cybersecurity measures to protect customer data and ensure operational continuity.
Looking ahead, Peoples Bancorp expressed a cautious but optimistic outlook, anticipating continued growth in its loan and deposit portfolios. The company plans to focus on enhancing its digital banking capabilities and expanding its service offerings to meet evolving customer needs. However, management remains vigilant regarding potential economic headwinds, including inflation and interest rate fluctuations, which could impact financial performance. The company is committed to maintaining its capital adequacy and compliance with regulatory requirements to support its growth strategy.
About PEOPLES BANCORP OF NORTH CAROLINA INC
Peoples Bancorp of North Carolina, Inc. is a bank holding company primarily engaged in owning and operating Peoples Bank, a community-focused financial institution serving North Carolina. The bank offers retail and commercial banking services, including loans, deposits, and investment products, targeting individuals and small-to-medium-sized businesses. Its core value lies in community banking, local market expertise, and a diversified loan portfolio supported by regulatory compliance and strong capital standards.
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