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<SEC-DOCUMENT>0001093672-06-000059.txt : 20061212
<SEC-HEADER>0001093672-06-000059.hdr.sgml : 20061212
<ACCEPTANCE-DATETIME>20061212100932
ACCESSION NUMBER:		0001093672-06-000059
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20061206
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20061212
DATE AS OF CHANGE:		20061212

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PEOPLES BANCORP OF NORTH CAROLINA INC
		CENTRAL INDEX KEY:			0001093672
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				562132396
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-27205
		FILM NUMBER:		061270379

	BUSINESS ADDRESS:	
		STREET 1:		518 WEST C STREET
		CITY:			NEWTON
		STATE:			NC
		ZIP:			28658-4007
		BUSINESS PHONE:		8284645620

	MAIL ADDRESS:	
		STREET 1:		PO BOX 467
		CITY:			NEWTON
		STATE:			NC
		ZIP:			28658-0467
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>stockrepurch8kdec62006.htm
<DESCRIPTION>8-K FOR DECEMBER 6, 2006
<TEXT>
<html>
  <head>
    <title>
      8-K for December 6, 2006
</title>
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            <tr>
              <td valign="top" width="8%">&#160;</td>
              <td valign="top" width="37%">
                <div align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UNITED
                  STATES</strong></font></div>
              </td>
              <td valign="top" width="8%">&#160;</td>
            </tr>
            <tr>
              <td valign="top" width="8%">&#160;</td>
              <td valign="top" width="37%">
                <div align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
                  AND EXCHANGE COMMISSION</strong></font></div>
              </td>
              <td valign="top" width="8%">&#160;</td>
            </tr>
            <tr>
              <td valign="top" width="8%">&#160;</td>
              <td valign="top" width="37%">
                <div align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Washington,
                  D.C. 20549</strong></font></div>
              </td>
              <td valign="top" width="8%">&#160;</td>
            </tr>
            <tr>
              <td valign="top" width="8%">&#160;</td>
              <td valign="top" width="37%">
                <div align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>______________________________</strong></font></div>
              </td>
              <td align="left" valign="top" width="8%">&#160;</td>
            </tr>

        </table>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td colspan="6" valign="top" width="89%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>FORM
                8-K</strong></font></div>
            </td>
          </tr>
          <tr>
            <td colspan="6" valign="top" width="89%">&#160;</td>
          </tr>
          <tr>
            <td colspan="6" valign="top" width="89%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
                REPORT </strong><strong>PURSUANT TO SECTION 13 OR
                15(D)</strong></font></div>
            </td>
          </tr>
          <tr>
            <td colspan="6" valign="top" width="89%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>OF
                THE SECURITIES EXCHANGE ACT OF 1934</strong></font></div>
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          <tr>
            <td align="left" colspan="6" valign="top" width="89%">&#160;</td>
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          <tr>
            <td align="left" colspan="6" valign="top" width="89%">&#160;</td>
          </tr>
          <tr>
            <td align="left" colspan="6" valign="top" width="89%">&#160;</td>
          </tr>
          <tr>
            <td colspan="6" valign="top" width="89%">
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                6, 2006</strong></font></div>
            </td>
          </tr>
          <tr>
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          <tr>
            <td align="left" colspan="6" valign="top" width="89%">&#160;</td>
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            <td align="left" colspan="6" valign="top" width="89%">&#160;</td>
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          <tr>
            <td colspan="6" valign="top" width="89%" style="border-bottom: #ffffff thin solid;">
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                Bancorp of North Carolina, Inc.</u></strong></font></div>
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                Name of Registrant as Specified in Its Charter)</font></div>
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          <tr>
            <td align="left" colspan="6" valign="top" width="89%">&#160;</td>
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          </tr>
          <tr>
            <td align="left" colspan="6" valign="top" width="89%">&#160;</td>
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          <tr>
            <td colspan="4" valign="top" width="45%" style="border-bottom: #ffffff thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>000-27205</u></strong></font></div>
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                File No.)</font></div>
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                Employer Identification No.)</font></div>
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                of Principal Executive Offices)</font></div>
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                Code)</font></div>
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            <td align="left" colspan="6" valign="top" width="89%">&#160;</td>
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          <tr>
            <td align="left" colspan="6" valign="top" width="89%">&#160;</td>
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            <td align="left" colspan="6" valign="top" width="89%">&#160;</td>
          </tr>
          <tr>
            <td colspan="6" valign="top" width="89%" style="border-bottom: #ffffff thin solid;">
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                464-5620</u></strong></font></div>
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            <td colspan="6" valign="top" width="89%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Registrant&#8217;s
                Telephone Number, Including Area Code)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="6" valign="top" width="89%">&#160;</td>
          </tr>
          <tr>
            <td align="left" colspan="6" valign="top" width="89%">&#160;</td>
          </tr>
          <tr>
            <td align="left" colspan="6" valign="top" width="89%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
                the appropriate box below if the Form 8-K filing is intended to
                simultaneously satisfy the filing obligation of the registrant under
                any
                of the following provisions:</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="6" valign="top" width="89%">&#160;</td>
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          <tr>
            <td align="left" valign="top" width="9%">&#160;</td>
            <td align="left" valign="top" width="2%" style="border-bottom: black thin solid;">&#160;</td>
            <td align="left" colspan="4" valign="top" width="78%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                230.425)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="6" valign="top" width="89%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="9%">&#160;</td>
            <td align="left" valign="top" width="2%" style="border-bottom: black thin solid;">&#160;</td>
            <td align="left" colspan="4" valign="top" width="78%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="6" valign="top" width="89%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="9%">&#160;</td>
            <td align="left" valign="top" width="2%" style="border-bottom: black thin solid;">&#160;</td>
            <td align="left" colspan="4" valign="top" width="78%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b))</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="6" valign="top" width="89%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="9%">&#160;</td>
            <td align="left" valign="top" width="2%" style="border-bottom: black thin solid;">&#160;</td>
            <td align="left" colspan="4" valign="top" width="78%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c))</font></div>
            </td>
          </tr>

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    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div><br>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="74%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Peoples
                  Bancorp of North Carolina, Inc.</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="74%">&#160;</td>
            </tr>
            <tr>
              <td valign="top" width="74%" style="border-bottom: #ffffff thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>INDEX</u></strong></font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div align="left">
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="44%">&#160;</td>
              <td align="left" valign="top" width="14%">&#160;</td>
              <td align="left" valign="top" width="6%" style="border-bottom: #ffffff thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Page</u></font></div>
              </td>
              <td align="left" valign="top" width="4%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="44%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
                  8.01 -&#160;Other Matters</font></div>
              </td>
              <td align="left" valign="top" width="14%">&#160;</td>
              <td align="left" valign="top" width="6%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3</font></div>
              </td>
              <td align="left" valign="top" width="4%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="44%">&#160;</td>
              <td align="left" valign="top" width="14%">&#160;</td>
              <td align="left" valign="top" width="6%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="44%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
                  9.01 - Financial Statements and Exhibits</font></div>
              </td>
              <td align="left" valign="top" width="14%">&#160;</td>
              <td align="left" valign="top" width="6%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3</font></div>
              </td>
              <td align="left" valign="top" width="4%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="44%">&#160;</td>
              <td align="left" valign="top" width="14%">&#160;</td>
              <td align="left" valign="top" width="6%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="44%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Signatures</font></div>
              </td>
              <td align="left" valign="top" width="14%">&#160;</td>
              <td align="left" valign="top" width="6%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4</font></div>
              </td>
              <td align="left" valign="top" width="4%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="44%">&#160;</td>
              <td align="left" valign="top" width="14%">&#160;</td>
              <td align="left" valign="top" width="6%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="44%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
                  (99)(a) Press release dated December 6, 2006</font></div>
              </td>
              <td align="left" valign="top" width="14%">&#160;</td>
              <td align="left" valign="top" width="6%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5</font></div>
              </td>
              <td align="left" valign="top" width="4%">&#160;</td>
            </tr>

        </table>
      </div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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              <tr>
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        cause such a difference include, but are not limited to, changes in interest
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    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
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    <div>&#160;</div>
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                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:
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                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/
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            </tr>
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              <td align="left" valign="top" width="12%">&#160;</td>
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              <td align="left" valign="top" width="12%">&#160;</td>
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    <div>&#160;</div>
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<DOCUMENT>
<TYPE>EX-99.(A)
<SEQUENCE>2
<FILENAME>ex99_a.htm
<DESCRIPTION>EXHIBIT (99)(A)
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      Exhibit (99)(a)
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                <td align="left" valign="top" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
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                <td align="left" valign="top" width="8%">&#160;</td>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><strong><u>For
          Immediate Release</u></strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
          <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
            <div id="FTR">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><strong><u>PEOPLES
                BANCORP CONTINUES STOCK REPURCHASE PLAN</u></strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Newton,
                NC - Peoples Bancorp of North Carolina, Inc. (Nasdaq: PEBK), the
                parent company
                of Peoples Bank announced today that its Board of Directors authorized
                the
                renewal of its stock repurchase program, whereby up to $2 million
                will be
                allocated to repurchase the Company&#8217;s common stock. </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any
                purchases under the Company&#8217;s repurchase program may be made, from time-to-time,
                in the open market or in privately negotiated transactions. The timing
                and
                amount of any repurchase of shares will be determined by the Company&#8217;s
                management, based on its evaluation of market conditions and other
                factors. The
                repurchase program may be suspended at any time or from time-to-time
                without
                prior notice. </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;The
                Board&#8217;s decision to continue the stock repurchase plan reflects management&#8217;s
                confidence in our Company&#8217;s future prospects. We believe this is an attractive
                opportunity to enhance shareholder value,&#8221; said Tony Wolfe, President and Chief
                Executive Officer.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Peoples
                Bank operates entirely in North Carolina, with eleven offices throughout
                Catawba
                County, one office in Alexander County, three offices in Lincoln
                County, two
                offices in Mecklenburg County and one office in Union County. The
                Bank also
                operates a Loan Production Office in Davidson, North Carolina, which
                is located
                in Mecklenburg County. The Company&#8217;s common stock is publicly traded over the
                counter and is quoted on the Nasdaq National Market under the symbol
&#8220;PEBK.&#8221;
</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Statements
                made in this press release, other than those concerning historical
                information,
                should be considered forward-looking statements pursuant to the safe
                harbor
                provisions of the Securities Exchange Act of 1934 and the Private
                Securities
                Litigation Act of 1995. These forward-looking statements are based
                on
                information currently available to management and are subject to
                various risks
                and uncertainties, including but not limited to those described in
                Peoples
                Bancorp of North Carolina, Inc.&#8217;s annual report on Form 10-K for the year ended
                December 31, 2005, under &#8220;General Description of Business&#8221; and otherwise in the
                Company&#8217;s reports and filings.</strong></font></div>
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