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16. Peoples Bancorp of North Carolina, Inc. (Parent Company Only) Condensed Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Balance Sheets |
Balance Sheets
December 31, 2015 and 2014
(Dollars in thousands)
Assets |  | 2015 |  |  | 2014 |
Cash |  | $ | 558 |  |  |  | 745 |
Interest-bearing time deposit |  |  | 1,000 |  |  |  | 1,000 |
Investment in subsidiaries |  |  | 121,848 |  |  |  | 115,457 |
Investment in PEBK Capital Trust II |  |  | 619 |  |  |  | 619 |
Investment securities available for sale |  |  | 1,234 |  |  |  | 1,235 |
Other assets |  |  | 244 |  |  |  | 245 |
Total assets |  | $ | 125,503 |  |  |  | 119,301 |
Liabilities and Shareholders' Equity |  |  |  |  |  |  |  |
Junior subordinated debentures |  | $ | 20,619 |  |  |  | 20,619 |
Liabilities |  |  | 20 |  |  |  | 17 |
Shareholders' equity |  |  | 104,864 |  |  |  | 98,665 |
Total liabilities and shareholders' equity |  | $ | 125,503 |  |  |  | 119,301 |
Statements of Earnings |
Statements of Earnings
For the Years Ended December 31, 2015, 2014 and 2013
(Dollars in thousands)
Revenues: |  | 2015 |  |  | 2014 |  |  | 2013 |
Interest and dividend income |  | $ | 3,979 |  |  |  | 2,718 |  |  |  | 13,576 |
Total revenues |  |  | 3,979 |  |  |  | 2,718 |  |  |  | 13,576 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Interest |  |  | 403 |  |  |  | 389 |  |  |  | 398 |
Other operating expenses |  |  | 538 |  |  |  | 527 |  |  |  | 159 |
Total expenses |  |  | 941 |  |  |  | 916 |  |  |  | 557 |
Income before income tax benefit and equity in |  |  |  |  |  |  |  |  |  |  |  |
undistributed earnings of subsidiaries |  |  | 3,038 |  |  |  | 1,802 |  |  |  | 13,019 |
Income tax benefit |  |  | 262 |  |  |  | 239 |  |  |  | 84 |
Income before equity in undistributed |  |  |  |  |  |  |  |  |  |  |  |
earnings of subsidiaries |  |  | 3,300 |  |  |  | 2,041 |  |  |  | 13,103 |
Equity in undistributed earnings (loss) of subsidiaries |  |  | 6,333 |  |  |  | 7,347 |  |  |  | (6,412 | )
Net earnings |  | $ | 9,633 |  |  |  | 9,388 |  |  |  | 6,691 |
Statements of Cash Flows |
Statements of Cash Flows
For the Years Ended December 31, 2015, 2014 and 2013
(Dollars in thousands)
|  | 2015 |  |  | 2014 |  |  | 2013 |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net earnings |  | $ | 9,633 |  |  |  | 9,388 |  |  |  | 6,691 |
Adjustments to reconcile net earnings to net |  |  |  |  |  |  |  |  |  |  |  |
cash provided (used) by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed earnings of subsidiaries |  |  | (6,333 | ) |  |  | (7,347 | ) |  |  | 6,412 |
Change in: |  |  |  |  |  |  |  |  |  |  |  |
Other assets |  |  | 1 |  |  |  | 28 |  |  |  | (73 | )
Accrued income |  |  | - |  |  |  | (5 | ) |  |  | - |
Accrued expense |  |  | 3 |  |  |  | 1 |  |  |  | 27 |
Other liabilities |  |  | - |  |  |  | (108 | ) |  |  | 108 |
Net cash provided (used) by operating activities |  |  | 3,304 |  |  |  | 1,957 |  |  |  | 13,165 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from maturities of investment securities available for sale |  |  | - |  |  |  | 500 |  |  |  | 1 |
Net change in interest-bearing time deposit |  |  | - |  |  |  | (1,000 | ) |  |  | 800 |
Net cash provided (used) by investing activities |  |  | - |  |  |  | (500 | ) |  |  | 801 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Cash dividends paid on Series A preferred stock |  |  | - |  |  |  | - |  |  |  | (734 | )
Cash dividends paid on common stock |  |  | (1,574 | ) |  |  | (1,022 | ) |  |  | (677 | )
Preferred stock and warrant repurchase |  |  | - |  |  |  | (12,524 | ) |  |  | - |
Stock repurchase |  |  | (1,917 | ) |  |  | (82 | ) |  |  | - |
Proceeds from exercise of stock options |  |  | - |  |  |  | 37 |  |  |  | - |
Net cash used by financing activities |  |  | (3,491 | ) |  |  | (13,591 | ) |  |  | (1,411 | )
Net change in cash |  |  | (187 | ) |  |  | (12,134 | ) |  |  | 12,555 |
Cash at beginning of year |  |  | 745 |  |  |  | 12,879 |  |  |  | 324 |
Cash at end of year |  | $ | 558 |  |  |  | 745 |  |  |  | 12,879 |
Noncash investing and financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Change in unrealized gain on investment securities |  |  |  |  |  |  |  |  |  |  |  |
available for sale, net |  | $ | 1 |  |  |  | 8 |  |  |  | 77 |
Accrued redemption of Series A Preferred Stock |  |  | - |  |  |  | - |  |  |  | 12,632 |

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