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16. Peoples Bancorp of North Carolina, Inc. (Parent Company Only) Condensed Financial Statements

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Peoples Bancorp of North Carolina, Inc. (Parent Company Only) Condensed Financial Statements

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
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
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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- References

No definition available.

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X

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51664549&loc=d3e5283-111683

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04)
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph c
-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 06
-Article 9

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 05
-Paragraph c
-Article 7

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