<SEC-DOCUMENT>0001093672-16-000075.txt : 20160621
<SEC-HEADER>0001093672-16-000075.hdr.sgml : 20160621
<ACCEPTANCE-DATETIME>20160621100607
ACCESSION NUMBER:		0001093672-16-000075
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20160620
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20160621
DATE AS OF CHANGE:		20160621

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:		161723517

	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>
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<TYPE>8-K
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<FILENAME>form8kforjun162016.htm
<DESCRIPTION>FORM 8-K FOR JUN 16, 2016
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">OF THE SECURITIES EXCHANGE ACT OF 1934</div>
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<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Date of Report (Date of earliest event reported):&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 16, 2016</font></font></div>
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<div style="TEXT-ALIGN: center"><u>Peoples Bancorp of North Carolina, Inc.</u></div>
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<div style="TEXT-ALIGN: center"><u>000-27205</u></div>
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<div style="TEXT-ALIGN: center"><u>56-2132396</u></div>
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<div style="TEXT-ALIGN: center"><u>518 West C Street, Newton, North Carolina</u></div>
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<div style="TEXT-ALIGN: center"><u>(828) 464-5620</u></div>
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<div style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">Peoples Bancorp of North Carolina, Inc.&#160;&#160;</div>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">On April 2, 2013, Peoples Bank (the "Bank"), a subsidiary of Peoples Bancorp of North Carolina, Inc., received notice that a lawsuit was filed against it in the General Court of Justice, Superior Court Division, Lincoln County, North Carolina.&#160; The complaint alleged (i) breach of contract and the covenants of good faith and fair dealing by the Bank, (ii) conversion, (iii) unjust enrichment and (iv) violations of the North Carolina Unfair and Deceptive Trade Practices Act in its assessment and collection of overdraft fees.&#160; It sought the refund of overdraft fees, treble damages, attorneys' fees and injunctive relief.&#160; The Plaintiff sought to have the lawsuit certified as a class action.&#160; On June 10, 2015, the North Carolina Business Court granted summary judgment in favor of the Bank on all claims and ordered the case dismissed with prejudice.&#160; The Plaintiff appealed to the North Carolina Court of Appeals which, on May 3, 2016, in a unanimous opinion, affirmed the dismissal of the lawsuit by the Business Court.&#160; On June 16, 2016, the North Carolina Business Court entered an order dissolving the appellate stay, effectively ending the suit against the Bank.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Statements made in this Form 8-K, 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.&#160; These forward-looking statements involve risks and uncertainties and are based on the beliefs and assumptions of management and on the information available to management at the time that this report was prepared.&#160; These statements can be identified by the use of words like "expect," "anticipate," "estimate," and "believe," variations of these words and other similar expressions.&#160; Readers should not place undue reliance on forward-looking statements as a number of important factors could cause actual results to differ materially from those in the forward-looking statements.<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160; </font>Factors that might cause such a difference include, but are not limited to, changes in interest rate environment, management's business strategy, national, regional, and local market conditions and legislative and regulatory conditions.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.&#160; Readers should also carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">Date:&#160; June 21, 2016</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">/s/ A. Joseph Lampron, Jr.</div>
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