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16. Peoples Bancorp of North Carolina, Inc. (Parent Company Only) Condensed Financial Statements | 12 Months Ended
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Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract] |
Peoples Bancorp of North Carolina, Inc. (Parent Company Only) Condensed Financial Statements | Balance Sheets December 31, 2018 and 2017 (Dollars in thousands)
Assets |  | 2018 |  | 2017
Cash |  | $ | 689 |  |  |  | 428 |
Interest-bearing time deposit |  |  | 1,000 |  |  |  | 1,000 |
Investment in subsidiaries |  |  | 141,181 |  |  |  | 133,781 |
Investment in PEBK Capital Trust II |  |  | 619 |  |  |  | 619 |
Investment securities available for sale |  |  | 250 |  |  |  | 250 |
Other assets |  |  | 533 |  |  |  | 546 |
Total assets |  | $ | 144,272 |  |  |  | 136,624 |
Liabilities and Shareholders' Equity |  |  |  |  |  |  |  |
Junior subordinated debentures |  | $ | 20,619 |  |  |  | 20,619 |
Liabilities |  |  | 36 |  |  |  | 30 |
Shareholders' equity |  |  | 123,617 |  |  |  | 115,975 |
Total liabilities and shareholders' equity |  | $ | 144,272 |  |  |  | 136,624 |
Statements of Earnings For the Years Ended December 31, 2018, 2017 and 2016 (Dollars in thousands)
Revenues: |  | 2018 |  | 2017 |  | 2016
Interest and dividend income |  | $ | 4,544 |  |  |  | 1,839 |  |  |  | 4,569 |
Gain on sale of securities |  |  | — |  |  |  | — |  |  |  | 405 |
Total revenues |  |  | 4,544 |  |  |  | 1,839 |  |  |  | 4,974 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Interest |  |  | 790 |  |  |  | 590 |  |  |  | 485 |
Other operating expenses |  |  | 678 |  |  |  | 725 |  |  |  | 513 |
Total expenses |  |  | 1,468 |  |  |  | 1,315 |  |  |  | 998 |
Income before income tax benefit and equity in |  |  |  |  |  |  |  |  |  |  |  |
undistributed earnings of subsidiaries |  |  | 3,076 |  |  |  | 524 |  |  |  | 3,976 |
Income tax benefit |  |  | 299 |  |  |  | 434 |  |  |  | 178 |
Income before equity in undistributed |  |  |  |  |  |  |  |  |  |  |  |
earnings of subsidiaries |  |  | 3,375 |  |  |  | 958 |  |  |  | 4,154 |
Equity in undistributed earnings of subsidiaries |  |  | 10,007 |  |  |  | 9,310 |  |  |  | 5,023 |
Net earnings |  | $ | 13,382 |  |  |  | 10,268 |  |  |  | 9,177 |
Statements of Cash Flows For the Years Ended December 31, 20178, 2017 and 2016 (Dollars in thousands)
|  | 2018 |  | 2017 |  | 2016
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net earnings |  | $ | 13,382 |  |  |  | 10,268 |  |  |  | 9,177 |
Adjustments to reconcile net earnings to net |  |  |  |  |  |  |  |  |  |  |  |
cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed earnings of subsidiaries |  |  | (10,007 | ) |  |  | (9,310 | ) |  |  | (5,023 | )
Gain on sale of investment securities |  |  | — |  |  |  | — |  |  |  | (405 | )
Change in: |  |  |  |  |  |  |  |  |  |  |  |
Other assets |  |  | 13 |  |  |  | (272 | ) |  |  | 61 |
Other liabilities |  |  | 6 |  |  |  | 5 |  |  |  | 5 |
Net cash provided by operating activities |  |  | 3,394 |  |  |  | 691 |  |  |  | 3,815 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from calls and maturities of investment securities |  |  |  |  |  |  |  |  |  |  |  |
available for sale |  |  | — |  |  |  | 500 |  |  |  | 669 |
In kind transfer from parent to Bank |  |  | — |  |  |  | — |  |  |  | 10 |
Net cash provided by investing activities |  |  | — |  |  |  | 500 |  |  |  | 679 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Cash dividends paid on common stock |  |  | (3,133 | ) |  |  | (2,629 | ) |  |  | (2,106 | )
Cash in lieu stock dividend |  |  | — |  |  |  | (6 | ) |  |  | — |
Stock repurchase |  |  | — |  |  |  | — |  |  |  | (1,984 | )
Proceeds from exercise of restricted stock units |  |  | — |  |  |  | 915 |  |  |  | — |
Net cash used by financing activities |  |  | (3,133 | ) |  |  | (1,720 | ) |  |  | (4,090 | )
Net change in cash |  |  | 261 |  |  |  | (529 | ) |  |  | 404 |
Cash at beginning of year |  |  | 428 |  |  |  | 957 |  |  |  | 553 |
Cash at end of year |  | $ | 689 |  |  |  | 428 |  |  |  | 957 |
Noncash investing and financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Change in unrealized gain on investment securities |  |  |  |  |  |  |  |  |  |  |  |
available for sale, net |  | $ | (2,607 | ) |  |  | (1 | ) |  |  | (2,523 | )

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 + Details
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