<SEC-DOCUMENT>0001654954-20-001687.txt : 20200218
<SEC-HEADER>0001654954-20-001687.hdr.sgml : 20200218
<ACCEPTANCE-DATETIME>20200218140654
ACCESSION NUMBER:		0001654954-20-001687
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200218
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200218
DATE AS OF CHANGE:		20200218

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:		20624621

	BUSINESS ADDRESS:	
		STREET 1:		518 WEST C STREET
		STREET 2:		PO BOX 467
		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>pebk_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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UNITED STATES</font></div>
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SECURITIES AND EXCHANGE COMMISSION</font></div>
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Washington, D.C. 20549</font></div>
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FORM 8-K</font></div>
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CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D)</font></div>
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OF THE SECURITIES EXCHANGE ACT OF 1934</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Date of
Report (Date of earliest event reported): <font style="font-weight: bold">February 18, 2020</font></font></div>
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<font style="text-decoration: underline; font-weight: bold; font-family: Times New Roman; font-size: 13px">
Peoples Bancorp of North Carolina, Inc.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(Exact
Name of Registrant as Specified in Its Charter)</font></div>
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<font style="text-decoration: underline; font-weight: bold; font-family: Times New Roman; font-size: 13px">
North Carolina</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(State
or Other Jurisdiction of Incorporation)</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
000-27205</font></div>
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56-2132396</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(Commission
File No.)</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(IRS
Employer Identification No.)</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
518 West C Street, Newton, North Carolina</font></div>
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28658</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(Address
of Principal Executive Offices)</font></div>
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<div><font>&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(Zip
Code)</font></div>
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<font style="text-decoration: underline; font-weight: bold; font-family: Times New Roman; font-size: 13px">
(828) 464-5620</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(Registrant&#x2019;s
Telephone Number, Including Area Code)</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">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>
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<font style="font-family: Times New Roman; font-size: 13px">Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x2610;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">Peoples
Bancorp of North Carolina, Inc.</font></div>
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INDEX</font></div>
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Page</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Item
8.01 &#x2013; Other Events</font></div>
</td>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">3</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Item
9.01 &#x2013; Financial Statements and Exhibits</font></div>
</td>
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<font style="font-family: Times New Roman; font-size: 13px">3</font></div>
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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Signatures</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">4</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Exhibit
(99)(a) Press Release dated February 18, 2020</font></div>
</td>
<td style="vertical-align: top; width: 8%;">
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<font style="font-family: Times New Roman; font-size: 13px">5</font></div>
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<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">2</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">
Item 8.01. Other Events</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">On
February 18, 2020, Peoples Bancorp of North Carolina, Inc. issued a
press release announcing a Stock Repurchase Plan authorizing the
repurchase of outstanding shares totaling up to
$3,000,000.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">A copy
of the press release is attached hereto as Exhibit (99)(a) and is
incorporated by reference herein.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;<br>
</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Item 9.01. Financial Statements and Exhibits</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
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<font style="font-family: Times New Roman; font-size: 13px">(d)</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Exhibits</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: left; display: table-cell; width: 60px;">
<a href="pebk_ex99a.htm"><font style="font-family: Times New Roman; font-size: 13px">(99)(a)</font></a></div>
<div style="text-align: justify; display: table-cell; margin-left: 0px; text-indent: 0px; margin-right: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">Press
Release dated February 18, 2020</font></div>
</div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;<br>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Disclosure about forward-looking statements</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">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. 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. These statements can be identified by the use of
words like &#x201C;expect,&#x201D; &#x201C;anticipate,&#x201D;
&#x201C;estimate,&#x201D; and &#x201C;believe,&#x201D; variations of
these words and other similar expressions. 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-weight: bold">&#xA0;</font>Factors that might cause such a
difference include, but are not limited to, changes in interest
rate environment, management&#x2019;s business strategy, national,
regional, and local market conditions and legislative and
regulatory conditions.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company undertakes no obligation to publicly revise these
forward-looking statements to reflect subsequent events or
circumstances. 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.</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
SIGNATURES</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">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.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;<br>
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<div><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold"><font style="font-family: Times New Roman; font-size: 13px">PEOPLES BANCORP OF
NORTH CAROLINA, INC.</font></font></font></div>
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<td style="vertical-align: top; width: 40%; border-bottom: medium solid rgb(255, 255, 255);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-family: Times New Roman; font-size: 13px">Date: February 18,
2020</font></font></div>
</td>
<td style="vertical-align: top; width: 3%; border-bottom: medium solid rgb(255, 255, 255);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">By:&#xA0;&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 40%; border-bottom: 2px solid black; white-space: nowrap;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">/s/ <font style="font-family: Times New Roman; font-size: 13px">A. Joseph Lampron,
Jr.</font> &#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 17%; border-bottom: medium solid rgb(255, 255, 255);">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-family: Times New Roman; font-size: 13px">A. Joseph Lampron,
Jr.</font></font></div>
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<font style="font-size: 13px; font-family: Times New Roman"><font style="font-family: Times New Roman; font-size: 13px">Executive Vice
President and Chief Financial Officer</font></font></div>
</td>
<td style="width: 17%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
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<DOCUMENT>
<TYPE>EX-99.A
<SEQUENCE>2
<FILENAME>pebk_ex99a.htm
<DESCRIPTION>ADDITIONAL EXHIBITS
<TEXT>
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EXHIBIT (99)(a)</font></div>
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NEWS RELEASE</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
February 18, 2020</font></div>
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Contact:</font></div>
</td>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Lance A. Sellers</font></div>
</td>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 90%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
President and Chief Executive Officer</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 90%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
A. Joseph Lampron, Jr.</font></div>
</td>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Executive Vice President and Chief Financial Officer</font></div>
</td>
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<td style="vertical-align: top; width: 10%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
828-464-5620, Fax 828-465-6780</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="text-decoration: underline; font-weight: bold; font-family: Times New Roman; font-size: 13px">
For Immediate Release</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="text-decoration: underline; font-weight: bold; font-family: Times New Roman; font-size: 13px">
PEOPLES BANCORP ANNOUNCES AUTHORIZATION OF STOCK REPURCHASE
PLAN</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Peoples
Bancorp of North Carolina, Inc. (Nasdaq: PEBK), the parent company
of Peoples Bank, Newton, NC announced today that its Board of
Directors has authorized a stock repurchase program, whereby up to
$3 million will be allocated to repurchase the Company&#x2019;s
common stock. At December 31, 2019, the Company had assets of $1.2
billion and stockholder&#x2019;s equity of $134.1
million.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;<br></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Any
purchases under the Company&#x2019;s repurchase program may be made
periodically as permitted by securities laws and other legal
requirements in the open market or in privately-negotiated
transactions. The timing and amount of any repurchase of shares
will be determined by the Company&#x2019;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><font style="font-family: Times New Roman; font-size: 10">&#xA0;<br></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;The
Board&#x2019;s decision to repurchase stock was based on the
strength of the Company&#x2019;s balance sheet and capital position.
We believe this is an appropriate way to utilize capital and
enhance shareholder value,&#x201D; said Lance Sellers, President and
Chief Executive Officer.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;<br></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Peoples
Bank currently operates 19 banking offices entirely in North
Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg,
Iredell and Wake Counties. Peoples Bank also operates loan
production offices in Lincoln, Mecklenburg, and Durham Counties.
The Company&#x2019;s common stock is publicly traded and is quoted
on the Nasdaq Global Market under the symbol
&#x201C;PEBK.&#x201D;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
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 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 release was prepared. These statements can be
identified by the use of words like &#x201C;expect,&#x201D;
&#x201C;anticipate,&#x201D; &#x201C;estimate,&#x201D; and
&#x201C;believe,&#x201D; variations of these words and other similar
expressions. 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. Factors that could cause actual results
to differ include, but are not limited to, (1) competition in the
markets served by Peoples Bank, (2) changes in the interest rate
environment, (3) general national, regional or local economic
conditions may be less favorable than expected, resulting in, among
other things, a deterioration in credit quality and the possible
impairment of collectibility of loans, (4) legislative or
regulatory changes, including changes in accounting standards, (5)
significant changes in the federal and state legal and regulatory
environment and tax laws, (6) the impact of changes in monetary and
fiscal policies, laws, rules and regulations and (7) other risks
and factors identified in the Company&#x2019;s other filings with
the Securities and Exchange Commission, including but not limited
to those described in the Company&#x2019;s annual report on Form
10-K for the year ended December 31, 2018.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 10">&#xA0;</font>
<font style="font-family: Times New Roman; font-size: 13px"><br>
</font></div>
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