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United States : Peoples Bancorp Announces Second Quarter Earnings Results.

Peoples Bancorp of North Carolina, Inc. , the parent company of Peoples Bank, reported net earnings of $864,000 or $0.16 basic and diluted net earnings per share, before adjustment for preferred stock dividends and accretion, for the three months ended June 30, 2010 as compared to $1.4 million, or $0.25 basic and diluted net earnings per share, for the same period one year ago.

After adjusting for dividends and accretion on preferred stock, net earnings available to common shareholders for the three months ended June 30, 2010 were $515,000, or $0.09 basic and diluted net earnings per common share as compared to $1.0 million, or $0.18 basic and diluted net earnings per common share, for the same period one year ago. Tony W. Wolfe, President and Chief Executive Officer, attributed the decrease in second quarter earnings to an increase in provision for loan losses and a decrease in non-interest income, which were partially offset by a decrease in non-interest expense.

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Publication:TendersInfo
Article Type:Financial report
Date:Jul 27, 2010
Words:180
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