Net interest income has demonstrated a consistent upward trajectory, growing from $13.3 million in 2023Q4 to $15.1 million by 2026Q1, despite maintaining a relatively stable net interest margin of approximately 0.9%.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Net Interest Income | 60.18M | 59.02M | 54.08M | 54.72M | 51.11M | 43.97M | 44.12M | 45.84M | 43.2M | 39.57M | 36.54M | 35.18M | 34.13M | 31.34M | 31.55M | 34.31M | 33.33M | 32.85M | 32.8M | 34.15M | 32.28M | 26.48M | 23.92M | 22.11M | 20.85M | 18.87M | 21.43M | 17.51M | 14.7M | 12.6M | 10.4M |
| NII Growth % | 39.9% | 9.13% | -1.17% | 7.07% | 16.22% | -0.34% | -3.76% | 6.11% | 9.18% | 8.3% | 3.85% | 3.07% | 8.9% | -0.65% | -8.06% | 2.94% | 1.47% | 0.16% | -3.96% | 5.77% | 21.9% | 10.72% | 8.21% | 6.04% | 10.47% | -11.93% | 22.36% | 19.13% | 16.67% | 21.15% | 10.64% |
| Net Interest Margin % | 3.47% | 3.47% | 3.27% | 3.34% | 3.15% | 2.71% | 3.12% | 3.97% | 3.95% | 3.62% | 3.36% | 3.39% | 3.28% | 3.03% | 3.11% | 3.22% | 3.12% | 3.13% | 3.39% | 3.76% | 3.94% | 3.63% | 3.49% | 3.28% | 3.23% | 3.05% | 4.13% | 4.05% | 3.65% | 3.85% | 4.03% |
| Interest Income | 84.52M | 83.62M | 80.73M | 71.86M | 54.43M | 47.18M | 47.96M | 49.6M | 45.35M | 41.95M | 39.81M | 38.67M | 38.42M | 36.7M | 39.24M | 45.26M | 47.68M | 50.04M | 56.32M | 61.73M | 55.39M | 41.91M | 36.26M | 34.85M | 36.62M | 41.9M | 40.86M | 32.3M | 29.2M | 23.8M | 19M |
| Interest Expense | 24.35M | 24.6M | 26.65M | 17.14M | 3.32M | 3.21M | 3.84M | 3.76M | 2.15M | 2.38M | 3.27M | 3.48M | 4.29M | 5.35M | 7.7M | 10.95M | 14.35M | 17.19M | 23.53M | 27.58M | 23.11M | 15.43M | 12.34M | 12.75M | 15.78M | 23.03M | 19.43M | 14.79M | 14.5M | 11.2M | 8.6M |
| Loan Loss Provision | 1.23M | 938K | -285K | 1.57M | 1.47M | -1.16M | 4.26M | 863K | 790K | -507K | -1.21M | -17K | -699K | 2.58M | 4.92M | 12.63M | 16.44M | 10.54M | 4.79M | 2.04M | 2.51M | 3.11M | 3.26M | 6.74M | 5.43M | 3.55M | 1.88M | 425K | 400K | 700K | 1M |
| Non-Interest Income | 23.88M | 30.98M | 17.06M | 13.92M | 16.29M | 16.7M | 16.63M | 13.91M | 12.17M | 11.62M | 12.84M | 12.32M | 11.26M | 11.83M | 12.54M | 14.51M | 13.88M | 12.55M | 10.49M | 8.82M | 7.55M | 6.67M | 6.06M | 5.93M | 6.49M | 8.26M | 3.92M | 3.38M | 3.6M | 2.06M | 1.5M |
| Non-Interest Income % | 22.03% | 27.03% | 17.45% | 16.22% | 23.03% | 26.15% | 25.75% | 21.9% | 21.16% | 21.69% | 24.38% | 24.17% | 22.66% | 24.38% | 24.21% | 24.28% | 22.55% | 20.05% | 15.71% | 12.5% | 12% | 13.73% | 14.32% | 14.53% | 15.05% | 16.47% | 8.75% | 9.47% | 10.98% | 7.97% | 7.32% |
| Total Revenue | 108.4M | 114.6M | 97.79M | 85.78M | 70.72M | 63.88M | 64.59M | 63.51M | 57.52M | 53.57M | 52.64M | 50.99M | 49.68M | 48.52M | 51.78M | 59.77M | 61.56M | 62.58M | 66.82M | 70.55M | 62.95M | 48.58M | 42.31M | 40.78M | 43.11M | 50.16M | 44.78M | 35.68M | 32.8M | 25.86M | 20.5M |
| Revenue Growth % | 42.56% | 17.18% | 14.01% | 21.3% | 10.7% | -1.09% | 1.7% | 10.41% | 7.37% | 1.76% | 3.24% | 2.64% | 2.38% | -6.29% | -13.37% | -2.91% | -1.63% | -6.34% | -5.29% | 12.07% | 29.57% | 14.81% | 3.76% | -5.42% | -14.05% | 12.03% | 25.48% | 8.79% | 26.83% | 26.15% | 17.14% |
| Non-Interest Expense | 56.95M | 63.21M | 50.5M | 47.15M | 45.63M | 42.91M | 42.65M | 41.68M | 38.58M | 37.49M | 38.84M | 34.79M | 34.77M | 32.02M | 31.78M | 29.57M | 28.95M | 30.61M | 28.89M | 25.99M | 22.98M | 20.33M | 20.06M | 18.23M | 16.76M | 16.75M | 15.51M | 13.83M | 12.1M | 10.46M | 8.2M |
| Efficiency Ratio | 52.54% | 55.16% | 51.64% | 54.96% | 64.52% | 67.17% | 66.03% | 65.64% | 67.07% | 69.97% | 73.78% | 68.23% | 69.98% | 65.98% | 61.38% | 49.47% | 47.02% | 48.9% | 43.24% | 36.84% | 36.51% | 41.85% | 47.4% | 44.7% | 38.87% | 33.4% | 34.64% | 38.76% | 36.89% | 40.45% | 40% |
| Operating Income | 25.87M | 25.85M | 20.93M | 19.92M | 20.3M | 18.93M | 13.85M | 17.2M | 16.01M | 14.21M | 11.74M | 12.73M | 11.32M | 8.57M | 7.38M | 6.62M | 1.83M | 4.25M | 9.6M | 14.93M | 14.34M | 9.71M | 6.66M | 3.06M | 5.15M | 6.84M | 7.95M | 6.64M | 5.8M | 3.5M | 2.7M |
| Operating Margin % | 23.86% | 22.56% | 21.4% | 23.23% | 28.7% | 29.63% | 21.44% | 27.09% | 27.83% | 26.53% | 22.3% | 24.97% | 22.8% | 17.66% | 14.25% | 11.08% | 2.97% | 6.8% | 14.37% | 21.17% | 22.78% | 19.99% | 15.75% | 7.5% | 11.94% | 13.63% | 17.77% | 18.6% | 17.68% | 13.53% | 13.17% |
| Operating Income Growth % | - | 23.51% | 5.05% | -1.83% | 7.22% | 36.71% | -19.51% | 7.48% | 12.6% | 21.1% | -7.81% | 12.43% | 32.15% | 16.12% | 11.45% | 261.86% | -56.99% | -55.7% | -35.68% | 4.12% | 47.66% | 45.74% | 117.84% | -40.57% | -24.71% | -14.05% | 19.89% | 14.4% | 65.71% | 29.63% | 12.5% |
| Pretax Income | 25.87M | 25.85M | 20.93M | 19.92M | 20.3M | 18.93M | 13.85M | 17.2M | 16.01M | 14.21M | 11.74M | 12.73M | 11.32M | 8.57M | 7.38M | 6.62M | 1.83M | 4.25M | 9.6M | 14.93M | 14.34M | 9.71M | 6.66M | 3.06M | 5.15M | 6.84M | 7.95M | 6.64M | 5.8M | 3.5M | 2.7M |
| Pretax Margin % | 23.86% | 22.56% | 21.4% | 23.23% | 28.7% | 29.63% | 21.44% | 27.09% | 27.83% | 26.53% | 22.3% | 24.97% | 22.8% | 17.66% | 14.25% | 11.08% | 2.97% | 6.8% | 14.37% | 21.17% | 22.78% | 19.99% | 15.75% | 7.5% | 11.94% | 13.63% | 17.77% | 18.6% | 17.68% | 13.53% | 13.17% |
| Income Tax | 5.98M | 6.02M | 4.58M | 4.38M | 4.17M | 3.8M | 2.49M | 3.14M | 2.62M | 3.95M | 2.56M | 3.1M | 1.94M | 1.88M | 1.59M | 1.46M | -11K | 1.34M | 3.21M | 5.34M | 5.17M | 3.38M | 2.23M | 1.06M | 1.71M | 2.26M | 2.58M | 2.09M | 1.8M | 1.1M | 700K |
| Effective Tax Rate % | 23.13% | 23.29% | 21.86% | 21.97% | 20.56% | 20.05% | 17.98% | 18.23% | 16.39% | 27.77% | 21.82% | 24.35% | 17.1% | 21.93% | 21.5% | 22.09% | -0.6% | 31.47% | 33.45% | 35.76% | 36.05% | 34.81% | 33.51% | 34.5% | 33.26% | 33.08% | 32.39% | 31.55% | 31.03% | 31.43% | 25.93% |
| Net Income | 19.88M | 19.83M | 16.35M | 15.55M | 16.12M | 15.13M | 11.36M | 14.07M | 13.38M | 10.27M | 9.18M | 9.63M | 9.39M | 6.69M | 5.79M | 5.16M | 1.84M | 2.92M | 6.39M | 9.59M | 9.17M | 6.33M | 4.43M | 2M | 3.44M | 4.58M | 5.38M | 4.54M | 4M | 2.4M | 2M |
| Net Margin % | 18.34% | 17.3% | 16.72% | 18.12% | 22.8% | 23.69% | 17.58% | 22.15% | 23.27% | 19.17% | 17.43% | 18.89% | 18.9% | 13.79% | 11.19% | 8.63% | 2.99% | 4.66% | 9.56% | 13.6% | 14.57% | 13.03% | 10.47% | 4.91% | 7.97% | 9.12% | 12.01% | 12.73% | 12.2% | 9.28% | 9.76% |
| Net Income Growth % | 18.7% | 21.26% | 5.19% | -3.58% | 6.54% | 33.25% | -19.26% | 5.12% | 30.33% | 11.89% | -4.73% | 2.61% | 40.31% | 15.5% | 12.29% | 180.23% | -36.87% | -54.37% | -33.37% | 4.59% | 44.86% | 42.88% | 121.15% | -41.68% | -24.91% | -14.93% | 18.42% | 13.55% | 66.67% | 20% | 17.65% |
| Net Income (Continuing) | 19.88M | 19.83M | 16.35M | 15.55M | 16.12M | 15.13M | 11.36M | 14.07M | 13.38M | 10.27M | 9.18M | 9.63M | 9.39M | 6.69M | 5.79M | 5.16M | 1.84M | 2.92M | 6.39M | 9.59M | 9.17M | 6.33M | 4.43M | 2M | 3.44M | 4.58M | 5.38M | 4.54M | 4M | 2.4M | 2M |
| EPS (Diluted) | 3.62 | 2.94 | 2.98 | 2.77 | 2.85 | 2.63 | 1.95 | 2.36 | 2.22 | 1.69 | 1.50 | 1.56 | 1.51 | 0.97 | 0.78 | 0.62 | 0.07 | 0.27 | 1.03 | 1.50 | 0.96 | 0.90 | 0.39 | 0.32 | 0.55 | 0.71 | 0.84 | 0.64 | 0.44 | 0.16 | 0.12 |
| EPS Growth % | -3.28% | -1.34% | 7.58% | -2.81% | 8.37% | 34.87% | -17.37% | 6.31% | 31.36% | 12.67% | -3.85% | 3.31% | 55.67% | 24.36% | 25.81% | 752.82% | -73.07% | -73.79% | -31.33% | 56.25% | 6.67% | 130.77% | 21.88% | -41.82% | -22.54% | -15.48% | 31.25% | 45.45% | 175% | 33.33% | 27.66% |
| EPS (Basic) | - | 2.92 | 3.08 | 2.87 | 2.94 | 2.71 | 1.95 | 2.37 | 2.23 | 1.71 | 1.53 | 1.57 | 1.52 | 0.98 | 0.78 | 0.62 | 0.07 | 0.27 | 1.04 | 1.53 | 0.98 | 0.92 | 0.39 | 0.32 | 0.55 | 0.71 | 0.84 | 0.64 | 0.44 | 0.16 | 0.12 |
| Diluted Shares Outstanding | 5.5M | 6.75M | 5.49M | 5.61M | 5.66M | 5.75M | 5.82M | 5.96M | 6.01M | 6.06M | 6.12M | 6.17M | 6.22M | 6.2M | 6.12M | 6.1M | 6.1M | 6.1M | 6.21M | 6.39M | 6.42M | 7.01M | 6.37M | 6.35M | 6.29M | 6.46M | 6.43M | 7.07M | 6.43M | 5.6M | 5.6M |
Deposit cost sensitivity
According to quarterly financial disclosures, PEBK has demonstrated a consistent upward trajectory in net interest income, which grew from $13.3 million in 2023Q4 to $15.1 million by 2026Q1, reflecting successful asset repricing strategies despite a challenging environment for regional deposit retention and funding cost management.
The steady climb in NII suggests that the bank is effectively leveraging its loan book repricing to outpace the rising cost of funds. Investors should monitor whether this growth remains sustainable as the bank expands its footprint into more competitive urban markets like Charlotte and Raleigh.
As reported in recent financial statements, PEBK has maintained a relatively stable net interest margin of approximately 0.9% over the last ten quarters, indicating that the bank's specialized lending niches may be providing a necessary buffer against broader industry-wide margin compression in the current rate cycle.
While the margin appears stable, the lack of significant expansion suggests that rising deposit betas are likely offsetting the yield benefits from the bank's commercial and ITIN mortgage portfolios. This warrants further investigation into whether the bank can maintain these levels if competitive pressure for deposits intensifies further.
Based on the provided income statement data, PEBK's efficiency ratio has fluctuated between 49.4% and 56.2% over the past ten quarters, suggesting that the bank's branch-heavy model and specialized subsidiary operations create a persistent fixed-cost burden that limits the potential for significant operating leverage improvements.
The volatility in the efficiency ratio appears tied to the lumpy nature of non-interest income, particularly from the appraisal clearing-house. Analysts should consider whether the current cost structure is optimized for the bank's scale or if further investment in digital channels is required to improve long-term profitability.
As indicated by the bank's quarterly filings, non-interest income experienced a notable spike to $9.6 million in 2025Q4 before reverting, highlighting a dependency on transactional fee streams that may be sensitive to regional real estate transaction velocity and broader mortgage market conditions in North Carolina.
The reliance on appraisal clearing-house fees introduces a layer of earnings volatility that is distinct from the core interest-based business. Investors should monitor the sustainability of these fee streams, as they may not provide the same level of recurring revenue as traditional wealth management or service-based banking fees.
Based on reported figures, PEBK's provision for credit losses has remained relatively low, with occasional negative provisions, which may indicate a conservative credit culture and strong historical performance within the bank's specialized ITIN mortgage portfolio despite the broader economic uncertainty facing regional real estate markets.
The ability to maintain low provision expenses suggests that the bank's underwriting standards for its niche portfolios remain robust. However, any material shift in the credit quality of these specialized loans could lead to a rapid increase in provision expenses, which would directly impact the bottom line.
Quick answers to the most common questions about buying PEBK stock.
Peoples Bancorp of North Carolina, Inc. (PEBK) is profitable, generating $19.8M in net income for the fiscal year ending 2025 with a net profit margin of 17.3%.
Peoples Bancorp of North Carolina, Inc. (PEBK) reported an operating income of $25.9M, resulting in an operating profit margin of 22.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Peoples Bancorp of North Carolina, Inc. (PEBK) generated $89.1M in gross profit for the year, representing a gross profit margin of 77.7%. This demonstrates the company's core pricing power and production efficiency.