Peoples Bancorp of North Carolina Inc. expected to Report Fiscal Year 2009 Results on January 25, 2010. This event was calculated by Capital IQ (Created on October 29, 2009).

Peoples Bancorp of North Carolina Inc. reported net earnings of $300,000, or $0.05 basic and diluted net earnings per share, before adjustment for preferred stock dividends and accretion, for the three months ended September 30, 2009 as compared to $1.7 million, or $0.31 basic and diluted net earnings per share, for the same period one year ago. After adjusting for $348,000 in dividends and accretion on preferred stock, net loss available to common shareholders for the three months ended September 30, 2009 was $48,000, or $0.01 basic and diluted net loss per common share. Net interest income was $8.3 million for the three-month period ended September 30, 2009 compared to $8.5 million for the same period one year ago. This decease in interest income is primarily due to a 175 basis point reduction in the Bank's prime commercial lending rate from September 30, 2008 to September 30, 2009, which was partially offset by a decrease in the cost of funds and an increase in interest earning assets. Return on average assets was 0.12% and return on average shareholders' equity 1.20% against 0.74% and 9.40% respectively for the same period a year ago. The company attributed the decrease in third quarter earnings to an increase in provision for loan losses and a decrease in net interest income. Year-to-date net earnings as of September 30, 2009 was $2.3 million, or $0.41 basic and diluted net earnings per share, before adjustment for preferred stock dividends and accretion, as compared to $6.0 million, or $1.07 basic net earnings per share and $1.06 diluted net earnings per share, for the same period one year ago. After adjusting for $898,000 in dividends and accretion on preferred stock, net earnings available to common shareholders for the nine months ended September 30, 2009 was $1.4 million, or $0.25 basic and diluted net earnings per common share. Year-to-date net interest income as of September 30, 2009 decreased 2% to $24.3 million compared to $24.7 million for the same period one year ago. This decrease is primarily attributable to a reduction in the Bank's prime commercial lending rate. Return on average assets was 0.30% and return on average shareholders' equity 3.03% against 0.87% and 10.56% respectively for the same period a year ago.

The board of directors of Peoples Bancorp of North Carolina Inc. declared a cash dividend for the third quarter of 2009 in the amount of 7 cents per share. The cash dividend will be paid on September 15, 2009 to shareholders of record September 3, 2009.