Peoples Bancorp Reports Change in Certifying Accountant
Ticker: PEBK · Form: 8-K · Filed: Feb 27, 2024 · CIK: 1093672
Sentiment: neutral
Topics: auditor-change, 8-K filing, corporate governance
Related Tickers: PEBK
TL;DR
**Peoples Bancorp (PEBK) just announced a change in its independent auditor, effective February 22, 2024.**
AI Summary
Peoples Bancorp of North Carolina, Inc. filed an 8-K on February 27, 2024, to report a change in its certifying accountant. The earliest event reported regarding this change occurred on February 22, 2024. This filing indicates that the company has appointed a new independent auditor, though specific names of the old or new accountants are not provided in this excerpt.
Why It Matters
A change in a company's independent auditor is a significant event that investors monitor closely, as it can impact the perceived reliability of financial statements and corporate governance practices.
Risk Assessment
Risk Level: medium — While not inherently negative, a change in certifying accountant warrants attention as it can sometimes signal underlying issues or disagreements, though this filing does not provide specific reasons.
Key Players & Entities
- Peoples Bancorp of North Carolina, Inc. (company) — Registrant
- SEC (company) — Regulator
FAQ
What is the primary event reported in this 8-K filing?
The primary event reported in this 8-K filing is "Changes in Registrant's Certifying Accountant" for Peoples Bancorp of North Carolina, Inc.
What is the date of the earliest event reported in this filing?
The date of the earliest event reported is February 22, 2024.
What is the full legal name of the company filing this 8-K?
The exact name of the registrant as specified in its charter is Peoples Bancorp of North Carolina, Inc.
What is the state of incorporation for Peoples Bancorp of North Carolina, Inc.?
Peoples Bancorp of North Carolina, Inc. is incorporated in North Carolina.
What is the Commission File Number for the registrant?
The registrant's Commission File No. is 000-27205.
Filing Stats: 792 words · 3 min read · ~3 pages · Grade level 14 · Accepted 2024-02-27 09:04:04
Filing Documents
- pebk_8k.htm (8-K) — 28KB
- pebk_ex161.htm (EX-16.1) — 2KB
- 0001654954-24-002223.txt ( ) — 139KB
- pebk-20240222.xsd (EX-101.SCH) — 6KB
- pebk-20240222_lab.xml (EX-101.LAB) — 12KB
- pebk-20240222_cal.xml (EX-101.CAL) — 1KB
- pebk-20240222_pre.xml (EX-101.PRE) — 8KB
- pebk-20240222_def.xml (EX-101.DEF) — 2KB
- pebk_8k_htm.xml (XML) — 3KB
01 – Changes in Registrant's Certifying Accountant
Item 4.01 – Changes in Registrant's Certifying Accountant 3
01 – Financial Statements and Exhibits
Item 9.01 – Financial Statements and Exhibits 3
Signatures
Signatures 4 Exhibit 16.1 – Letter regarding change in certifying accountant 5 2
01. Changes in Registrant's Certifying Accountant
Item 4.01. Changes in Registrant's Certifying Accountant The Audit Committee (the "Committee") of the Board of Directors of Peoples Bancorp of North Carolina, Inc. (the "Company") recently completed a competitive review of independent registered public accounting firms to serve as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024. As a result of this review and after careful deliberation, on February 22, 2024, the Committee approved the engagement of FORVIS, LLP ("FORVIS") as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024. On February 23, 2024, the Company informed FORVIS of the Committee's decision, effective following the completion of the Company's 2023 audit. On February 23, 2024, the Company informed Elliott Davis, PLLC ("Elliott Davis"), the Company's independent registered public accounting firm since June 2015, that it will be dismissed as the Company's independent registered public accounting firm effective upon the completion of the Company's 2023 audit. Elliott Davis' reports on the financial statements of the Company as of and for the fiscal years ended December 31, 2022 and 2021 did not contain any adverse opinion or disclaimer of opinion, nor were the reports qualified or modified as to uncertainty, audit scope or accounting principles. During the Company's fiscal years ended December 31, 2022 and 2021, and from January 1, 2023 through the date of this Current Report on Form 8-K, (1) there were no disagreements (as defined in Item 304(a)(1)(iv) of Regulation S-K) between the Company and Elliott Davis on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures, which disagreements, if not resolved to the satisfaction of Elliott Davis, would have caused Elliott Davis to make reference thereto in its report on the Company's financial statements for such periods, and (2) there were no "
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits 16.1 Letter, dated February 27, 2024, from Elliott Davis, PLLC to the Securities and Exchange Commission 3
SIGNATURES
SIGNATURES 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. PEOPLES BANCORP OF NORTH CAROLINA, INC. Date: February 27, 2024 By: /s/ Jeffrey N. Hooper Jeffrey N. Hooper Executive Vice President and Chief Financial Officer 4