Peoples Bancorp Announces Board & Executive Changes
Ticker: PEBK · Form: 8-K · Filed: Dec 23, 2024 · CIK: 1093672
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
TL;DR
Board shakeup and pay changes at Peoples Bancorp.
AI Summary
Peoples Bancorp of North Carolina, Inc. announced on December 19, 2024, changes in its board of directors and executive compensation arrangements. The filing details the departure of certain directors and the election of new ones, alongside updates to compensatory arrangements for key officers.
Why It Matters
Changes in a company's board and executive compensation can signal shifts in strategy, governance, or financial outlook, impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can indicate underlying issues or strategic shifts that may affect the company's future performance and stability.
Key Players & Entities
- Peoples Bancorp of North Carolina, Inc. (company) — Registrant
- December 19, 2024 (date) — Date of earliest event reported
- North Carolina (location) — State of incorporation
- 518 West C Street, Newton, North Carolina 28658 (address) — Principal Executive Offices
- 828-464-5620 (phone_number) — Registrant's Telephone Number
FAQ
What specific reasons were given for the departure of directors?
The filing indicates the departure of directors and election of new ones, but does not specify the reasons for the departures in the provided text.
When did the reported changes take effect?
The earliest event reported is dated December 19, 2024.
What is the principal business of Peoples Bancorp of North Carolina, Inc.?
Peoples Bancorp of North Carolina, Inc. is classified under 'STATE COMMERCIAL BANKS' with SIC code 6022.
Where is Peoples Bancorp of North Carolina, Inc. headquartered?
The company's principal executive offices are located at 518 West C Street, Newton, North Carolina 28658.
What type of SEC filing is this?
This is a Form 8-K, a current report filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 558 words · 2 min read · ~2 pages · Grade level 12.6 · Accepted 2024-12-23 15:00:14
Filing Documents
- pebk_8k.htm (8-K) — 25KB
- 0001654954-24-015858.txt ( ) — 133KB
- pebk-20241219.xsd (EX-101.SCH) — 6KB
- pebk-20241219_lab.xml (EX-101.LAB) — 12KB
- pebk-20241219_cal.xml (EX-101.CAL) — 1KB
- pebk-20241219_pre.xml (EX-101.PRE) — 8KB
- pebk-20241219_def.xml (EX-101.DEF) — 2KB
- pebk_8k_htm.xml (XML) — 3KB
Signatures
Signatures 4 2 Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers (d) On December 19, 2024, the Boards of Directors of Peoples Bancorp of North Carolina, Inc. (the "Company") and its wholly-owned subsidiary, Peoples Bank (the "Bank") elected Robert C. Abernethy, Jr., Ashton V. Abernethy and Dan R. Timmerman, Jr. to the Boards of Directors of the Company and the Bank. These new directors have not been appointed to any committees of the Company or Bank Board of Directors at this time. Disclosure about forward-looking statements 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 Securi
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: December 23, 2024 By: /s/ Jeffrey N. Hooper Jeffrey N. Hooper Executive Vice President and Chief Financial Officer 4