2023-03-06 09:36:27 ET
- Peoples Bancorp of North Carolina ( NASDAQ: PEBK ), the parent company of Peoples Bank has authorized a stock repurchase program , whereby up to $2M will be allocated to repurchase the Co.'s common stock.
- The timing and amount of any repurchase of shares will be determined by the Company's management.
- At Dec. 31, 2022, the Co. had assets of $1.6B and stockholder's equity of $105.2M.
- "The Board's decision to repurchase stock was based on the strength of the Co.'s balance sheet and capital position. We believe this is an appropriate way to utilize capital and enhance shareholder value," said Lance Sellers, President and CEO.
For further details see:
Peoples Bancorp board authorizes $2M stock repurchase plan