Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
The Company’s common stock is listed on the NASDAQ Global Market, under the symbol “PEBK.” Market makers for the Company’s shares include Raymond James Financial, Inc. and Hovde Group, LLC.
The ability of the Company to pay dividends and repurchase shares is largely dependent upon the Company’s receipt of dividends from the Bank. The Bank’s ability to pay dividends is limited. North Carolina commercial banks, such as the Bank, are subject to legal limitations on the amount of dividends they are permitted to pay. Dividends may be paid by the Bank from undivided profits, which are determined by deducting and charging certain items against actual profits, including any contributions to surplus required by North Carolina law. Also, an insured depository institution, such as the Bank, is prohibited from making capital distributions, including the payment of dividends, if, after making such distribution, the institution would become “undercapitalized” (as such term is defined in the applicable law and regulations). For further discussion, see Supervision and Regulation under Item 1 Business.
As of March 7, 2022, the Company had 672 shareholders of record, not including the number of persons or entities whose stock is held in nominee or street name through various brokerage firms or banks. The closing market price for the Company’s common stock was $28.10 on March 7, 2022.
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STOCK PERFORMANCE GRAPH
The following graph compares the Company’s cumulative shareholder return on its common stock with a NASDAQ index and with a southeastern bank index. The graph was prepared by S&P Global Market Intelligence, using data as of December 31, 2021.
COMPARISON OF FIVE-YEAR CUMULATIVE TOTAL RETURNS
Performance Report for
Peoples Bancorp of North Carolina, Inc.
Peoples Bancorp of North Carolina, Inc.
Period Ending
Index
12/31/16
12/31/17
12/31/18
12/31/19
12/31/20
12/31/21
Peoples Bancorp of North Carolina, Inc.
100.00
136.82
110.98
152.57
110.67
136.02
NASDAQ Composite Index
100.00
129.64
125.96
172.18
249.51
304.85
S&P U.S. BMI Banks - Southeast Region Index
100.00
123.70
102.20
144.05
129.15
184.47
Source: S&P Global Market Intelligence
© 2022
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The information required by Item 201(d) concerning securities authorized for issuance under equity compensation plans is set forth in Item 12 hereof.
ISSUER PURCHASES OF EQUITY SECURITIES
Period
Total Number of Shares Purchased
Average Price Paid per Share
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2)
Maximum Number (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs (3)
January 1 - 31, 2021
1,494
$ 21.11
-
$ 4,000,000
February 1 - 28, 2021
566
20.30
-
$ 4,000,000
March 1 - 31, 2021
397
25.00
-
$ 4,000,000
April 1 - 30, 2021
1,426
23.35
-
$ 4,000,000
May 1 - 31, 2021
307
25.96
-
$ 4,000,000
June 1 - 30, 2021
444
25.38
-
$ 4,000,000
July 1 - 31, 2021
1,144
27.85
-
$ 4,000,000
August 1 - 31, 2021
201
27.87
127,597
$ 394,344
September 1 - 30, 2021
281
28.16
-
$ 394,344
October 1 - 31, 2021
1,142
28.73
-
$ 394,344
November 1 - 30, 2021
198
28.67
-
$ 394,344
December 1 - 31, 2021
242
28.32
-
$ 394,344
Total
7,842 (1
)
$ 25.02
127,597
(1)
The Company purchased 7,842 shares on the open market in the year ended December 31, 2021 for its deferred compensation plan. All purchases were funded by participant contributions to the plan.
(2)
Reflects shares purchased under the Company's stock repurchase program.
(3)
Reflects dollar value of shares that may yet be purchased under the Company's stock repurchase program, which was authorized in February 2021. On February 18, 2022, the Company announced that it had authorized a replacement stock purchase program whereby up to $2.0 million will be allocated to repurchase the Company's stock
ITEM 6. SELECTED FINANCIAL DATA
The information required by this Item is set forth in the section captioned “Selected Financial Data” on page A-3 of the Annual Report, which Annual Report is filed with this Form 10-K as Exhibit (13). The section captioned “Selected Financial Data” on page A-3 of the Annual Report is incorporated herein by reference.
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