Peoples Bancorp Announces Special Cash Dividend

The Board of Directors of Peoples Bancorp of North Carolina, Inc. (Nasdaq: PEBK) is pleased to announce the declaration of a special cash dividend in the amount of $0.16 per share. The special cash dividend will be paid on February 14, 2025 to shareholders of record on February 3, 2025.

Shareholders are encouraged to enroll in the Company’s Dividend Reinvestment and Stock Purchase Plan. For details, contact Krissy Price at [phone] or [phone] or you may email any questions to our transfer agent, Broadridge Corporate Issuer Solutions, Inc. at [e-mail].

Peoples Bank operates 16 banking offices in North Carolina, with offices in Catawba, Alexander, Lincoln, Mecklenburg, Iredell, and Wake Counties. The Bank also operates loan production offices in Lincoln, Mecklenburg, Rowan, and Forsyth Counties. The Company’s common stock is publicly traded and is listed on the Nasdaq Global Market under the symbol “PEBK.”

Statements made in this press release, other than those concerning historical information, should be considered forward-looking statements pursuant to the safe harbor provisions of the Securities Exchange Act of 1934 and the Private Securities Litigation Act of 1995. These forward-looking statements are based on information currently available to management and are subject to various risks and uncertainties, including but not limited to those described in Peoples Bancorp of North Carolina, Inc.’s annual report on Form 10-K for the year ended December 31, 2023, under “General Description of Business” and otherwise in the Company’s reports and filings.

Contact:

William D. Cable, Sr.President and Chief Executive OfficerJeffrey N. HooperExecutive Vice President and Chief Financial Officer828-464-5620