8-K for April 20, 2007
 
 
UNITED STATES
  
 
SECURITIES AND EXCHANGE COMMISSION
  
 
Washington, D.C. 20549
  
 
______________________________
  
 
FORM 8-K
 
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
 
 
 
Date of Report (Date of earliest event reported): April 20, 2007
 
 
 
Peoples Bancorp of North Carolina, Inc.
(Exact Name of Registrant as Specified in Its Charter)
 
 
North Carolina
(State or Other Jurisdiction of Incorporation)
 
 
 
000-27205
56-2132396
(Commission File No.)
(IRS Employer Identification No.)
 
 
 
518 West C Street, Newton, North Carolina
28658
(Address of Principal Executive Offices)
(Zip Code)
 
 
 
(828) 464-5620
(Registrant’s Telephone Number, Including Area Code)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
   
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 

 Peoples Bancorp of North Carolina, Inc.
INDEX
       
       
   
Page
  
Item 8.01 - Other Matters
  
3
  
       
Item 9.01 - Financial Statements and Exhibits
  
3
  
       
Signatures
  
4
  
       
Exhibit (99)(a) Press release dated April 20, 2007
  
5
  
       
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2
 

Item 8.01.
Other Matters
 
On April 20, 2007, the Board of Directors of Peoples Bancorp of North Carolina, Inc. authorized a 3-for-2 stock split to be paid in conjunction with the Company’s regular cash dividend for the second quarter of 2007.  As a result of the stock split, each shareholder will receive three new shares of stock for every two shares of stock they hold as of the record date.  Shareholders will receive a cash payment in lieu of any fractional shares resulting from the stock split.  The cash dividend will be paid based on the number of shares held by shareholders as adjusted by the stock split

All previously reported per share amounts will be restated to reflect this stock split. Restated earnings per share for the three months ended March 31, 2007 will be $0.48 basic and diluted net earnings per share, as compared to $0.39 basic net earnings per share and $0.38 diluted net earnings per share, for the three months ended March 31, 2006.
 
   The Company had 3,834,659 shares of common stock outstanding at March 31, 2007. The Company's stock transfer agent is Registrar and Transfer Company.

A copy of the press release announcing the stock split is attached hereto as Exhibit (99)(a) and is incorporated by reference herein.
 
Item 9.01.
Financial Statements and Exhibits
 
 
(d)
Exhibits
     
 
(99)(a)
Press release, dated April 20, 2007
 

Disclosure about forward-looking statements

This Form 8-K contains forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, changes in interest rate environment, management’s business strategy, national, regional, and local market conditions and legislative and regulatory conditions.

Readers should not place undue reliance on forward-looking statements, which reflect management’s view only as of the date hereof. 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 Securities and Exchange Commission.
 
 
 
 
 
 
 
 
 
 
 
 

 

3


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: April 25, 2007
  
By:
/s/ A. Joseph Lampron
   
A. Joseph Lampron
   
Executive Vice President and Chief Financial Officer
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4