Peoples Bancorp of North Carolina, Inc. Announces Retirement of Joseph Lampron, Jr., Executive Vice President and CFO; Reports Charge-Offs for the Third Quarter Ended September 30, 2019
October 21, 2019 at 09:28 am EDT
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On October 18, 2019, A. Joseph Lampron, Jr., Executive Vice President and CFO of Peoples Bancorp of North Carolina, Inc. announced his intention to retire in June 2020.
For the third quarter ended September 30, 2019, the company reported charge-offs of $551 million against $259 million a year ago.
Peoples Bancorp of North Carolina, Inc. serves as the holding company for Peoples Bank (the Bank). The Bank is a state-chartered commercial bank. The Bank has a diversified loan portfolio, with no foreign loans and few agricultural loans. The Bankâs loan portfolio also includes Individual Taxpayer Identification Number (ITIN) mortgage loans generated through its former Banco offices. It has four subsidiaries, such as Peoples Investment Services, Inc., Real Estate Advisory Services, Inc., Community Bank Real Estate Solutions, LLC (CBRES) and PB Real Estate Holdings, LLC. Peoples Investment Services, Inc. provides the Bankâs customers access to investment counseling and non-deposit investment products. Real Estate Advisory Services, Inc. provides real estate appraisal and real estate brokerage services. CBRES serves as a clearinghouse for appraisal services for community banks. PB Real Estate Holdings, LLC acquires, manages, and disposes of real property, other collateral, and assets.
Peoples Bancorp of North Carolina, Inc. Announces Retirement of Joseph Lampron, Jr., Executive Vice President and CFO; Reports Charge-Offs for the Third Quarter Ended September 30, 2019
PEOPLES BANCORP OF NORTH CAROLINA, INC. 
