Peoples Bancorp of North Carolina Inc. announced that Lance A. Sellers has been appointed by the Board of Directors to assume the role of President and CEO when Tony W. Wolfe, current President and CEO retires in the fourth quarter of 2012. Mr. Sellers came to the company in 1998 as the Senior Vice President of Credit Administration. He has since served in other executive credit positions with the company. In 1999 he became the company's Chief Banking Officer, responsible for the entire lending portfolio. He began his banking career in 1984 with BB&T holding various business lending positions including senior credit officer.