Peoples Bancorp of North Carolina, Inc. PEBK announced that on June 27, 2012 the U.S. Department of the Treasury announced that it priced its secondary public offering of 25,054 shares of Peoples Bancorp Preferred Stock issued to the Treasury in 2008 at $933.36 per share. Peoples Bancorp has been notified that it successfully bid to repurchase over $12.5 million of the Preferred Stock. Peoples Bancorp, the holding company for Peoples Bank in Newton, NC, was the first bank in NC to have its Preferred Stock auctioned by Treasury. Tony Wolfe, President and CEO of Peoples Bank stated that, "I consider being chosen by the Treasury to be included in the auction to be a positive indication and appreciation for the way that Peoples Bank has managed through the last few difficult years."
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