Peoples Bancorp of North Carolina Adopts Third Amended and Restated Bylaws

On January 16, 2025, Peoples Bancorp of North Carolina, Inc. made significant changes to its governance structure by adopting the Third Amended and Restated Bylaws. These updated bylaws, detailed in an 8-K SEC filing, entirely replace the previous Second Amended and Restated Bylaws.

The amendments to the bylaws were necessitated by the implementation of a majority voting standard in uncontested elections of directors. This standard was sanctioned by the company’s shareholders during the 2021 annual meeting and was also outlined in the proxy statement submitted to the SEC on March 24, 2021.

The bylaws modifications reflect the evolving landscape of corporate governance standards within the company. Peoples Bancorp of North Carolina, Inc. aims to enhance transparency and uphold the principles of fair and accountable leadership within its organizational framework.

While looking towards the future, the company recognizes the importance of providing a disclosure regarding forward-looking statements. It emphasized that any statements made in the 8-K filing, excluding historical information, should be regarded as forward-looking statements in accordance with the safe harbor provisions of the Securities Exchange Act of 1934 and the Private Securities Litigation Act of 1995.

Readers were advised not to overly rely on these forward-looking statements as various factors could lead to actual results differing from those expressed in these statements. Factors contributing to such divergences include fluctuations in the interest rate environment, alterations in management strategies, as well as national, regional, and local market conditions.

The company also made it clear that it accepts no obligation to publicly update any forward-looking statements following subsequent events or circumstances. Readers were further encouraged to diligently review the risk factors provided in additional documents filed periodically by the company with the Securities and Exchange Commission.

The adoption of the Third Amended and Restated Bylaws marks a pivotal moment for Peoples Bancorp of North Carolina, Inc., highlighting its commitment to aligning its governance practices with contemporary standards and ensuring stakeholder interests are at the forefront of its operations.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Peoples Bancorp of North Carolina’s 8K filing here.

Peoples Bancorp of North Carolina Company Profile

Peoples Bancorp of North Carolina, Inc operates as the bank holding company for Peoples Bank that provides various banking products and services for individuals and small-to medium-sized businesses. It offers checking, savings, money market, and retirement accounts; certificates of deposits; and credit and debit cards.