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PEBK > SEC Filings for PEBK > Form 8-K on 23-Oct-2012All Recent SEC Filings




Change in Directors or Principal Officers

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On October 18, 2012, the Board of Directors of Peoples Bancorp of North Carolina, Inc. (the "Company") appointed Lance A. Sellers to the role of President and CEO of the Company and Peoples Bank ("the Bank") effective November 1, 2012.

Mr. Sellers, age 50, currently serves as Executive Vice President and Assistant Corporate Secretary of the Company and Executive Vice President and Chief Credit Officer of the Bank. He has been employed by the Company and the Bank since 1998.

Peoples Bank has an existing Employment Agreement with Mr. Sellers. The terms of such Employment Agreement are disclosed in the Company's 2012 proxy statement as filed with the Securities and Exchange Commission on April 2, 2012.

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.

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