|  000-27205                                       |   |  56-2132396                       |
|-------------------------------------------------------|--------|----------------------------------------|
|  (Commission FileNo.)                            |   |  (IRS EmployerIdentification No.) |
|                                             |   |                              |
|   518 West C Street, Newton, North Carolina |   | 28658                        |
|  (Address ofPrincipal Executive Offices)    |   | (ZipCode)                    |

| Large accelerated filer☐ | Accelerated filer☒        |
|---------------------------------|----------------------------------|
| Non-accelerated filer☐   | Smaller reportingcompany☒ |
|                            | Emerging growth company☐  |

|                | Peoples Bancorp ofNorth Carolina, Inc. |                                                             |
|---------------------|----------------------------------------|------------------------------------------------------------------|
|                |                                   |                                                             |   |
| Date: March 16,2020 | By:                          | /s/ Lance A.Sellers                                         |   |
|                |                                   | Lance A.Sellers                                                  |   |
|                |                                   | President and ChiefExecutive Officer(PrincipalExecutive Officer) |   |

| Date: March 16,2020 | By:   | /s/ A.Joseph Lampron, Jr.                                                                           |   |
|---------------------|-----------------|----------------------------------------------------------------------------------------------------------|--------|
|                |            | A.Joseph Lampron, Jr.                                                                                    |   |
|                |            | Executive VicePresident and Chief Financial Officer(PrincipalFinancial and Principal Accounting Officer) |   |

| Exhibit(3)(i)     |   | Articlesof Amendment dated December 19, 2008, regarding the Series APreferred Stock, incorporated by reference to Exhibit (3)(1) to theForm 8-K filed with the Securities and Exchange Commission onDecember 29, 2008                                                     |
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| Exhibit(3)(ii)    |   | Articlesof Amendment dated February 26, 2010 incorporated by reference toExhibit (3)(2) to the Form 10-K filed with the Securities andExchange Commission on March 25, 2010                                                                                                    |
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| Exhibit(3)(iii)   |   | Articlesof Incorporation of the Registrant, incorporated by reference toExhibit (3)(i) to the Form 8-A filed with the Securities andExchange Commission on September 2, 1999                                                                                                   |
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| Exhibit(3)(iv)    |   | SecondAmended and Restated Bylaws of the Registrant, incorporated byreference to Exhibit (3)(ii) to the Form 8-K filed with theSecurities and Exchange Commission on June 24, 2015                                                                                             |
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| Exhibit(4)(i)     |   | SpecimenStock Certificate, incorporated by reference to Exhibit (4) to theForm 8-A filed with the Securities and Exchange Commission onSeptember 2, 1999                                                                                                                       |
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| Exhibit(4)(ii)    |   | Descriptionof Registrant’s Securities registered pursuant to Section 12of the Securities Act of 1934                                                                                                                                                                    |
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| Exhibit(10)(i)    |   | Amendedand Restated Executive Salary Continuation Agreement betweenPeoples Bank and Tony W. Wolfe dated December 18, 2008,incorporated by reference to Exhibit (10)(a)(iii) to the Form 8-Kfiled with the Securities and Exchange Commission on December 29,2008          |
|              |   |                                                                                                                                                                                                                                                                           |
| Exhibit(10)(ii)   |   | Amendedand Restated Executive Salary Continuation Agreement betweenPeoples Bank and Joseph F. Beaman, Jr. dated December 18,2008, incorporated by reference to Exhibit (10)(b)(iii) to the Form8-K filed with the Securities and Exchange Commission on December29, 2008  |
|              |   |                                                                                                                                                                                                                                                                           |
| Exhibit(10)(iii)  |   | Amendedand Restated Executive Salary Continuation Agreement betweenPeoples Bank and William D. Cable, Sr. dated December 18,2008, incorporated by reference to Exhibit (10)(c)(iii) to the Form8-K filed with the Securities and Exchange Commission on December29, 2008  |
|              |   |                                                                                                                                                                                                                                                                           |
| Exhibit(10)(iv)   |   | EmploymentAgreement dated January 22, 2015 between the Registrant and WilliamD. Cable, Sr., incorporated by reference to Exhibit (10)(c) to theForm 8-K filed with the Securities and Exchange Commission onFebruary 9, 2015                                                   |
|              |   |                                                                                                                                                                                                                                                                           |
| Exhibit(10)(v)    |   | Amendedand Restated Executive Salary Continuation Agreement betweenPeoples Bank and Lance A. Sellers dated December 18, 2008,incorporated by reference to Exhibit (10)(d)(iii) to the Form 8-Kfiled with the Securities and Exchange Commission on December 29,2008       |
|              |   |                                                                                                                                                                                                                                                                           |
| Exhibit(10)(vi)   |   | EmploymentAgreement dated January 22, 2015 between the Registrant and LanceA. Sellers, incorporated by reference to Exhibit (10)(a) to theForm 8-K filed with the Securities and Exchange Commission onFebruary 9, 2015                                                        |
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| Exhibit(10)(vii)  |   | PeoplesBancorp of North Carolina, Inc. Omnibus Stock Ownership and LongTerm Incentive Plan incorporated by reference to Exhibit (10)(f) tothe Form 10-K filed with the Securities and Exchange Commission onMarch 30, 2000                                                     |
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| Exhibit(10)(viii) |   | AmendmentNo. 1 to the Peoples Bancorp of North Carolina, Inc. Omnibus StockOwnership and Long Term Incentive Plan incorporated by reference toExhibit (10)(e)(i) to the Form 10-K filed with the Securities andExchange Commission on March 15, 2007                           |
|              |   |                                                                                                                                                                                                                                                                           |
| Exhibit(10)(ix)   |   | Amendedand Restated Executive Salary Continuation Agreement betweenPeoples Bank and A. Joseph Lampron, Jr. dated December 18,2008, incorporated by reference to Exhibit (10)(f)(iii) to the Form8-K filed with the Securities and Exchange Commission on December29, 2008 |
|              |   |                                                                                                                                                                                                                                                                           |
| Exhibit(10)(x)    |   | EmploymentAgreement dated January 22, 2015 between the Registrant and A.Joseph Lampron, Jr., incorporated by reference to Exhibit (10)(b)to the Form 8-K filed with the Securities and Exchange Commissionon February 9, 2015                                                  |
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| Exhibit(10)(xi)   |   | PeoplesBank Directors’ and Officers’ Deferral Plan,incorporated by reference to Exhibit (10)(h) to the Form 10-K filedwith the Securities and Exchange Commission on March 28,2002                                                                               |
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| Exhibit(10)(xii)  |   | RabbiTrust for the Peoples Bank Directors’ and Officers’Deferral Plan, incorporated by reference to Exhibit (10)(i) to theForm 10-K filed with the Securities and Exchange Commission onMarch 28, 2002                                                           |
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| Exhibit(10)(xiii) |   | Descriptionof Service Recognition Program maintained by Peoples Bank,incorporated by reference to Exhibit (10)(i) to the Form 10-K filedwith the Securities and Exchange Commission on March 27,2003                                                                           |

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|--------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Exhibit(10)(xiv)   |   | CapitalSecurities Purchase Agreement dated as of June 26, 2006, by andamong the Registrant, PEBK Capital Trust II and Bear, SternsSecurities Corp., incorporated by reference to Exhibit (10)(j) tothe Form 10-Q filed with the Securities and Exchange Commission onNovember 13, 2006                                                                                                                                                                                                                                                                                                                        |
|               |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| Exhibit(10)(xv)    |   | Amendedand Restated Trust Agreement of PEBK Capital Trust II, dated as ofJune 28, 2006, incorporated by reference to Exhibit (10)(k) to theForm 10-Q filed with the Securities and Exchange Commission onNovember 13, 2006                                                                                                                                                                                                                                                                                                                                                                                    |
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| Exhibit(10)(xvi)   |   | GuaranteeAgreement of the Registrant dated as of June 28, 2006, incorporatedby reference to Exhibit (10)(l) to the Form 10-Q filed with theSecurities and Exchange Commission on November 13,2006                                                                                                                                                                                                                                                                                                                                                                                                             |
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| Exhibit(10)(xvii)  |   | Indenture,dated as of June 28, 2006, by and between the Registrant andLaSalle Bank National Association, as Trustee, relating to JuniorSubordinated Debt Securities Due September 15, 2036, incorporatedby reference to Exhibit (10)(m) to the Form 10-Q filed with theSecurities and Exchange Commission on November 13,2006                                                                                                                                                                                                                                                                                 |
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| Exhibit(10)(xviii) |   | Form ofAmended and Restated Director Supplemental Retirement Agreementbetween Peoples Bank and Directors Robert C. Abernethy, James S.Abernethy, Douglas S. Howard, John W. Lineberger, Jr., Gary E.Matthews, Dr. Billy L Price, Jr., Larry E Robinson, W. GregoryTerry, Dan Ray Timmerman, Sr., and Benjamin I. Zachary,incorporated by reference to Exhibit (10)(n) to the Form 8-K filedwith the Securities and Exchange Commission on December 29,2008                                                                                                                                               |
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| Exhibit(10)(xix)   |   | 2009Omnibus Stock Ownership and Long Term Incentive Plan incorporatedby reference to Exhibit (10)(o) to the Form 10-K filed with theSecurities and Exchange Commission on March 20, 2009                                                                                                                                                                                                                                                                                                                                                                                                                      |
|               |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| Exhibit(10)(xx)    |   | FirstAmendment to Amended and Restated Executive Salary ContinuationAgreement between Peoples Bank and Lance A. Sellers dated February16, 2018                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|               |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| Exhibit(10)(xxi)   |   | FirstAmendment to Amended and Restated Executive Salary ContinuationAgreement between Peoples Bank and A. Joseph Lampron, Jr. datedFebruary 16, 2018                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|               |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| Exhibit(10)(xxii)  |   | FirstAmendment to Amended and Restated Executive Salary ContinuationAgreement between Peoples Bank and William D. Cable, Sr. datedFebruary 16, 2018                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
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| Exhibit(13)        |   | 2019Annual Report of Peoples Bancorp of North Carolina,Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
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| Exhibit(14)        |   | Code ofBusiness Conduct and Ethics of Peoples Bancorp of North Carolina,Inc., incorporated by reference to Exhibit (14) to the Form 10-Kfiled with the Securities and Exchange Commission on March 25,2005                                                                                                                                                                                                                                                                                                                                                                                                    |
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| Exhibit(21)        |   | Subsidiariesof the Registrant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
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| Exhibit(23)        |   | Consentof Elliott Davis, PLLC                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
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| Exhibit(31)(i)     |   | Certificationof principal executive officer pursuant to section 302 of theSarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
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| Exhibit(31)(ii)    |   | Certificationof principal financial officer pursuant to section 302 of theSarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
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| Exhibit(32)        |   | CertificationPursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section906 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
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| Exhibit(101)       |   | Thefollowing materials from the Company’s 10-K Report forthe annual period ended December 31, 2019, formatted in eXtensibleBusiness Reporting Language (“XBRL”): (i) theCondensed Consolidated Balance Sheets, (ii) the CondensedConsolidated Statements of Earnings, (iii) the CondensedConsolidated Statements of Comprehensive Income (iv) theCondensed Consolidated Statements of Changes in Shareholders’Equity, (v) the Condensed Consolidated Statements of CashFlows, and (vi) the Notes to the Condensed ConsolidatedFinancial Statements. |