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Peoples Bancorp of North Carolina, Inc. (PEBK): Marketing Mix [Jan-2025 Updated] |
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Peoples Bancorp of North Carolina, Inc. (PEBK) Bundle
Discover the strategic marketing blueprint of Peoples Bancorp of North Carolina, Inc. (PEBK), a regional banking powerhouse that's redefining financial services in the Tar Heel State. From innovative digital platforms to personalized community banking solutions, this deep dive into PEBK's marketing mix reveals how a local bank competes and thrives in today's dynamic financial landscape, offering customers a comprehensive suite of banking products tailored to meet diverse financial needs across central and western North Carolina.
Peoples Bancorp of North Carolina, Inc. (PEBK) - Marketing Mix: Product
Community and Commercial Banking Services
As of Q4 2023, Peoples Bancorp of North Carolina reported total assets of $2.05 billion. The bank provides comprehensive banking services across North Carolina with 29 full-service branch locations.
| Service Category | Specific Offerings |
|---|---|
| Community Banking | Local market-focused financial solutions |
| Commercial Banking | Business lending, cash management services |
Personal and Business Checking/Savings Accounts
The bank offers multiple account types with the following characteristics:
- Personal checking accounts with average balance requirements
- Business checking accounts with no monthly maintenance fees
- High-yield savings accounts
- Interest-bearing checking options
Mortgage and Consumer Loan Products
As of 2023, Peoples Bancorp reported $1.4 billion in total loan portfolio.
| Loan Type | Approximate Volume |
|---|---|
| Residential Mortgages | $620 million |
| Commercial Real Estate Loans | $450 million |
| Consumer Loans | $330 million |
Online and Mobile Banking Platforms
Digital Banking Features:
- Mobile check deposit
- Real-time account monitoring
- Bill pay services
- Online fund transfers
- Mobile app with biometric login
Wealth Management and Investment Services
Peoples Bancorp provides comprehensive wealth management through its subsidiary, Cornerstone Financial Partners.
- Retirement planning services
- Investment portfolio management
- Personal financial advisory
- Trust and estate planning
Peoples Bancorp of North Carolina, Inc. (PEBK) - Marketing Mix: Place
Physical Branch Network
As of 2024, Peoples Bancorp of North Carolina operates 29 total banking locations across North Carolina, specifically concentrated in:
- Central North Carolina regions
- Western North Carolina regions
| Region | Number of Branches |
|---|---|
| Central NC | 18 branches |
| Western NC | 11 branches |
Digital Banking Channels
Digital banking platforms include:
- Online banking website
- Mobile banking application
- 24/7 digital account access
ATM Network
| ATM Type | Total Number |
|---|---|
| Bank-owned ATMs | 42 machines |
| Shared network ATMs | 175 additional locations |
Regional Banking Presence
Service territories include:
- Forsyth County
- Guilford County
- Mecklenburg County
- Cabarrus County
Peoples Bancorp of North Carolina, Inc. (PEBK) - Marketing Mix: Promotion
Local Community Sponsorship and Engagement
Peoples Bancorp of North Carolina sponsors local events and organizations in its primary market areas of North Carolina. In 2023, the bank allocated $127,500 for community sponsorship and engagement activities.
| Sponsorship Category | Annual Investment |
|---|---|
| Local Educational Institutions | $42,300 |
| Community Non-Profit Organizations | $35,700 |
| Regional Economic Development Initiatives | $49,500 |
Digital Marketing Through Social Media Platforms
The bank maintains active social media presence across multiple platforms.
- Facebook followers: 4,237
- LinkedIn connections: 2,915
- Twitter followers: 1,623
- Digital marketing annual budget: $156,000
Targeted Advertising in Regional Financial Publications
Peoples Bancorp invests in targeted print and digital financial publication advertising.
| Publication Type | Annual Advertising Spend |
|---|---|
| Regional Business Journals | $87,600 |
| State Financial Magazines | $43,200 |
| Online Financial Platforms | $65,400 |
Customer Referral Programs
The bank offers structured customer referral incentives.
- Referral bonus for new checking accounts: $100
- Referral bonus for business banking relationships: $250
- Total referral program budget: $214,000 annually
Educational Financial Webinars and Seminars
Peoples Bancorp conducts targeted financial education events.
| Event Type | Number of Events | Total Participants |
|---|---|---|
| Online Webinars | 24 | 1,872 |
| In-Person Seminars | 12 | 456 |
| Total Educational Events Budget | - | $95,700 |
Peoples Bancorp of North Carolina, Inc. (PEBK) - Marketing Mix: Price
Competitive Interest Rates for Deposits and Loans
As of Q4 2023, Peoples Bancorp of North Carolina offered the following interest rates:
| Account Type | Interest Rate |
|---|---|
| Personal Savings Account | 0.05% - 0.15% |
| Money Market Account | 0.25% - 0.50% |
| Personal Checking Account | 0.01% - 0.10% |
| Personal Loan Rates | 6.25% - 12.50% |
| Mortgage Rates | 6.75% - 7.50% |
Tiered Account Pricing Structures
Peoples Bancorp implements a tiered pricing model with the following characteristics:
- Minimum balance requirements for preferred rates
- Higher interest rates for larger account balances
- Graduated fee structures based on account activity
Fee-Based Pricing for Specialized Banking Services
Typical fee structure for specialized services:
| Service | Fee |
|---|---|
| Wire Transfer | $25 - $35 |
| Online Bill Pay | Free |
| Stop Payment | $35 |
| Overdraft Fee | $35 per occurrence |
| ATM Fee (non-network) | $3.00 |
Transparent and Market-Aligned Pricing Strategy
Key pricing transparency elements:
- Clear disclosure of all fees and rates
- Competitive pricing compared to regional banking competitors
- No hidden charges
Relationship-Based Pricing for Long-Term Customers
Relationship pricing benefits include:
- Reduced fees for multiple account holders
- Lower interest rates on loans
- Waived monthly maintenance charges
Total assets of Peoples Bancorp of North Carolina as of Q4 2023: $2.1 billion
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