<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13 D
Under the Securities Exchange Act of 1934
PEOPLES BANCORP OF NORTH CAROLINA, INC.
---------------------------------------
(Name of Issuer)
Common Stock, no par value
----------------------------------------
(Title of Class of Securities)
710577 10 7
------------------------------------
(CUSIP Number)
Christine S. Abernethy
806 South College Avenue
Newton, NC 28658
(828) 464-4350
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
August 31, 1999
-----------------------------------------
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box. []
NOTE: Schedules filed in the paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 13d-7(b) for
other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(Cover Page Continued)
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- ------------------------
CUSIP No. 710577 10 7 13D
- ------------------------
<TABLE>
<C> <S> <C> <C>
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Christine S. Abernethy
###-##-####
- --------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [_]
(b) [X]
- --------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
SC
- --------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- --------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
North Carolina
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7 SOLE VOTING POWER
NUMBER OF 248,635 Shares
SHARES ---------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 51,253 Shares
REPORTING ---------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
248,635 Shares
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
51,253 Shares
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
299,888 Shares
- --------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
- --------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
10.25%
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14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------------------------------
</TABLE>
(End of Cover Page)
<PAGE>
Item 1. Security and Issuer:
- ------ -------------------
Common Stock
Peoples Bancorp of North Carolina, Inc.
218 South Main Avenue
Newton, North Carolina 28658
Item 2. (a) Name: Christine S. Abernethy
- ------
(b) Residence or business address: 806 South College Avenue
Newton, NC 28658
(c) Employment: Chairperson of Carolina Glove Co., Inc.
P.O. Box 999, Conover, NC 28613
Glove Manufacturer
(d) No
(e) No
(f) United States
Item 3. Source and Amount of Funds or Other Consideration.
- ------ -------------------------------------------------
Filer received the shares of stock via a share exchange pursuant to
the share exchange pursuant to the Share Exchange Agreement (the
"Agreement") between Peoples Bank (the "Bank") and Peoples Bancorp of
North Carolina, Inc. (the "Company"). Under the terms of the
Agreement, pursuant to which the Bank became a wholly owned subsidiary
of the Company, each shareholder of the Bank received one share of the
Company's Common Stock in exchange for one share of Bank stock.
Item 4. Purpose of Transaction.
- ------ ----------------------
See Item 3
Item 5. Interest in Securities of the Issuer.
- ------ ------------------------------------
(a) 299,888 shares (10.25% of outstanding)
(b) Sole voting power - 248,635 shares
Page 3 of 5 Pages
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Shared voting power - 51,253 shares
Sole dispositive power - 248,635 shares
Shared dispositive power - 51,253 shares
(c) None
(d) Filer shares voting power and the power to direct the receipt of
dividends of 51,253 shares with Carolina Glove Co., Inc., which
is the registered owner of those 51,253 shares disclosed herein.
(e) Not applicable
Item 6. Contracts, Assignments, Understandings or Relationships With Respect
- ------ --------------------------------------------------------------------
to Securities of the Issuer.
---------------------------
Not Applicable.
Item 7. Material Filed as Exhibits.
- ------ --------------------------
Not Applicable.
Page 4 of 5 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: September 16, 1999
/s/ Christine Sigmon Abernethy
--------------------------------------------------
Christine Sigmon Abernethy
Page 5 of 5 Pages
