Exhibit (21)

            SUBSIDIARIES OF PEOPLES BANCORP OF NORTH CAROLINA, INC.

     Peoples Bank, a commercial bank organized under the laws of North Carolina,
is  a  subsidiary  of  Peoples  Bancorp  of  North  Carolina,  Inc.

     In  December  2001,  the  Peoples  Bancorp of North Carolina, Inc. formed a
wholly  owned  Delaware  statutory  trust,  PEBK Capital Trust I ("PEBK Trust"),
which  issued  $14  million  of guaranteed preferred beneficial interests in the
Company's  junior  subordinated  deferrable  interest debentures that qualify as
Tier  I  capital  under  Federal  Reserve  Board  guidelines.  All of the common
securities  of  PEBK  Trust  are  owned  by  the  Company.