July 23, 2017 4:22 PM ET

Banks

Company Overview of New Peoples Bankshares, Inc.

Company Overview

New Peoples Bankshares, Inc. operates as a financial holding company for New Peoples Bank, Inc. that provides a range of banking and financial services to individuals, small to medium size businesses, and the professional community in the United States. The company offers checking and savings accounts, time deposits, demand deposits, interest-bearing demand deposits, money market deposit accounts, certificates of deposit, and individual retirement accounts. It also provides commercial and industrial loans; residential mortgage loans, such as residential first and second mortgage loans, residential construction loans, home equity lines of credit, and term loans; construction loans; and consum...

67 Commerce Drive

Honaker, VA 24260

United States

Founded in 1997

243 Employees

Phone:

276-873-7000

Fax:

276-873-7001

Key Executives for New Peoples Bankshares, Inc.

CEO, President, CEO of New Peoples Bank, Inc. and President of New Peoples Bank, Inc.
Age: 46
Total Annual Compensation: $255.5K
Interim CFO, COO & Executive VP
Age: 67
Total Annual Compensation: $180.1K
Chief Credit Officer, EVP , Chief Credit Officer of New Peoples Bank and EVP of New Peoples Bank
Age: 53
Total Annual Compensation: $165.3K
Compensation as of Fiscal Year 2016.

New Peoples Bankshares, Inc. Key Developments

New Peoples Bankshares Inc. Announces Executive Changes

New Peoples Bankshares Inc. appointed Frank Sexton Jr. interim CFO, secretary and treasurer of the company and unit New Peoples Bank Inc. Sexton takes over the vacant posts following the resignation of Joseph Pennington, effective June 30. Sexton will continue to serve in his current roles of executive vice president and COO.

New Peoples Bankshares, Inc. Announces Resignation of Joseph D. Pennington as Senior Vice President, Chief Financial Officer, Secretary and Treasurer

On June 6, 2017, New Peoples Bankshares, Inc. announced that Joseph D. Pennington has tendered his resignation from his positions as Senior Vice President, Chief Financial Officer, Secretary and Treasurer of the company and its subsidiaries to become effective June 30, 2017. Mr. Pennington is assisting the company with this transition.

New Peoples Bankshares, Inc Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017

New Peoples Bankshares, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported Total interest and dividend income was $6,089,000 against total interest and dividend income of $6,082,000 a year ago. Net interest income was $5,365,000 against net interest income of $5,451,000 a year ago. Income before income taxes was $101,000 against income before income taxes of $700,000 a year ago. Net income was $115,000 against net income of $698,000 a year ago. Return on average stockholder's equity of 0.99% against return on average stockholder's equity of 5.99% a year ago. Return on average assets of 0.07% against return on average assets of 0.45% a year ago. Book value per share was $2.02 as of March 31, 2017.

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Recent Private Companies Transactions

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