August 24, 2016 2:56 AM ET

Banks

Company Overview of New Peoples Bankshares Inc.

Company Overview

New Peoples Bankshares, Inc. operates as the bank holding company for New Peoples Bank, Inc. that provides financial services to individuals, small to medium size businesses, and the professional community. 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 consumer loans, including secured and unsecured loans...

67 Commerce Drive

Honaker, VA 24260

United States

Founded in 1997

262 Employees

Phone:

276-873-7000

Fax:

276-873-7001

Key Executives for New Peoples Bankshares Inc.

Chief Executive Officer, President, Chief Executive Officer of New Peoples Bank, Inc. and President of New Peoples Bank, Inc.
Age: 45
Total Annual Compensation: $250.5K
Chief Operating Officer, Executive Vice President, Chief Operating Officer of New Peoples Bank, Inc. and Executive Vice President of New Peoples Bank, Inc.
Age: 66
Total Annual Compensation: $176.8K
Chief Credit Officer, Executive Vice President , Chief Credit Officer of New Peoples Bank and Executive Vice President of New Peoples Bank
Age: 52
Total Annual Compensation: $165.2K
Compensation as of Fiscal Year 2015.

New Peoples Bankshares Inc. Key Developments

New Peoples Bankshares Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016

New Peoples Bankshares Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported total interest and dividend income of USD 6,031,000 against USD 6,412,000 a year ago. Net interest income was USD 5,402,000 against USD 5,601,000 a year ago. Income before income taxes was USD 879,000 against USD 462,000 a year ago. Net income was USD 882,000 or USD 0.04 per basic and diluted share against net loss of USD 462,000 or USD 0.02 per basic and diluted share a year ago. Return on average assets was 0.56% against 0.28% a year ago. Return on average stockholder’s equity was 7.49% against 4.19% a year ago. For the six months, the company reported total interest and dividend income of USD 12,113,000 against USD 12,678,000 a year ago. Net interest income was USD 10,853,000 against USD 11,011,000 a year ago. Income before income taxes was USD 1,579,000 against USD 1,087,000 a year ago. Net income was USD 1,580,000 or USD 0.07 per basic and diluted share against USD 1,084,000 or USD 0.05 per basic and diluted share a year ago.

New Peoples Bankshares Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2016

New Peoples Bankshares Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2016. The company reported net income of $698,000, or $0.03 earnings per share for the quarter ended March 31, 2016. This compares to net income of $622,000, or $0.03 per share, for the same period ended March 31, 2015. Total interest and dividend income was $6,082,000 compared to $6,266,000 for the same period ended March 31, 2015. Net interest income was $5,451,000 compared to $5,410,000 for the same period ended March 31, 2015. Net interest income after provision for loan losses was $5,451,000 compared to $5,410,000 for the same period ended March 31, 2015. Income before income taxes was $700,000 compared to $625,000 for the same period ended March 31, 2015. Return on average stockholders' equity was 5.99% compared to 5.82% for the same period ended March 31, 2015. Return on average assets was 0.45% compared to 0.38% for the same period ended March 31, 2015.

New Peoples Bankshares Inc., Annual General Meeting, May 17, 2016

New Peoples Bankshares Inc., Annual General Meeting, May 17, 2016, at 18:00 US Eastern Standard Time. Location: Abingdon office of New Peoples Bank 350 West Main Street Abingdon, VA 24210 United States Agenda: To elect three directors to serve for terms of three years each expiring at the 2019 annual meeting of shareholders; to approve a non-binding resolution on the compensation of the named executive officers; to ratify the audit committee's appointment of Elliott Davis Decosimo, LLC as the company's independent registered public accounting firm for the year ending December 31, 2016; and to act upon such other matters as may properly come before the annual meeting.

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