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Last $1.50 USD
Change Today 0.00 / 0.00%
Volume 0.0
As of 8:10 PM 04/30/15 All times are local (Market data is delayed by at least 15 minutes).

new peoples bankshares inc (NWPP) Snapshot

Open
$1.55
Previous Close
$1.50
Day High
$1.55
Day Low
$1.50
52 Week High
08/25/14 - $1.66
52 Week Low
08/18/14 - $1.05
Market Cap
34.3M
Average Volume 10 Days
115.5
EPS TTM
$0.02
Shares Outstanding
22.9M
EX-Date
--
P/E TM
75.0x
Dividend
--
Dividend Yield
--
Current Stock Chart for NEW PEOPLES BANKSHARES INC (NWPP)

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new peoples bankshares inc (NWPP) Details

New Peoples Bankshares, Inc. operates as the bank holding company for New Peoples Bank, Inc. that offers banking and related financial services to individuals, small to medium size businesses, and the professional community. Its deposit products include checking and savings accounts, time deposits, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit. The company’s loan portfolio comprises commercial and industrial loans to finance accounts receivable, inventory, property, plant, and equipment; 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 for financing automobiles, home improvements, education, personal investments, and other purposes. It also offers other bank services, such as safe deposit boxes, cashier’s checks, cash management services, direct deposit of payroll and social security checks, and automatic drafts for various accounts; ATM cards and credit card services; and electronic banking services, such as debit cards, Internet banking, telephone banking, and wire transfers, as well as provides walk-up tellers, drive-in windows, and automated teller machines. The company, through its other subsidiaries, provides property, general and professional liability, bonds, life and health, and credit life and accident insurance insurance products; mutual funds, fixed and variable annuities, and fee based asset management; and web design and hosting services. It operates through 23 full service branches. New Peoples Bankshares, Inc. is headquartered in Honaker, Virginia.

233 Employees
Last Reported Date: 03/26/15

new peoples bankshares inc (NWPP) Top Compensated Officers

Chief Executive Officer, President, Chief Exe...
Total Annual Compensation: $175.9K
Chief Operating Officer, Executive Vice Presi...
Total Annual Compensation: $173.4K
Chief Credit Officer, Executive Vice Presiden...
Total Annual Compensation: $160.5K
Compensation as of Fiscal Year 2014.

new peoples bankshares inc (NWPP) Key Developments

New Peoples Bankshares Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

New Peoples Bankshares Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total interest and dividend income of USD 6,266,000 against USD 6,800,000 a year ago. Net interest income was USD 5,410,000 against USD 5,743,000 a year ago. Net interest income after provision for loan losses was USD 5,410,000 against USD 5,743,000 a year ago. Income before income taxes was USD 625,000 against loss before income taxes of USD 73,000 a year ago. Net income was USD 622,000 or USD 0.03 per basic and diluted share against net loss of USD 72,000 or USD 0.00 per basic and diluted share a year ago. The improvement was mainly driven by reductions of USD 417,000 in expenses related to other real estate owned and repossessed assets, USD 292,000 in salaries and employee benefits, and USD 156,000 in deposit insurance expense. Return on average assets was 0.38% against negative return on average assets of 0.04% a year ago. Return on average stockholder’s equity was 5.82% against negative return on average stockholder’s equity 0.73% a year ago.

New Peoples Bankshares Inc. Announces Management Changes

Joseph D. Pennington, age 42, has been appointed Senior Vice President and Chief Financial Officer, Treasurer and Secretary of New Peoples Bankshares Inc. effective April 27, 2015. He had served as Senior Vice President and Financial Officer of the company since joining in February of 2015. Mr. Pennington, who is a certified public accountant, served as a Senior Manager for Elliott Davis, LLC from October of 2012 to February of 2015. Prior to that, he served as the Chief Financial Officer of Bank of Virginia from March 2011 until October 2012. From March of 2009 to February of 2011, he was the Controller for HomeTown Bank located in Roanoke, Virginia. Mr. Pennington has over 15 years of community banking experience. He is a 1996 graduate of West Virginia University with a Bachelor of Science degree in Accounting. Effective April 27, 2015, Mr. Frank A. Sexton, Jr. will no longer serve as Interim Chief Financial Officer, Secretary and Treasurer of the company. He will continue serving as the company's Executive Vice President and Chief Operating Officer where he has served since 2003.

New Peoples Bankshares Inc. Announces Management Changes

On December 17, 2014, the Board of Directors of New Peoples Bankshares Inc. announced that Mr. Mullins resigned from his position as President, Chief Executive Officer, and Director of the company and its subsidiaries effective December 17, 2014. Mr. Mullins is assisting the company with this transition. These changes with Mr. Mullin's positions with the company did not result from any disagreement with the company on any matter relating to the company's operations, policies, or practices. On December 17, 2014, the Board of Directors of the company appointed C. Todd Asbury, to succeed Mr. Mullins as President and Chief Executive Officer of the company and its subsidiaries effective immediately. Mr. Asbury has served as Executive Vice President, Chief Financial Officer, and Treasurer of the company and its subsidiaries since May 2009, Secretary of the company and its subsidiaries since May 2010, and as Senior Vice President, Chief Financial Officer and Treasurer of the company and subsidiaries from the time he joined the company in December 2003 to May 2009. On December 17, 2014, the Board of Directors of the company and subsidiaries appointed Frank Sexton, Jr., Executive Vice President and Chief Operating Officer as Interim Chief Financial Officer and Secretary and Treasurer effective December 17, 2014 in addition to his current duties. Mr. Sexton joined the Bank in 1998 as Executive Vice President and Cashier of New Peoples Bank Inc. and upon the formation of the company in 2001, he served as Executive Vice President, Chief Financial Officer and Secretary until December 2003.

 

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Industry Average

Valuation NWPP Industry Range
Price/Earnings 35.9x
Price/Sales 1.2x
Price/Book 0.8x
Price/Cash Flow 36.7x
TEV/Sales NM Not Meaningful
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