The company appears to be a financial institution with extensive banking operations, including loans, deposits, securities, and related financial activities.

# Company Summary

The provided information mainly lists sections from a regulatory or financial filing, specifically parts of Item headings such as:

- Item Business
- Item Risk Factors
- Item Unresolved Staff Comments
- Item Cybersecurity
- Item Properties
- Item Legal Proceedings
- Item Mine Safety Disclosures

There are no specific details included about the company's operations, such as the industry, products or services offered, number of customers, employees, revenue, or income in the given excerpt. Therefore, based solely on this information, a detailed summary of what the company does cannot be provided.

New Peoples Bankshares, Inc. is a Virginia-based financial holding company that provides a range of banking, investment, and insurance services mainly to individuals and small to medium-sized businesses in the Tri-State Area of Virginia, West Virginia, North Carolina, and Tennessee.


# New Peoples Bankshares, Inc. Overview

## General Information
- **Company Name:** New Peoples Bankshares, Inc. (New Peoples, the Company)
- **Headquarters:** Honaker, Virginia
- **Primary Business:** Virginia financial holding company
- **Subsidiary:** New Peoples Bank, Inc. (the "Bank")

## Services Offered
New Peoples Bank provides a comprehensive range of banking and related financial services primarily targeting individuals, small to medium-sized businesses, and professionals within its market area:
- **Banking Services:**
  - Accepts deposits
  - Consumer and commercial loans
  - Business and personal checking and savings accounts
  - 24-hour ATM services
  - Merchant transaction processing
- **Investment Services:**
  - Fixed and variable annuities
  - Fee-based asset management
  - Mutual funds
  - Long-term care insurance
  - Employee benefit plans
- **Insurance Services:**
  - Through its subsidiary, NPB Insurance Services, Inc.

## Branch Locations
- **Total Branches as of March 2024:** 17 full-service locations across:
  - **Virginia:** 13 branches (e.g., Abingdon, Bluefield, Bristol, etc.)
  - **West Virginia:** 2 branches in Princeton
  - **North Carolina:** 1 branch in Boone
  - **Tennessee:** 1 branch in Kingsport

## Employees
- **Total Employees:** 183 full-time equivalent employees
- **Employee Relations:** Relations with employees are considered excellent, with no union representation.

## Market and Customer Base
- **Primary Market Area:** Southwestern Virginia, Southern West Virginia, Northeastern Tennessee, and Western North Carolina (collectively referred to as the "Tri-State Area").
- **Customer Focus:** Primarily small to medium-sized businesses and professionals.
- **Competitive Advantage:** Emphasis on personalized service and community banking relationships, as well as technologically enabled banking solutions.

## Financial Performance (as of fiscal year-end December 31, 2023)
- **Net Investment in Premises and Equipment:** $18.3 million
- **Customer Base:** Specific customer numbers not disclosed; however, the bank focuses on local communities, primarily in its branch locations.
- **Revenue and Income:** Financial specifics regarding revenue and net income are not provided within the overview; for detailed financial performance, refer to the section on `Management’s Discussion and Analysis of Financial Condition and Results of Operations` in regulatory filings.

## Capital and Regulation
- **Holding Company Dividends:** Subject to various regulatory restrictions and must maintain capital at or above regulatory minimums.
- **Regulatory Environment:** New Peoples Bank is regulated by the Federal Reserve and Virginia State Corporation Commission. It must adhere to the Bank Holding Company Act and the Community Reinvestment Act among other financial regulations.

This summary highlights the operational scale, market presence, and full range of services provided by New Peoples Bankshares, Inc. while focusing on the importance of community engagement and personalized banking solutions.


NEW PEOPLES BANKSHARES INC

10-K / March 31, 2025

10-K / April 1, 2024

10-K / March 31, 2025

Company Summary