New Peoples Bank, Inc. in Honaker, Virginia (VA), TN, WV
Overview, Financial Summary, Detailed Financial Reports, Branches


  • New Peoples Bank, Inc. in Honaker, Virginia (VA), TN, WV
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New Peoples Bank, Inc. - Overview

  • General
  • FDIC Certificate #: 34890
    Status: Active
    Federal Reserve ID: 2736451
    Bank Holding Company (Regulatory Top Holder): New Peoples Bankshares, Inc. (RSSDID: 3049617, Location: Honaker, VA)
    Date Established: October 28, 1998
    WWW: http://www.newpeoplesbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 28 (Domestic: 28, Interstate: Yes)
    FDIC's unique #: 61953
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: October 28, 1998
    Last Structure Change Effective Date: June 29, 2007
    Last Structure Change Process Date: August 21, 2007
    Last Data Update: August 21, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 2 Gents Drive, Honaker, VA 24260
    County: Russell
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Richmond
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
  • History of Changes
  • Change in Location
    Office Purchased
  • Financial Summary
  • Total assets: $781.6 mil
    Equity capital: $52.2 mil
    Deposits held in domestic offices: $709.1 mil
    Return on assets (ROA): -0.85% (-$6.6 mil)
    Quarterly return on assets: -2.22% (-$17.4 mil)
    Return on Equity (ROE): -12.23% (-$6.4 mil)
    Quarterly return on equity: -32.50% (-$16.9 mil)
    Net income: -$7.0 mil
    Quarterly Net income: -$4.4 mil
    Pretax return on assets: -1.06% (-$8,285.0 mil)
    Quarterly Pretax return on assets: -2.33% (-$18,211.3 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 306Total employees (full-time equivalent)
  • $781,601Total assets
  • $90,476Cash and due from depository institutions
  • $72,170Interest-bearing balances
  • $32,434Securities
  • $77Federal funds sold & reverse repurchase agreements
  • $579,436Net loans & leases
  • $18,380Loan loss allowance
  • $0Trading account assets
  • $32,466Bank premises and fixed assets
  • $15,482Other real estate owned
  • $124Goodwill and other intangibles
  • $781,601Life insurance assets
  • $31,106All other assets
  • $729,356Total liabilities and capital
  • $709,125Total liabilities
  • $598,686Total deposits
  • $709,125Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $17,983Trading liabilities
  • $0Other borrowed funds
  • $2,248Subordinated debt
  • $52,245All other liabilities
  • $52,245Total equity capital
  • $52,245Total bank equity capital
  • $0Perpetual preferred stock
  • $12,000Common stock
  • $32,184Surplus
  • $8,061Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $43,820Income earned, not collected on loans
  • $317Earning assets
  • $3,036Long-term assets (5+ years)
  • $684,117Average Assets, year-to-date
  • $143,719Average Assets, quarterly
  • $825,903Volatile liabilities
  • $795,765Insider loans
  • $502,760FHLB advances
  • $779,003Loans and leases held for sale
  • $11,351Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $47,031Tier 2 risk-based capital
  • $11,351Total risk weighted assets
  • $0Total unused commitments
  • $29,004Restructured Loans and leases
  • $5,739Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $41,636Total interest income
  • $8,963Total interest expense
  • $32,673Net interest income
  • $7,959Provision for loan and lease losses
  • $5,429Total noninterest income
  • $0Fiduciary activities
  • $2,488Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,941Additional noninterest income
  • $38,878Total noninterest expense
  • $15,710Salaries and employee benefits
  • $3,952Premises and equipment expense
  • $19,216Additional noninterest expense
  • -$8,735Pre-tax net operating income
  • $0Securities gains (losses)
  • -$1,750Applicable income taxes
  • -$6,985Income before extraordinary items
  • $0Extraordinary gains - net
  • -$6,985Net income attributable to bank
  • $0Net charge-offs
  • -$6,985Cash dividends
  • $14,746Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.74%Yield on earning assets
  • 1.23%Cost of funding earning assets
  • 4.50%Net interest margin
  • 0.75%Noninterest income to earning assets
  • 5.36%Noninterest expense to earning assets
  • -0.85%Net operating income to assets
  • -0.85%Return on assets (ROA)
  • -1.06%Pretax return on assets
  • -12.23%Return on equity (ROE)
  • -12.23%Retained earnings to average equity (YTD only)
  • 2.25%Net charge-offs to loans
  • 53.97%Credit loss provision to net charge-offs
  • -0.05%Efficiency ratio
  • 90,953Assets per employee
  • 2.55%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.07%Loss allowance to noncurrent loans
  • 41.94%Noncurrent assets plus other real estate owned to assets
  • 7.59%Noncurrent loans to loans
  • 7.33%Net loans and leases to deposits
  • 81.71%Net loans and leases to core deposits
  • 86.03%Equity capital to assets
  • 6.68%Core capital (leverage) ratio
  • 6.04%Tier 1 risk-based capital ratio
  • 9.35%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $825,903Average earning assets
  • $57,123Average equity
  • $725,907Average loans

List of branches

  • 2 Tennessee Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    14430228Bloomingdale Office Branch2600 N. John B. Dennis Hwy, Kingsport, TN 37660September 18, 2003Full Service Brick and Mortar
    28467280Jonesborough Branch372 East Jackson Blvd., Jonesborough, TN 37659September 14, 2006Full Service Brick and Mortar
  • 24 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    061953New Peoples Bank, Inc.2 Gents Drive, Honaker, VA 24260October 28, 1998Full Service Brick and Mortar
    1290844Weber City Office1299 Us Hwy 23 S, Weber City, VA 24290November 02, 1998Full Service Brick and Mortar
    2290845Castlewood Office87 Miners Drive, Castlewood, VA 24224March 22, 1999Full Service Brick and Mortar
    3356993Lebanon Office1421 East Main Street, Lebanon, VA 24266May 08, 2000Full Service Brick and Mortar
    4356994Haysi Office111 Haysi Main, Haysi, VA 24256May 08, 2000Full Service Brick and Mortar
    5360980Pounding Mill Office12602 Gov. G.C. Perry Highway, Pounding Mill, VA 24637April 26, 2001Full Service Brick and Mortar
    6364465Gate City Office Branch663 East Jackson Street, Gate City, VA 24251January 03, 2002Full Service Brick and Mortar
    7364466Clintwood Office Branch198 Colley Shopping Center, Clintwood, VA 24228May 16, 2002Full Service Brick and Mortar
    9419952Big Stone Gap Office Branch419 Shawnee Avenue East, Big Stone Gap, VA 24219August 08, 2002Full Service Brick and Mortar
    11419954Grundy Office Branch20445 Riverside Drive, Grundy, VA 24614April 24, 2003Full Service Brick and Mortar
    12422415Tazewell Office Branch157 Tazewell Mall Circle, Tazewell, VA 24651September 26, 2002Full Service Brick and Mortar
    15430229Bristol Office Branch101 Linden Square Drive, Bristol, VA 24202December 18, 2003Full Service Brick and Mortar
    16430230Richlands Office Branch2302 Second Street, Richlands, VA 24641May 20, 2004Full Service Brick and Mortar
    17442648Abingdon Office Branch350 West Main Street, Abingdon, VA 24210August 12, 2004Full Service Brick and Mortar
    18442649Commonwealth Ave Branch75 Commonwealth Ave, Bristol, VA 24201October 07, 2004Full Service Brick and Mortar
    19442650Bluefield Office Branch514 Commerce Drive, Bluefield, VA 24605May 19, 2005Full Service Brick and Mortar
    21453782Pound Branch11241 Indian Creek Road, Pound, VA 24279March 30, 2006Full Service Brick and Mortar
    22453783Esserville Branch5448 Wise-Norton Road, Wise, VA 24293April 06, 2006Full Service Brick and Mortar
    23455073Honaker Operations Center Branch67 Commerce Drive, Honaker, VA 24260December 30, 2005Limited Service Administrative
    25466369Chilhowie Branch155 East Lee Hwy., Chilhowie, VA 24319June 21, 2007Full Service Brick and Mortar
    2644465Norton Branch600 Trent Street, Norton, VA 24273January 01, 1971Full Service Brick and Mortar
    27285468Pennington Gap Branch42311 E. Morgan Ave., Pennington Gap, VA 24277January 01, 1971Full Service Brick and Mortar
    29467281Jonesville Branch108 Fisher Road, Jonesville, VA 24263November 02, 2006Full Service Brick and Mortar
    30479342Bland Branch427 Main Street, Bland, VA 24315October 25, 2007Full Service Brick and Mortar
  • 2 West Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    8365333Princeton Office Branch1221 Stafford Drive, Princeton, WV 24740September 20, 2001Full Service Brick and Mortar
    31493450Bluewell Branch3996 Coal Heritage Road, Bluewell, WV 24701August 14, 2008Full Service Brick and Mortar

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