New Peoples Bankshares Inc (ID) (NWPP)

They had a great Q4 2015, but I think they sold some assets, so it inflated the ttm EPS.

I am looking forward to another good quarter.

After re-reviewing the 2016 Q1 and Q2 reports it is clear that business is getting better for NWPP and I suspect it is on an uptrend. Definitely a big improvement over first 6 mos. of 2015. With this recent PPS uptick, my guess is that they will have another good quarter and the ttm will rise again.

Some price action today. Was out of town; just back. Anything that triggered this? TIA.

Valuation discussion - http://www.capitalcube.com/blog/index.php/new-peoples-bankshares-inc-strong-price-momentum-but-may-lack-support-from-fundamentals/

NWPP's written agreement with the Federal Reserve on July 29, 2010 HAS BEEN TERMINATED
http://www.federalreserve.gov/releases/h2/20160206/default.htm
New Peoples Bankshares, Inc., Honaker, Virginia, and New Peoples Bank, Inc. -- written agreement issued July 29, 2010, terminated January 20, 2016.
-Announced, February 2, 2016

New Peoples Bankshares Reports 2015 Results (3/04/16)

Honaker, Virginia -- New Peoples Bankshares (the “Company”) (OTCPINK: NWPP) and its wholly-owned subsidiary New Peoples Bank (the “Bank”) today announced consolidated net income of $2.7 million, or $0.12 earnings per share, for the year ended December 31, 2015. This compares to consolidated net income of $240,000, or $0.01 earnings per share, for the year ended December 31, 2014 which is an improvement of $2.4 million, or $0.11 earnings per share.

Highlights from the year ended December 31, 2015 include:

• A negative provision for loan losses of $2.2 million;

• A cumulative writedown of other real estate owned properties of $3.2 million, an increase of $2.1 million, or 195.36% when compared to 2014;

• A reduction of $1.0 million, or 24.70%, in interest expenses when compared to 2014;

• Salaries and employee benefits decreased from $12.7 million in 2014 to $11.8 million in 2015, a decrease of $902,000, or 7.09%;

• Received regulatory approval to make all required interest payments on trust preferred securities;

• A decrease of $7.1 million, or 32.08% in nonaccrual loans during 2015;

• Net charge offs of $229,000 for 2015, which is an improvement of $2.9 million, or 92.75%,versus net charge offs of $3.2 million in 2014;

• A decrease of $7.8 million, or 28.41%, in substandard loans during 2015;

• A decrease of $2.6 million, or 17.62%, in other real estate owned during 2015;

• A decrease of $43.0 million, or 14.33%, in higher-costing time deposits during 2015;

• A strong net interest margin of 3.93% for 2015, which is an increase of 22 basis points over the 3.71% net interest margin for 2014;

• An improvement in all regulatory capital ratios which exceeds “well capitalized” as defined by regulatory guidelines; and,

• Tangible book value per share of $1.97 as of December 31, 2015.

“On February 2nd of 2016, we announced the termination of the formal written agreement the Company and Bank were under for over 5 years” stated Todd Asbury, President and Chief Executive Officer. He added “The tremendous progress made during 2015 in our financial results, capital position and credit quality that led to the termination of the formal written agreement was the result of the foundation laid in previous years. This foundation, which includes enhanced board and management oversight and risk-management practices, as well as stricter credit underwriting, will be the springboard for future balance sheet growth as we intend to prudently and conservatively increase loans and deposits. We believe we are well-positioned to achieve our growth goals and are extremely excited about the next phase of our Company.”

2015 Year-to-Date Results

The Company‘s consolidated net income for the year ended December 31, 2015 was $2.7 million, or earnings per share of $0.12, compared to consolidated net income of $240,000, or earnings per share of $0.01, for the year ended December 31, 2014. This is an improvement of $2.4 million, or $0.11 earnings per share. The improvement was mainly driven by maintaining a strong net interest margin of 3.93%, cost savings strategies initiated in prior periods but realized in the current period, and a negative provision for loan losses of $2.2 million. The annualized return on average assets for the fiscal year 2015 was 0.41% as compared to 0.04% for the same period in 2014. The annualized return on average equity was 5.95% for the fiscal year 2015 and 0.59% for the same period in 2014.

The Company’s primary source of income, net interest income, slightly increased by $13,000, or 0.06%, from 2014 to 2015. The increase in net interest income is due primarily to the $1.0 million savings in interest expense during 2015 mainly driven by the $43.0 million reduction in time deposits. The savings in interest expense offset the $989,000 decrease in interest income, which was due to a reduction in average loans during 2015 and decreased interest income from new and renewed loans recorded at lower interest rates, and an elevated level of nonaccrual loans. Loan interest income decreased $1.2 million, or 4.84%, from $24.9 million in 2014 to $23.7 million in 2015.

For 2015, noninterest income increased to $6.4 million from $6.2 million for the same period in 2014. This is an increase of $162,000, or 2.60%. This increase was primarily due to the $217,000 in life insurance earnings we received in August 2015 as the result of the death benefits we received on a bank-owned life insurance policy.

Noninterest expenses decreased $71,000, or 0.25%, to $28.5 million in 2015 from $28.6 million in 2014. Salaries and employee benefits decreased from $12.7 million in 2014 to $11.8 million in 2015, a decrease of $902,000, or 7.09%. This decrease was mainly due to management’s decision to close four lower-performing branches in October 2014 which resulted in staff reductions and salary and employee benefit savings in 2015. Occupancy and equipment expenses remained constant at $3.9 million in 2015 and 2014. Advertising expense decreased $56,000 from 2014 to 2015. Data processing and telecommunication expenses decreased $95,000 from 2014 to 2015. In 2015, FDIC assessment expense decreased $585,000, or 41.0%, from $1.4 million in 2014 to $842,000 in 2015. Expenses related to other real estate owned and repossessed assets increased $1.8 million, or 78.8%, from $2.3 million in 2014 to $4.1 million in 2015. During 2015 we recorded writedowns on other real estate owned properties in the amount of $3.2 million compared to $1.2 million in 2014. OREO decreased in 2015 to $12.4 million at December 31, 2015 from $15.0 million at December 31, 2014.

Balance Sheet

At December 31, 2015, total assets were $625.9 million, total loans were $441.2 million, and total deposits were $558.0 million. Total assets decreased $25.2 million in 2015, or 3.87%, from $651.1 million at December 31, 2014. During the 2014 and early 2015, we strategically decreased total assets and total loans to improve our capital position. However, going forward, we anticipate total assets increasing due to our plan to conservatively and prudently grow the loan portfolio, namely commercial loans. In August 2015, we hired an experienced commercial loan officer as our First Senior Vice President and Senior Commercial Banking Officer of the Bank. Subsequently, we have hired two additional commercial loan officers and a business development officer to assist in growing the loan portfolio.

On the liability side of the balance sheet, during 2015, as funding needs declined, total deposits declined $27.2 million, or 4.64% to $558.0 million. However, lower-costing non-time deposits increased $15.8 million, or 5.55%, while time deposits declined $43.0 million, or 14.33%. FHLB advances declined $1.2 million to $2.96 million while trust preferred securities remained unchanged at $16.5 million.

Total equity was $46.1 million at December 31, 2015. The Bank improved its capital position and maintained a well-capitalized status during both 2015 and 2014. The Bank’s capital ratios at December 31, 2015 as compared to December 31, 2014, respectively were as follows: Tier 1 leverage ratio of 9.67% versus 8.19%; Tier 1 risk based capital ratio of 16.29% versus 14.46%; and total risk based capital ratio of 17.55% versus 15.73%. The Company and Bank are considered well-capitalized under regulatory guidelines.

Asset Quality and Allowance for Loan Losses

Asset quality continued its trend of improvement during 2015. We have experienced a decrease in loan delinquencies and nonaccrual loans in 2015. Total past due loans were $13.4 million as of December 31, 2015, a decrease of $6.1 million, or 31.20%, from the $19.5 million as of December 31, 2014. At December 31, 2015, there were 161 loans in non-accrual status totaling $14.8 million, or 3.37% of total loans. At December 31, 2014, there were 165 loans in non-accrual status totaling $21.9 million, or 4.78% of total loans. There were no loans past due 90 days or greater and still accruing interest at December 31, 2015 or 2014.

Nonperforming assets, which include nonaccrual loans, loans past due 90 days or greater still accruing interest, and other real estate owned, decreased $9.7 million, or 26.18%, from $36.9 million to $27.2 million during 2015. Total nonperforming assets represented 4.35% and 5.67% of total assets at December 31, 2015 and December 31, 2014, respectively. Nonaccrual loans have declined $7.1 million, or 32.08%, to $14.8 million and other real estate owned declined $2.6 million or 17.62%, to $12.4 million during 2015.

The allowance for loan losses decreased to $7.5 million at December 31, 2015 as compared to $9.9 million at December 31, 2014. The allowance for loan losses at the end of 2015 was approximately 1.70% of total loans as compared to 2.17% at the end of 2014. No provision for loan losses was recorded during 2014, while negative provisions of $2.2 million were recorded in 2015. Net loans charged off decreased in 2015 as they were $229,000, or 0.05% of average loans, compared to $3.2 million, or 0.67% of average loans, in 2014.

About New Peoples Bankshares, Inc.

New Peoples Bankshares, Inc. is a one-bank holding company headquartered in Honaker, Virginia. Its wholly-owned subsidiary provides banking products and services through its 19 locations throughout southwest Virginia, Eastern Tennessee, and southern West Virginia. The Company’s common stock is traded over the counter under the trading symbol “NWPP”. Additional investor information can be found on the Company’s website at www.npbankshares.com.

[tables deleted]

http://www.sec.gov/Archives/edgar/data/1163389/000072174816001021/nwpp8k030416ex99_1.htm

Interesting trade today - $10K buy/sell

Must be a recent policy change. Last reference I could find to a NWPP bank being robbed was 2013. Not sure the folks at my bank would be so welcoming.

illegal,
now I know our shares are safe.

Posted by: Bigdaddy45 | Aug 6, 2015

From the first time I walked into New Peoples Bank I saw there was a difference. There was a coffee pot set up to help yourself. People where so friendly. I always carry a pistol on my hip and so many "big" banks put a "No Gun" sign up on the door which shows they don't care about the safety or rights of their customers at all. Why else would anyone deny a law abiding citizen the right to defend themselves? New peoples Bank welcomed me with my firearm and I even have had many good discussions with staff there about how important it is to always carry a gun everywhere and at all times. Now many of the employee's have got their concealed carry permits and also choose to to protect themselves. They even smile when other customers see my gun and I stand there and encourage them to also carry into the bank. Great people, great service and some American common sense can all be found there.

Reply

0 vote | Report Post
AWESOME IN ALL WAYS
Posted by: Wrathchild3777 | May 15, 2014

I absolutely love New Peoples Bank. No charge checking and savings, rewards points, and the most friendly and help full employee's. What I like most is they do not force their customers into a unsafe zone. In other words they don't place those dangerous "no guns" signs on the door. I openly carry my weapon in there all the time and they are fully co-operative with recognizing the fact that it helps ensure safety for them and myself while we do business. There is always a hot cup of coffee and a warm and friendly smile for everyone who walks into the bank.

Reply

Either gold or they are financing dentures. Or both - dentures with gold grills!

illegal you and Salty know how to brighten up my day.I am laughing while writing this post.Now, I am wondering how did NWPP do so well last quarter.Must be gold in them there hills.

Wonder what they are selling. Did you ever look up Honaker, VA (NWPP HQ) on Google maps? Then turn on the aerial view. Might as well rename the place Trailerville. Can't make a lot of money financing those. And, not an easy place to get to. Up there in the hills they must be loaning money to moonshiners. If you go to the next shareholder's meeting, pick me and the fishin' gear up on the way. They are next to Lewis Creek. Not sure it we can cast to it from their gazebo, but we could sit in the shade with a jug of white lightning! Will have to pick up bait and possum jerky in Lebanon - couldn't find a bait and tackle shop for Honaker.

Now, if I can just do the same with my retirement funds ...

You make an announcement that you're in a stock and it immediately goes up a bit over 15%. Now that is power that I doubt even Warren Buffett has. I stand in amazement!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Looks like I got the party started, but probably not getting anymore at $1.46!

illegal, $1.68 bid ask 1.70.


With the possibility that the Fed will raise interest rates this month looking more certain by the day, investors are bidding up shares of bank stocks like Bank of America (NYSE:BAC), Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM), Morgan Stanley (NYSE:MS) and Wells Fargo (NYSE:WFC).

The Labor Department said that the total nonfarm payroll employment rose by 211,000 jobs in November, keeping the unemployment rate unchanged at 5%.

The report may seal the deal for a rate hike after Federal Reserve Chair Janet Yellen said on Wednesday that she's "looking forward" to the first interest rate hike in nearly 10 years.

OK, I joined the party NWPP yesterday.

NWPP earned .10 a share for the third quarter.

NET INCOME
$ 2,293
















Income Per Share


Basic
$ 0.10














Fully Diluted
$ 0.10 $ 0.02















Weighted Average Shares of Common Stock


Basic
22,878,654 21,872,293














Fully Diluted
22,878,654 21,872,293

NWPP earned .10 a share for the third quarter.

NET INCOME
$ 2,293
















Income Per Share


Basic
$ 0.10














Fully Diluted
$ 0.10 $ 0.02















Weighted Average Shares of Common Stock


Basic
22,878,654 21,872,293














Fully Diluted
22,878,654 21,872,293

NWPP call report earnings for first 9 months 3,891.

On August 28, 2015, New Peoples Bank, Inc. (the “Bank”), a wholly owned subsidiary of New Peoples Bankshares, Inc., recorded a recovery of $1.2 million from proceeds of a life insurance policy it had acquired in 2010 as part of a settlement with a former borrower on several defaulted loans. The insured party on the policy passed away earlier this year. The Bank had charged off these loans in 2008. Management is evaluating the impact the recovery may have on earnings.

https://www.depositaccounts.com/banks/new-peoples-bank-inc.html

Salty,NEW PEOPLES BANKSHARES ANNOUNCES PROFITABLE FIRST QUARTER 2015

Honaker, Virginia – New Peoples Bankshares (the “Company”) (OTCQB: NWPP) and its wholly-owned subsidiary New Peoples Bank (the “Bank”) today announced net income of $622,000, or $0.03 earnings per share, for the quarter ended March 31, 2015. This compares to a net loss of $(72,000), or $(0.003) per share, for the same period ended March 31, 2014 which is an improvement of $694,000, or $0.03 per share. The improvement was mainly driven by reductions of $417,000 in expenses related to other real estate owned and repossessed assets, $292,000 in salaries and employee benefits, and $156,000 in deposit insurance expense. The expense reductions were partially offset by a decline in net interest income of $333,000 in the 1st quarter of 2015 versus the 1st quarter of 2014. On a linked quarter basis, net income improved $546,000 from the $76,000 profit recorded for the quarter ended December 31, 2014.

Todd Asbury, President and CEO commented “We are pleased with the 1st quarter results as our efforts to improve efficiencies via multiple branch closings in the 4th quarter of 2014 proved to favorably impact our 1st quarter’s bottom line. Our efforts to stabilize and improve credit quality and better manage expenses related to our other real estate were also key drivers in the improved earnings. We are excited about our short and long term prospects for sustainable profitability as we continue our focus on being more efficient, improving asset quality, and building on our well-capitalized position.” He continued by saying “We are working through the lingering issues the Great Recession had on our Company, but we believe we are turning the corner and are poised for conservative balance sheet growth.”

Highlights from the 1st quarter of 2015 include:
A reduction of $1.1 million in noninterest expenses when compared to the 1st quarter of 2014;
No provision for loan losses taken in the 1st quarter;
Received regulatory approval to make the first quarter interest payments on trust preferred securities;
A reduction in nonaccrual loans of $1.2 million, or 5.2% during the quarter;
An increase of $16.7 million in lower costing non-time deposits;
A decrease of $8.6 million in higher costing time deposits; and
The Bank is considered well-capitalized under regulatory standards.

2015 1st Quarter Results

Net interest income for the quarter ended March 31, 2015 was $5.4 million, a 5.8% decrease when compared to the quarter ended March 31, 2014 amount of $5.7 million. The average loan balance of $454.2 million for the 1st quarter of 2015 was $33.2 million less than the average loan balance of $487.4 million for the quarter ended March 31, 2014 and $8.1 million less than the $462.3 million balance recorded for the quarter ended December 31, 2014. Interest income from loan and loan fees was $5.8 million for the 1st quarter of 2015, down $607,000, or 9.5% from the $6.4 million reported in the same period in 2014. On a linked quarter basis, interest income on loans and loan fees declined $280,000 or 4.6%. The cost of interest-bearing liabilities decreased nine basis points to 0.75% for the 1st quarter of 2015 when compared to the 0.84% recorded for the 1st quarter of 2014. The net interest margin declined four basis points to 3.74% for the quarter ended March 31, 2015 when compared to the 3.78% recorded for the same quarter in 2014. On a linked quarter basis, the margin improved two basis points from the 3.72% recorded for the quarter ended December 31, 2014.

Noninterest income for the 1st quarter of 2015 was $1.4 million, which is a modest decline of $95,000 when compared to the $1.5 million for the same period in 2014. A nonrecurring bonus incentive from a vendor of $252,000 was recorded in the 1st quarter of 2014 which was partially offset by increases of $32,000 in gains on sale of securities and $91,000 in deposit service charge income in the 1st quarter of 2015 when compared to the same period in 2014.

Noninterest expenses declined $1.2 million to $6.2 million for the first quarter of 2015 when compared to $7.4 million in noninterest expense in the same period in 2014. Salary and employee benefits expense was $2.9 million for the quarter ended March 31, 2015 which represents declines of $292,000, or 9.0%, and $173,000, or 5.6%, when compared to the $3.2 million and $3.1 million of salary and employee benefit expense recorded in the first and fourth quarters of 2014, respectively. The decline in salary and employee benefit expense was mainly due to management’s decision to close four lower-performing branches in October of 2014. Expenses related to other real estate owned and repossessed assets declined $417,000 to $359,000 for the first quarter of 2015 versus the $776,000 recorded during the first quarter of 2014. FDIC insurance premiums declined $156,000 from $374,000 recorded in the 1st quarter of 2014 to $218,000 recorded for the same period in 2015.
Balance Sheet

Consolidated assets grew to $660.1 million at March 31, 2015, an increase of 1.4%, or $9.0 million over the December 31, 2014 level of $651.1 million. Interest-bearing deposits with banks increased $12.4 million during the quarter to a total of $33.3 million at March 31, 2015. Total loans during the quarter ended March 31, 2015 declined $7.6 million, or 1.7%, to $449.9 million compared to $457.5 million as of December 31, 2014. Investment securities remained relatively flat during the quarter with a balance of $102.5 million at March 31, 2015.

On the liability side of the balance sheet, total deposits grew $8.1 million to $593.3 million during the 1st quarter of 2015. Non-time deposits grew $16.7 million, or 5.9%, from $285.2 million at December 31, 2014 to $301.9 million at March 31, 2015. Time deposits declined $8.6 million, or 3.0%, during the 1st quarter of 2015 to a balance of $291.4. The shift from higher-costing time deposits to lower-costing non-time deposits represents a favorable repositioning of the Company’s deposit mix.

Total equity was $43.9 million at March 31, 2015. The Company and Bank were considered well-capitalized under regulatory guidelines.
Asset Quality and Allowance for Loan Losses

Nonperforming assets declined $1.3 million, or 3.7%, from $36.9 million to $35.6 million during the first quarter of 2015. Total nonperforming assets represented 5.4% and 5.7% of total assets at March 31, 2015 and December 31, 2014, respectively. Nonaccrual loans declined $1.2 million, or 5.2%, to $20.7 million and other real estate owned declined $212,000, or 1.4%, to $14.8 million during the first quarter of 2015.

The allowance for loan losses was $9.0 million as of March 31, 2015, or 1.99% of total loans outstanding, compared to $9.9 million as of December 31, 2014 or 2.17% of outstanding loans. No provisions for loan losses were made in the first quarter of 2015 or during the year ended December 31, 2014. Net charges off during the quarter ended March 31, 2015 totaled $962,000.
About New Peoples Bankshares, Inc.

New Peoples Bankshares, Inc. is a one-bank holding company headquartered in Honaker, Virginia. Its wholly-owned subsidiary provides banking products and services through its 19 locations throughout southwest Virginia, Eastern Tennessee, and southern West Virginia. The Company’s common stock is traded over the counter under the trading symbol “NWPP”. Additional investor information can be found on the Company’s website at www.npbankshares.com.

This news release may include forward-looking statements. These forward-looking statements are based on current expectations that involve risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may differ materially. These risks include: changes in business or other market conditions; the timely development, production and acceptance of new products and services; the challenge of managing asset/liability levels; the management of credit risk and interest rate risk; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the Company's Securities and Exchange Commission reports including, but not limited to, the Annual Report on Form 10-K for the most recent fiscal year end. Pursuant to the Private Securities Litigation Reform Act of 1995, the Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

CONDENSED CONSOLIDATED BALANCE SHEETS
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
KEY PERFORMANCE AND CAPITAL RATIOS

- See more at: http://www.npbankshares.com/Investor-News.aspx#sthash.Jre8OBfH.dpuf

56Chevy, do you remember your post?

NWPP had a nice 1st quarter report pulling in 779K in profits.

Salty, NWPP back in the money.NWPP made a nice profit last quarter.

Salty,

Thank you.I believe NWPP will be a winner.

NWPP never took a cent of TARP money.

A/S is 50,000,000 shares
O/S is 22,877,854 shares

Even though moving slowly, the troubled assets for NWPP are moving in the right direction. There is no evidence of the bank having taken TARP money but I will call later today just to make sure.

The cap ratio for the bank is at a safe level, 9.69 as of this post.

6 Months Ended
Jun. 30, 2014

http://www.npbankshares.com/sec/nwpp-20140630-v01_Preview.html

Shares outstanding: 21,872,293
Shareholder equity: $40.233MM

Net Income for the first 6 mos: $ (157)

*I do not own shares of NWPP at this time.

Salty, I was wrong about earning NWPP earned .02 last quarter. .07 For the first 9 months.

NWPP is looking great!

NWPP earned .07 a share last quarter.

NWPP shares still on sale.Glad I was able to purchase more shares at a lower price.I believe the pps will move up after earnings are released.NWPP operates 25 branches.

NWPP shares on sell $1.00. NWPP earned over 2 million last quarter.Not sure of what effect holding company will have on profit.

NWPP nice profit last quarter... priced 200 more shares today at $1.50

NEW Peoples bank NWPP http://www2.fdic.gov/idasp/main.asp

FDIC Certificate number 34890

I think you did well. The book value for NWPP is at $1.84 at the moment and getting a stock under BV should be our objective with the majority of our buys.

Salty,now that I sold my TALN stock,I have more money to invest. I will be spreading some of my profit around in bank stocks.I purchased 200 shares of NWPP today for $1.50 a share.

NWPP "total Stockholders' Equity 40,302".

The market can put some strange prices on stocks at times and I think that goes double for this regional banking sector. We could both come up with dozens of banks that show a lousy quarterly report consistantly but have a higher pps than NWPP. I do think that time will remedy the situation.

Salty,I d not understand why NWPP share price is moving down instead of up.Especially,when some unprofitable banks stock prices are moving up.If NWPP share price drop to 1.40 I will add some more shares.That bank made .04 a share last quarter.

NEW PEOPLES BANKSHARES, INC.

CONSOLIDATED STATEMENTS OF INCOME (LOSS)

FOR THE THREE MONTHS ENDED JUNE 30, 2013 AND 2012

(IN THOUSANDS EXCEPT SHARE AND PER SHARE DATA)

(UNAUDITED)



2013 2012

INTEREST AND DIVIDEND INCOME


Loans including fees
$ 7,370 $ 8,047

Federal funds sold
— 1

Interest-earning deposits with banks
53 48

Investments
195 240

Dividends on equity securities (restricted)
36 29














Total Interest and Dividend Income
7,654 8,365















INTEREST EXPENSE


Deposits


Demand
19 28

Savings
48 58

Time deposits below $100,000
556 782

Time deposits above $100,000
397 525

FHLB Advances
62 150

Other borrowings
— 44

Trust Preferred Securities
117 125














Total Interest Expense
1,199 1,712















NET INTEREST INCOME
6,455 6,653


PROVISION FOR LOAN LOSSES
— 1,176















NET INTEREST INCOME AFTER


PROVISION FOR LOAN LOSSES
6,455 5,477















NONINTEREST INCOME


Service charges
565 642

Fees, commissions and other income
586 573

Insurance and investment fees
97 123

Net realized gains on sale of investment securities
— 265

Life insurance investment income
29 31














Total Noninterest Income
1,277 1,634















NONINTEREST EXPENSES


Salaries and employee benefits
3,211 3,509

Occupancy and equipment expense
1,027 1,085

Advertising and public relations
124 121

Data processing and telecommunications
465 450

FDIC insurance premiums
379 414

Other real estate owned and repossessed vehicles, net
255 1,273

Other operating expenses
1,360 1,400














Total Noninterest Expenses
6,821 8,252















INCOME (LOSS) BEFORE INCOME TAXES
911 (1,141 )


INCOME TAX EXPENSE (BENEFIT)
(34 ) 1,397















NET INCOME (LOSS)
$ 945 $ (2,538 )















Income (Loss) Per Share


Basic
$ 0.04 $ (0.25 )














Fully Diluted
$ 0.04 $ (0.25 )















Average Weighted Shares of Common Stock


Basic
21,871,063 10,010,178














Fully Diluted
21,871,063 10,010,178














The accompanying notes are an integral part of this statement.



3

Salty thank you, I purchased 200 shares this morning.I was not sure about the earnings.Because I thought I understood IDFB earnings on that site, but when IDFB posted their earnings on their site yesterday I learned I was wrong. Mother Lode last quarter earnings were updated this morning also. FDIC certificate number 57637.

I just took a quick peek at the report. A profit of almost 1.5 million looks pretty good to me.

Salty,NWPP earnings report was update on the following site this morning. http://www2.fdic.gov/idasp/main.asp NWPP FDIC number is 34890.Will you tell me what was that banks profit last quarter.

I hope NWPP does not move up to much more before reporting earnings.I hope we become aware of the earnings report time it hits the wires.

According to Scottrade, 51.7% of the NWPP shares are held by strategic entities.

New Peoples Bankshares, Inc. is a bank holding company of New Peoples Bank, Inc. (the Bank). The Bank provides general banking services to individuals, small and medium size businesses and the professional community of southwestern Virginia, southern West Virginia, and eastern Tennessee. The Bank operates 27 full-service offices in the southwestern Virginia counties of Russell, Scott, Washington, Tazewell, Buchanan, Dickenson, Wise, Lee, Smyth, and Bland; Mercer County in southern West Virginia and the eastern Tennessee counties of Sullivan and Washington. The Company accepts deposits, makes consumer and commercial loans, issues drafts, and provides other services offered by a commercial bank, such as business and personal checking and savings accounts, walk-up tellers, drive-in windows, and around-the-clock automated teller machines (ATMs).


http://www.npbankshares.com