New Peoples Bank, Inc.

Headquarters

53 Commerce Drive
Honaker, VA 24260
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.05% →
1-Year CD 0.30% 1.05% →
2-Year CD 0.75% 1.11% →
5-Year CD 0.75% 1.56% →
30-Year Mortgage N.A. 2.88% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

New Peoples Bank, Inc. is an FDIC insured institution located in Honaker, VA. It was founded in 1998 and has approximately $0.71 billion in assets. Customers can open an account at one of its 23 branches.

FDIC Insured Yes
FDIC Certificate # 34890
Date Established 1998
Assets $ 713.72 million
Loans $ 554.62 million
Deposits $ 630.12 million
Capital $ 70.03 million
 

For a more detailed analysis of New Peoples Bank, Inc.'s financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - August 14, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.15% $2,500 $2,999 Learn More
Money Market
0.20% $10,000 $14,999 Learn More
Money Market
0.20% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.05% $10,000 $14,999 Learn More
3 Mo CD
0.05% $100,000 $199,999 Learn More
6 Mo CD
0.20% $10,000 $14,999 Learn More
6 Mo CD
0.20% $100,000 $199,999 Learn More
12 Mo CD
0.30% $10,000 $14,999 Learn More
12 Mo CD
0.30% $100,000 $199,999 Learn More
18 Mo CD
0.40% $10,000 $14,999 Learn More
18 Mo CD
0.50% $100,000 $199,999 Learn More
24 Mo CD
0.75% $10,000 $14,999 Learn More
24 Mo CD
0.75% $100,000 $199,999 Learn More
30 Mo CD
0.80% $10,000 $14,999 Learn More
30 Mo CD
0.80% $100,000 $199,999 Learn More
36 Mo CD
0.90% $10,000 $14,999 Learn More
36 Mo CD
0.90% $100,000 $199,999 Learn More
48 Mo CD
0.70% $10,000 $14,999 Learn More
48 Mo CD
0.70% $100,000 $199,999 Learn More
60 Mo CD
0.75% $10,000 $14,999 Learn More
60 Mo CD
0.75% $100,000 $199,999 Learn More

Checking Rates APY MIN FEE
New Freedom Choice Checking 0.75% $0 $0.00 Learn MoreShow Less

Loan Rates - August 14, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for New Peoples Bank, Inc.

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Virginia 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.914% 2.875% 0.50 $1,250 $1,038 Learn More
Rocket Mortgage
NMLS ID: 3030
3.494% 3.375% 1.00 $3,750 $1,106 Learn More
1Rate, Inc
NMLS ID: 1948084
License#: MC-7051
2.812% 2.750% 0.75 $2,038 $1,021 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
2.990 %
$0 Learn More
More Info
Bethpage Federal Credit Union
Bethpage Federal Credit Union
3.500 %
$25,000 Learn More
More Info

Note to New Peoples Bank, Inc.
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Branches

New Peoples Bank, Inc. branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


New Peoples Bank, Inc. Locations


Financial Details

New Peoples Bank, Inc. Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of New Peoples Bank, Inc.. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
New Peoples Bank, Inc. U.S. Bank Average
13.02% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, New Peoples Bank, Inc. had $6,874,000 in non-current loans and $3,070,000 in owned real estate. To cover these potential losses it had $70,027,000 in equity and $6,337,000 in loans loss reserves. That gives it a Texas Ratio of 13.02%.

Return on Equity
New Peoples Bank, Inc. U.S. Bank Average
1.18% 7.80%

New Peoples Bank, Inc. has a Return on Equity of 1.18% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
New Peoples Bank, Inc. U.S. Bank Average
9.81% 12.68%

New Peoples Bank, Inc. has a Capitalization of 9.81% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

New Peoples Bank, Inc. Balance Sheet Analysis

As of March 31, 2020, New Peoples Bank, Inc. had assets of $713,717,000, loans of $554,621,000, and deposits of $630,124,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 63.38 million
Interest-bearing balances $ 47.62 million
Total securities $ 47.74 million
Federal funds sold and reverse repurchase $ 0.29 million
Net loans and leases $ 554.62 million
Loan loss allowance $ 6.34 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 3.07 million
Goodwill and other intangibles N.A.
All other assets $ 22.04 million
     Total Assets $ 643.69 million
LIABILITIES
Total deposits $ 630.12 million
      Interest-bearing deposits $ 444.63 million
      Deposits held in domestic offices $ 630.12 million
      % insured (estimated) 89.10%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 5.00 million
Subordinated debt N.A.
All other liabilities $ 8.57 million
      Total Liabilities $ 643.69 million
      Shareholders’ Equity $ 70.03 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 7.62 million
Total Interest Expense $ 1.28 million
Net interest income $ 6.34 million
Provision for loan and lease losses $ 1.00 million
Total non interest income $ 2.21 million
Total non interest expense $ 7.30 million
Pre-tax Net Operating Income $ 0.25 million

Bank Loan Profile?

The top three loan types in New Peoples Bank, Inc.’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Small Business Loans.

Compared to other banks in Virginia, New Peoples Bank, Inc. has a significantly higher percent of Small Business Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 43.42
Multifamily
Mortgages
2.53
Credit Card Loans 0.14
Consumer Auto Loans 0.89
Small Business Loans 16.53
Construction and Development Loans 5.56
Commercial Real Estate 30.95
Commercial and Industrial Loans 9.66
Farm Loans 0.94

Frequently Asked Questions About New Peoples Bank, Inc.

Branches and Savings

Is New Peoples Bank, Inc. FDIC insured?

Yes. It is covered under FDIC Certificate #34890.

Why does New Peoples Bank, Inc. pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are New Peoples Bank, Inc. CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is New Peoples Bank, Inc. a commercial bank?

Yes

Where are New Peoples Bank, Inc. locations?

See branch locations nearby.

Is New Peoples Bank, Inc. open on Saturdays?

Is New Peoples Bank, Inc. open on Sundays?

What time does New Peoples Bank, Inc. open?

What time does New Peoples Bank, Inc. close?

Are New Peoples Bank, Inc. ATMs Open 24/7?

Do New Peoples Bank, Inc. ATMs accept cash deposits?

Can New Peoples Bank, Inc. customers use other ATMs?

Do New Peoples Bank, Inc. branches have notaries?

Will New Peoples Bank, Inc. notarize my document?

What address for New Peoples Bank, Inc. should I put for incoming ACH transfers?

Will the New Peoples Bank, Inc. branch print checks?

Do New Peoples Bank, Inc. checks expire?

Does New Peoples Bank, Inc. require US citizenship to open account?

Can New Peoples Bank, Inc. close my account?

Does New Peoples Bank, Inc. Report to credit bureaus?

Does New Peoples Bank, Inc. Use Equifax?

What is New Peoples Bank, Inc.'s ACH Routing Number?

What is New Peoples Bank, Inc.'s SWIFT code?

Products

Does New Peoples Bank, Inc. offer mortgages?

Compare mortgage rates here.

Does New Peoples Bank, Inc. offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does New Peoples Bank, Inc. offer personal loans?

Compare personal loan rates here.

Does New Peoples Bank, Inc. offer student loans?

Will New Peoples Bank, Inc. cash a check?

Will New Peoples Bank, Inc. redeem a savings bond?

Does New Peoples Bank, Inc. cash savings bonds?

Will New Peoples Bank, Inc. cash money orders?

Can New Peoples Bank, Inc. issue a money order?

Does New Peoples Bank, Inc. do currency exchange?

Background on The Bank

Who owns New Peoples Bank, Inc.?

How long has New Peoples Bank, Inc. been around?

Can New Peoples Bank, Inc. transfer to other banks?

Does New Peoples Bank, Inc. have quick pay?

Does New Peoples Bank, Inc. accept rolled coins?

Will New Peoples Bank, Inc. accept loose change?

Where is New Peoples Bank, Inc. headquarters?

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