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Overview / Commentary
200 First Street
Mullens, WV 25882

First Peoples Bank, Inc. is headquartered in Mullens and is the 43rd largest bank in the state of West Virginia. It is also the 4,162nd largest bank in the nation. It was established in 1926 and as of March of 2014, it had grown to 20 employees at 3 locations. First Peoples Bank, Inc. has a A+ health rating.

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Health

Data for Q1 2014

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 First Peoples Bank, Inc. had $26,000 in non-current loans and owned real-estate with $19.1 million in equity and loan loss allowances on hand to cover it. This gives First Peoples Bank, Inc. a Texas Ratio of 0.14% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for First Peoples Bank, Inc. decreased dramatically from 0.44% as of March 31, 2013 to 0.14% as of March 31, 2014, resulting in a positive change of 68.91%.This indicates that the balance sheet and financial strength for First Peoples Bank, Inc. has improved dramatically in recent periods.

Deposit Growth

GRADE:
B+

In the past year, First Peoples Bank, Inc. has increased its total deposits by $1.48 million, resulting in 1.41% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth First Peoples Bank, Inc. has shown is above average.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. First Peoples Bank, Inc. has $125.51 million in assets with $19.1 million in equity, resulting in a capitalization level of 15.22%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #6173
Year Established1926
Employees20
Primary RegulatorFED
Assets and Liabilities
Assets$125.51 million
Loans$35.84 million
Deposits$106.66 million
Equity Capital$18.74 million
Loan Loss Allowance$361,000
Unbacked Noncurrent Loans$26,000
Real Estate Owned$0
Historic Data - March 2013
Assets$124.58 million
Equity Capital$19.05 million
Loan Loss Allowance$365,000
Unbacked Noncurrent Loans$26,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.93%
Return on Assets0.37%
Return on Equity2.47%
Interest Income$662,000
Rates

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Locations


First Peoples Bank, Inc. Locations
Macarthur Branch123 Bethel RdMac Arthur, WV 25873
First Peoples Bank, Inc.200 First StreetMullens, WV 25882
Pineville BranchWilliamson AvenuePineville, WV 24874