New Peoples Bank, Inc. is headquartered in Honaker and is the 31st largest bank in the state of Virginia. It is also the 980th largest bank in the nation. It was established in 1998 and as of December of 2013, it had grown to 264 employees at 25 locations. New Peoples Bank, Inc.'s savings rates are 10X the national average, but it has a C health rating.
New people's Bank lacks a powerful staff, web-connection, and national factors. The banks tellers and loan officers often times lack general banking and financial knowledge necessary for their positions. Furthermore their employees seem invasive rather than attentive. The bank is trusted as a local bank for the SouthWest Virginia region and should not be a bank of choice in the case that you plan to travel. The banks online format lacks a smooth system as well as simplicity. Often times when prompted to login with the access code and password it would not work (when using the correct sign-in credentials). Afterwhich the site propts you to report your password forgotten and proceeds to send an e-mail to the account registered with your banking account. However, even when an email is infact set up with the account it will inform you otherwise and recommend contacting a representative due to your account being dormant...Even when using it twice within one day... This has happenned on several occasions with the blame being directed towards "multiple failed logins due to improper sign on credentials." There is no mobility with the bank and their representatives are seemingly lacking in professionalism and training. I recommend going wit a bank such as BB&T. Possibly even Bank of America over New Peoples =O .
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 New Peoples Bank, Inc. had $44.16 million in non-current loans and owned real-estate with $67.02 million in equity and loan loss allowances on hand to cover it. This gives New Peoples Bank, Inc. a Texas Ratio of 65.89% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for New Peoples Bank, Inc. experienced no significant changes from 68.53% as of December 31, 2012 to 65.89% as of December 31, 2013, resulting in a positive change of 3.85%.This indicates that the balance sheet and financial strength for New Peoples Bank, Inc. has had no significant changes in recent periods.
In the past year, New Peoples Bank, Inc. has decreased its total deposits by -$34.15 million, resulting in -5.19% 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 New Peoples Bank, Inc. has shown is below average.
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. New Peoples Bank, Inc. has $684.55 million in assets with $67.02 million in equity, resulting in a capitalization level of 9.79%, which is above average.
|FDIC Certificate #||34890|
|Assets and Liabilities|
|Equity Capital||$53.94 million|
|Loan Loss Allowance||$13.08 million|
|Unbacked Noncurrent Loans||$28.31 million|
|Real Estate Owned||$15.85 million|
|Historic Data - December 2012|
|Equity Capital||$53.17 million|
|Loan Loss Allowance||$16.81 million|
|Unbacked Noncurrent Loans||$28.31 million|
|Real Estate Owned||$13.87 million|
|Profit Margin - Quarterly|
|Net Interest Margin||4.22%|
|Return on Assets||0.31%|
|Return on Equity||3.98%|
|Interest Income||$30.08 million|
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|5.00%||-||$500||Kids Club Savings|
|0.35%||-||-||Christmas Club Auto Transfer|
|0.25%||-||-||Health Savings Account|
|0.15%||$500||-||Variable Rate Savings IRA|
|0.15%||$500||-||Variable Rate Savings Roth IRA|
|0.10%||-||-||Christmas Club Coupon Book|
|0.24%||$100k||-||Premium Money Market Account|
|0.15%||-||-||Money Market Deposit Account|
|1.01%||-||$25k||New Freedom Choice Checking|
|0.10%||$1k||-||New Freedom Choice Checking|
|0.85%||$500||-||60 Month Certificate|
|0.75%||$500||-||48 Month Certificate|
|0.55%||$500||-||36 Month Certificate|
|0.50%||$500||-||30 Month Certificate|
|0.35%||$500||-||18 Month Certificate|
|0.35%||$500||-||24 Month Certificate|
|0.35%||$500||-||15 Month Bump-Up Certificate|
|0.30%||$500||-||15 Month Certificate|
|0.25%||$500||-||12 Month Certificate|
|0.20%||$500||-||6 Month Certificate|
|0.15%||$500||-||7-31 Day Certificate|
|0.15%||$500||-||32 - 181 Day Certificate|
|0.95%||$500||-||60 Month IRA (Traditional,Roth)|
|0.85%||$500||-||48 Month IRA (Traditional,Roth)|
|0.65%||$500||-||36 Month IRA (Traditional,Roth)|
|0.60%||$500||-||30 Month IRA (Traditional,Roth)|
|0.45%||$500||-||24 Month IRA (Traditional,Roth)|
|0.35%||$500||-||18 Month IRA (Traditional,Roth)|
|0.30%||$500||-||12 Month IRA (Traditional,Roth)|