Average User Rating:
2 star rating based on 1 review.

New Peoples Bank, Inc.

2 Gent Drive
Honaker, VA 24260
(276) 873-6288
www.newpeoplesbank.com

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New Peoples Bank, Inc. is headquartered in Honaker and is the 29^th largest bank in the state of Virginia. It is also the 859^th largest bank in the nation. It was established in 1998 and as of March of 2012, it had grown to 295 employees at 28 locations. New Peoples Bank, Inc.'s savings rates are 44% higher than the national average, but it has a 1-star health rating.

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See Rates for: Checking | Savings | Money Market | CD | IRA

New Peoples Bank, Inc. Checking Account Rates

Apy	Min	Max	Product
2.00%	-	$25k	New Freedom Choice Checking
0.15%	-	-	Peoples Checking
0.15%	-	-	New Freedom
0.15%	-	-	New Freedom 50+
0.15%	-	-	IOLTA-TN
0.15%	-	-	IOLTA-VA
0.15%	-	-	IOLTA-WV
0.15%	-	-	Community Checking

New Peoples Bank, Inc. Savings Account Rates

Apy	Min	Max	Product
5.00%	-	$500	Kids Club Savings
0.75%	-	-	Christmas Club Auto Transfer
0.50%	-	-	Christmas Club Coupon Book
0.50%	-	-	Health Savings Account
0.50%	$500	-	Variable Rate Savings IRA
0.50%	$500	-	Variable Rate Savings Roth IRA
0.15%	-	-	Statement Savings

New Peoples Bank, Inc. Money Market Rates

Apy	Min	Max	Product
0.33%	$250k	-	Premium Money Market Account
0.25%	-	-	Money Market Deposit Account

New Peoples Bank, Inc. CD Rates

Apy	Min	Max	Product
1.00%	$500	-	60 Month Certificate
0.90%	$500	-	48 Month Certificate
0.75%	$500	-	30 Month Certificate
0.75%	$500	-	36 Month Certificate
0.60%	$500	-	18 Month Certificate
0.60%	$500	-	24 Month Certificate
0.50%	$500	-	15 Month Certificate
0.50%	$500	-	15 Month Bump-Up Certificate
0.35%	$500	-	12 Month Certificate
0.25%	$500	-	6 Month Certificate
0.15%	$500	-	7-31 Day Certificate
0.15%	$500	-	32 - 181 Day Certificate

New Peoples Bank, Inc. IRA Rates

Apy	Min	Max	Product
1.26%	$500	-	60 Month IRA
1.26%	$500	-	60 Month Roth IRA
1.16%	$500	-	48 Month IRA
1.16%	$500	-	48 Month Roth IRA
1.00%	$500	-	30 Month IRA
1.00%	$500	-	36 Month IRA
1.00%	$500	-	30 Month Roth IRA
1.00%	$500	-	36 Month Roth IRA
0.85%	$500	-	18 Month IRA
0.85%	$500	-	24 Month IRA
0.85%	$500	-	18 Month Roth IRA
0.85%	$500	-	24 Month Roth IRA
0.60%	$500	-	12 Month IRA
0.60%	$500	-	12 Month Roth IRA

Rates updated: 5/27/2012

Data for Q1 2012

Institution Statistics

New Peoples Bank, Inc.
FDIC Certificate #	34890
BankRate Report	View
Year Established	1998
Employees	295
Primary Regulator	FED
Assets and Liabilities
Assets	$769.21 million
Loans	$555.72 million
Deposits	$699.95 million
Equity Capital	$49.30 million
Loan Loss Allowance	$18.03 million
Unbacked Noncurrent Loans	$46.03 million
Real Estate Owned	$15.01 million
Historic Data - March 2011
Assets	$864.46 million
Equity Capital	$59.67 million
Loan Loss Allowance	$19.66 million
Unbacked Noncurrent Loans	$43.02 million
Real Estate Owned	$13.55 million
Profit Margin - Quarterly
Net Interest Margin	4.31%
Return on Assets	-1.23%
Return on Equity	-18.89%
Interest Income	$9.02 million

Institution Health

Overall Score:

1 out of 5

Texas Ratio
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 March 31, 2012 New Peoples Bank, Inc. had $61.04 million in non-current loans and owned real-estate with $67.33 million in equity and loan loss allowances on hand to cover it. This gives New Peoples Bank, Inc. a Texas Ratio of 90.65% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for New Peoples Bank, Inc. increased slightly from 71.31% as of March 31, 2011 to 90.65% as of March 31, 2012, resulting in a negative change of 27.12%. This indicates that the balance sheet and financial strength for New Peoples Bank, Inc. has declined slightly in recent periods.
Deposit Growth
In the past year, New Peoples Bank, Inc. has decreased its total deposits by -$83.34 million, resulting in -10.64% 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 poor.
Capitalization
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 $769.21 million in assets with $67.33 million in equity, resulting in a capitalization level of 8.75%, which is average.

Below Average
2 stars

- cdr2021 - Thursday, February 9, 2012 - 7:59 PM

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 .