Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts
Overview / Commentary
276-873-6288
53 Commerce Drive
Honaker, VA 24260

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.

Reviews (1)

Below Average

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 .  

 



Health

Data for Q4 2013

Institution Health

C

Texas Ratio

GRADE:
C-

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.

Texas Ratio Trend

GRADE:
C+

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.

Deposit Growth

GRADE:
D

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.

Capitalization

GRADE:
B

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.

Institution Statistics

Overall
FDIC Certificate #34890
Year Established1998
Employees264
Primary RegulatorFED
Assets and Liabilities
Assets$684.55 million
Loans$479.94 million
Deposits$623.91 million
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
Assets$719.66 million
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 Margin4.22%
Return on Assets0.31%
Return on Equity3.98%
Interest Income$30.08 million
Rates

Always verify rates and promotions with the bank or credit union. We are not New Peoples Bank, Inc., we are a rate comparison website and can not provide official rates or promotions.

New Peoples Bank, Inc. Savings Account Rates

DetailsAPYMINMAXPRODUCT
5.00%-$500Kids 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%--Statement Savings
0.10%--Christmas Club Coupon Book

New Peoples Bank, Inc. Money Market Rates

DetailsAPYMINMAXPRODUCT
0.24%$100k-Premium Money Market Account
0.15%--Money Market Deposit Account

New Peoples Bank, Inc. Checking Account Rates

DetailsAPYMINMAXPRODUCT
1.01%-$25kNew Freedom Choice Checking
0.10%--Peoples Checking
0.10%--New Freedom
0.10%--IOLTA-TN
0.10%--IOLTA-VA
0.10%--IOLTA-WV
0.10%$1k-New Freedom Choice Checking
0.10%--Community Checking

New Peoples Bank, Inc. CD Rates

DetailsAPYMINMAXPRODUCT
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

New Peoples Bank, Inc. IRA Rates

DetailsAPYMINMAXPRODUCT
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)
Locations

New Peoples Bank, Inc. has 25 locations. Click to view all New Peoples Bank, Inc. locations.