New Peoples Bank, Inc.

Overview / Commentary
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 1,199th largest bank in the nation. It was established in 1998 and as of March of 2023, it had grown to 192 employees at 19 locations. New Peoples Bank, Inc.'s money market rates are 5X the national average, and it has a B+ health rating.

Reviews (4)

Carry On

Posted by: |

From the first time I walked into New Peoples Bank I saw there was a difference. There was a coffee pot set up to help yourself. People where so friendly. I always carry a pistol on my hip and so many "big" banks put a "No Gun" sign up on the door which shows they don't care about the safety or rights of their customers at all. Why else would anyone deny a law abiding citizen the right to defend themselves? New peoples Bank welcomed me with my firearm and I even have had many good discussions with staff there about how important it is to always carry a gun everywhere and at all times. Now many of the employee's have got their concealed carry permits and also choose to to protect themselves. They even smile when other customers see my gun and I stand there and encourage them to also carry into the bank. Great people, great service and some American common sense can all be found there.


I absolutely love New Peoples Bank. No charge checking and savings, rewards points, and the most friendly and help full employee's. What I like most is they do not force their customers into a unsafe zone. In other words they don't place those dangerous "no guns" signs on the door. I openly carry my weapon in there all the time and they are fully co-operative with recognizing the fact that it helps ensure safety for them and myself while we do business. There is always a hot cup of coffee and a warm and friendly smile for everyone who walks into the bank.

New peoples bank

Posted by: |

New peoples bank is a mostly local bank in the area I live in, it is a great bank to go to. They have free checking as well as great rates on loans. Since they are more localized it is easier to receive a more personal experience from the bank there. As I previously said, loans are something this bank is known for, they offer great rates and deals on certain loans, such as farm equipment. The employee's are always friendly, and know there members very well. My web/mobile experience isn't great with them, if you are looking for a internet based bank this one is not it. However for the free banking, great rates, and great customer service I would certainly say this bank gets a great rating from me!

Below Average

Posted by: |

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 Grade Components

FDIC Certificate #34890
Year Established1998
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.16%
Return on Equity - YTD12.31%
Annual Interest Income$8.5MM
Assets and Liabilities
AssetsQ1 2023vs Q1 2022$793.9MM$813.3MM
LoansQ1 2023vs Q1 2022$583.8MM$588.5MM
DepositsQ1 2023vs Q1 2022$710.0MM$732.4MM
Equity CapitalQ1 2023vs Q1 2022$75.3MM$73.8MM
Loan Loss AllowanceQ1 2023vs Q1 2022$6.7MM$6.8MM
Unbacked Noncurrent LoansQ1 2023vs Q1 2022$2.8MM$2.6MM
Real Estate OwnedQ1 2023vs Q1 2022$261.00K$796.00K
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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 cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

New Peoples Bank, Inc. Savings Account Rates

5.00%*-$5kKids Club Savings
OTHER TIERS: 0.25% $5k+
1.25%$25-Variable Rate Savings IRA
0.50%--Health Savings Account
0.25%--Statement Savings
0.25%--Christmas Club Auto Transfer
0.25%--Vacation Club
0.20%--Christmas Club Coupon Book

New Peoples Bank, Inc. Money Market Rates

2.00%*$50k*-Money Market Deposit Account
OTHER TIERS: 0.50% Any amount

New Peoples Bank, Inc. Checking Account Rates

3.00%*-$25kNew Freedom Choice Checking
OTHER TIERS: 0.25% $25k+
2.00%*-$25kChairman's Choice Checking
OTHER TIERS: 0.15% $25k+
0.07%--Community Plus Checking
0.05%--Peoples Checking
0.05%--New Freedom

New Peoples Bank, Inc. CD Rates

3.10%$500-12 Month Certificate
3.10%$500-15 Month Certificate
3.10%$500-18 Month Certificate
3.10%$500-24 Month Certificate
3.10%$500-30 Month Certificate
3.10%$500-36 Month Certificate
3.10%$500-48 Month Certificate
3.10%$500-60 Month Certificate
3.10%$500-15 Month Bump-Up Certificate
2.50%$500-7-31 Day Certificate
2.50%$500-32-181 Day Certificate
2.50%$500-6 Month Certificate

New Peoples Bank, Inc. IRA Rates

3.25%$500-12 Month IRA
3.25%$500-18 Month IRA
3.25%$500-24 Month IRA
3.25%$500-30 Month IRA
3.25%$500-36 Month IRA
3.25%$500-48 Month IRA
3.25%$500-60 Month IRA


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