Filing Analysis
New Peoples Bankshares, Inc. filed an 8-K to announce its quarterly earnings results for the period ending June 30, 2026. The filing serves as a formal announcement of the company's financial performance via a press release.
📋 Key Facts
- Earnings report issued for the quarter and six months ended June 30, 2026.
- Report date: July 30, 2026.
- The filing includes Exhibit 99.1 containing the earnings press release.
New Peoples Bankshares, Inc. filed an 8-K to announce its earnings results for the third quarter and fiscal year ending September 30, 2025.
📋 Key Facts
- Earnings release date: October 28, 2025
- Reporting period: Quarter and Year ended September 30, 2025
- The filing includes a press release as Exhibit 99.1 detailing financial results.
Barton Scot Long has resigned from the Board of Directors of New Peoples Bankshares, Inc. and its subsidiary, New Peoples Bank, Inc., effective July 31, 2025. The resignation is intended to allow him to focus on personal business interests and does not involve any disagreements with the company.
🚩 Red Flags
- None identified; departure is categorized as non-dispute related.
📋 Key Facts
- Barton Scot Long resigned from the Board of Directors effective July 31, 2025.
- Resignation applies to both the parent Company (New Peoples Bankshares, Inc.) and its subsidiary (New Peoples Bank, Inc.).
- Mr. Long served on the Compensation and Nominating Committees of the Company and the Board Loan Committee of the Bank.
- The resignation was prompted by a desire to focus on personal business interests.
- The filing explicitly states the resignation is not due to any disagreement regarding company operations, policies, or practices.
New Peoples Bankshares, Inc. filed an 8-K to announce its earnings results for the second quarter and fiscal year ended June 30, 2025.
📋 Key Facts
- Report date: July 31, 2025
- Reporting period: Quarter and Year ending June 30, 2025
- The filing includes a press release (Exhibit 99.1) announcing earnings results.
New Peoples Bankshares, Inc. entered into a new three-year employment agreement with James W. Kiser, who will continue as President and CEO. The filing effectively terminates his previous 2019 employment agreement to implement the new terms.
🚩 Red Flags
- The agreement includes significant severance multipliers (up to 3x) in the event of a Change in Control, which can be viewed as a potential incentive for management to pursue a sale.
📋 Key Facts
- James W. Kiser remains President and Chief Executive Officer of New Peoples Bankshares, Inc. and its subsidiary, New Peoples Bank, Inc.
- The new agreement has a three-year term expiring June 25, 2028, with automatic two-year renewals thereafter.
- Base salary is set at $320,000 per year, subject to upward adjustment starting in the second year.
- Includes a 'Change in Control' provision that extends the term until the second anniversary of a change in control occurring after June 26, 2026.
- Severance terms include a lump sum payment equal to two times base salary plus annual bonus if terminated without cause or for good reason.
New Peoples Bankshares, Inc. held its 2025 Annual Shareholders’ Meeting on May 20, 2025. The meeting resulted in the election of three directors and the ratification of the company's independent auditor.
📋 Key Facts
- Annual Meeting held on May 20, 2025.
- Total shares entitled to vote: 23,615,747 (as of March 26, 2025 record date).
- Shares present at meeting: 16,062,749.
- Elected Tim W. Ball, Michael G. McGlothlin, and B. Scott White to the Board of Directors for terms expiring in 2028.
- Ratified Yount, Hyde & Barbour P.C. as independent registered public accounting firm for fiscal year ending Dec 31, 2025.
New Peoples Bankshares, Inc. held its 2025 Annual Shareholders' Meeting on May 20, 2025. The meeting resulted in the election of three directors and the ratification of the company's independent auditor.
📋 Key Facts
- Annual Meeting held on May 20, 2025.
- Total shares entitled to vote: 23,615,747 (as of March 26, 2025 record date).
- Shares present at meeting: 16,062,749.
- Elected Tim W. Ball, Michael G. McGlothlin, and B. Scott White to three-year terms expiring in 2028.
- Ratified Yount, Hyde & Barbour P.C. as independent registered public accounting firm for the year ending December 31, 2025.
New Peoples Bankshares, Inc. filed an 8-K to announce its earnings results for the first quarter and full year ending March 31, 2025.
📋 Key Facts
- Earnings announcement date: April 25, 2025
- Reporting period: Quarter and Year ended March 31, 2025
- The filing includes a press release as Exhibit 99.1 containing the financial results.
New Peoples Bankshares, Inc. announced the upcoming departure of director C. Todd Asbury at the May 20, 2025 Annual Meeting and declared a cash dividend of $0.08 per share.
🚩 Red Flags
- None identified; the filing explicitly states the director's departure does not relate to any disagreement regarding company operations, policies, or practices.
📋 Key Facts
- Director C. Todd Asbury will not stand for reelection and is stepping down effective with the Annual Meeting on May 20, 2025.
- The Board declared a dividend payment of $0.08 per share of common stock.
- Dividend record date: March 17, 2025; Dividend payable date: March 31, 2025.
New Peoples Bankshares, Inc. filed an 8-K to announce its earnings results for the fourth quarter and full year ended December 31, 2024.
📋 Key Facts
- Earnings announcement date: January 31, 2025
- Reporting period covered: Quarter and Year ending December 31, 2024
- The filing includes a press release as Exhibit 99.1 containing the financial results.
New Peoples Bankshares, Inc. filed an 8-K to announce its earnings results for the third quarter and fiscal year ending September 30, 2024.
📋 Key Facts
- Earnings release date: October 30, 2024
- Reporting period: Quarter and year ended September 30, 2024
- The filing includes a press release (Exhibit 99.1) detailing the financial results.
New Peoples Bankshares, Inc. filed an 8-K to announce its earnings results for the second quarter and full year ended June 30, 2024.
📋 Key Facts
- The filing was made on July 29, 2024.
- The report covers financial results for the quarter and year ending June 30, 2024.
- An earnings press release was issued as Exhibit 99.1.
New Peoples Bankshares, Inc. held its 2024 Annual Shareholders' Meeting on May 21, 2024. The meeting resulted in the election of five directors and the approval of executive compensation and auditor ratification.
📋 Key Facts
- Annual Meeting held on May 21, 2024.
- Total shares entitled to vote: 23,730,860; Shares present (in person or proxy): 14,856,211.
- Elected four directors for three-year terms expiring in 2027: Joe M. Carter, Harold Lynn Keene, J. Robert Buchanan, and Barton S. Long.
- Elected one director for a two-year term expiring in 2026: James W. Kiser.
- Approved non-binding advisory resolution on executive compensation (9,383,026 FOR).
- Ratified the appointment of Yount, Hyde & Barbour P.C. as independent registered public accounting firm for FY ending Dec 31, 2024.
New Peoples Bankshares, Inc. filed an 8-K to announce its earnings results for the first quarter and fiscal year ending March 31, 2024.
📋 Key Facts
- Earnings release date: April 30, 2024
- Reporting period covered: Quarter and Year ended March 31, 2024
- The filing includes a press release as Exhibit 99.1 detailing financial performance.
New Peoples Bankshares, Inc. announced a leadership transition where CEO C. Todd Asbury will step down on March 31, 2024, to be succeeded by James W. Kiser. The company also declared a $0.07 per share dividend and authorized the continuation of its share repurchase program.
🚩 Red Flags
- CEO transition in a micro-cap/small bank holding company can introduce operational uncertainty.
- The departure involves the top executive (President and CEO) of both the holding company and the bank.
📋 Key Facts
- C. Todd Asbury (President/CEO) stepping down effective March 31, 2024.
- James W. Kiser (current Bank President/CEO) to assume Company CEO duties on March 31, 2024.
- Asbury to serve as Senior Advisor through May 31, 2025, and remain on the Board until the 2025 annual meeting.
- Board declared a dividend of $0.07 per share, payable March 29, 2024 (record date: March 15, 2024).
- Board authorized continuation of repurchase of up to 500,000 shares through March 31, 2025.
New Peoples Bankshares, Inc. filed an 8-K to announce its earnings results for the fourth quarter and full year ended December 31, 2023.
📋 Key Facts
- Report date: January 30, 2024
- Reporting period: Quarter and Year ending December 31, 2023
- The filing includes a press release (Exhibit 99.1) announcing earnings results.
New Peoples Bankshares, Inc. announced the appointment of two new directors to its Board: Barton Scot Long and James W. Kiser. Mr. Kiser, who is also the current CEO of the Bank, will serve on both the Company and subsidiary boards.
📋 Key Facts
- Barton Scot Long appointed as director effective January 19, 2024; term extends to the 2024 annual meeting.
- James W. Kiser appointed as director of the Company and New Peoples Bank, Inc. effective upon regulatory notification.
- James W. Kiser is currently the President and CEO of the Bank (assumed role Dec 1, 2023).
- Mr. Long's appointment follows his previous service on the Bank's board since May 2023.