New Peoples Bankshares
New Peoples Bankshares, Inc. (OTC: NWPP) is the holding company for New Peoples Bank, Inc., a Virginia community bank headquartered in Honaker, Russell County, serving the financial needs of individuals, families, farms, and businesses across the coalfield communities and rural communities of southwestern Virginia and northeastern Tennessee. According to its website at newpeoplesbank.com, New Peoples Bank was founded in 1998 with the mission of providing the southwestern Virginia coalfield region with locally owned and operated community banking services that respond to the unique needs of this historically underserved Appalachian region. With branches across Russell, Buchanan, Dickenson, Tazewell, and Washington counties in Virginia, and Hawkins County in Tennessee, the bank serves a multi-county footprint in one of the more economically challenged regions of the Appalachian coalfield.
New Peoples Bank's service offerings, described at newpeoplesbank.com, encompass personal banking products including checking and savings accounts, certificates of deposit, individual retirement accounts, residential mortgage lending, home equity loans, and consumer installment lending; agricultural and farm lending for the region's farming community; and business banking services including commercial real estate loans, business operating lines of credit, SBA lending, and other commercial financing solutions for the small businesses and agricultural operations that form the economic foundation of the communities the bank serves. New Peoples Bank's SBA lending capabilities enable it to provide government-guaranteed financing to small businesses in its service area, supporting economic development and business formation in communities where conventional financing can be more difficult to access.
New Peoples Bankshares is publicly traded on the OTC markets, providing investors with access to a southwestern Virginia community bank serving Appalachian coalfield communities that have experienced significant economic transition from coal industry decline. According to newpeoplesbank.com, the bank's leadership is deeply rooted in the communities it serves, with a board and management team reflecting the civic and business leadership of Russell County and neighboring communities. New Peoples Bankshares' combination of Appalachian coalfield community banking mission, southwestern Virginia and northeastern Tennessee market focus, SBA lending capabilities, and commitment to serving historically underserved communities reflects its identity as a community-development-minded financial institution serving an economically important but underserved regional market.