New Peoples Bank

What New Peoples Bank does

New Peoples Bank, Inc. is a Virginia-incorporated, FDIC-insured community bank headquartered in Honaker, Virginia, operating as a wholly-owned subsidiary of New Peoples Bankshares, Inc., which trades publicly on the OTC market under ticker NWPP (CIK: 1163389). Founded in 2000 and operating for approximately 25 years, the bank employs nearly 200 team members and serves retail consumers, small-to-mid-size businesses, agricultural operations, and wealth management clients through 17 full-service branches plus a loan production office across Southwest Virginia, East Tennessee, Southern West Virginia, and Western North Carolina.

The bank operates a traditional community-bank product set: deposit products (Peoples Checking, Peoples Plus, Peoples Premier tiered up to 2.70% APY, savings, money market, CDs, IRAs); lending products (mortgage, HELOC, personal loans, commercial loans, agricultural lending); and fee-based services (treasury management, merchant services, wealth management through New Peoples Financial Services via Osaic Institutions). Digital channels consist of native iOS and Android mobile apps, an online banking portal with Bill Pay, eStatements, NPB Alerts, Mobile Deposit, mobile wallet support (Apple Pay, Google Pay, Samsung Pay), and Credit Pulse (VantageScore 3.0) credit monitoring integrated into the digital experience. Operational infrastructure relies on third-party partners including Allpoint for 50,000+ surcharge-free ATMs, Visa for debit card issuance, and MeridianLink for online account opening.

The revenue model is a standard commercial bank mix: net interest income from the loan portfolio (personal, mortgage, HELOC, commercial, agricultural) net of interest paid on deposits, plus non-interest income from account fees, ATM/wire/overdraft charges, merchant services, treasury management, credit card interchange, and recurring advisory fees from wealth management. Distribution is branch-led with a digital overlay; marketing emphasizes community involvement, local decision-making, and personalized service as differentiators versus large national banks. Recent strategic moves include the 2024 opening of a Wytheville, Virginia loan production office, regional leadership restructuring (Mori Williams to Southern Market, KD Flanigan Coleman to Northern Market), the 2026 hire of senior agricultural banker Carol Robinson, and an extended share repurchase program through March 31, 2027.

Name

New Peoples Bank

Legal name

New Peoples Bank, Inc.

Website

https://newpeoples.bank

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

251–500 employees

Short description

New Peoples Bank is a Virginia-based community bank with 17 branches across Virginia, West Virginia, Tennessee, and North Carolina, offering retail, business, agricultural, and wealth management banking services to individuals, small businesses, and farms.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

National Commercial Banks (6021), State Commercial Banks (6022)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

Keywords

• Community banking services
• Retail deposit products
• Commercial lending
• Agricultural lending
• Wealth management

Headquarters

HQ city

Honaker

HQ country

United States

HQ region

North America

Offices19 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Infrastructure, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Net Interest Income: Interest earned on loan portfolio including personal loans, mortgage loans, home equity lines of credit, commercial loans, and agricultural loans. Interest paid on deposits including checking, savings, money market, CDs, and IRAs.
2. Non-Interest Income: Fee income from deposit account maintenance, ATM usage, wire transfers, overdraft fees, and account services. Also includes merchant services revenue, treasury management fees, and credit card interchange fees.
3. Wealth Management Services: Financial advisory services including retirement planning, college savings planning, and investment management through New Peoples Financial Services, generating advisory fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

New Peoples Bank is a community bank that provides personal and business deposit products (checking, savings, money market, CDs, IRAs), lending products (mortgage, HELOC, personal, commercial, and agricultural loans), digital banking (online and mobile), wealth management through New Peoples Financial, and treasury management and merchant services for businesses. It operates through 17 full-service branches plus a loan production office across Southwest Virginia, East Tennessee, Southern West Virginia, and Western North Carolina.

Product overview

New Peoples Bank is a full-service community bank offering a comprehensive suite of retail and commercial banking products. The core banking platform centers on deposit products (checking, savings, CDs/IRAs) and lending products (mortgage, HELOC, personal loans, commercial loans, agricultural lending) across personal, business, and wealth management segments. Digital banking is delivered through Online & Mobile Banking with companion services including Bill Pay, Mobile Deposit, eStatements, NPB Alerts, and Credit Monitoring. Additional offerings include Treasury Management, Merchant Services, Safe Deposit Boxes, GenGold identity theft protection, and a Financial Calculators suite. The bank operates 18 branches across Virginia, Tennessee, West Virginia, and North Carolina, with branches organized into five regional markets (Northern, Southern, Central, High Country, and Wytheville).

Differentiator

Problem solved

Functional benefit

Brands

• New Peoples Financial: Wealth management services including retirement planning, college savings, and financial advisory services.

Products and services

• Peoples Checking Basic personal checking account with no monthly fees or minimum balance requirements, free Visa debit card, online and mobile banking access, NPB Alerts, free eStatements, and telephone banking.
• Peoples Plus Checking Interest-earning checking account requiring $1,000 minimum daily balance to earn interest and avoid a $5 monthly fee; includes free or discounted GenGold identity theft protection.
• Peoples Premier Checking Premium tier checking account offering 2.70% APY on balances up to $25,000, with fee waiver options at $1,000 average balance or $25,000 combined loan/deposit relationship; includes GenGold Ultimate benefits.
• Savings and Money Market Accounts Deposit accounts designed to help personal and business customers earn interest on funds while maintaining access to money.
• Certificates of Deposit (CDs) and IRAs Long-term savings products offering fixed interest rates including Individual Retirement Accounts for retirement savings.
• Mortgage Loans Home mortgage financing for purchase, construction, update, and refinance with fast local decisions and personalized service.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity providing flexible access to funds for home improvements, education, debt consolidation, or unexpected costs.
• Personal Loans Unsecured personal loans for debt consolidation, major purchases, and unexpected expenses.
• Business Checking Checking accounts tailored for businesses to manage daily operations and cash flow.
• Business Savings Savings accounts designed for business owners to safely store and grow business funds.
• Commercial Loans Commercial lending solutions for business financing including expansion, equipment, and working capital needs.
• Agricultural Lending Specialized lending for farms and agricultural operations including farmland loans, equipment financing, and operating lines of credit.
• Treasury Management Business banking services to help manage daily finances, cash flow, and financial operations for commercial customers.
• Merchant Services Payment processing services for businesses to accept card transactions and electronic payments.
• VISA Debit Card Debit card accepted everywhere VISA is accepted and at over 55,000 surcharge-free ATMs through the Allpoint network, with fraud protection and mobile wallet support.
• Safe Deposit Boxes Secure physical storage service for valuable documents and items at branch locations.
• New Peoples Financial Services (Wealth Management) Sub-brand offering wealth management, retirement planning, college savings, and investment advisory services through licensed financial advisors.
• Retirement Planning Retirement strategy development services helping customers build plans tailored to their goals, lifestyle, and timeline.
• College Savings Planning 529 college savings plan assistance and education savings planning services.
• GenGold Identity Theft Protection Identity theft protection program available with accounts in Basic (free with qualifying accounts) and Ultimate ($4.95/month) tiers.

Quantifiable outcome

• Net income increased 23% year-over-year from $8.2M (2024) to $10.1M (2025)
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature5 records

Partnerships

Four partnerships are on record, tiered core.

• Allpoint ATM NetworkcoreTechnology or IntegrationPartnership provides New Peoples Bank customers access to over 50,000 surcharge-free ATMs nationwide through the Allpoint network. This extends the bank's physical footprint beyond its own branch and ATM locations, providing convenient access for customers traveling or living outside the bank's service area.
• Visa International Services AssociationcoreTechnology or IntegrationPartnership for VISA debit card issuance enabling customers to make purchases anywhere VISA is accepted and access ATMs globally. Includes VISA Secure Remote Commerce, fraud protection, and zero liability protection.
• MeridianLinkcoreTechnology or IntegrationOnline account opening platform provider enabling digital account opening for new customers within the bank's marketing area.
• Osaic InstitutionscoreTechnology or IntegrationRegistered representative network providing securities and investment services through New Peoples Financial Services for wealth management, retirement planning, and college savings products.

Scale indicators8 records

Recent moves3 records

Expansion highlights5 records

Direct peers

• Blue Ridge Bank: Community-oriented bank operating across Virginia with a focus on digital banking alongside traditional branches, comparable in regional emphasis to New Peoples Bank's Southwest Virginia footprint.
• Highlands Community Bank: Community bank serving the High Country of western North Carolina, directly overlapping with New Peoples Bank's Boone, NC branch market.
• Carter Bank & Trust: Community bank headquartered in Martinsville, Virginia, operating branches across Virginia and North Carolina with a similar mix of consumer, business, and mortgage products targeting rural/small-town markets.
• First Bank of Virginia: Virginia-based community bank providing consumer, business, and mortgage banking products in small-town and rural communities across the Commonwealth.
• Virginia National Bankshares: Holding company for Virginia National Bank, a community bank serving Central and Southwest Virginia with comparable retail/commercial banking and similar size/scale to New Peoples Bank.
• Citizens National Bank (VA): Southwest Virginia community bank with a longstanding presence in rural markets offering similar deposit, lending, and ag banking products to New Peoples Bank's customer base.

Regional players

• MVB Bank: Community bank primarily serving West Virginia, Virginia, and surrounding Appalachian markets with consumer and business banking, overlapping with New Peoples Bank's branch geography.
• First National Bank of Tennessee: Tennessee community bank offering consumer and business banking services with personal/local decision-making, comparable to New Peoples Bank's East Tennessee market presence.
• Summit Community Bank: West Virginia-headquartered community bank serving the Southern WV region with comparable consumer/commercial banking and community-focused value proposition.

Broad incumbents

• Atlantic Union Bank: Large Virginia-based commercial/retail bank serving much of the same Mid-Atlantic/South region with comparable deposit, lending, and wealth offerings, though significantly larger in scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/NewPeoplesBank
• Facebookfacebook.com/NewPeoplesBank
• LinkedInlinkedin.com/company/new-peoples-bank-inc.
• Instagraminstagram.com/newpeoplesbnk

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Peoples Bank