On August 21, 2023, New Peoples Bankshares, Inc. (the ?Company?), the holding company of New Peoples Bank, Inc. (the ?Bank?), issued a press release announcing that James W. Kiser will be appointed President and Chief Executive Officer of the Bank effective December 1, 2023. Mr. Kiser will succeed C. Todd Asbury, the current President and Chief Executive Officer of the Company and the Bank, who will continue as President and Chief Executive Officer of the Company until May 31, 2024, as previously disclosed by the Company in its Current Report on Form 8-K filed on August 9, 2023. As part of a planned transition, C. Todd Asbury will step down as the Bank's President and Chief Executive Officer effective December I, 2023, but will remain as the President and Chief Executive Officer of the Company until May 31, 2024.

Mr. Asbury has agreed to continue as a senior advisor to the Bank and the Company for an additional year thereafter, as well as to remaining a member of the Boards of Directors of both entities until at least May 2025. J.W Kiser was born in Oceana, West Virginia. He received his Bachelor of Business Administration from Bluefield State University, in 2003; and his Master of Business Administration in Finance from King University in 2016.

After graduating college, Kiser started his banking career at First Century Bank in Princeton, West Virginia. For more than 20 years, he has served in multiple positions of increasing responsibility including commercial banker, Chief Lending Officer, and Chief Commercial Banking Officer. He currently holds the position of Chief Banking Officer and Executive Vice President at the Bank.

Mr. Kiser resides in Abingdon, Virginia where he enjoys spending time with his wife and two daughters.