New Peoples Bankshares, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 02:11 pm EDT
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New Peoples Bankshares, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 7 million compared to USD 6.84 million a year ago. Net income was USD 1.72 million compared to USD 1.92 million a year ago. Basic earnings per share from continuing operations was USD 0.07 compared to USD 0.08 a year ago. Diluted earnings per share from continuing operations was USD 0.07 compared to USD 0.08 a year ago.
For the six months, net interest income was USD 14.07 million compared to USD 13.47 million a year ago. Net income was USD 3.74 million compared to USD 3.84 million a year ago. Basic earnings per share from continuing operations was USD 0.16 compared to USD 0.16 a year ago. Diluted earnings per share from continuing operations was USD 0.16 compared to USD 0.16 a year ago.
New Peoples Bankshares, Inc. is a financial holding company. The Companyâs business is conducted primarily through New Peoples Bank, Inc. (the Bank), a banking corporation. The Bank has a division doing business as New Peoples Financial Services, which offers investment services. The Bank offers a range of banking and related financial services focused primarily on serving individuals, small to medium size businesses and the professional community. It accepts deposits, make consumer and commercial loans, issue drafts, and provide other services customarily offered by a commercial bank, such as business and personal checking and savings accounts, walk-up tellers, drive-in windows, and 24-hour automated teller machines (ATMs). It offers a full range of short-medium- and longer-term commercial, 1-4 family residential mortgages and personal loans. Its commercial loans include both secured and unsecured loans for working capital, including inventory and receivables.
NEW PEOPLES BANKSHARES, INC. 
