New Peoples Bankshares, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 01:29 pm EST
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New Peoples Bankshares, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 7.04 million compared to USD 7.2 million a year ago. Net income was USD 1.89 million compared to USD 1.99 million a year ago. Basic earnings per share from continuing operations was USD 0.08 compared to USD 0.08 a year ago. Diluted earnings per share from continuing operations was USD 0.08 compared to USD 0.08 a year ago.
For the nine months, net interest income was USD 21.11 million compared to USD 20.67 million a year ago. Net income was USD 5.64 million compared to USD 5.83 million a year ago. Basic earnings per share from continuing operations was USD 0.24 compared to USD 0.24 a year ago. Diluted earnings per share from continuing operations was USD 0.24 compared to USD 0.24 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.