New Peoples Bankshares Q3 net income rises 29.6% to $1.8M; YTD earnings up 240%

NEW PEOPLES BANKSHARES INC

Q3 net income $1.8M ($0.08 EPS) vs $1.4M ($0.06) a year ago; YTD net income $5.1M ($0.21) vs $1.5M.
Net interest margin improved to 3.93% from 3.52% prior quarter; zero provision for loan losses vs $450K last year.
Nonperforming assets fell 11.6% QoQ to $5.4M; net charge-offs annualized 0.03%.
Sold three former branches for $190K gains; transferred three more to OREO at $1.1M loss.
Total assets grew $44.5M (5.9%) since Dec 2020; deposits up $45.4M.

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