New Peoples Bankshares reports record Q1 net income $1.92M, EPS $0.08; authorizes buyback of 500K shares

NEW PEOPLES BANKSHARES INC

Record Q1 net income $1.92M ($0.08), up 21.2% from $1.58M ($0.07) in Q1 2021.
Net interest income rose $208K to $6.6M; provision for loan losses reduced $86K to $100K; NIM 3.53%.
Total deposits increased $23.5M to $731.0M; total assets $813.5M, up 2.4% since Dec 2021.
Board authorized repurchase of up to 500,000 shares through March 31, 2023.
Director Eugene Hearl to retire effective May 17, 2022 Annual Meeting; not due to disagreement.

item 2.02 item 5.02 item 8.01 item 9.01

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Departed

Eugene Hearl

director

NWPP · NEW PEOPLES BANKSHARES INC

Effective: 2022-05-17
Filed: April 29, 2022, 7:59 PM ET

On April 25, 2022, the board of directors was informed that director Eugene Hearl would retire effective with the Annual Meeting of Shareholders scheduled for May 17, 2022.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Eugene Hearl retired as director at NEW PEOPLES BANKSHARES INC.

Action: retired
Role: director

Exact text from the filing

On April 25, 2022, the board of directors was informed that director Eugene Hearl would retire effective with the Annual Meeting of Shareholders scheduled for May 17, 2022.

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NEW PEOPLES BANKSHARES INC filing history →

Source: SEC EDGAR

accession 0001903596-22-000229

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