---
schema_version: "secwatch.filing_event.v1"
accession: "0001903596-22-000229"
form_type: "8-K"
ticker: "NWPP"
cik: "0001163389"
company_name: "NEW PEOPLES BANKSHARES INC"
filed_at: "2022-04-29T23:59:59+00:00"
generated_at: "2026-06-26T02:27:36.850375+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001903596-22-000229
- form_type: 8-K
- ticker: NWPP
- cik: 0001163389
- company_name: NEW PEOPLES BANKSHARES INC
- filed_at: 2022-04-29T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1163389/000190359622000229/0001903596-22-000229-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163389/000190359622000229/sfsnwpp8k042922.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001903596-22-000229
- JSON: https://secwatch.observer/filing/0001903596-22-000229.json
- Plain text: https://secwatch.observer/filing/0001903596-22-000229.txt

## Key facts
- Executive change
  Eugene Hearl retired as director at NEW PEOPLES BANKSHARES INC.
  - Action: retired
  - Role: director
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163389/000190359622000229/0001903596-22-000229-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.