NEW PEOPLES BANKSHARES INC

New Peoples Bankshares, Inc. is a Virginia financial holding company based in Honaker, Virginia. The company primarily operates through its subsidiary, New Peoples Bank, Inc., a Virginia banking corporation. New Peoples Bank, Inc. offers a variety of banking and financial services, mainly targeting individuals, small to medium-sized businesses, and the professional community. The Bank has a division called New Peoples Financial Services, which provides investment services through its broker-dealer relationship with Osaic Institutions, Inc. Additionally, NPB Insurance Services, Inc., a wholly-owned subsidiary of the Bank, generates revenue by referring insurance services. New Peoples Bank, Inc. provides responsive and technologically enabled banking services to professionals and small to medium-sized businesses in its market area. These services include loans priced based on deposit relationships, direct access to decision-makers, and prompt, innovative solutions for customer banking needs. The Bank's capitalization and lending limit allow it to meet the credit needs of a significant portion of its target market. For loans exceeding its lending limit, the Bank seeks participation from other financial institutions. The Bank was incorporated on December 9, 1997, and began operations on October 28, 1998. On November 30, 2001, the Bank became a wholly-owned subsidiary of New Peoples Bankshares, Inc.