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Posted 28 February, 2024

NEW PEOPLES BANKSHARES INC appointed new CEO

CEO Change detected for ticker OTC:NWPP in a 8-K filed on 28 February, 2024.


  On February 28, 2024, New Peoples Bankshares, Inc. (the "Company"), the holding company of New Peoples Bank, Inc. (the "Bank"), issued a press release announcing that C. Todd Asbury, the President and Chief Executive Officer of the Company, will step down from his current positions effective March 31, 2024.  

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Overview of NEW PEOPLES BANKSHARES INC
Financial Services • Banking
New Peoples Bankshares, Inc. is a financial holding company, which, through its subsidiary, offers a range of banking and financial services to individuals and small to medium size businesses. It operates through the following portfolio segments: Real Estate Secured, Commercial, Agriculture, Consumer Installment Loans, and All Other Loans. Its services include personal and business banking products such as deposit, loans, digital bank, treasury management, and other. The company was founded on October 28, 1998 and is headquartered in Honaker, VA.
Market Cap
$60.0M
View Company Details
NEW PEOPLES BANKSHARES INC by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


On February 28, 2024, New Peoples Bankshares, Inc. (the "Company"), the holding company of New Peoples Bank, Inc. (the "Bank"), issued a press release announcing that C. Todd Asbury, the President and Chief Executive Officer of the Company, will step down from his current positions effective March 31, 2024. James W. Kiser, the President and Chief Executive Officer of the Bank, will assume those same duties with the Company on March 31, 2024. Mr. Asbury will become a senior advisor to the Company and the Bank through May 31, 2025, under terms of the modified employment agreement announced August 7, 2023. Mr. Asbury will continue to be a member of the Boards of Directors of the Company and the Bank until the annual meeting of shareholders of the Company in 2025.


A copy of the Company's press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.