Document And Entity Information
v4.1.217.0
Document And Entity Information
6 Months Ended
Jun. 30, 2011
Aug. 08, 2011
Document And Entity Information    
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Jun. 30, 2011
Document Fiscal Year Focus 2011  
Document Fiscal Period Focus Q2  
Entity Registrant Name NEW PEOPLES BANKSHARES INC  
Entity Central Index Key 0001163389  
Current Fiscal Year End Date --12-31  
Entity Filer Category Accelerated Filer  
Entity Common Stock, Shares Outstanding   10,010,178

Consolidated Statements Of Income
v4.1.217.0
Consolidated Statements Of Income (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
INTEREST AND DIVIDEND INCOME        
Loans including fees $ 10,514 $ 12,283 $ 21,402 $ 24,478
Federal funds sold   11 9 21
Interest-earning deposits with banks 54   80  
Investments 45 35 84 58
Dividends on equity securities (restricted) 28 21 50 42
Total Interest and Dividend Income 10,641 12,350 21,625 24,599
INTEREST EXPENSE        
Demand 44 77 89 150
Savings 138 193 324 393
Time deposits below $100,000 1,242 1,812 2,630 3,792
Time deposits above $100,000 769 1,118 1,574 2,337
FHLB Advances 223 263 444 524
Other borrowings 44 59 105 122
Trust Preferred Securities 92 112 200 219
Total Interest Expense 2,552 3,634 5,366 7,537
NET INTEREST INCOME 8,089 8,716 16,259 17,062
PROVISION FOR LOAN LOSSES 2,312 1,950 3,457 3,940
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 5,777 6,766 12,802 13,122
NONINTEREST INCOME        
Service charges 607 703 1,159 1,313
Fees, commissions and other income 445 448 1,019 989
Insurance and investment fees 93 159 191 279
Life insurance investment income 89 103 176 209
Total Noninterest Income 1,234 1,413 2,545 2,790
NONINTEREST EXPENSES        
Salaries and employee benefits 3,946 4,019 7,859 7,520
Occupancy and equipment expense 1,119 1,130 2,144 2,334
Advertising and public relations 98 116 183 194
Data processing and telecommunications 392 399 798 814
FDIC insurance premiums 421 750 1,096 1,500
Other real estate owned and repossessed vehicles, net 2,246 156 2,490 302
Other operating expenses 1,395 1,301 2,660 2,358
Total Noninterest Expenses 9,617 7,871 17,230 15,022
INCOME (LOSS) BEFORE INCOME TAXES (2,606) 308 (1,883) 890
INCOME TAX EXPENSE (BENEFIT) (931) 66 (757) 235
NET INCOME (LOSS) $ (1,675) $ 242 $ (1,126) $ 655
Earnings (Loss) Per Share        
Basic $ (0.17) $ 0.02 $ (0.11) $ 0.07
Fully Diluted $ (0.17) $ 0.02 $ (0.11) $ 0.07
Average Weighted Shares of Common Stock        
Basic 10,010,178 10,009,042 10,010,178 10,009,039
Fully Diluted 10,010,178 10,009,042 10,010,178 10,009,039

Consolidated Balance Sheets
v4.1.217.0
Consolidated Balance Sheets (USD $)
In Thousands
Jun. 30, 2011
Dec. 31, 2010
ASSETS    
Cash and due from banks $ 18,818 $ 14,369
Interest-bearing deposits with banks 69,082 42,549
Federal funds sold 1,010 25,611
Total Cash and Cash Equivalents 88,910 82,529
Investment securities    
Available-for-sale 4,383 4,658
Loans receivable 664,003 707,794
Allowance for loan losses (18,697) (25,014)
Net Loans 645,306 682,780
Bank premises and equipment, net 33,780 34,141
Equity securities (restricted) 3,733 3,878
Other real estate owned 11,137 12,346
Accrued interest receivable 3,368 3,700
Life insurance investments 11,187 11,011
Goodwill and other intangibles 4,288 4,346
Deferred taxes 7,362 8,037
Other assets 7,653 5,201
Total Assets 821,107 852,627
LIABILITIES    
Noninterest bearing 102,343 87,839
Interest-bearing 56,062 60,022
Savings deposits 99,992 108,119
Time deposits 482,756 510,100
Total Deposits 741,153 766,080
Federal Home Loan Bank advances 18,583 24,183
Accrued interest payable 1,795 1,720
Accrued expenses and other liabilities 1,150 1,475
Line of credit borrowing   4,900
Other borrowings 5,450 250
Trust preferred securities 16,496 16,496
Total Liabilities 784,627 815,104
STOCKHOLDERS' EQUITY    
Common stock - $2.00 par value; 50,000,000 shares authorized; 10,010,178 shares issued and outstanding 20,020 20,020
Additional paid-in-capital 21,689 21,689
Retained earnings (deficit) (5,301) (4,175)
Accumulated other comprehensive income (loss) 72 (11)
Total Stockholders' Equity 36,480 37,523
Total Liabilities and Stockholders' Equity $ 821,107 $ 852,627