Quarterly ResultMay 13, 2026, 04:33 PM
New Peoples Bankshares Q1 Net Income $3.06M; EPS $0.13
AI Summary
New Peoples Bankshares reported strong financial results for the first quarter of 2026, with net income significantly increasing to $3.06 million, up from $1.91 million in the prior year. Diluted earnings per share also rose to $0.13 from $0.08. The company saw growth in total assets, loans, and deposits, while improving asset quality with a reduction in nonaccrual and past due loans. However, total comprehensive income decreased due to increased unrealized losses on investment securities.
Key Highlights
- Net income increased 60.5% to $3.06 million for Q1 2026, up from $1.91 million in Q1 2025.
- Diluted earnings per share rose to $0.13 in Q1 2026, compared to $0.08 in Q1 2025.
- Net interest income grew 15.9% to $8.82 million in Q1 2026 from $7.61 million in Q1 2025.
- Total assets increased to $939.57 million at March 31, 2026, from $909.70 million at December 31, 2025.
- Total deposits grew to $827.65 million at March 31, 2026, from $798.27 million at December 31, 2025.
- Loans receivable increased to $723.31 million at March 31, 2026, from $709.59 million at December 31, 2025.
- Nonaccrual loans decreased to $3.13 million at March 31, 2026, from $3.60 million at December 31, 2025.
- The Bank maintained a "well capitalized" status with a Total Capital Ratio of 16.38% at March 31, 2026.