New Peoples Bankshares Announces Director Departure and Dividend Declaration

New Peoples Bankshares, Inc. (OTCMKTS:NWPP) reported two significant corporate events on February 24, 2025, in its most recent Form 8-K filing with the Securities and Exchange Commission.

The filing noted that director C. Todd Asbury will not seek reelection and will step down from the board effective with the Annual Meeting of Shareholders, scheduled for May 20, 2025. According to the report, Asbury’s departure is not related to any disagreement concerning the Company’s operations, policies, or practices.

In addition, the Company announced a cash dividend. The Board of Directors declared a dividend payment of $0.08 per share of common stock, with a record date of March 17, 2025, and a payment date set for March 31, 2025. A press release detailing the dividend announcement was issued concurrently with the 8-K filing and has been incorporated by reference in the report.

The events, which include both a change in corporate governance and a return of capital to shareholders, reflect ongoing developments within the Company. Additional details are available in the attached exhibit accompanying the Form 8-K filing.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read New Peoples Bankshares’s 8K filing here.

New Peoples Bankshares Company Profile

New Peoples Bankshares, Inc operates as a financial holding company for New Peoples Bank, Inc that engages in the provision of general banking services to individuals, small to medium size businesses, and the professional community in the United States. It offers demand, interest-bearing demand, savings, money market, health savings, and individual retirement deposit accounts, as well as certificate of deposit.