8-K
NEW PEOPLES BANKSHARES INC (NWPP)
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C.
20549
FORM 8-K
CURRENT REPORT
Pursuant to Section
13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 24,2025
| New Peoples Bankshares, Inc. | ||
|---|---|---|
| (Exact<br> name of registrant as specified in its charter) | ||
| Virginia | 000-33411 | 31-1804543 |
| --- | --- | --- |
| (State<br> or other jurisdiction | (Commission | (IRS<br> Employer |
| of<br> incorporation) | File<br> Number) | Identification<br> No.) |
| 67 Commerce Drive<br><br> <br>Honaker**, Virginia** | 24260 | |
| --- | --- | |
| (Address<br> of principal executive offices) | (Zip<br> Code) | |
| Registrant’s<br> telephone number, including area code: **(276)**873-7000 | ||
| --- |
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| | Written communications<br> pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| | Soliciting material pursuant<br> to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| --- | --- |
| | Pre-commencement communications<br> pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| | Pre-commencement communications<br> pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| --- | --- |
Securities registered pursuant to Section 12(b) of the Act:
| Title<br> of each class | Trading<br> Symbol(s) | Name<br> of each exchange on which registered |
|---|---|---|
| None |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
|---|
On February 24, 2025, the board of directors was informed that director C. Todd Asbury will not stand for reelection and will step down from the board of directors effective with the Annual Meeting of Shareholders scheduled for May 20, 2025. Mr. Asbury’s departure does not relate to any disagreement on matters relating to the Company’s operations, policies or practices.
Item 8.01. Other Events
On February 24, 2025, the Company issued a press release announcing that the Board of Directors declared a dividend payment of $0.08 per share of common stock. The dividend will be payable March 31, 2025, to shareholders of record as of March 17, 2025.
A copy of the Company’s press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No | Description |
|---|---|
| 99.1 | Press release announcing cash dividend dated February 25, 2025 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| NEW PEOPLES BANKSHARES, INC. | |||
|---|---|---|---|
| Date: | February 25,<br> 2025 | By: | /s/<br> Christopher G. Speaks |
| Christopher G. Speaks | |||
| Executive Vice President and Chief Financial Officer |
