CSIMarket
 

New Peoples Bankshares Inc   (NWPP)
Other Ticker:  
 
    Sector  Financial    Industry Regional Banks
   Industry Regional Banks
   Sector  Financial

New Peoples Bankshares Inc 's

Competitiveness


 

NWPP Sales vs. its Competitors Q3 2023



Comparing the current results to its competitors, New Peoples Bankshares Inc reported Revenue increase in the 3 quarter 2023 by 0.94 % year on year.
The revenue growth was below New Peoples Bankshares Inc 's competitors' average revenue growth of 7.7 %, achieved in the same quarter.

List of NWPP Competitors

With a net margin of 20.27 % New Peoples Bankshares Inc achieved higher profitability than its competitors.

More on NWPP Profitability Comparisons



Revenue Growth Comparisons




Net Income Comparison


New Peoples Bankshares Inc Net Income in the 3 quarter 2023 fell year on year by -4.83%, slower than its competitors' income growth of 16.16 %

<<  NWPP Stock Performance Comparisons


New Peoples Bankshares Inc 's Comment on Competitors and Industry Peers


The banking business is highly competitive. We compete as a financial intermediary with other commercial banks, savings and loan associations, credit unions, mortgage banking firms, consumer finance companies, securities brokerage firms, insurance companies, money market mutual funds and other financial institutions operating in the southwestern Virginia, southern West Virginia, and eastern Tennessee market area and elsewhere. Our market area is a highly competitive, highly branched banking market.

Competition in the market area for loans to small businesses and professionals, the Bank’s target market, is intense, and pricing is important. Many of our larger competitors have substantially greater resources and lending limits than we have. They offer certain services, such as extensive and established branch networks and trust services that we do not expect to provide or will not provide in the near future. Moreover, larger institutions operating in the market area have access to borrowed funds at lower costs than are available to us. Deposit competition among institutions in the market area also is strong. As a result, it is possible that we may have to pay above-market rates to attract deposits.

While pricing is important, our principal method of competition is service. As a community banking organization, we strive to serve the banking needs of our customers while developing personal, hometown relationships with them. As a result, we provide a significant amount of service and a range of products without the fees that customers can expect from larger banking institutions.