UNITED STATES OF AMERICA BEFORE THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM WASHINGTON, D.C. STATE CORPORATION COMMISSION BUREAU OF FINANCIAL INSTITUTIONS RICHMOND, VIRGINIAWritten Agreement • August 6th, 2010 • New Peoples Bankshares Inc • State commercial banks
WHEREAS, in recognition of their common goal to maintain the financial soundness of New Peoples Bankshares, Inc., Honaker, Virginia (“NPBI”), a registered bank holding company, and its subsidiary bank, New Peoples Bank, Inc., Honaker, Virginia (the “Bank”), a state-chartered bank that is a member of the Federal Reserve System, NPBI, the Bank, the Federal Reserve Bank of Richmond (the “Reserve Bank”), and the State Corporation Commission Bureau of Financial Institutions (the “Bureau”) have mutually agreed to enter into this Written Agreement (the “Agreement”); and
