Code of Ethics
The purpose of this Code of Ethics is to establish certain standards of conduct for the directors and executive and senior financial officers, and individuals performing similar functions, of New Peoples Bankshares, Inc. and its subsidiaries. The Company expects the highest possible ethical conduct from these individuals in order to merit and maintain the complete confidence and trust of its customers, its shareholders and the public in general, and compliance with this Code is mandatory. The intent of this Code is to support a culture of transparency, integrity and honesty.
Honest and Ethical Conduct
This Code requires the Company’s directors and executive and senior financial officers to exercise honest and ethical conduct, including the ethical handling of
Conflicts of interest are prohibited as a matter of Company policy. A “conflict of interest” exists when an officer’s private interest interferes or conflicts in any way
In addition, directors and officers are prohibited from taking for themselves personally opportunities that properly belong to the Company or are discovered
Each director and officer is further expected to deal fairly with the Company’s customers, vendors, competitors, officers and employees. No director or officer
Full and Fair Disclosure
This Code requires the Company’s directors and executive and senior financial officers to promote full, fair, accurate, timely and understandable disclosure in the
All of the Company’s books, records, accounts and financial statements must be maintained in reasonable detail, must appropriately reflect the Company’s
In addition, directors and officers must make open and full disclosures to, and have honest discussions with, the auditor of the Company’s financial statements.
Compliance with Law
This Code requires the Company’s directors and executive and senior financial officers to comply with applicable governmental laws, rules and regulations.
Reporting of Violations
This Code requires the Company’s directors and executive and senior financial officers to adhere to prompt internal reporting of violations of this Code to
Directors or officers who suspect or discover any other director or officer engaging in any illegal or unethical act have the responsibility to promptly notify
This Code requires the Company’s directors and executive and senior financial officers to maintain accountability for adherence to this Code. It is the
Officers who violate this Code may be subject to discipline, up to and including, but not limited to, dismissal from employment. Directors may be asked to resign
The Company will make a copy of this Code publicly available through the Company’s internet site or as an exhibit to its Annual Report on Form 10-K.
The Audit Committee of the Board of Directors shall consider any request for a waiver of this Code. The Company must promptly disclose any waiver of this Code to all of its shareholders as required by the rules of the Securities and Exchange Commission.