WASHINGTON, D.C.
FORM 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (Date of earliest event reported) JANUARY 14, 2003
NEW PEOPLES BANKSHARES, INC.
(Exact name of registrant as specified in its charter)
VIRGINIA 000-33411 31-1804543
(State or other (Commission File Number) (IRS Employer ID or
jurisdiction of Identification No.)
incorporation)
2 GENT DRIVE, HONAKER, VIRGINIA 24260
Address of principal executive offices) (Zip Code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (276) 873-6288
(Former name or former address, if changed since last report)
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
(a) Effective December 18, 2002, New Peoples Bankshares, Inc. (the
"Corporation") or (the "Registrant") dismissed S. B. Hoover and
Company, L.L.P. ("S. B. Hoover") as the Corporation's independent
certified public accountants by selecting Brown Edwards & Company,
L.L.P. to serve as its independent public accountants for the year
ended December 31, 2003. With the Audit Committee's recommendation, the
Board of Directors approved the selection today. The prior independent
certified public accountants, S. B. Hoover will serve as the
independent certified public accountants for the year ended December
31, 2002. Furthermore, they will continue to provide income tax
preparation and consulting services for the year ended December 31,
2003.
S. B. Hoover's report on the Corporation's consolidated financial
statements during the two most recent fiscal years contained no adverse
opinion or a disclaimer of opinion, and was not qualified or modified
as to uncertainty, audit scope or accounting principles.
During the last two fiscal years and the subsequent interim periods to
December 18, 2002, there were no disagreements between the Corporation and
S. B. Hoover on any matters of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure, which
disagreements, if not resolved to the satisfaction of S. B. Hoover, would
have caused it to make a reference to the subject matter of the
disagreements in connection with its report.
None of the "reportable events" described in Item 304 (a)(1)(v) occurred
with respect to the Corporation within the last two fiscal years and the
subsequent interim period to the date hereof.
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit 16.1 Letter from S. B. Hoover & Company, L.L.P. regarding change
in certifying accountant.
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.
/s/ Kenneth D. Hart
-------------------------------
Kenneth D. Hart
President & Chief Executive Officer
Dated: January 14, 2003
EXHIBIT INDEX
Exhibit No. Page No.
16.1 Letter from S. B. Hoover & Company, L.L.P. regarding change
in certifying accountant 3
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Exhibit 16.1
January 14, 2003
Mr. Frank Sexton, Jr.
New Peoples Bankshares, Inc.
2 Gent Drive
Honaker, VA. 24260
Dear Mr. Sexton,
This is to confirm that the client-auditor relationship between New Peoples
Bankshares, Inc. (Commission File Number 000-33411) and S. B. Hoover &
Company, L.L.P. will cease with the completion of our audit report on the
Consolidated Financial Statements for the year ended December 31, 2002.
Sincerely,
/s/ S. B. HOOVER & COMPANY, L.L.P.
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S. B. Hoover & Company, L.L.P.