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  <P STYLE="margin: 0; text-align: center"><B>UNITED STATES </B></P>
  
  <P STYLE="margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
  
  <P STYLE="margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>
  
  <P STYLE="margin: 0; text-align: center">&nbsp;</P>
  
  <P STYLE="margin: 0; text-align: center"><B>Form 8-K </B></P>
  
  <P STYLE="margin: 0; text-align: center">&nbsp;</P>
  
  <P STYLE="margin: 0; text-align: center"><B>Current Report </B></P>
  
  <P STYLE="margin: 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
  Securities Exchange Act of 1934 </B></P>
  
  <P STYLE="margin: 0; text-align: center">&nbsp;</P>
  
  <P STYLE="margin: 0; text-align: center"><B>Date of Report (Date of earliest event reported):&nbsp;&nbsp;May
  31, 2017</B></P>
  
  <P STYLE="margin: 0; text-align: center">&nbsp;</P>
  
  <P STYLE="margin: 0; text-align: center"><B>New Peoples Bankshares, Inc. </B></P>
  
  <P STYLE="margin: 0; text-align: center"><B>(Exact name of registrant as specified in
  its charter)</B></P>
  
  <P STYLE="margin: 0; text-align: center">&nbsp;</P>
  
  <P STYLE="margin: 0; text-align: center"><B>Commission File Number:&nbsp;&nbsp;000-33411</B></P>
  
  <P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: bottom">
      <TD STYLE="width: 50%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>VA</B></FONT></TD>
      <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="width: 48%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>31-1804543</B></FONT></TD></TR>
  <TR>
      <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(State
      or other jurisdiction of</B></FONT></TD>
      <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(IRS
      Employer</B></FONT></TD></TR>
  <TR>
      <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>incorporation)</B></FONT></TD>
      <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Identification
      No.)</B></FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
  
  <P STYLE="margin: 0; text-align: center"><B>67 Commerce Drive</B></P>
  
  <P STYLE="margin: 0; text-align: center"><B>Honaker, VA 24260</B></P>
  
  <P STYLE="margin: 0; text-align: center"><B>(Address of principal executive offices,
  including zip code)</B></P>
  
  <P STYLE="margin: 0; text-align: center">&nbsp;</P>
  
  <P STYLE="margin: 0; text-align: center"><B>(276) 873-7000</B></P>
  
  <P STYLE="margin: 0; text-align: center"><B>(Registrant&rsquo;s telephone number, including
  area code)</B></P>
  
  <P STYLE="margin: 0; text-align: center">&nbsp;</P>
  
  <P STYLE="margin: 0; text-align: center"><B>N/A</B></P>
  
  <P STYLE="margin: 0; text-align: center"><B>(Former name or former address, if changed
  since last report)</B></P>
  
  <P STYLE="margin: 0; text-align: center">&nbsp;</P>
  
  <P STYLE="margin: 0; text-align: justify"><B>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:</B></P>
  
  <P STYLE="margin: 0; text-align: justify"><B>&nbsp;</B></P>
  
  <P STYLE="margin: 0; text-align: justify"></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; font-size: 10pt; margin-top: 0px; margin-bottom: 6pt; width: 100%">
  <TR STYLE="vertical-align: top; text-align: justify">
      <TD STYLE="width: 15pt; text-align: right"><B>[ ]</B></TD>
      <TD STYLE="width: 5pt"><B>&nbsp;</B></TD>
      <TD STYLE="text-align: justify"><B>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</B></TD></TR>
  </TABLE>
  <P STYLE="margin: 0; text-align: justify"><B>&nbsp;</B></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; font-size: 10pt; margin-top: 0px; margin-bottom: 6pt; width: 100%">
  <TR STYLE="vertical-align: top; text-align: justify">
      <TD STYLE="width: 15pt; text-align: right"><B>[ ]</B></TD>
      <TD STYLE="width: 5pt"><B>&nbsp;</B></TD>
      <TD STYLE="text-align: justify"><B>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</B></TD></TR>
  </TABLE>
  <P STYLE="margin: 0; text-align: justify"><B>&nbsp;</B></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; font-size: 10pt; margin-top: 0px; margin-bottom: 6pt; width: 100%">
  <TR STYLE="vertical-align: top; text-align: justify">
      <TD STYLE="width: 15pt; text-align: right"><B>[ ]</B></TD>
      <TD STYLE="width: 5pt"><B>&nbsp;</B></TD>
      <TD STYLE="text-align: justify"><B>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</B></TD></TR>
  </TABLE>
  <P STYLE="margin: 0; text-align: justify"><B>&nbsp;</B></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; font-size: 10pt; margin-top: 0px; margin-bottom: 6pt; width: 100%">
  <TR STYLE="vertical-align: top; text-align: justify">
      <TD STYLE="width: 15pt; text-align: right"><B>[ ]</B></TD>
      <TD STYLE="width: 5pt"><B>&nbsp;</B></TD>
      <TD STYLE="text-align: justify"><B>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</B></TD></TR>
  </TABLE>
  
  
  <P STYLE="margin: 0; text-align: justify"></P>
  
  <P STYLE="margin: 0; text-align: justify">&nbsp;</P>
  
  
  <HR SIZE="6" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">
  
  <P STYLE="margin: 0; text-align: justify"></P>
  
  <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
  
  
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  <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: top">
      <TD STYLE="margin: 0; text-align: justify; width: 144px"><BR CLEAR="ALL">
      <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 1.01</B></FONT></TD>
      <TD STYLE="margin: 0; text-align: left; vertical-align: bottom"><P STYLE="margin-top: 0; margin-bottom: 0"></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Entry
                                           into a Material Definitive Agreement.</B></FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  </TABLE>
  <P STYLE="margin: 0; text-align: justify">On May 31, 2017 in connection with the sale
  of four (4) of its properties to NPB Good Steward Properties, LLC (&ldquo;Good Steward&rdquo;) reported below pursuant to the
  Real Estate Purchase Agreement entered into on April 13, 2017 New Peoples Bank, Inc. (the &ldquo;Bank&rdquo;), the wholly-owned
  subsidiary of New Peoples Bankshares, Inc., entered into Commercial Lease Agreements with Good Steward for the four properties
  (the &ldquo;Leases&rdquo;) which will allow the Bank to continue to serve its customers from these locations. The Leases, which
  commenced on June 1, 2017, provide the Bank with use of the properties for an initial term of fifteen (15) years.&nbsp; Base rent
  payments for years 1 through 5 of the Leases are approximately $417,000 a year.&nbsp; The base rent payments will increase by
  8% for years 6 thru 10 of the Leases and then another 8% for years 11 thru 15 of the Leases.&nbsp; The Bank has the option to
  renew the Leases five (5) times and each renewal would be for a term of five (5) years.&nbsp; The base rent for the renewals would
  be negotiated at the time the renewal option is exercised by the Bank.</P>
  
  <P STYLE="margin: 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="margin: 0; text-align: justify">In February 2016, the Financial Accounting
  Standards Board amended the Leases topic of the Accounting Standards Codification to revise certain aspects of recognition, measurement,
  presentation, and disclosure of leasing transactions. The amendments will be effective for fiscal years beginning after December
  15, 2018, including interim periods within those fiscal years. The Company has elected to early adopt ASU No. 2016-02 Leases (Topic
  842). Management is currently evaluating the impact the early adoption will have on its financial statements as a result of this
  transaction.</P>
  
  <P STYLE="margin: 0; text-align: justify"></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: top">
      <TD STYLE="width: 144px"><BR CLEAR="ALL">
      <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 2.01</B></FONT></TD>
      <TD STYLE="margin: 0; text-align: left; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Completion
      of Acquisition or Disposition of Assets.</B></FONT></TD></TR>
  </TABLE>
  <P STYLE="margin: 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="margin: 0; text-align: justify">On May 31, 2017 the Bank consummated the sale
  of four (4) of its properties, one each located in Abingdon, Bristol, Gate City and Castlewood, Virginia to Good Steward for a
  total purchase price of $6.17 million. The sale prices for the properties were based on outside appraisals obtained by the Bank.
  The Bank provided to Good Steward financing in the ordinary course for $4.94 million of the purchase price. The Bank and its parent,
  New Peoples Bankshares, Inc. and affiliates have no relationship with Good Steward other than those involved in these transactions.</P>
  
  <P STYLE="margin: 0; text-align: justify"></P>
  
  <P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>
  
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  <P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><B>SIGNATURES </B></P>
  
  <P STYLE="margin: 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="margin: 0; text-align: justify">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.</P>
  
  <P STYLE="margin: 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="margin: 0; text-align: justify"></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
      <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NEW PEOPLES BANKSHARES, INC.</B></FONT></TD></TR>
  <TR>
      <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="width: 3%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="width: 21%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="width: 50%; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Registrant)</FONT></TD></TR>
  <TR>
      <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Date: &nbsp;June 6, 2017</FONT></TD>
      <TD><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 20pt; text-indent: -20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/&nbsp;&nbsp;&nbsp;JOSEPH
          D. PENNINGTON</FONT></P>
  
  
  
  
  
  
  
  <HR SIZE="2" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">
  
          <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P></TD></TR>
  <TR>
      <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Joseph D. Pennington</FONT></TD></TR>
  <TR>
      <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: bottom"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Senior Vice President and</FONT></P>
                                         <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chief Financial Officer </FONT></P></TD></TR>
  </TABLE>
  <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>
  
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "npbs8k060617.htm", "secsgml_size_bytes": 16485}]
metadata_filer: {"company-data": {"conformed-name": "NEW PEOPLES BANKSHARES INC", "cik": "0001163389", "assigned-sic": "6022", "irs-number": "311804543", "state-of-incorporation": "VA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-33411", "film-number": "17894593"}, "business-address": {"street1": "67 COMMERCE DRIVE", "city": "HONAKER", "state": "VA", "zip": "24260", "phone": "2768737000"}, "mail-address": {"street1": "PO BOX 1810", "city": "HONAKER", "state": "VA", "zip": "24260"}}
text: 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):  May
  31, 2017
  New Peoples Bankshares, Inc.
  (Exact name of registrant as specified in
  its charter)
  Commission File Number:  000-33411
  VA
  31-1804543
  (State
      or other jurisdiction of
  (IRS
      Employer
  incorporation)
  Identification
      No.)
  67 Commerce Drive
  Honaker, VA 24260
  (Address of principal executive offices,
  including zip code)
  (276) 873-7000
  (Registrant's telephone number, including
  area code)
  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 pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [ ]
  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [ ]
  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))
  [ ]
  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))
  Item 1.01
  Entry
                                           into a Material Definitive Agreement.
  On May 31, 2017 in connection with the sale
  of four (4) of its properties to NPB Good Steward Properties, LLC ("Good Steward") reported below pursuant to the
  Real Estate Purchase Agreement entered into on April 13, 2017 New Peoples Bank, Inc. (the "Bank"), the wholly-owned
  subsidiary of New Peoples Bankshares, Inc., entered into Commercial Lease Agreements with Good Steward for the four properties
  (the "Leases") which will allow the Bank to continue to serve its customers from these locations. The Leases, which
  commenced on June 1, 2017, provide the Bank with use of the properties for an initial term of fifteen (15) years.  Base rent
  payments for years 1 through 5 of the Leases are approximately $417,000 a year.  The base rent payments will increase by
  8% for years 6 thru 10 of the Leases and then another 8% for years 11 thru 15 of the Leases.  The Bank has the option to
  renew the Leases five (5) times and each renewal would be for a term of five (5) years.  The base rent for the renewals would
  be negotiated at the time the renewal option is exercised by the Bank.
  In February 2016, the Financial Accounting
  Standards Board amended the Leases topic of the Accounting Standards Codification to revise certain aspects of recognition, measurement,
  presentation, and disclosure of leasing transactions. The amendments will be effective for fiscal years beginning after December
  15, 2018, including interim periods within those fiscal years. The Company has elected to early adopt ASU No. 2016-02 Leases (Topic
  842). Management is currently evaluating the impact the early adoption will have on its financial statements as a result of this
  transaction.
  Item 2.01
  Completion
      of Acquisition or Disposition of Assets.
  On May 31, 2017 the Bank consummated the sale
  of four (4) of its properties, one each located in Abingdon, Bristol, Gate City and Castlewood, Virginia to Good Steward for a
  total purchase price of $6.17 million. The sale prices for the properties were based on outside appraisals obtained by the Bank.
  The Bank provided to Good Steward financing in the ordinary course for $4.94 million of the purchase price. The Bank and its parent,
  New Peoples Bankshares, Inc. and affiliates have no relationship with Good Steward other than those involved in these transactions.
  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.
  (Registrant)
  Date:  June 6, 2017
  /s/   JOSEPH
          D. PENNINGTON
  Joseph D. Pennington
  Senior Vice President and
  Chief Financial Officer