Michael Ratliff
About Michael Ratliff
Michael Ratliff is Executive Vice President and Chief Banking Officer of New Peoples Bank (NWPP’s bank subsidiary) and has served in this role since October 2023. He was announced as joining the Bank as President and Chief Banking Officer effective October 20, 2023, and is listed in subsequent proxies as EVP & CBO; age 46 in 2024 and 47 in 2025, with over 20 years of banking experience in the company’s market area . NWPP’s pay-versus-performance disclosure shows strong alignment in 2024: TSR rose ~51.8% and net income rose ~14.2% year over year . Company revenues increased from 2023 to 2024; EBITDA is not disclosed for this bank and the metric is not applicable in filings *.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| New Peoples Bank (NWPP subsidiary) | Executive Vice President & Chief Banking Officer | Oct 2023–present | Leads commercial and retail banking strategy and production across the bank’s footprint . |
| New Peoples Bank (NWPP subsidiary) | President & Chief Banking Officer | Oct 2023 (appointment announced) | Senior leadership of banking franchise; leverages 20+ years regional banking experience . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| First Community Bank | Senior Vice President & Commercial & Industrial Banking Manager | Oct 2021–Oct 2023 | Led C&I portfolio; growth and relationship coverage across markets . |
| First Community Bank | Market President, Abingdon Division & Tennessee Division | Jan 2015–Oct 2021 | P&L leadership; market expansion and portfolio build in Abingdon/TN . |
Company Performance Context
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Value of $100 Investment (TSR) | $115.19 | $107.13 | $162.67 |
| Net Income ($USD Thousands) | $8,082 | $7,184 | $8,204 |
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenues ($USD) | $9,692,000* | $11,254,000 |
Values retrieved from S&P Global.
*Values retrieved from S&P Global.
Fixed Compensation
- Not disclosed for Ratliff: He is an executive officer of the Bank (not the Company) and is compensated by the Bank; NWPP’s proxy does not include him among named executive officers, and his salary/bonus are not itemized in the Summary Compensation Table .
Performance Compensation
NWPP uses cash-based incentive programs rather than equity grants for senior officers, aligning payouts with operational and earnings outcomes.
- Senior Performance Bonus Plan (annual cash)
- Participants: certain senior officers of the Company and Bank (discretionary eligibility) .
- Structure: annual cash bonus up to predetermined % of total compensation, based on achievement of Bank operating or consolidated performance goals; $205,175 accrued for 2024 (paid 2025); $231,115 for 2023 (paid 2024) .
- Performance factors considered in pay decisions include branch performance, asset quality, capital management, core deposit growth, efficiency, regulatory compliance, and earnings (no fixed weights; committee uses judgment) .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Bank operating/consolidated goals (e.g., branch performance, asset quality, core deposit growth, efficiency, regulatory compliance, earnings) | Discretionary (committee judgment) | Not disclosed | Not disclosed | Annual cash bonus (up to preset %) | N/A (annual cash) |
- Long-Term Cash Incentive Plan (LTIP; “notional shares” settled in cash)
- Effective: February 27, 2023; capacity increased from 500,000 to 750,000 notional shares (Dec 2023) .
- Metric & Payout: quarterly EPS × number of notional shares; administrator may adjust EPS for unusual/infrequent items .
- Vesting: 25% on each of the first–fourth anniversaries of grant; payout generally in three installments; settlement on earliest of separation, change-in-control, or 10-year anniversary .
- Initial awards: Asbury 140,000; Kiser 110,000 (+30,000 effective Jan 1, 2024); Speaks 75,000; other senior management 175,000 (+75,000 to another senior manager in Dec 2023). Ratliff’s specific award, if any, is not disclosed .
| Metric | Notional Shares | Vesting | Payout Mechanics | CIC Treatment |
|---|---|---|---|---|
| Quarterly EPS of common stock | Not disclosed for Ratliff | 25% annually over 4 years | Cash; paid in installments; settlement at separation/CIC/10 years | Settlement triggers at CIC; award terms govern pacing |
Equity Ownership & Alignment
- Beneficial ownership: Ratliff is not listed individually in the 2024/2025 Security Ownership tables (which enumerate directors and named executive officers); his individual share count is not disclosed .
- Hedging/short sales/pledging: NWPP’s Insider Trading Policy prohibits hedging, short sales, and pledging company stock as collateral (2025 proxy) .
- Stock ownership guidelines: Not disclosed in proxies reviewed .
Employment Terms
- Start date: Joined New Peoples Bank effective October 20, 2023 .
- Current role tenure: ~2 years as of November 2025 based on the October 2023 start .
- Employment agreement: No specific employment agreement for Ratliff is disclosed in NWPP filings reviewed; agreements and severance constructs are disclosed for other executives (e.g., Kiser, Booher) but not for Ratliff .
- Non-compete/non-solicit: Not disclosed for Ratliff; Booher’s agreement includes restrictive covenants and severance constructs typical of bank executives, but these are not stated for Ratliff .
Investment Implications
- Cash-based incentive design centers on annual bonuses and a long-term cash plan tied to EPS, indicating payouts align with earnings rather than stock price; without disclosed equity awards, direct stock-based alignment for Ratliff appears limited, although hedging/pledging prohibitions reduce misalignment risk .
- TSR and net income improved materially in 2024, supporting an environment of positive pay-for-performance optics; the committee uses discretion rather than formulaic weights, which can introduce variability and potential discretion risk if targets ease—monitor bonus accruals vs. performance factors in future proxies .
- Retention risk cannot be quantified due to lack of disclosed employment/severance terms for Ratliff; the LTIP’s vesting cadence (if applicable to him) would reduce near-term departure risk by deferring value over four years .
- Trading signals from insider activity cannot be assessed here; no Form 4 detail for Ratliff is in the proxies. Monitor EDGAR for any insider transactions and watch for LTIP settlement triggers (separation/change-in-control) which could alter cash payout timing .