Welcome to our dedicated page for Peoples Financal news (Ticker: PFBX), a resource for investors and traders seeking the latest updates and insights on Peoples Financal stock.
Peoples Financial Corporation reports developments tied to its role as the Mississippi bank holding company for The Peoples Bank. News for PFBX commonly covers quarterly earnings, semi-annual and special cash dividends, stock repurchase authorizations, asset quality, liquidity, regulatory capital ratios and the bank’s securities portfolio.
The Peoples Bank provides retail and commercial banking, financial and trust services along the Mississippi Gulf Coast, including trust and investment services for financial, estate and retirement planning. Company updates also reflect activity in Hancock, Harrison, Jackson and Stone counties and completed additions to its corporate trust business.
Summary not available.
Summary not available.
Peoples Financial Corporation (OTC-PINK: PFBX) reported a significant increase in net income for Q1 2023, reaching $2.623 million compared to $924,000 in Q1 2022. This improvement is attributed to a rise in net interest income, up $2.27 million to $7.05 million, reflecting higher interest rates. The company announced a cash dividend of $0.12 per share, payable on May 5, 2023, marking a dividend increase from $0.10. Shareholders' equity grew by $7.593 million to $62.787 million, mainly due to reduced unrealized losses on securities. The company's total assets stood at $985 million as of March 31, 2023.
Peoples Financial Corporation (PFBX) reported a net income of $5,250,000 for Q4 2022, surpassing Q4 2021's $2,432,000. This increase was driven by a $2,446,000 income tax benefit and a $724,000 rise in net interest income. For the year, net income reached $8,941,000, slightly up from $8,911,000 in 2021. However, total shareholders' equity fell from $91,729,000 in 2021 to $55,194,000 in 2022 due to $47,431,000 in unrealized losses on securities linked to higher interest rates. The Company also completed the acquisition of Trustmark's corporate trust business, enhancing its asset management portfolio.
Trustmark Corporation (NASDAQ: TRMK) and Peoples Financial Corporation (OTC: PFBX) have finalized the sale of Trustmark’s Corporate Trust business to The Peoples Bank. This transaction includes approximately 200 bond issues, enhancing The Peoples Bank's trust services. Trustmark aims to redirect resources towards strategic growth initiatives, while continuing to provide specialized services via its Wealth Management Division. The transition seeks to ensure that Corporate Trust customers receive consistent service.
Peoples Financial Corporation (OTCQX: PFBX) reported a net income of $1,055,000 for Q2 2022, a rise from $789,000 in Q2 2021, resulting in earnings per share of $0.23 versus $0.16 the previous year. Year-to-date net income fell to $1,942,000, down from $5,119,000, primarily due to a prior non-recurring gain. Total shareholders' equity decreased to $55,960,000 from $94,072,000, driven by $35,099,000 in unrealized losses from the securities portfolio amid rising interest rates. Asset quality has improved, evidenced by a reduction in past due loans and other real estate.
Peoples Financial Corporation (PFBX) reported a significant drop in net income for Q1 2022, amounting to $887,000, down from $4,330,000 in Q1 2021, translating to earnings per share of $0.19 compared to $0.89 a year earlier. The sharp decline in earnings is attributed to the previous year’s reduction in loan loss allowances. The company also revealed an error in accounting for a limited partnership investment, leading to a cumulative impairment totaling $2,110,000. Total shareholders' equity decreased from $92.35 million to $70.67 million due to unrealized losses on securities caused by interest rate fluctuations.
Peoples Financial Corporation (PFBX) announced the retirement of Chief Financial Officer Lauri A. Wood, effective April 1, 2022, after over 32 years of service. Leslie B. Fulton has been appointed as the new CFO, starting March 21, 2022. Fulton brings more than 15 years of banking experience and expertise in financial reporting and regulatory matters. The company reported total assets of $819 million as of December 31, 2021, operating 18 branches along the Mississippi Gulf Coast, and offering various banking services since its founding in 1896.
Peoples Financial Corporation (OTCQX: PFBX) has declared a semi-annual dividend of $0.09 per share on its common stock, payable on March 30, 2022, to shareholders of record on March 23, 2022. The increase in dividend reflects the Company’s appreciation to shareholders. As of December 31, 2021, the Company had total assets of $819 million and operates 18 branches along the Mississippi Gulf Coast. Additional information about the Company can be found on its website and the SEC's site.
Peoples Financial Corporation (OTCQX: PFBX), based in Biloxi, Mississippi, has declared a semi-annual dividend of $0.06 per share, payable on December 8, 2021, to shareholders on record as of December 3, 2021. The company emphasizes its commitment to consistent dividend payments while maintaining a strong capital position. Additionally, it has successfully repurchased 200,000 shares of its common stock at a total cost of $3,375,309. As of September 30, 2021, Peoples Financial reported total assets of $825 million.