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 (PFBX) is the parent of The Peoples Bank, a commercial bank founded in 1896 and operating along the Mississippi Gulf Coast in Hancock, Harrison, Jackson and Stone counties. The company’s news flow offers insight into its banking activities, capital management decisions and governance developments.
Visitors to this PFBX news page will find company-issued press releases covering dividend declarations, earnings reports, stock repurchase programs, and corporate trust transactions. For example, Peoples Financial Corporation has announced regular semi-annual cash dividends and, at times, special dividends, often highlighting what management describes as continuing financial improvement and a focus on returning earnings to shareholders.
The news archive also includes detailed quarterly financial updates, such as the third quarter 2023 release that discussed net income, net interest income, asset quality metrics and the impact of unrealized losses on available-for-sale securities. These releases provide context on how interest rate changes, deposit trends and securities portfolios affect the bank’s performance and capital position.
In addition, company news has covered share repurchase activity, including the completion of a 200,000-share repurchase program in 2021 and the authorization of a further $1,000,000 in repurchases in 2023, as well as executive transitions and proxy-related developments such as recommendations from ISS Proxy Advisory Services. The 2022 announcement of The Peoples Bank’s acquisition of substantially all the assets of Trustmark National Bank’s Corporate Trust business, including approximately 200 bond issues, is another example of a transaction reported through company news.
By reviewing these items, investors and observers can follow how Peoples Financial Corporation manages dividends, evaluates capital allocation, reports on earnings and engages with shareholders over time.
Peoples Financial Corporation (OTCQX Best Market: PFBX) announced that ISS Proxy Advisory Services recommends shareholders vote FOR the election of all six Board nominees and the ratification of Wipfli LLP as auditors at the upcoming Annual Meeting on May 19, 2021. ISS criticized the Stilwell Group for failing to present a viable plan for improving Company performance. The report acknowledges Peoples Financial's strategic plan and its outperformance relative to peers and the Nasdaq Community Bank Index since October 5, 2020.
The Stilwell Group, a significant shareholder of Peoples Financial Corporation (OTCMKTS: PFBX), owning approximately 9.93% of outstanding shares, has expressed concerns regarding the company's financial practices. In a recent letter to shareholders, they questioned the legitimacy of an $18 million liability on PFBX's balance sheet, suggesting it resulted from the Directors' Deferred Income Plan, which pays insiders 10% annually on deferred fees. The Stilwell Group demands transparency on these payments and accountability from insiders to uphold their fiduciary duty to shareholders.
Peoples Financial Corporation (PFBX) announced a stock repurchase program to buy back up to 200,000 shares of its common stock, adding to its previous repurchases totaling 245,000 shares. As of March 31, 2021, the company had 4,878,557 shares outstanding. The shares will be repurchased at management's discretion based on market conditions. The program is designed to enhance shareholder value and follows a quarter of record earnings and an increased dividend paid on April 8, 2021. The initiative may continue for 12 months or end sooner if all shares are bought back.
Peoples Financial Corporation (PFBX) reported a strong first quarter for 2021, achieving a net income of $4.33 million, surging from $1.12 million in the same period last year. Earnings per share rose to $0.89 compared to $0.23 for Q1 2020. A notable recovery of $4.51 million on a previously charged-off loan contributed to a $4.85 million negative provision for loan losses. However, the company faced increased non-interest expenses due to a $1.125 million lawsuit settlement accrual. As of March 31, 2021, total assets were $752 million.
The Stilwell Group, a significant shareholder of Peoples Financial Corporation (PFBX), owning about 9.93% of shares, has sent a letter to other shareholders and updated its Definitive Proxy Statement. The group aims for improved company performance, an end to nepotism in leadership, and fairer rewards for shareholders. They encourage voting for their nominee, Peter Prickett, to bring necessary changes. The Stilwell Group emphasizes its commitment to this activist investment, seeking to enhance shareholder value in PFBX.
The Stilwell Group, a major shareholder owning 9.93% of Peoples Financial Corporation (PFBX), has expressed concerns regarding executive compensation in a letter to shareholders. They highlighted that while dividends to shareholders have been minimal, significant benefits were paid to executives under various plans. For instance, the cash surrender value of insurance policies for these plans was $17,145,869 as of December 31, 2020. The letter calls for increased transparency and accountability regarding executive compensation as shareholders have reportedly been neglected over the years.
The Stilwell Group, a major shareholder of Peoples Financial Corporation (OTCMKTS: PFBX), owning approximately 9.93% of shares, has filed a definitive proxy statement and sent a letter to shareholders ahead of the 2021 Annual Meeting. It criticizes the board's decision to increase the dividend from one cent to five cents and advocates for share repurchases while shares remain below book value. Additionally, it calls for a NO-NEPOTISM policy regarding leadership succession, highlighting concerns over the transfer of the CEO position within the same family.
Peoples Financial Corporation (OTCQX: PFBX) announced a cash dividend of $0.10 per share, comprising a semi-annual cash dividend and a special cash dividend, payable to shareholders on April 8, 2021. This reflects a significant 150% increase from the previous dividend in April 2020 and a 400% increase over the total paid in 2020. The board's decision is attributed to a recovery of $4.51 million on a previously charged-off loan, which is expected to boost net income.
The Stilwell Group, a major shareholder of Peoples Financial Corporation (OTCMKTS: PFBX), owning approximately 9.93% of shares, has issued a critical letter to shareholders regarding the company's management. In the letter, they express dissatisfaction with the board's performance over decades, calling attention to the lack of dividends while insiders benefit. The Stilwell Group plans to file a proxy statement with the SEC to solicit votes for their director nominee at the upcoming annual meeting, urging shareholders to review the available proxy materials for important information.
On February 22, 2021, Peoples Financial Corporation (PFBX) announced a recovery of $4,510,359 related to a previously charged-off loan of $5,424,923. This loan, placed on non-accrual in May 2019 and charged off in September 2020, significantly impacted the company's net losses during 2020. The recovery is expected to positively influence net income and capital. The bank's management reported a decrease in non-accrual loans from $9,266,000 at the end of 2019 to $3,027,000 at the end of 2020, indicating effective management of non-performing assets.