Peoples Financial Corporation (OTCQX: PFBX) reported Q1 2026 net income of $1,446,000 and EPS of $0.31, up from $1,310,000 and $0.28 in Q1 2025. Net interest income rose to $5,767,000. Total assets were $788.3M and loans, net were $265.7M as of March 31, 2026.
Total deposits were $666.2M at March 31, 2026, shareholders’ equity was $101.4M, and unrealized losses on available-for-sale securities were $29.646M. Return on average assets was 0.77%.
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Positive
Net income increased $136,000 to $1,446,000 in Q1 2026
Earnings per share rose to $0.31 from $0.28 year-over-year
Net interest income increased $99,000 to $5,767,000
Deposits rose $61,760,000 from Dec 31, 2025 to $666,189,000
Shareholders’ equity increased $728,000 to $101,395,000
Negative
Total deposits down 11.4% year-over-year to $666,189,000
Unrealized losses on AFS securities of $29,646,000 increased $718,000
Market Context
This announcement highlights modestly improving core performance for PFBX, with Q1 2026 net income o...
Analysis
This announcement highlights modestly improving core performance for PFBX, with Q1 2026 net income of $1.446M, EPS of $0.31, and ROA rising to 0.77%. Net interest income and the efficiency ratio both improved, while deposits reached $666.2M. Offsetting factors include lower total assets versus the prior year and sizable unrealized losses on available for sale securities. Investors may watch future net interest margin trends, asset quality metrics, and deposit stability.
Key Figures
Q1 2026 net income:$1,446,000Q1 2026 EPS:$0.31Net interest income:$5,767,000+5 more
8 metrics
Q1 2026 net income$1,446,000Three months ended March 31, 2026; up from $1,310,000 in Q1 2025
Q1 2026 EPS$0.31Earnings per weighted average common share; $0.28 in Q1 2025
Net interest income$5,767,000Q1 2026; $5,668,000 in Q1 2025
Total deposits$666,189,000As of March 31, 2026; $604,429,000 at December 31, 2025
Total assets$788,260,000As of March 31, 2026; $866,613,000 at March 31, 2025
Return on average assets0.77%Q1 2026; 0.62% in Q1 2025
Efficiency ratio76%Q1 2026; improved from 77% in Q1 2025
Allowance for credit losses$3,100,000End of Q1 2026; $2,969,000 at end of Q1 2025
Q2 2024 net income and EPS declined on lower net interest income.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Earnings releases have produced mixed reactions, with one positive and two negative moves, and occasional divergence from headline fundamentals.
Recent Company History
Recent earnings news for PFBX has featured volatile year-over-year comparisons. Q2 2024 showed lower net income and EPS with a weaker efficiency ratio. Q3 2024 reported a sharp net income jump driven by a large tax benefit, despite weaker pre-tax income. Q4 2025 results highlighted a steep full-year earnings decline versus 2024, mainly from the absence of a prior discrete tax benefit. Today’s Q1 2026 report adds another data point to this uneven earnings trajectory.
Key Terms
efficiency ratio, allowance for credit losses, nonaccrual loans, leverage ratio, +4 more
8 terms
efficiency ratiofinancial
"The Company’s efficiency ratio decreased 1% to 76% for the first quarter..."
A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.
allowance for credit lossesfinancial
"Allowance for credit losses on loans, end of period | | $3,100 |"
Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.
nonaccrual loansfinancial
"Nonaccrual loans | | $517 | | $441"
Nonaccrual loans are loans a lender has stopped counting toward interest income because the borrower is overdue or unlikely to pay; the lender only records cash payments received and may set aside extra funds to cover potential losses. For investors, a rising number or amount of nonaccrual loans signals weaker credit quality, lower future interest revenue and larger potential write-downs — similar to pausing expected subscription income when many customers stop paying.
leverage ratiofinancial
"therefore remained strong at 14.15% as of March 31, 2026. LiquidityThe Company..."
Leverage ratio measures how much a company relies on borrowed money compared with its own funds or assets, typically expressed as debt relative to equity or total assets. Like a homeowner with a mortgage, higher leverage can amplify returns when business is strong but also raises the chance of big losses or default if revenue falls, so investors use it to judge financial risk and resilience.
Book value per share is a company’s net worth on paper — total assets minus liabilities — divided by the number of outstanding shares, showing the equity value attributable to each share. Investors use it like a per-slice estimate of a company’s underlying value to compare with the market price; if the market price is far above the book value, the stock may be priced for strong future profits, and if it’s below, the stock might look undervalued or reflect asset concerns.
available for sale securitiesfinancial
"unrealized losses on the available for sale securities portfolio as of March 31, 2026..."
Available-for-sale securities are bonds or stocks a company owns that it does not plan to trade frequently or hold until they mature, but might sell before maturity; their market value is tracked over time and changes are recorded separately from regular profits until they are sold. Investors watch these holdings because swings in their market value affect a company’s reported assets and equity and can signal future cash from sales, much like items in a household that are kept for occasional sale and can change in resale value.
accumulated other comprehensive incomefinancial
"These unrealized losses are presented in accumulated other comprehensive income..."
Accumulated other comprehensive income is a running total on a company’s balance sheet that records certain gains and losses not included in reported profit, such as unrealized gains or losses on some investments, currency translation differences, and pension plan adjustments. Think of it like items in a shopping cart you haven’t paid for yet: it doesn’t affect current profit but changes the company’s overall equity and signals potential future swings in value that investors should watch.
forward-looking statementsregulatory
"and contains “forward-looking statements,” which may include forecasts of our financial..."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
BILOXI, Miss., April 22, 2026 (GLOBE NEWSWIRE) -- Peoples Financial Corporation (the “Company”)(OTCQX Best Market: PFBX), parent of The Peoples Bank (the “Bank”), announced earnings for the first quarter ending March 31, 2026.
First Quarter Earnings Net income for the first quarter of 2026 increased $136,000 to $1,446,000 compared to net income of $1,310,000 for the first quarter of 2025. The earnings per weighted average common share for the first quarter of 2026 were $0.31 compared to earnings per weighted average common share of $0.28 for the first quarter of 2025. Per share figures are based on weighted average common shares outstanding of 4,617,466 for the first quarters of 2026 and 2025, respectively.
The increase in net income for the first quarter of 2026 was primarily due to an increase in net interest income of $99,000 to $5,767,000 for the first quarter of 2026 compared with $5,668,000 for the first quarter of 2025. Total interest income increased by $52,000 to $7,611,000 for the first quarter of 2026 as compared with $7,559,000 for the first quarter of 2025 due to higher interest income and fees on loans. Total interest expense decreased by $47,000 to $1,844,000 for the first quarter of 2026 as compared with $1,891,000 for the first quarter of 2025 due to lower interest rates paid on deposit accounts.
Return on average assets for the first quarter ended March 31, 2026, increased 0.15% to 0.77% compared to 0.62% for the first quarter ended March 31, 2025. The Company’s efficiency ratio decreased 1% to 76% for the first quarter ended March 31, 2026, compared to 77% for the first quarter ended March 31, 2025.
Asset Quality “The Bank’s leadership remains committed to maintaining high-quality assets. We are closely monitoring economic conditions and staying vigilant for any potential changes in interest rates.” said Chevis C. Swetman, Chairman and Chief Executive Officer of the Company and the Bank.
Shareholders’ Equity Total shareholders’ equity increased by $728,000 from $100,667,000 at December 31, 2025, to $101,395,000 at March 31, 2026. The improvement in shareholders’ equity was partially due to quarterly earnings of $1,446,000 through March 31, 2026. The Company also experienced an increase of $718,000 in unrealized losses on securities in 2026. The Company reported $29,646,000 and $28,929,000 in unrealized losses on the available for sale securities portfolio as of March 31, 2026, and December 31, 2025, respectively. These unrealized losses are presented in accumulated other comprehensive income for the respective periods. The cause of the unrealized losses has primarily resulted from higher interest rates that have impacted the current market value of available for sale securities. The unrealized losses are not related to any credit deterioration within the portfolio. The Company has maintained strong liquidity and continues to do so; therefore, the Company does not foresee a sale of any affected securities that would cause the realization of these losses by the Company as part of net income in the near future.
The Bank’s leverage ratio has not been impacted by these unrealized losses on available for sale securities due to an opt-out election previously made by the Bank in accordance with current regulatory capital requirements and therefore remained strong at 14.15% as of March 31, 2026.
Liquidity The Company maintains a well-capitalized balance sheet which includes strong capital and liquidity. The Bank provides a full range of banking, financial and trust services in our local markets. The majority of the Bank’s deposits are fully FDIC insured. The Company evaluates on an ongoing and continuous basis its financial health by preparing for various moderate to severe economic scenarios.
As interest rates have increased and the cost of attracting new deposits and replacing deposit attrition has increased, the Bank experienced a decrease in deposit balances during the twelve months ended December 31, 2025. As of March 31, 2026 total deposits have increased $61,760,000 to $666,189,000 from $604,429,000 as of December 31, 2025. This is mainly due to an influx of public fund tax deposits during the first and last quarters of 2026 and 2025 that are slowly allocated by the public accountholders throughout the year.
About the Company Founded in 1896, with $788 million in total assets as of March 31, 2026, The Peoples Bank operates 18 bank facilities along the Mississippi Gulf Coast in Hancock, Harrison, Jackson and Stone counties. In addition to offering a comprehensive range of retail and commercial banking services, the Bank also operates a trust and investment services department that has provided customers with financial, estate and retirement planning services since 1936.
Peoples Financial Corporation’s common stock is listed on the OTCQX Best Market under the symbol PFBX. Additional information is available on the Internet at the Company’s website, www.thepeoples.com, and at the website of the Securities and Exchange Commission (“SEC”), www.sec.gov.
This news release reflects industry conditions, Company performance and financial results and contains “forward-looking statements,” which may include forecasts of our financial results and condition, expectations for our operations and businesses, and our assumptions for those forecasts and expectations. Do not place undue reliance on forward-looking statements. These forward-looking statements are subject to a number of risk factors and uncertainties which could cause the Company’s actual results and experience to differ materially from the anticipated results and expectation expressed in such forward-looking statements.
Factors that could cause our actual results to differ materially from our forward-looking statements are described under “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Regulation and Supervision” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in other documents subsequently filed by the Company with the Securities and Exchange Commission, available at the SEC’s website and the Company’s website, each of which are referenced above. To the extent that statements in this news release relate to future plans, objectives, financial results or performance by the Company, these statements are deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are generally identified by use of words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology.
Forward-looking statements represent management’s beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements. All information is as of the date of this news release. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.
PEOPLES FINANCIAL CORPORATION (In thousands, except per share figures) (Unaudited)
EARNINGS SUMMARY
Three Months Ended March 31,
2026
2025
Net interest income
$
5,767
$
5,668
Provision for credit losses
(8
)
(5
)
Non-interest income
1,781
1,703
Non-interest expense
5,708
5,691
Income tax expense (benefit)
402
375
Net income
1,446
1,310
Earnings per share
$
0.31
$
0.28
TRANSACTIONS IN THE ALLOWANCE FOR CREDIT LOSSES ON LOANS
Three Months Ended March 31,
2026
2025
Allowance for credit losses on loans, beginning of period
$
2,939
$
2,982
Recoveries
218
40
Charge-offs
(57
)
(53
)
Provision for (reduction of) loan losses
—
—
Allowance for credit losses on loans, end of period
$
3,100
$
2,969
PERFORMANCE RATIOS
March 31,
2026
2025
Return on average assets
0.77
%
0.62
%
Return on average equity
5.81
%
5.76
%
Net interest margin
3.12
%
2.98
%
Efficiency ratio
76
%
77
%
BALANCE SHEET SUMMARY
March 31,
2026
2025
Total assets
$
788,260
$
866,613
Securities
407,535
482,810
Loans, net
265,714
228,676
Other real estate (ORE)
—
9
Total deposits
666,189
751,991
Shareholders’ equity
101,395
94,455
Book value per share
21.96
20.46
Weighted average shares
4,617,466
4,617,466
PERIOD END DATA
March 31,
2026
2025
Allowance for credit losses on loans as a
percentage of loans
1.15
%
1.28
%
Loans past due 90 days and
still accruing
$
—
$
61
Nonaccrual loans
$
517
$
441
Leverage ratio
14.15
%
13.32
%
For more information, contact: Chevis C. Swetman, President and CEO 228-435-8205 cswetman@thepeoples.com
FAQ
What were Peoples Financial Corporation (PFBX) Q1 2026 earnings and EPS?
Net income for Q1 2026 was $1,446,000 and EPS was $0.31. According to the company, this compares with net income of $1,310,000 and EPS $0.28 in Q1 2025, based on 4,617,466 weighted average shares.
How did Peoples Financial Corporation (PFBX) net interest income perform in Q1 2026?
Net interest income for Q1 2026 was $5,767,000, up $99,000 year-over-year. According to the company, higher interest income and fees on loans drove the increase despite lower interest expense.
What is Peoples Financial Corporation’s (PFBX) asset and loan size as of March 31, 2026?
Total assets were $788.26 million and net loans were $265.714 million as of March 31, 2026. According to the company, the Bank operates 18 facilities along the Mississippi Gulf Coast.
Why did Peoples Financial Corporation (PFBX) report large unrealized losses on securities?
Unrealized losses on available-for-sale securities were $29.646 million, primarily from higher interest rates lowering market values. According to the company, these losses are unrealized and not related to credit deterioration.
How did deposits change for Peoples Financial Corporation (PFBX) in Q1 2026?
Total deposits were $666.189 million at March 31, 2026, reflecting a decline versus March 31, 2025. According to the company, an influx of public fund tax deposits boosted balances since December 31, 2025.
