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Peoples Financial (NASDAQ: PFBX) Stilwell group files Form 4 insider buy

Filing Impact
(Neutral)
Filing Sentiment
(Positive)
Form Type
4

Rhea-AI Filing Summary

Peoples Financial Corp (PFBX) received a Form 4 filing from investment entities associated with Joseph Stilwell, which together form a Section 13(d) group that beneficially owns more than 10% of the company’s common stock. The filing reports that Stilwell Activist Investments, L.P. purchased 500 shares of common stock on January 9, 2026 at $20.50 per share, bringing its indirectly reported holdings to 417,547 shares. The filing also shows indirect holdings of 67,505 shares by Stilwell Activist Fund, L.P. and 205,760 shares by Stilwell Value Partners VII, L.P., with Joseph Stilwell disclaiming beneficial ownership of these indirectly held shares except to the extent of his economic interest.

Positive

  • None.

Negative

  • None.
Insider Stilwell Joseph, Stilwell Value LLC, Stilwell Value Partners VII, L.P., Stilwell Activist Fund, L.P., Stilwell Activist Investments, L.P.
Role 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
Bought 500 shs ($10K)
Type Security Shares Price Value
Purchase Common Stock 500 $20.50 $10K
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 417,547 shares (Indirect, See footnote)
Footnotes (1)
  1. These shares are owned directly by Stilwell Activist Fund, L.P. ("SAF") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC ("Value"), which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein. These shares are owned directly by Stilwell Value Partners VII, L.P. ("SVP VII") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein. These shares are owned directly by Stilwell Activist Investments, L.P. ("SAI") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Stilwell Joseph
(Last) (First) (Middle)
200 CALLE DEL SANTO CRISTO
(Street)
SAN JUAN PR 00901
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
PEOPLES FINANCIAL CORP /MS/ [ PFBX ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
01/09/2026
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 67,505 I See footnote(1)
Common Stock 205,760 I See footnote(2)
Common Stock 01/09/2026 P 500 A $20.5 417,547 I See footnote(3)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
1. Name and Address of Reporting Person*
Stilwell Joseph
(Last) (First) (Middle)
200 CALLE DEL SANTO CRISTO
(Street)
SAN JUAN PR 00901
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Stilwell Value LLC
(Last) (First) (Middle)
111 BROADWAY, 12TH FLOOR
(Street)
NEW YORK NY 10006
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Stilwell Value Partners VII, L.P.
(Last) (First) (Middle)
111 BROADWAY, 12TH FLOOR
(Street)
NEW YORK NY 10006
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Stilwell Activist Fund, L.P.
(Last) (First) (Middle)
111 BROADWAY, 12TH FLOOR
(Street)
NEW YORK NY 10006
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Stilwell Activist Investments, L.P.
(Last) (First) (Middle)
111 BROADWAY, 12TH FLOOR
(Street)
NEW YORK NY 10006
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. These shares are owned directly by Stilwell Activist Fund, L.P. ("SAF") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC ("Value"), which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein.
2. These shares are owned directly by Stilwell Value Partners VII, L.P. ("SVP VII") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein.
3. These shares are owned directly by Stilwell Activist Investments, L.P. ("SAI") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein.
Remarks:
The reporting persons are jointly filing this statement as members of a Section 13(d) group that beneficially owns more than 10% of the issuer's common stock.
/s/ Joseph Stilwell as authorized agent for Stilwell Value Partners VII, L.P. 01/12/2026
/s/ Joseph Stilwell as authorized agent for Stilwell Activist Fund, L.P. 01/12/2026
/s/ Joseph Stilwell as authorized agent for Stilwell Activist Investments, L.P. 01/12/2026
/s/ Joseph Stilwell 01/12/2026
/s/ Joseph Stilwell as authorized agent for Stilwell Value LLC 01/12/2026
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What insider activity did the Stilwell entities report for PFBX?

The filing reports that Stilwell Activist Investments, L.P. purchased 500 shares of Peoples Financial Corp common stock on January 9, 2026 at a price of $20.50 per share.

Which entity actually bought the 500 PFBX shares on January 9, 2026?

The 500-share purchase was made by Stilwell Activist Investments, L.P., which is reported as owning 417,547 shares of Peoples Financial Corp common stock after the transaction.

Does Joseph Stilwell personally own the PFBX shares reported in this Form 4?

The shares are owned directly by the limited partnerships, and the filing states that Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest in each entity.

Why are multiple reporting persons listed in this PFBX Form 4?

The filing is made jointly by Joseph Stilwell, Stilwell Value LLC, and the three Stilwell funds as members of a Section 13(d) group that beneficially owns more than 10% of Peoples Financial Corp’s common stock.

Is this PFBX Form 4 transaction a purchase or a sale?

It is reported as a purchase, with transaction code P indicating the acquisition of 500 shares of Peoples Financial Corp common stock.