Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Peoples Financial Corporation : ANNOUNCES STOCK REPURCHASE

02/28/2013 | 03:26am US/Eastern

FOR IMMEDIATE RELEASE For more information, contact: February 27, 2013 Dennis J. Burke, VP, Business Development The Peoples Bank

228-435-8646

PEOPLES FINANCIAL CORPORATION ANNOUNCES STOCK REPURCHASE

BILOXI, MS (February 27, 2013)-The Board of Directors of Peoples Financial Corporation (NASDAQ Capital Market: PFBX), parent of The Peoples Bank, has authorized the repurchase of up to 20,000 common shares under the terms of the Company's 2009 plan, according to Chevis C. Swetman, chairman and chief executive officer of the holding company and the bank.
"We suspended the 2009 repurchase in the face of a deteriorating economy and to preserve capital," said Swetman. "Today our stock is trading at about half its book value, and our Directors have concluded that a measured repurchase at this time is an attractive use of capital under the current economic conditions," he added.
The 2009 plan provides for the repurchase of up to 3% of the Company's outstanding common stock or approximately
150,000 shares. When suspended, the program had repurchased and retired 34,024 shares.
Shares will be repurchased at the discretion of management either on the open market or through private transactions, and the repurchased shares will be retired, said Swetman. As of February 27, 2013, the Company reported 5,136,918 shares outstanding.
Founded in 1896, with $805 million in assets as of December 31, 2012, The Peoples Bank operates 16 branches along the Mississippi Gulf Coast in Hancock, Harrison, Jackson and Stone counties. In addition to 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.
The Peoples Bank is a wholly-owned subsidiary of Peoples Financial Corporation, listed on the NASDAQ Capital Market under the symbol PFBX. Additional information is available on the Internet at www.thepeoples.com.

Forward-Looking Statements

This news release contains forward-looking statements and reflects industry conditions, company performance and finan- cial results. 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 from the anticipated results and expectation expressed in such for- ward-looking statements.

distributed by
React to this article
Latest news
Date Title
10:31p MALAYAN BANKING BERHAD : Lucky winners drive off with Toyota Hilux in Maybank SME campaign
10:27pDJASIAN SHARES : China Shares Fall Amid Doubts Over Beijing's Rescue--Update
10:26p INTERNET INITIATIVE JAPAN : IIJ Launches "IIJ Unified Security Solution" for Quickly Detecting Cyberattacks
10:25p Crude Oil Drops Most in 7 Months, SPX 500 Closes Weekly Open Gap
10:24p PAKISTAN STATE OIL : In between: Confusion persists over the seat of PSO MD
10:21p HYUNDAI : Heavy Industries and GE Receive AIP for the World’s First Gas Turbine-Powered LNG Carrier
10:21p AUSENCO : and Duro Felguera form Alliance to jointly pursue global EPC projects
10:20p More than 200 Chinese firms say to halt trading - Securities Times
10:17p HAMBURGER HAFEN UND LOGISTIK : Confirms 2015 Earnings Target For Group
10:16p South Korea court denies Elliott injunction request against Samsung C&T stake sale
Latest news
Advertisement
Hot News 
OPPORTUNITY INVEST MGMT : 6 juli 2015 - PRESS RELEASE: further notification annual accounts
INTERCEDE : Quarterly Revenue Doubles On Year Before, Outlook Positive
BILLINGTON : Set To Beat Market View After Strong First Half Trading
HORIZON GLOBAL : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Change in Directors or Principal Officers, Other Events, Financial Statements and Exhibits (form 8-K)
ASK : Six-months liquidity contract statement as of 30 june 2015
Most Read News
08:23p Boeing says loss of Ex-Im Bank would be competitive disadvantage
06:16p CREDIT SUISSE : says has around 27 billion Swiss francs of recapitalisation resources
06:01p TerraForm to buy wind farms in North America for $2 billion
06:32p Aetna CEO addresses antitrust concerns over Humana deal
08:01p Samsung Elec second quarter profit below forecast after S6 supply shortage
Most recommended articles
10:27pDJASIAN SHARES : China Shares Fall Amid Doubts Over Beijing's Rescue--Update
10:25p Crude Oil Drops Most in 7 Months, SPX 500 Closes Weekly Open Gap
10:20p More than 200 Chinese firms say to halt trading - Securities Times
10:16p South Korea court denies Elliott injunction request against Samsung C&T stake sale
10:15p SHERYL SANDBERG : Facebook executive Sheryl Sandberg joins board of SurveyMonkey