Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  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



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
04:09a BAKKAFROST /F : Q3 2015 trading update
04:08a RESEARCH AND MARKETS : Global Liquid Feed Market By Ingredients, Supplements, Animal Type & Geography - Trends & Forecasts 2015-2020
04:07a ALFA LAVAL : Invitation to Alfa Laval’s third-quarter conference call
04:06a PSI : erneuert Netzleitsysteme der Regionalversorgungsunternehmen der E.ON Deutschland (DGAP News)
04:06a PSI : Renews Network Control System for the E.ON Deutschland Regional Supply Companies (DGAP News)
04:04a AKERS BIOSCIENCES : To Launch Two New Health Breath Tests
04:04a ORECORP : 6/10/2015 - Change of Director's Interest Notice - Craig Williams
04:04a SYNERGY HEALTHCARE : Rule 2.11 Announcement
04:04a RENAULT : Two new limited-edition Dacias: the Duster Steel and the Sandero Music
04:04a MINISTRY OF FINANCE OF STATE OF JAPAN : Issues Re-opened through the Auction for Enhanced-liquidity on October 6, 2015
Latest news
Hot News 
SPARK VENTURES : Net Asset Value Update
AQUARIUS PLATINUM UK : Surges As It Recommends Sibanye Takeover Bid
DRIVER : Pre Close Trading Update
INDEPENDENT RESOURCES : Acquisition of Producing Assets in Egypt
BTG : close period update
Most Read News
10/05 PSA PHILIPPINE STATISTICS AUTHORITY : Producer Price Survey : August 2015
10/05 UNIVERSITY OF ADELAIDE : Tequila plant shows promise for biofuel
10/05 British Airways' last flight out of Uganda
10/05 QT Vascular Announces Interim Clinical Trial Results Of Chocolate Touch
10/05 Open Monoclonal Technology Announces OmniAb(TM) Alliance With Five Prime
Most recommended articles
04:03aDJLONDON MARKETS : FTSE Set To Break Four-day Winning Streak
03:45aDJIndia Services Activity Slows in September
03:25aDJSABMiller Hit by Weaker Emerging-Market Currencies
03:23a VW's South Korea September sales fall 7.8 percent vs August as emissions scandal weighs