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

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

Peoples Financial Corporation : ANNOUNCES STOCK REPURCHASE

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/28/2013 | 09:26am CEST

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
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news
Date Title
04:21a RTG MINING : files March 2016 quarterly activities report to the ASX
04:12a MANCHESTER UNITED : Leicester City to play for EPL crown against Manchester United
04:01a Derma Essence Facial Serum – Critical Information Released
03:54a QAF : Resolutions passed at the Annual General Meeting
03:51a SEAWORLD ENTERTAINMENT : CEO Joel Manby meets with, reassures pass holders
03:51a OFFICIALS : Suspect pepper sprayed, stole car from Papa John's delivery driver
03:50aDJChina's Nonmanufacturing PMI Fell in April
03:34a AT&T : The Modesto Bee Jeff Jardine column
03:29a HAVYARD ASA : Annual report 2015
03:24a AADHAAR VENTURES INDIA : to Keep Track of Juveniles
Latest news
Advertisement
Hot News 
ANDALAS ENERGY AND POWER : Issue of Zero Coupon Loan Note
6D GLOBAL TECHNOLOGIES, INC : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)
AVOLON : sustains strong performance as fleet increases to over 400 aircraft
PETRO MATAD : Expecting "Highly Material" Compensation From Partner
HML : Director Dealing April 2016
Most Read News
07:05p Inbox Blueprint 2.0 – Anik Singal Launches an Easy to Follow Online Marketing Program for Beginners in Email Marketing
07:42p LIPOSUCTION VS. TUMMY TUCK : Which Is Right for Me?
07:39p ACF AUSTRALIAN CONSERVATION FOUNDATION : Coal or coral? Greens plan puts choice in focus
07:38p Dr. Richard Balikian Now Can Treat Acne Scars With Lasers and Fillers
07:40p DR. BORIS ACKERMAN : Discusses Breast Augmentation After 40
Most recommended articles
09:50pDJChina's Nonmanufacturing PMI Fell in April
09:12pDJMARKET SNAPSHOT : Wall Street Isn't Rewarding Low-expectation Earnings Beats
09:11p China April official manufacturing activity expands at slower pace of 50.1 - PMI
07:47p Italy bank fund to own at least 92 percent of Pop Vicenza after cash call
07:18p PHILIP GREEN : UK lawmakers ask Philip Green to testify in BHS pensions inquiry