Log in
E-mail
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
Latest news
Date Title
09:07a LLOYDS BANKING : *goldman cuts lloyds to 'sell' (neutral) - price target 50 (53) pence
09:06a SKYE BANK : Patience Jonathan Should Visit EFCC to Claim 'Her' $20 Million
09:06a OWNERSHIP OF U.S.$26 MILLION : Patience Jonathan Did No Wrong - Lawyer
09:05a MINISTRY OF ECONOMIC AFFAIRS OF REPUBLIC OF CH : Conference on APEC Green Energy Finance in Taipei Made a Hit Bureau of Energy
09:05a EGDON RESOURCES : Competent Person’s Report on the Wressle-1 Discovery and the Broughton North Prospect, Onshore UK
09:05a SAVANNAH RESOURCES : Cash Placement
09:05a LINE : 【LINE GAME】Puzzle Game "LINE POP Chocolat" Opens Pre-Registration Today
09:05a BRIT : launches new syndicate
09:05a BASF : completes acquisition of Guangdong Yinfan Chemistry
09:05a JOINT PRESS RELEASE : Grand Opening of the hydrogen filling station in Metzingen
Latest news
Advertisement
Hot News 
-0.23%INDUSTRIAL AND COML BANK OF CHINA : ICBC Financial Leasing Selling 3-Year and 5-Year USD Bonds -- Term Sheet
-0.73%NEWS : Publishing Trade Body Digital Content Next Announces Online Ad Marketplace
-0.54%SANOFI : FDA Accepts Sanofi's, Regeneron's Dermatitis Treatment for Priority Review
-0.32%VEOLIA ENVIRONNEMENT : France's CDC planning multiple stake sales - FT
0.10%NATIXIS : OPEC, Russia Have Gap to Close Ahead of Any Output-Freeze Deal
Most Read News
09/25 CHEMTURA : Germany's Lanxess to buy Chemtura for about $2.12 billion in cash
09/25 LANXESS : Announces Plan to Acquire Chemtura
09/25DJWHAT'S NEWS : Business & Finance
09/25 REDFLOW : To Cut Energy Bills, Companies Tap Battery Power
09/25DJHYUNDAI MOTOR : Workers on Full Strike for First Time in 12 Years
Most recommended articles
03:00a BANK OF EAST ASIA : Vistra, Permira among final bidders for $800 million unit of Bank of East Asia - sources
02:49aDJANHEUSER BUSCH INTERBREW : Miller Ads Attack Bud Light -- WSJ
02:49aDJTWITTER : Is Eyed To Spur Growth -- WSJ
02:49aDJGENERAL MOTORS : Auto Workers Win Pact In Canada -- WSJ
02:48aDJWHAT'S NEWS : Business & Finance -- WSJ