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

4-Traders Homepage  >  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
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



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
Latest news
Date Title
04:39p Digitalisation Tops Agenda on Opening Day of Sea Asia 2017
04:39p PREMIER ENERGY & WATER TRUST : PEWT Securities 2020 Plc - Directorship Change
04:39p AKORN, INC. : Levi & Korsinsky, LLP Announces an Investigation Into Whether the Sale of Akorn, Inc. to Fresenius Kabi for $34 Per Share is Fair to Shareholders - AKRX
04:38p Trudeau vows to defend Canada interests as U.S. targets lumber, C$ falls
04:38p PVI : confident of prospects after PVN divestment
04:38p NEC : RTI-C, NEC launch of Hong Kong-Guam submarine cable construction
04:38p Apparel Company Mad Engine Acquires LRG (Lifted Research Group)
04:38p PEWT SECUP : Premier Energy and Water Trust Plc - Directorship Change
04:37p FIDESSA : Director/PDMR Shareholding – SIP Purchase
04:37p MEDICX FUND : Issue of ordinary shares
Latest news
Hot News 
11.75%LVMH's Arnault swoops to take full control of Christian Dior
-7.39%WHITBREAD : Britain's Costa Coffee-owner Whitbread sees tougher times ahead
6.31%AHEAD OF THE TAPE : Caterpillar Rally Has Heavy Lift To Endure -- WSJ
4.08%LVMH : to Buy Christian Dior Couture for EUR6 Billion
4.09%MCDONALD : All-Day Breakfast Still a Boon
Most Read News
04/24 Ahead of NAFTA talks, U.S. sets 20 percent duties on Canadian softwood lumber
10:28a Germany opposes key EU car emission test reforms -document
02:35aDJLVMH : to Buy Christian Dior Couture for EUR6 Billion
08:57a LVMH's Arnault swoops to take full control of Christian Dior
Most recommended articles
04/21 TWENTY FIRST CENTURY FOX : Government extends period for regulators to report on Sky-Fox merger
10:33aDJ3M : Boosts Annual Outlook Following Strong First Quarter -- Update
10:30a COCA COLA : to cut 1,200 jobs, boosts savings target
10:28a Germany opposes key EU car emission test reforms -document
10:20a Nestle to cut almost 300 UK jobs, move some production to Poland