Peoples Financial amends director deferred comp plan; rate cut from 10% to prime (3.25%)

PEOPLES FINANCIAL CORP /MS/

Amendment effective Jan 1, 2022 changes interest on deferred fees from fixed 10%/7.5% to Chase Manhattan Prime Rate.
Current prime rate is 3.25%, down from previous 10% before payments and 7.5% after payments commence.
Change reduces future interest expense for The Peoples Bank on director deferred compensation liabilities.
Plan previously disclosed in 2021 proxy; adjustment aligns rates with current market conditions.

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