secwatch.observer — SEC 8-K summary
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Issuer:     PEOPLES FINANCIAL CORP /MS/ (PFBX)
CIK:        0000770460
Form:       8-K
Filed at:   2021-11-30T23:59:59+00:00
Accession:  0001437749-21-027549
Event type: other_material
Sentiment:  neutral
Materiality: 0.20
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/770460/000143774921027549/0001437749-21-027549-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/770460/000143774921027549/pfbx20211130b_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-21-027549

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