Peoples Financial reviewing LIHTC investment accounting; may restate 2018 or earlier periods

PEOPLES FINANCIAL CORP /MS/

Evaluating GAAP treatment of a Low Income Housing Tax Credit investment under ASC 323.
Potential non-cash changes to historical GAAP results for periods ending Dec 31, 2018 or earlier.
No expected impact on cash flows, dividends, or employee compensation.
Review authorized by Board, supervised by Audit Committee; analysis not yet complete.

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