---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-011954"
form_type: "8-K"
ticker: "PFBX"
cik: "0000770460"
company_name: "PEOPLES FINANCIAL CORP /MS/"
filed_at: "2022-05-11T23:59:59+00:00"
generated_at: "2026-06-25T21:17:49.688956+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Peoples Financial Q1 net income $887K, down 79% YoY; discloses $2.11M accounting error

## Summary
- Net income $887K ($0.19 EPS) vs $4.33M ($0.89 EPS) in Q1 2021; weighted shares 4.68M vs 4.88M.
- Prior-year period included $4.85M reduction in allowance for loan losses (recovery of $4.51M charged-off loan) and $1.125M lawsuit settlement.
- Company identified cumulative $2.11M impairment error on LIHTC investment; correction to be reflected in Q1 2022 10-Q, deemed not material to prior periods.
- Shareholders' equity fell to $70.7M from $92.4M largely due to $19.3M unrealized losses on available-for-sale securities from interest rate changes.
- Risk-based capital ratio remained strong at 21.21% as of March 31, 2022.

## SEC filing metadata
- accession: 0001437749-22-011954
- form_type: 8-K
- ticker: PFBX
- cik: 0000770460
- company_name: PEOPLES FINANCIAL CORP /MS/
- filed_at: 2022-05-11T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/770460/000143774922011954/0001437749-22-011954-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/770460/000143774922011954/pfbx20220510_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-011954
- JSON: https://secwatch.observer/filing/0001437749-22-011954.json
- Plain text: https://secwatch.observer/filing/0001437749-22-011954.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.