Peoples Financial Q3 net income up 58% to $1.75M; equity drops 50% on AFS unrealized losses

PEOPLES FINANCIAL CORP /MS/

Q3 2022 net income $1.75M ($0.37 EPS) vs $1.11M ($0.23 EPS) in Q3 2021, a 58% increase.
Nine-month net income fell 40.7% to $3.69M ($0.79 EPS) from $6.23M ($1.28 EPS) due to prior-year non-recurring loan recovery.
Shareholders' equity dropped 49.5% to $47.7M from $94.4M, driven by $45.1M unrealized losses on AFS securities from rising rates.
Cash dividend of $0.10 per share declared, payable Nov 10, 2022 to holders of record Nov 7.
Acquired Trustmark corporate trust business for $650k, closed Aug 15, 2022.

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