secwatch.observer — SEC 8-K summary
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Issuer:     PEOPLES FINANCIAL CORP /MS/ (PFBX)
CIK:        0000770460
Form:       8-K
Filed at:   2024-04-24T23:59:59+00:00
Accession:  0001437749-24-013045
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Peoples Financial Q1 net income down 8% to $2.4M, announces $1M stock buyback
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- Net income $2.415M ($0.52 diluted EPS) vs $2.623M ($0.56) in Q1 2023, down 8%.
- Net interest income fell $357K to $6.693M; higher rates boosted interest income but interest expense surged.
- Board approved stock repurchase up to $1M or ~64K shares; shares will be retired.
- Total deposits increased $123M to $811.5M, driven by government tax collections and new public fund customers.
- Unrealized losses on AFS securities rose to $40.9M; Bank leverage ratio remains strong at 11.48%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/770460/000143774924013045/0001437749-24-013045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/770460/000143774924013045/pfbx20240422_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-013045

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