secwatch.observer — SEC 8-K summary
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Issuer:     PEOPLES FINANCIAL CORP /MS/ (PFBX)
CIK:        0000770460
Form:       8-K
Filed at:   2024-07-24T23:59:59+00:00
Accession:  0001437749-24-023362
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Peoples Financial Q2 net income falls 20% to $0.50 EPS on higher deposit costs
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- Net income $2.33M vs $2.91M in Q2 2023; EPS $0.50 vs $0.62.
- Net interest income fell $1.3M to $5.9M as interest expense surged 93% to $2.79M.
- Income tax benefit of $229K vs $811K expense due to release of valuation allowance on tax credits.
- Deposits down $13.6M from year-end to $674.9M due to loss of public fund accounts in bids.
- Unrealized losses on AFS securities improved to $38.9M from $43.5M; leverage ratio 11.84%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/770460/000143774924023362/0001437749-24-023362-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/770460/000143774924023362/pfbx20240722_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-023362

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