secwatch.observer — SEC 8-K summary
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Issuer:     PEOPLES FINANCIAL CORP /MS/ (PFBX)
CIK:        0000770460
Form:       8-K
Filed at:   2024-10-23T23:59:59+00:00
Accession:  0001558370-24-013528
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Peoples Financial Q3 net income jumps to $15.4M on $15.2M deferred tax asset reversal; pre-tax income falls 40%
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- Q3 2024 net income $15.4M ($3.31 EPS) vs $1.9M ($0.41 EPS) a year ago; includes $15.2M one-time tax benefit from valuation allowance reversal.
- Pre-tax income fell to $1.3M from $2.2M due to $1.1M increase in interest expense from higher deposit rates.
- Nine-month net income $20.2M ($4.33 EPS) vs $7.4M ($1.59 EPS); excluding tax benefit, pre-tax income down 28% to $6.5M.
- Unrealized losses on AFS securities declined to $32.1M from $50.7M a year ago; bank leverage ratio strong at 13.48%.
- Deposits decreased $22.4M since year-end 2023 to $666.1M; gross loans up $9.6M to $239.3M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/770460/000155837024013528/0001558370-24-013528-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/770460/000155837024013528/pfbx-20241023x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-013528

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