Peoples Financial Q4 net income down 11% YoY to $1.528M; announces new buyback plan, annual meeting date

PEOPLES FINANCIAL CORP /MS/

2024-FY EPS reported $4.66

Q4 2024 net income $1.528M ($0.33 EPS) vs $1.723M ($0.37 EPS) in Q4 2023, driven by higher noninterest expense and interest expense.
Full-year 2024 net income $21.703M ($4.66 EPS) includes $15.194M one-time tax benefit from reversal of valuation allowance; pre-tax income fell to $8.380M from $11.287M.
New stock repurchase program: up to 40,000 shares or $750,000 aggregate price, expiring Dec 31, 2025; prior $1M plan repurchased 44,220 shares.
Annual meeting of shareholders scheduled for April 23, 2025; common shares outstanding 4,617,466 as of Dec 31, 2024.
Bank leverage ratio remained strong at 13.95%; shareholders' equity increased to $90.0M from $69.3M.

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