-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, E8lfIO5FUcr5UrNPrASHdjTfwbunD96qpAoEGihP5uFeAVvAiDHxEifsGtL89JIz 0odv0MBbsRjEKGEsc3lvIg== 0000950134-03-003239.txt : 20030228 0000950134-03-003239.hdr.sgml : 20030228 20030228170919 ACCESSION NUMBER: 0000950134-03-003239 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030228 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030228 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PEOPLES FINANCIAL CORP /MS/ CENTRAL INDEX KEY: 0000770460 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 640709834 STATE OF INCORPORATION: MS FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12103 FILM NUMBER: 03587458 BUSINESS ADDRESS: STREET 1: 152 LAMEUSE STREET STREET 2: P O BOX 529 CITY: BILOXI STATE: MS ZIP: 39530 BUSINESS PHONE: 2284355511 MAIL ADDRESS: STREET 1: P O BOX 529 CITY: BILOXI STATE: MS ZIP: 39533-0529 8-K 1 d03485e8vk.txt FORM 8-K FORM 8 - K CURRENT REPORT Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 February 28, 2003 Date of Report (Date of earliest event reported) PEOPLES FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) Mississippi 0-30050 64-0709834 (State or other jurisdiction of (Commission File Number) (IRS Employer Identification No.) incorporation)
152 Lameuse Street Biloxi, MS 39530 (Address, including zip code, of principal executive office) (228) 435-5511 (Registrant's telephone number, including area code) ITEM 5. OTHER EVENTS On February 28, 2003, Peoples Financial Corporation issued a press release announcing an addition to its 2002 loan loss provision. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits. 99. Press Release issued by Peoples Financial Corporation dated February 28, 2003, headed "Peoples Financial Corporation adds to Loan Loss Provision." SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: February 28, 2003 PEOPLES FINANCIAL CORPORATION By: /s/ Chevis C. Swetman ------------------------------------ Chevis C. Swetman Chairman, President and CEO INDEX TO EXHIBITS
EXHIBIT NO. DESCRIPTION ----------- ----------- 99. Press Release issued by Peoples Financial Corporation dated February 28, 2003, headed "Peoples Financial Corporation adds to Loan Loss Provision."
EX-99 3 d03485exv99.txt PRESS RELEASE Exhibit 99: Peoples Financial Corporation Press Release Dated February 28, 2003 For more information, contact: FOR IMMEDIATE RELEASE M.O. Lawrence, III Investor Relations 228-435-435-8208 mlawrence@thepeoples.com PEOPLES FINANCIAL CORPORATION ADDS TO LOAN LOSS PROVISION BILOXI, MS (February 28, 2003)-- Peoples Financial Corporation (NASDAQ Small Cap: PFBX), parent of The Peoples Bank, today added $1.5 million before taxes to its 2002 loan loss reserves, announced Chevis C. Swetman, chairman and chief executive officer. The loan loss provision impacts previously reported 2002 earnings by $1 million after taxes, said Swetman. Following the addition to the reserves, net income for 2002 totals $3.19 million or $.57 per share. "This addition to our reserves relates to one specific event involving a single customer," said Swetman. "We currently believe that this addition to reserves covers the bank's exposure, but we will continue to monitor the situation in case subsequent events occur on this case. "The board and management of the bank determined that the situation warranted immediate, even though painful, action. We remain committed to resolving credit-quality problems rapidly, even at the expense of short-term earnings. In spite of this provision, our institution's capital ratios remain among the best in the country, nearly three times the regulatory requirements," added Swetman. The specific event affecting the loan occurred in 2002 but did not surface until after accounts were closed and earnings were announced on January 10, 2003. The additional reserve was charged to fourth quarter, 2002 earnings. Founded in 1896 with more than $550 million in assets today, The Peoples Bank operates 15 full service branches and 50 ATMs along the Mississippi Gulf Coast in Hancock, Harrison, Jackson and Stone counties. The Peoples Bank is a wholly-owned subsidiary of Peoples Financial Corporation, listed on the NASDAQ Small Cap Market under the symbol PFBX. Additional information is available on the Internet at www.thepeoples.com. (Statements in this news release that are not historical facts should be considered forward-looking statements with respect to Peoples Financial Corporation. Management believes these forward-looking statements are reasonable; however, they are based on current expectations and speak only as of the date of this release. Forward-looking statements are estimates and projections reflecting management's judgment and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Various factors, including but not limited to economic conditions, credit quality, interest rates, loan demand, changes in regulations and changes in the assumptions used in making forward-looking statements, could cause actual results to differ materially from those contemplated by the forward-looking statements. Additional factors that could affect Peoples financial results are listed in the Company's filings with the Securities and Exchange Commission.) -----END PRIVACY-ENHANCED MESSAGE-----