Peoples Financial (PFBX) Approves Stock Buyback Plan
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Peoples Financial Corporation (Nasdaq: PFBX) has authorized the repurchase of 2.5% or about 133,000 of the outstanding shares of the Company, announced Chevis C. Swetman, chairman and chief executive officer of the holding company and the bank.
"While our common stock has gained about 10% over the past 12 months and has outperformed the major indices by wide margins, we believe the current price still does not reflect its long term value," said Swetman. "Our strong capital base gives us the ability to deploy our resources for the benefit of our stockholders, even in the face of one of the most wrenching financial crises since the Great Depression," he added.
Peoples Financial Corporation operates as the bank holding company for The Peoples Bank, which provides banking services to individuals and small to middle market businesses in Mississippi. [SM]
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