Profile: Peoples Financial Corp (PFBX.OQ)
4 Dec 2013
Peoples Financial Corporation is a bank holding company, which operates in the state of Mississippi through its wholly owned subsidiary, The Peoples Bank, Biloxi, Mississippi (the Bank). The Bank offers a range of services to individuals and small to middle market businesses within its trade area. The Bank’s primary lending focus is to offer business, commercial, real estate, construction, personal and installment loans, with an emphasis on commercial lending. Deposit services include interest bearing and non-interest bearing checking accounts, savings accounts, certificates of deposit, and individual retirement accounts (IRA) accounts. It also offers a non-deposit funds management account, which is not insured by the Federal Deposit Insurance Corporation (FDIC). The Bank provides depository accounts to individuals and small and middle market businesses in its trade area at interest rates consistent with market conditions.
The Bank’s Asset Management and Trust Services Department offers personal trust, agencies and estate services, including living and testamentary trusts, executorships, guardianships, and conservatorships. It also offers a range of services, including safe deposit box rental, wire transfer services, night drop facilities, collection services, cash management and Internet banking. As of December 31, 2011, the Bank has 51 automated teller machines (ATMs) at its branch locations and other off-site, non-proprietary locations, providing bank customers access to their depository accounts.
The loan portfolio of the Bank includes real estate construction loans, real estate mortgage loans, loans to finance agricultural production, commercial and industrial loans, loans to individuals for household, family and other consumer expenditures , obligations of states and political subdivisions, and all other loans. As at December 31, 2011, the total loans of the Bank was at $432,407,000.
As of December 31, 2011, the Bank’s investment portfolio included available for sale securities and held to maturity securities. The available for sale securities include the United States Treasuries, United States Government agencies and mortgage-backed securities, states and political subdivisions, and other securities. Its held to maturity included states and political subdivisions securities. As at December 31, 2011, the Bank’s available for sale securities was at $ 278,918,000. As at December 31, 2011, the Bank’s held to maturity securities was at $1,429,000.
Sources of Fund
The Bank’s deposits include demand deposits in domestic office, negotiable order interest bearing deposits in domestic offices, savings deposits in domestic offices, time deposits in domestic offices. As at December 31, 2011, the total deposits of the Bank was at $ 496,568,000.
Peoples Financial Corp
Lameuse and Howard Avenues
BILOXI MS 39533