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Exhibit 99: Peoples Financial Corporation Press Release Dated January 2, 2001
FOR IMMEDIATE RELEASE: FOR MORE INFORMATION
January 2, 2001 M. O. Lawrence, III
Senior Vice President
(228) 435-8208
e-mail: [email protected]
Jennifer S. Crane
Assistant Vice President, Marketing
(228) 435-8643
e-mail: [email protected]
PEOPLES FINANCIAL CORPORATION ANNOUNCES SHARE REPURCHASE
Biloxi, Mississippi. Peoples Financial Corporation (NASDAQ: PFBX) today
announced the repurchase of 146,304 shares of Peoples Financial Corporation in a
cash transaction valued at $2,432,000. Chevis C. Swetman, Chairman of the Board
stated, "The repurchase of these shares represent an excellent opportunity for
Peoples to continue its on-going capital management program."
In May 2000, Peoples' Board of Directors implemented a capital management plan
which authorized the repurchase of up to 2 and one-half (2.5%) percent of the
Corporation's common stock. On December 8, 2000, Peoples' Board of Directors
authorized the 146,304 share repurchase, in addition to its existing share
repurchase program.
Including the shares repurchased today, approximately 213,770 shares have been
repurchased since the repurchase plan was implemented in May 2000. Peoples
Financial has remaining authorization to repurchase up to 79,000 shares. The
repurchase program continues to be subject to market conditions and management
discretion and will continue to be implemented through open market purchases or
privately negotiated transactions as previously disclosed.
Peoples Financial Corporation is listed on the NASDAQ Small Cap Market under the
symbol PFBX.
Peoples Financial Corporation, headquartered in Biloxi, Mississippi, is the
parent company of The Peoples Bank, Biloxi, Mississippi. Additional information
may also be located at their website, www.thepeoples.com.
