Peoples Financial Corporation reported a net income of $897,000 for the second quarter of 2026, a decrease from $1,242,000 in the same period of 2025. For the first half of 2026, net income totaled $2,343,000, down from $2,552,000 in the prior year. The decline in profitability was attributed to lower interest income from securities and increased borrowing costs. The company's net interest income for the second quarter was $4,919,000, compared to $5,472,000 in the previous year, reflecting a decrease in the average yield on interest-earning assets from 4.09% to 3.90%.
Total assets increased to $771,025,000 as of June 30, 2026, up from $727,121,000 at the end of 2025. This growth was primarily driven by a rise in cash and due from banks, which increased by $4,473,000, and an increase in available-for-sale securities, which rose by $34,309,000. The loan portfolio also expanded, with gross loans increasing by $13,456,000, reaching $277,162,000, as new loans outpaced repayments and charge-offs.
In terms of operational metrics, total deposits rose to $609,777,000, an increase of $5,348,000 from the previous period. The company reported a slight increase in its allowance for credit losses, which stood at $3,100,000, reflecting ongoing monitoring of asset quality and potential losses in the loan portfolio. Nonaccrual loans decreased to $486,000 from $533,000, indicating improved management of non-performing assets.
Looking ahead, Peoples Financial Corporation remains focused on maintaining a strong capital foundation and managing liquidity effectively. The company is well-capitalized, with a community bank leverage ratio of 15.22% as of June 30, 2026, exceeding the regulatory minimum. Management anticipates continued growth through strategic lending and investment activities while navigating the challenges posed by fluctuating interest rates and economic conditions.
About PEOPLES FINANCIAL CORP /MS/
Peoples Financial Corporation is a bank holding company based in Biloxi, Mississippi, operating through its subsidiary, The Peoples Bank. It provides traditional banking services including loans, deposit accounts, asset management, and trust services primarily in Mississippi and surrounding states. The company emphasizes community banking, customer relationships, and regulatory compliance, offering competitive financial products and maintaining a network of branches and ATMs.
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