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Mississippi bank to shift shares to over-the-counter market

A south Mississippi bank will voluntarily shift trading in its stock from a small-company stock market to an over-the-counter exchange.

Peoples Financial Corp. Chairman Chevis Swetman says in a statement that directors made the shift to cut costs.

The company is the parent of The Peoples Bank, which operates 18 branches and has $657 million in assets.

The last day for Peoples on the NASDAQ Capital Market is planned for Dec. 15. Peoples plans to begin trading on the OTC Market Group’s OTCQX Best Market on Dec. 18. The company will keep the same ticker symbol, PFBX.

Peoples says its financial statements will continue to be audited and the company will continue to publish quarterly financial information through press releases, postings on the OTCQX website and the company’s website.

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