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Tag Archives: The Peoples Bank

Hattiesburg banker elected as President of Mississippi Young Bankers

Wes Rouse of Magnolia State Bank in Hattiesburg has been elected to serve as President of Mississippi Young Bankers, a section of the Mississippi Bankers Association. Bob Glover of The Peoples Bank in Ripley was elected Vice-President, and Marc Petro of Community Bank in Ridgeland is Treasurer. MYB conducts programs around the state about personal finance. The section also promotes ...

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Bass earns designation

Veteran banker Danny Bass recently earned the Certified Trust and Financial Advisor designation, according to Chevis C. Swetman, Chairman and Chief Executive Officer of the Peoples Bank financial holding company. Bass is a Vice President/Trust Officer at The Peoples Bank Asset Management and Trust Department. He is a graduate of the University of Southern Mississippi with a degree in Business ...

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Peoples Bank reports quarterly loss due to bad loans

BILOXI — The parent of The Peoples Bank reported a net loss of $1.8 million for the quarter ending Sept. 30. Peoples Financial Corporation CEO Chevis Swetman says the loss stemmed primarily from issues with two loans. Swetman says the bank’s fundamentals remain sound, though it was forced to write down one loan and move a second to nonaccrual status. ...

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Peoples records weaker quarter-over-quarter net income

BILOXI — Peoples Financial Corporation (NASDAQ Capital Market: PFBX), parent of The Peoples Bank, reported net income of $579,000 for the first quarter of 2014. First quarter earnings this year were 4.5 percent below the same period in 2013, but reversed a loss of $883,000 recorded in fourth quarter of 2013 due primarily to a number of actions on certain ...

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Ground broken for apartments serving disabled, homeless veterans

BILOXI — Officials have broken ground on an apartment complex in Biloxi that will serve disabled, homeless veterans. HomePort II, the second phase of a project completed on the same site in December 2012, will have a total of six units to house disabled, homeless veterans. Representatives from the Federal Home Loan Bank of Dallas (FHLB Dallas) and The Peoples ...

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Swetman: Peoples' profit 'not at the levels we would wish'

BILOXI — Peoples Financial Corporation, parent of The Peoples Bank, reported net income of $886,000 for the third quarter of 2013, an increase of 18 percent over the same period a year ago. Earnings year to date in 2013 were impacted in the second quarter by a large loan loss provision mostly related to a single, out of area residential ...

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The money’s there, but small businesses put borrowing aside

Bankers say they have the money to lend small businesses but they see owners staying on the sidelines rather than borrowing. Chevis Swetman, chairman of the board and chief executive officer of The Peoples Bank in Biloxi, neatly sums up small business owners’ hesitancy: “Three little words: Fear, uncertainty and doubt.” The Peoples Bank has 16 branches in four coastal ...

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Guichet named VP

Paul Guichet has been named vice president of business development at The Peoples Bank. Guichet, a New Orleans native and longtime resident of the Mississippi Gulf Coast, has been in banking for three decades, including positions in retail banking, personal trust and commercial product development. He has experience in comprehensive financial services, mergers and acquisitions, communications, investor relations and business ...

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Private business facing another year of cloudy fiscal outlook

It’s often been said it takes a lean dog to run a long race. And with that in mind, staying lean is a likely survival strategy for Mississippi’s private businesses heading into 2013. Even companies with fat cash reserves are keeping lean, preferring to horde their money until signs of an economic turnaround become clearer. They’ll stay that way until ...

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Refinance activity strong in state as people take advantage of record low rates

The flip side of the housing bubble burst is that interest rates are as low as people are likely to see in their lifetimes. That combined with the government’s HARP II program to help distressed homeowners stay in their homes are reducing mortgage amounts, and contributing to increased revenues at banks. Regions Bank chief financial officer David Turner said the ...

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