On April 1, 2024, Joseph Stilwell and certain affiliated entities in Stilwell?s solicitation announced that they have filed a definitive proxy statement and accompanying green universal proxy card with the Securities and Exchange Commission (the SEC) to solicit votes for the election of Stilwell?s director nominee at the 2024 annual meeting of stockholders of Peoples Financial Corporation. Stilwell Value added that it has issued a letter to the Company?s stockholders about the Company?s Chairman, President, and Chief Executive Officer, Chevis Swetman, statement to shareholders that his goal is maximizing shareholder value over the long-term, whereas the Company?s share price has declined by approximately half over the last quarter-century under Chevis Swetman leadership. Stilwell Value urged shareholders to vote on its green proxy card.