On March 12, 2024, Stilwell Value LLC mailed a letter to Peoples Financial Corporation?s stockholders stating that the shares in the Company were first listed on NASDAQ in 2000 and traded at $30. Under Chevis C. Swetman?s stewardship, today?s price is about $16 per share. It?s time for Chevis C. Swetman to go.

Stilwell Value added that 2 years ago, the Company?s equity was $92 million. Under Andrew Tanner Swetman?s stewardship of the bond portfolio, the Company?s equity has declined by over $65 million. It?s time for Andrew Tanner Swetman to go.

Stilwell Value also stated that the directors haven?t been able (or perhaps willing) to supervise the Andrew Tanner Swetman. It?s also time for the directors to go.