PEOPLES FINANCIAL CORPORATION ANNOUNCES RETIREMENT OF CHIEF FINANCIAL OFFICER
Peoples Financial Corporation (PFBX) announced the retirement of Chief Financial Officer Lauri A. Wood, effective April 1, 2022, after over 32 years of service. Leslie B. Fulton has been appointed as the new CFO, starting March 21, 2022. Fulton brings more than 15 years of banking experience and expertise in financial reporting and regulatory matters. The company reported total assets of $819 million as of December 31, 2021, operating 18 branches along the Mississippi Gulf Coast, and offering various banking services since its founding in 1896.
- Leslie B. Fulton has been appointed as the new CFO, bringing over 15 years of relevant banking experience.
- The company reported total assets of $819 million, highlighting its financial stability.
- The Peoples Bank operates 18 branches, which enhances regional accessibility and customer service.
- Lauri A. Wood's retirement may create uncertainty in leadership during the transition period.
BILOXI, Miss., April 1, 2022 /PRNewswire/ -- Peoples Financial Corporation (the "Company") (OTCQX Best Market: PFBX), parent of The Peoples Bank, today announced that on April 1, 2022, Lauri A. Wood, Chief Financial Officer of Peoples Financial Corporation (the "Company"), will retire from the Company. Ms. Wood's intention to retire was publicly announced on November 19, 2021. Ms. Wood leaves the Company after more than 32 years of service. She has served as the Chief Financial Officer of the Company since 1994.
The Company has hired Leslie B. Fulton, C.P.A., who started her employment on March 21, 2022. Mrs. Fulton will be appointed Chief Financial Officer of the Company. She has a Bachelor of Science and Business Administration in Accounting, with honors, from the University of Southern Mississippi and is a member of the American Institute of Certified Public Accountants and the Society of Louisiana Certified Public Accountants. Mrs. Fulton has more than 15 years of accounting experience in the banking industry in south Louisiana and almost two years of experience in public accounting. She has a wealth of experience in financial institution financial reporting, working with regulatory authorities, asset liability management and credit loss analysis. A native of Gautier, MS, she will be continuing her career on the Mississippi Gulf Coast among her family and friends.
"We are confident that Leslie will be a great addition to our management team," said Chevis C. Swetman, President and CEO of the Company and its bank subsidiary. "During the search process, she impressed us with her financial institution knowledge as well as her communication skills."
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Peoples Financial Corporation's common stock is listed on the OTCQX Best Market under the symbol PFBX. Additional information is available on the Internet at the Company's website, www.thepeoples.com, and at the website of the Securities and Exchange Commission, www.sec.gov.
This news release reflects industry conditions, Company performance and financial results and contains "forward-looking statements," which may include forecasts of our financial results and condition, expectations for our operations and businesses, and our assumptions for those forecasts and expectations. Do not place undue reliance on forward-looking statements. These forward-looking statements are subject to a number of risk factors and uncertainties which could cause the Company's actual results and experience to differ materially from the anticipated results and expectation expressed in such forward-looking statements.
Factors that could cause our actual results to differ materially from our forward-looking statements are described under "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Regulation and Supervision" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and in other documents subsequently filed by the Company with the Securities and Exchange Commission, available at the SEC's website and the Company's website, each of which are referenced above. To the extent that statements in this news release relate to future plans, objectives, financial results or performance by the Company, these statements are deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are generally identified by use of words such as "may," "believe," "expect," "anticipate," "intend," "will," "should," "plan," "estimate," "predict," "continue" and "potential" or the negative of these terms or other comparable terminology.
Forward-looking statements represent management's beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements. All information is as of the date of this news release. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.
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SOURCE Peoples Financial Corporation
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