2018 Q2 Form 10-Q Financial Statement

#000119312518160473 Filed on May 11, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2018 Q1 2017 Q1
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $510.0K $480.0K $473.0K
YoY Change 6.25% 1.48% 5.82%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $623.0K $496.0K $279.0K
YoY Change 80.58% 77.78% 15.29%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $63.00K $290.0K $70.00K
YoY Change -92.27% 314.29% -12.5%
Income Tax
% Of Pretax Income
Net Earnings $63.00K $292.0K $74.00K
YoY Change -94.54% 294.59% -2.63%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $11.88K $57.09K $13.67K
COMMON SHARES
Basic Shares Outstanding 5.073M shares 5.083M shares 5.123M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q2 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $35.86M $31.52M $101.9M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $19.52M $19.92M $21.20M
YoY Change -6.26% -6.02% -5.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $641.3M $646.8M $725.4M
YoY Change -1.91% -10.83% 3.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $19.80M $19.70M $18.20M
YoY Change 8.2% 8.24% 4.0%
Total Long-Term Liabilities $19.80M $19.70M $18.20M
YoY Change 8.2% 8.24% 4.0%
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities $19.80M $19.70M $18.20M
Total Liabilities $555.2M $559.8M $635.8M
YoY Change -1.18% -11.95% 4.72%
SHAREHOLDERS EQUITY
Retained Earnings $21.28M $21.72M $19.39M
YoY Change 3.58% 12.0% 0.86%
Common Stock $70.82M $70.85M $70.90M
YoY Change -0.12% -0.07% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $86.09M $87.05M $89.63M
YoY Change
Total Liabilities & Shareholders Equity $641.3M $646.8M $725.4M
YoY Change -1.91% -10.83% 3.59%

Cashflow Statement

Concept 2018 Q2 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $63.00K $292.0K $74.00K
YoY Change -94.54% 294.59% -2.63%
Depreciation, Depletion And Amortization $510.0K $480.0K $473.0K
YoY Change 6.25% 1.48% 5.82%
Cash From Operating Activities $1.220M $192.0K $453.0K
YoY Change 27.08% -57.62% 1032.5%
INVESTING ACTIVITIES
Capital Expenditures -$110.0K $247.0K $24.00K
YoY Change 0.0% 929.17% -95.33%
Acquisitions
YoY Change
Other Investing Activities $8.450M $7.090M $24.08M
YoY Change -59.34% -70.56% -235.51%
Cash From Investing Activities $8.340M $6.839M $24.06M
YoY Change -59.63% -71.57% -231.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $145.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.230M -793.0K 36.31M
YoY Change -92.93% -102.18% -37.87%
NET CHANGE
Cash From Operating Activities 1.220M 192.0K 453.0K
Cash From Investing Activities 8.340M 6.839M 24.06M
Cash From Financing Activities -5.230M -793.0K 36.31M
Net Change In Cash 4.330M 6.238M 60.82M
YoY Change -108.26% -89.74% 51.26%
FREE CASH FLOW
Cash From Operating Activities $1.220M $192.0K $453.0K
Capital Expenditures -$110.0K $247.0K $24.00K
Free Cash Flow $1.330M -$55.00K $429.0K
YoY Change 24.3% -112.82% -190.51%

Facts In Submission

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CY2017Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
390000
CY2017Q1 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
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CY2017Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
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RepaymentsOfFederalHomeLoanBankBorrowings
5014000
CY2017Q1 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
44391
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5123186 shares
CY2017Q1 pfbx Interest On Deposits And Borrowings
InterestOnDepositsAndBorrowings
259953
CY2017Q1 pfbx Increase Decrease In Demand And Savings Deposits
IncreaseDecreaseInDemandAndSavingsDeposits
35768000
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NetAmortizationOnAvailableForSaleSecurities
-5000
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FederalDepositInsuranceCorporationAndStateBankingAssessments
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AtmExpense
122000
CY2018Q1 dei Amendment Flag
AmendmentFlag
false
CY2018Q1 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
0
CY2018Q1 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
107000
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OtherRealEstateExpense
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NetAmortizationOnHeldToMaturitySecurities
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CY2018Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
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ComprehensiveIncomeNetOfTax
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CY2018Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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CY2018Q1 us-gaap Depreciation
Depreciation
480000
CY2018Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.06
CY2018Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
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CY2018Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
CY2018Q1 dei Document Type
DocumentType
10-Q
CY2018Q1 dei Document Period End Date
DocumentPeriodEndDate
2018-03-31
CY2018Q1 us-gaap Equipment Expense
EquipmentExpense
758000
CY2018Q1 dei Entity Registrant Name
EntityRegistrantName
PEOPLES FINANCIAL CORP /MS/
CY2018Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000770460
CY2018Q1 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2018Q1 us-gaap Fees And Commissions Fiduciary And Trust Activities
FeesAndCommissionsFiduciaryAndTrustActivities
433000
CY2018Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
176000
CY2018Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
152000
CY2018Q1 us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
911000
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GainLossOnSaleOfOtherInvestments
-39000
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GainsLossesOnSalesOfOtherRealEstate
-4000
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ImpairedFinancingReceivableInterestIncomeAccrualMethod
13000
CY2018Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
17000
CY2018Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0
CY2018Q1 us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
9167000
CY2018Q1 us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeAccrualMethod
6000
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CY2018Q1 us-gaap Impaired Financing Receivable With Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithRelatedAllowanceInterestIncomeAccrualMethod
7000
CY2018Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
194000
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ImpairedFinancingReceivableAverageRecordedInvestment
13983000
CY2018Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
65000
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IncreaseDecreaseInOtherOperatingLiabilities
-483000
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IncreaseDecreaseInTimeDeposits
2986000
CY2018Q1 us-gaap Interest Expense
InterestExpense
496000
CY2018Q1 us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Short Term
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesShortTerm
20000
CY2018Q1 us-gaap Interest Expense Deposits
InterestExpenseDeposits
476000
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InterestIncomeExpenseAfterProvisionForLoanLoss
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InterestIncomeExpenseNet
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InterestIncomeSecuritiesStateAndMunicipal
439000
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InterestIncomeSecuritiesUSTreasury
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InterestIncomeSecuritiesOtherUSGovernment
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NetCashProvidedByUsedInFinancingActivities
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NetCashProvidedByUsedInOperatingActivities
192000
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NoninterestExpense
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NoninterestIncome
1523000
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OtherNonoperatingIncome
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OtherNoninterestExpense
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CY2018Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
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CY2018Q1 us-gaap Repayments Of Federal Home Loan Bank Borrowings
RepaymentsOfFederalHomeLoanBankBorrowings
171414000
CY2018Q1 us-gaap Reclassifications
Reclassifications
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> 9. Reclassifications:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> Certain reclassifications have been made to prior year statements to conform to current year presentation. The reclassifications had no effect on prior year net income.</p> </div>
CY2018Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
145000
CY2018Q1 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
753674
CY2018Q1 dei Trading Symbol
TradingSymbol
PFBX
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5080514 shares
CY2018Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> Use of Estimates - The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. Material estimates common to the banking industry that are particularly susceptible to significant change in the near term include, but are not limited to, the determination of the allowance for loan losses, the valuation of other real estate acquired in connection with foreclosure or in satisfaction of loans and valuation allowances associated with the realization of deferred tax assets, which are based on future taxable income.</p> </div>
CY2018Q1 pfbx Interest On Deposits And Borrowings
InterestOnDepositsAndBorrowings
489389
CY2018Q1 pfbx Increase Decrease In Demand And Savings Deposits
IncreaseDecreaseInDemandAndSavingsDeposits
6380000
CY2018Q1 pfbx Other Real Estate Expense
OtherRealEstateExpense
120000
CY2018Q1 pfbx Net Amortization On Held To Maturity Securities
NetAmortizationOnHeldToMaturitySecurities
61000
CY2018Q1 pfbx Net Amortization On Available For Sale Securities
NetAmortizationOnAvailableForSaleSecurities
113000
CY2018Q1 pfbx Federal Deposit Insurance Corporation And State Banking Assessments
FederalDepositInsuranceCorporationAndStateBankingAssessments
114000
CY2018Q1 pfbx Atm Expense
AtmExpense
138000
CY2018Q1 pfbx Number Of Operating Subsidiary
NumberOfOperatingSubsidiary
2 Subsidiary
CY2018Q1 pfbx Percentage Of Time Deposits Provide For Automatic Renewal At Current Interest Rates
PercentageOfTimeDepositsProvideForAutomaticRenewalAtCurrentInterestRates
0.98 pure

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