The Stilwell Group Sends Letter to Shareholders of Peoples Financial Corporation and Supplements its Definitive Proxy Statement

NEW YORK, April 19, 2021 /PRNewswire/ -- The Stilwell Group, one of the largest shareholders of Peoples Financial Corporation (the "Corporation") (OTCMKTS: PFBX), beneficially owning approximately 9.93% of PFBX's outstanding shares, today announced that it has delivered a letter to shareholders of the Corporation and filed a supplement to its Definitive Proxy Statement.

The full text of the letter follows:

April 19, 2021

Dear Fellow PFBX Owner,

This is our 71^st activist investment.  Win or lose this year, we're here for the duration.  We're after three things:

1. PFBX has to reach at least average performance, or it should be sold to a better run community bank;
   
   
2. Nepotism ends (does anyone outside the boardroom really want a 4^th generation of the same family running our bank?); and
   
   
3. The rewards of ownership go to the owners.  In our opinion, what the insiders have returned to the shareholders is shameful -- what they've awarded themselves over the years is grotesque. 

Please vote the GREEN card TODAY for our highly qualified nominee, Peter Prickett.

Sincerely,

Megan Parisi
[email protected]
(917) 881-8076

You can vote by telephone, online or by signing and dating the enclosed GREEN proxy card and returning it in the postage-paid envelope.

If you have any questions, require assistance in voting your GREEN proxy card, 
or need additional copies of our proxy materials, please contact us or Okapi Partners at the phone numbers or email listed below.

Okapi Partners LLC
1212 Avenue of the Americas, 24^th Floor 
New York, New York 10036
+ 1 (212) 297-0720 (Main) 
+ 1 (855) 305-0856 (Toll-Free) 
Email: [email protected]

Investor Contact:

The Stilwell Group
Megan Parisi
(917) 881-8076
[email protected]

SOURCE The Stilwell Group