Stilwell Value LLC 4

What Happened

• Joseph Stilwell, a reported 10% owner of Peoples Financial Corp. (PFBX), made an open-market purchase on January 28, 2026. The transaction was for 618 shares at $20.54 per share, for a total cost of approximately $12,691. This was a direct purchase (code P) by affiliated investment vehicles rather than a sale.

Key Details

• Transaction date and type: 2026-01-28, open market purchase (P).
• Price and quantity: 618 shares at $20.54 per share; total ≈ $12,691.
• Filing date: Form 4 filed 2026-01-29 (timely relative to the transaction date).
• Shares owned after transaction: not specified in the provided excerpt.
• Footnotes: Shares were acquired/held by affiliated funds (Stilwell Activist Fund, L.P.; Stilwell Value Partners VII, L.P.; Stilwell Activist Investments, L.P.). Joseph Stilwell is the managing member/owner of the general partner (Stilwell Value LLC) and disclaims beneficial ownership of shares held indirectly except to the extent of his pecuniary interest.
• Group filing: The reporting persons are filing as members of a Section 13(d) group that beneficially owns more than 10% of the issuer’s common stock.

Context

• This purchase was made by investment vehicles controlled by Stilwell, not labeled as a personal trade; for 10% owners and activist investors, purchases often reflect fund-level positioning rather than routine executive trades.
• Purchases can be interpreted as a potential bullish signal, but filings do not state motives. There is no indication of option exercises, gifts, or tax-withholding in this transaction.