Stilwell Value LLC 4

What Happened
Joseph Stilwell, a member of a Section 13(d) group that beneficially owns more than 10% of Peoples Financial Corp (PFBX), made an open-market purchase of 292 shares on January 29, 2026. The shares were acquired at $20.73 per share for a total cost of $6,053. This was a purchase (not a sale), which some investors view as a modestly bullish signal.

Key Details

• Transaction date: 2026-01-29 (Form 4 filed 2026-01-30).
• Transaction type/code: Open market purchase (P).
• Shares purchased: 292 at $20.73 each; total value ≈ $6,053.
• Shares owned after transaction: The filing notes the reporting persons (the Section 13(d) group) beneficially own >10% of the issuer; the Form 4 does not list an exact post-transaction share count.
• Footnotes: Shares are held directly 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 and disclaims beneficial ownership of shares held indirectly except to the extent of his pecuniary interest (F1–F3).
• Timeliness: Filing appears timely (reported transaction date 1/29/2026, filed 1/30/2026).

Context
This purchase was made by affiliated investment vehicles associated with Joseph Stilwell rather than as a personal executive trade; Stilwell is part of an activist/investment group that already owns more than 10% of the company. Purchases by large shareholders can signal confidence but do not by themselves explain intent or strategy. The filing contains standard ownership disclaimers and does not indicate any option exercises, awards, gifts, or tax-withholding events.