Condensed Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Parent Company Only Financial Information

NOTE N - CONDENSED PARENT COMPANY ONLY FINANCIAL INFORMATION:

Peoples Financial Corporation began its operations September 30, 1985, when it acquired all the outstanding stock of The Peoples Bank, Biloxi, Mississippi. A condensed summary of its financial information is shown below.

CONDENSED BALANCE SHEETS (IN THOUSANDS):

December 31,	2016		2015		2014
Assets
Investments in subsidiaries, at underlying equity:
Bank subsidiary	$	85,118	$	88,415	$	91,179
Nonbank subsidiary		1		1		1
Cash in bank subsidiary		191		28		160
Other assets		3,151		3,395		3,611
Total assets	$	88,461	$	91,839	$	94,951
Liabilities and Shareholders’ Equity:
Other liabilities	$		$		$
Total liabilities
Shareholders’ equity		88,461		91,839		94,951
Total liabilities and shareholders’ equity	$	88,461	$	91,839	$	94,951

CONDENSED STATEMENTS OF OPERATIONS (IN THOUSANDS):

Years Ended December 31,	2016			2015			2014
Income
Distributed income of bank subsidiary	$	75		$			$
Undistributed income (loss) of bank subsidiary		247			(4,242	)		(10,025)
Other loss		(32	)		(208	)		(53)
Total income (loss)		290			(4,450	)		(10,078)
Expenses
Other		123			142			124
Total expenses		123			142			124
Income (loss) before income taxes		167			(4,592	)		(10,202)
Income tax benefit								(198)
Net income (loss)		$        167			$        (4,592)			$        (10,004)

CONDENSED STATEMENTS OF CASH FLOWS (IN THOUSANDS):

Years Ended December 31,	2016			2015			2014
Cash flows from operating activities:
Net income (loss)	$	167			$            (4,592	)	$	(10,004)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Loss on other investments		51			218			64
Undistributed (income) loss of subsidiaries		(247	)		4,242			10,025
Other assets		(8	)					25
Other liabilities								(161	)
Net cash used in operating activities		(37	)		(132	)		(51	)
Cash flows from investing activities:
Redemption of equity securities		200						236
Net cash provided by investing activities		200						236
Cash flows from financing activities:
Dividends paid								(512)
Net cash used in financing activities								(512)
Net increase (decrease) in cash		163			(132	)		(327)
Cash, beginning of year		28			160			487
Cash, end of year	$	191		$	28		$	160