# EDGAR Filing Document

**Accession Number:** 0000770460
**File Stem:** 0001437749-23-007431
**Filing Date:** 2023-3
**Character Count:** 8289
**Document Hash:** e3a5d662136aa466dd80c491392b55ab
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-23-007431.hdr.sgml**: 20230322

**ACCESSION NUMBER**: 0001437749-23-007431

**CONFORMED SUBMISSION TYPE**: 8-K/A

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20220928

**ITEM INFORMATION**: Changes in Registrant's Certifying Accountant

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230322

**DATE AS OF CHANGE**: 20230321

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PEOPLES FINANCIAL CORP /MS/
- **CENTRAL INDEX KEY:** 0000770460
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **IRS NUMBER:** 640709834
- **STATE OF INCORPORATION:** MS
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-12103
- **FILM NUMBER:** 23750850

**BUSINESS ADDRESS:**
- **STREET 1:** 152 LAMEUSE STREET
- **STREET 2:** P O BOX 529
- **CITY:** BILOXI
- **STATE:** MS
- **ZIP:** 39530
- **BUSINESS PHONE:** 2284355511

**MAIL ADDRESS:**
- **STREET 1:** P O BOX 529
- **CITY:** BILOXI
- **STATE:** MS
- **ZIP:** 39533-0529

pfbx20230321_8ka.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

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| |
|:---|
| FORM 8-K/A |
| CURRENT REPORT<br> PURSUANT TO SECTION 13 OR 15(d)<br> OF THE SECURITIES EXCHANGE ACT OF 1934 |
| <br> Date of Report (Date of earliest event reported) September 28, 2022 |
| <u>PEOPLES FINANCIAL CORPORATION</u><br> (Exact Name of Registrant as Specified in its Charter) |

---

<u>Mississippi</u>

(State or Other Jurisdiction of Incorporation)

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| | |
|:---|:---|
| <u>001-12103</u> | <u>64-0709834</u> |
| (Commission File Number) | (IRS Employer Identification No.) |
| <u>152 Lameuse Street</u> <u><u>Biloxi</u>,</u> <u>MS</u> | <u>39530</u> |
| (Address of Principal Executive Offices) | (Zip Code) |

---

<u>(<u>228</u>)</u> <u>435-5511</u>

(Registrant's Telephone Number, Including Area Code)

------

(Former Name or Former Address, if Changed Since Last Report)

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| <u>Title of each class</u> | Trading<br> <u>Symbol(s)</u> | <u>Name of each exchange on which registered</u> |
| None | PFBX | None |

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instructions A.2 below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

This Current Report on Form 8-K/A amends the current report on Form 8-K, dated September 28, 2022, that was filed with the Securities and Exchange Commission (the "SEC") on October 3, 2022 (the "Original Form 8-K") by Peoples Financial Corporation (the "Company"), concerning the Company's decision to engage Postlethwaite & Netterville ("P&N") as its independent registered public accounting firm following the completion of the audit services provided by Wipfli, LLP ("Wipfli") for the year ending December 31, 2022 and the filing of the Company's 2022 Annual Report on Form 10-K (the "2022 Annual Report") on March 15, 2023.

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**Item 4.01 Changes in Registrant**'**s Certifying Accountant**

As previously announced in the Original Form 8-K, the Board of Directors of the Company approved the engagement of P&N as the Company's independent registered public accounting firm for the Company's fiscal year ending December 31, 2023. Wipfli continued as the Company's independent registered public accounting firm for the year ending December 31, 2022. On March 15, 2023, when the Company filed its 2022 Annual Report for the fiscal year ended December 31, 2022 with the SEC, Wipfli completed its audit of the Company's consolidated financial statements for such fiscal year, and the Company's retention of Wipfli as our independent registered public accounting firm with respect to the audit of Company's consolidated U.S. GAAP financial statements ended as of that date.

Wipfli's reports on the Company's consolidated financial statements as of and for the fiscal years ended December 31, 2021 and 2022 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles.

During the fiscal years ended December 31, 2021 and 2022, and the subsequent interim period through March 15, 2023, there were: (i) no disagreements within the meaning of Item 304(a)(1)(iv) of Regulation S-K and the related instructions between the Company and Wipfli on any matters of accounting principles or practices, financial statement disclosure, or auditing scope or procedure which, if not resolved to Wipfli's satisfaction, would have caused Wipfli to make reference thereto in their reports; and (ii) no "reportable events" within the meaning of Item 304(a)(1)(v) of Regulation S-K.

The Company has requested that Wipfli furnish a letter addressed to the SEC stating whether or not it agrees with the above statements. A copy of Wipfli's letter, dated March 21, 2023, is filed as Exhibit 16.1 to this Form 8-K/A.

During the fiscal years ended December 31, 2021 and 2022 and the subsequent interim period through March 15, 2023, neither the Company nor anyone on its behalf has consulted with P&N regarding: (i) the application of accounting principles to a specific transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company's financial statements, and neither a written report or oral advice was provided to the Company that P&N concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing, or financial reporting issue; (ii) any matter that was the subject of a disagreement within the meaning of Item 304(a)(1)(iv) of Regulation S-K and the related instructions; or (iii) any reportable event within the meaning of Item 304(a)(1)(v) of Regulation S-K.

**Item 9.01 Financial Statements and Exhibits**

**<u>EXHIBIT</u>**

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| | |
|:---|:---|
| <u>Exhibit</u> | <u>Description</u> |
| Exhibit 16.1 | [Letter from Wipfli LLP](ex_491541.htm) |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL |

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: March 21, 2023

---

| | |
|:---|:---|
| PEOPLES FINANCIAL CORPORATION | PEOPLES FINANCIAL CORPORATION |
| By:  | /s/ Chevis C. Swetman |
|  | Chevis C. Swetman |
|  | Chairman, President and CEO |

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## Exhibit 16.1

**Exhibit 16.1**

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| | | |
|:---|:---|:---|
| ![wipfli01.jpg](wipfli01.jpg) | 235 Peachtree Street, NE<br> Suite 1800<br> Atlanta, GA 30303 | 404 588 4200<br> wipfli.com<br>|

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March 21, 2023

Securities and Exchange Commission

100 F Street, NE

Washington, D.C. 20549-7561

Dear Sirs/Madams:

We have read Item 4.01 of Peoples Financial Corporation's Form 8-KA dated March 21, 2023, and have the following comments:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. We agree with the statements made in the first through fourth paragraphs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. We have no basis on which to agree or disagree with the statements in the fifth paragraph.

Respectfully,

![wipfli02.jpg](wipfli02.jpg)

Wipfli LLP

Atlanta, Georgia