In 1908, Peoples Bank opened with a commitment to providing service to rural Simpson County, much of which lacked access financial institutions. During the Great Depression, the bank attracted accolades by refusing to close as banks locked their doors across the nation. More banks closed in America that day then any day before or since, but Peoples Bank committed serving its community and stayed open. Today, Peoples embraces the principles established by our founders; traditions that begin with personal service and traditions and evoke corporate citizenship in the areas they serve.
Community Development Financial Institutions, or CDFIs, are utilizing all resources at their disposal to help small businesses stay afloat as the novel coronavirus spreads throughout the U.S. CDFIs serve customers typically overlooked by mainstream financial institutions. Beneficial State Bank, an FDIC-insured CDFI that provides commercial banking services to underserved communities, had received 500 phone calls a day about PPP two days before the program even launched on April 3, Interim CEO Randell Leach said. CDBA members Bank Plus, Mission Valley, NOAH Bank, Peoples Bank, and Sunrise Banks are also mentioned in the article.
At first glance, a "video teller" installed in New Hebron may seem more impersonal than a traditional bank branch. However, for Peoples Bank this new bit of technology has allowed bankers to personally interact with a whole new set of customers. The machine, stationed in a location far from a physical branch, allows customers to live video chat with a real teller at another nearby Peoples Bank location. "We typically have two to three different employees who are serving that role as a live teller," said Ashley M. Jones, vice president of marketing. "The tellers on our end are enjoying the relationship that they have established...And for our customers, it is always nice to see a familiar face on the other end. It is comforting."
Peoples Financial Corporation, parent of The Peoples Bank, announces the completion of its 110,000 common share repurchase program authorized by its board in December of 2017. The board believes this is an efficient use of capital and monitors prevailing market conditions in consideration of future share repurchase programs. As of June 30, 2018, the company reported 5,037,719 common shares outstanding.