Question 1

What is The Peoples Bank of Biloxi?

Accepted Answer

The Peoples Bank of Biloxi is a community-focused commercial bank serving the Mississippi Gulf Coast. With approximately $758 million in total assets and 18 branch locations, the bank provides comprehensive retail and commercial banking services throughout Hancock, Harrison, Jackson, and Stone counties. Operating within the Gulfport-Biloxi metropolitan area, the bank has established itself as a trusted financial institution with deep roots in the local seafood, timber, and tourism industries that characterize the Gulf Coast economy.

The bank is a wholly-owned subsidiary of Peoples Financial Corporation, which trades on the OTCQX Best Market under the symbol PFBX.

The bank is a wholly-owned subsidiary of Peoples Financial Corporation, which trades on the OTCQX Best Market under the symbol PFBX.

Question 2

When was The Peoples Bank of Biloxi founded?

Accepted Answer

The Peoples Bank of Biloxi was founded on April 13, 1896. The bank was organized in response to Biloxi's rapid economic growth driven by a world-renowned seafood industry, alongside flourishing timber and tourism sectors. At the time, Mississippi Governor A.J. McLaurin had just declared Biloxi an official city after its population reached 5,000 residents.

The bank's founders recognized the growing need for banking services on the Mississippi Gulf Coast. Among the founding members was J.W. Swetman, whose family has been associated with the bank continuously since its inception. The first building was erected at the northwest corner of Howard and Lameuse Streets in Biloxi, and the bank officially opened its doors for business in April 1896.

In 1925, the bank relocated to its present location diagonally opposite from the original site, where it remains headquartered today.

Question 3

Where is The Peoples Bank of Biloxi headquartered?

Accepted Answer

The Peoples Bank of Biloxi is headquartered in Biloxi, Mississippi (zip code 39530), located in Harrison County. The main office has been at its current downtown Biloxi location since 1925, when the bank moved from its original building across the street. Notably, the main bank building was placed on the National Register of Historic Places in 1983, recognizing its architectural and historical significance to the community.

Question 4

Where does The Peoples Bank of Biloxi operate?

Accepted Answer

The Peoples Bank of Biloxi operates 18 branches throughout the Mississippi Gulf Coast, specifically serving four counties: Hancock, Harrison, Jackson, and Stone. The bank's service area encompasses the Gulfport-Biloxi metropolitan statistical area, which is the primary market for its banking operations.

Branch expansion has been strategic and community-focused. The first branch, located in D'Iberville-St. Martin, opened in 1974. Significant expansion occurred between 1999 and 2003, when multiple branches were established across the region, including locations in downtown Gulfport and Saucier.

The bank also operates specialized branches serving military personnel, including locations at Keesler Air Force Base (opened 2013) and the Armed Forces Retirement Home (opened 2014).

Question 5

What services does The Peoples Bank of Biloxi offer?

Accepted Answer

The Peoples Bank of Biloxi provides a comprehensive range of financial services designed to meet the needs of individuals, families, and businesses across the Gulf Coast:

Personal Banking Services include various checking and savings accounts, personal loans, mortgage products, ATM and debit cards (branded as "Mint Check Card"), and credit cards. The bank has offered deposit services totaling approximately $638 million as of its most recent reporting period.

Commercial Banking Services encompass business checking and savings accounts, commercial loans, merchant card services, and cash management solutions tailored to local businesses.

Trust and Investment Services have been available since 1936, making this one of the bank's longest-running specialized offerings. The Asset Management and Trust department provides financial planning, estate planning, and retirement planning services to help customers achieve their long-term financial goals.

Digital Banking capabilities include internet banking (introduced in 2001), the "Green2Go" mobile banking app (launched in 2012), and ATM services throughout the region. These digital platforms allow customers to manage their accounts, transfer funds, and conduct banking transactions remotely.

The bank also offers specialized account products, such as the "Freedom Green" account introduced in 2013, which targets younger adults entering the banking system.

Question 6

What makes The Peoples Bank of Biloxi unique?

Accepted Answer

Multi-Generational Family Leadership: The Swetman family has been continuously associated with The Peoples Bank since 1896, representing over 125 years of family stewardship. J.W. Swetman was one of the founders, and his brother O.G. Swetman joined in 1903. The leadership passed through Glenn L. Swetman and then to Chevis C. Swetman, who became President and CEO in 1983, marking three generations of family leadership that has maintained stability and community focus.

Historical Preservation Commitment: Beyond traditional banking, The Peoples Bank established The Peoples Heritage Foundation in 1981 to preserve and restore structures of historical significance along the Mississippi Gulf Coast. This commitment reflects the bank's deep investment in maintaining the region's cultural heritage and architectural legacy.

Hurricane Katrina Recovery Leadership: In 2005, Hurricane Katrina devastated the Gulf Coast. Five of the bank's locations were heavily damaged, and one was completely destroyed. Remarkably, The Peoples Bank was operational within 48 hours after the hurricane and had seven branches open within one week. All 16 branches (at that time) were reopened before year's end. The City of Biloxi honored the bank with the Biloxi's Volunteer Recognition Award for exceptional community service during the crisis.

Long-Standing Community Recognition: On April 13, 1996, the City of Biloxi proclaimed "Peoples Bank Day" in recognition of the bank's 100th anniversary and its contributions to the growth, culture, and prosperity of Biloxi and the Mississippi Gulf Coast. That same year, the Mississippi Business Journal recognized The Peoples Bank as one of the "Fast 40" companies in Mississippi showing the most dynamic growth potential.

Question 7

What type of financial institution is The Peoples Bank of Biloxi?

Accepted Answer

The Peoples Bank of Biloxi is a State-Chartered Commercial Bank. As an FDIC-insured institution (Certificate #340), it operates under state banking regulations while providing comprehensive commercial and retail banking services.

The bank functions as a full-service community bank, offering a complete spectrum of deposit accounts, lending products, trust services, and wealth management capabilities. With approximately $758 million in assets and $638 million in deposits, it represents a mid-sized regional institution that maintains the personalized service approach of a community bank while providing the financial resources and product sophistication typically associated with larger institutions.

As a subsidiary of Peoples Financial Corporation (OTCQX: PFBX), the bank operates with the governance and financial oversight of a publicly-traded holding company, while maintaining its community-focused mission and local decision-making authority that has characterized its operations for more than 125 years.

The Peoples Bank of Biloxi

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About The Peoples Bank of Biloxi in the United States