The Bank Slate


Peoples in Miss. facing Stilwell Group proxy challenge

A well-known activist investor plans to nominate a director candidate to stand for election at the upcoming annual meeting of Peoples Financial in Biloxi, Miss.

Stilwell Group in New York disclosed in a regulatory filing that it plans to nominate Rodney Blackwell, with Stewart Peck as its alternate nominee.

“We believe management and the directors have ill-served the issuer’s shareholders, and the issuer should explore all possibilities to maximize shareholder value,” the investor said in its filing.

Stilwell, which owns 11.3% of the $882 million-asset Peoples’ stock, has twice tried unsuccessfully to secure board seats at the company.

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