Stilwell Activist Investments, L.P. Letter to PFBX Owner

$PFBX

Dear Fellow PFBX Owner,

Shares in our Company were first listed on NASDAQ in 2000 and traded at $30. Under Chevis’s stewardship, today’s price is about $16 per share. It’s time for Chevis to go.

Two years ago, our Company’s equity was $92 million. Under Tanner’s stewardship of the bond portfolio, our Company’s equity has declined by over $65 million. It’s time for Tanner to go.

The directors haven’t been able (or perhaps willing) to supervise the Swetmans. It’s also time for the directors to go.

Respectfully,

Megan Parisi
(787) 985-2194
mparisi@stilwellgroup.com

Source:

https://www.sec.gov/Archives/edgar/data/770460/000092189524000643/dfan14a10318019_03122024.htm