UNITED STATES
SECURITIES AND EXCHANGE COMMISSION 
Washington, D. C. 20549 

FORM 8-K 
CURRENT REPORT 
Pursuant to Section 13 or 15 (d) of The Securities Exchange Act of 1934 

September 3, 2004 

Date of Report (Date of Earliest Event Reported)

THE PEOPLES HOLDING COMPANY 

(Exact Name of Registrant as Specified in its Charter)

Mississippi
	1-13253
	64-0676974
	
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)	

209 Troy Street, Tupelo, Mississippi 38802-0709 

(Address of Principal Executive Offices)(Zip Code)

Registrant’s Telephone Number, including area code: (662) 680-1001 

(Former Name or Former Address, if changed since last report)

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:
[   ] 	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))	

ITEM 7.01 REGULATION FD DISCLOSURE. 
On September 3, 2004, The Peoples Holding Company issued a press release announcing its intention to open new locations in Oxford, Mississippi, subject to regulatory approval. The press release is furnished as Exhibit 99.1 to this Form 8-K. 	
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS. 
		
(c)   The following exhibit is filed herewith:	
 	 	
99.1	Press Release, dated September 3, 2004, issued by The Peoples Holding Company.	

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. 
 	 	 	
 	THE PEOPLES HOLDING COMPANY
	 	
 	Registrant	 	

DATE: September 3, 2004	/s/ E. Robinson McGraw
	 	
 	E. Robinson McGraw		
 	President & Chief Executive Officer		

EXHIBIT INDEX
	
EXHIBIT NUMBER
	DESCRIPTION
	
99.1	     Press Release, dated September 3, 2004, issued by The Peoples Holding Company.	

Exhibit 99.1

			
Contact:	Jim Gray	Stuart Johnson	
 	Executive Vice President	Executive Vice President & CFO	
 	(662) 680-1217	(662) 680-1472	
 	jimg@thepeopleplace.com	stuartj@thepeopleplace.com	

THE PEOPLES HOLDING COMPANY ANNOUNCES PLANS 
TO EXPAND TO OXFORD, MISSISSIPPI

TUPELO, MISSISSIPPI (September 3, 2004) – The Peoples Holding Company (AMEX:PHC) today announced plans to construct a full-service bank at the corner of West Jackson Street and Home Depot Drive in Oxford, Mississippi. It is anticipated that the facility will open in the third quarter of 2005. The Company also intends to open a branch, offering loan and other financial services products, in downtown Oxford near the Square. Plans call for this office to be open by mid-October, 2004. Additionally, the Company announced that it intends to locate a full service ATM on the campus of The University of Mississippi in the near future. The establishment of each of these banking facilities is subject to regulatory approval. 
"We are pleased to announce our intentions to expand into the dynamic market of Oxford, Mississippi. This represents a natural expansion for us by filling in our existing footprint throughout north and north central Mississippi. We are excited about becoming an active member of the Oxford and University of Mississippi community." said President & CEO, E. Robinson McGraw. 
ABOUT THE PEOPLES HOLDING COMPANY 
The Peoples Holding Company is the parent of The Peoples Bank & Trust Company, Mississippi's fourth largest commercial bank headquartered in the state, The Peoples Insurance Agency, Inc. and Renasant Bank of Germantown, Tennessee. PHC has assets of approximately $1.6 billion and operates 48 banking, insurance and financial services offices in 29 cities in Mississippi and Tennessee. 
NOTE TO INVESTORS 
This news release contains forward-looking statements regarding The Peoples Holding Company. All forward-looking statements involve risk and uncertainty and a number of factors could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements. Those factors include, but are not limited to, regulatory approval of the proposed banking facilities announced in this release.