Welcome to our dedicated page for Peoples Finl Svcs news (Ticker: PFIS), a resource for investors and traders seeking the latest updates and insights on Peoples Finl Svcs stock.
Peoples Financial Services Corp (PFIS) delivers community-focused banking solutions across Pennsylvania and neighboring states. This news hub provides investors and stakeholders with essential updates on financial performance, strategic initiatives, and market developments.
Access timely announcements including quarterly earnings reports, merger updates, and community reinvestment programs. Our curated collection features press releases about commercial lending innovations, retail banking enhancements, and leadership decisions that shape regional financial services.
Track PFIS's evolving role in community banking through coverage of branch expansions, customer service milestones, and regulatory compliance achievements. Discover how local decision-making and personalized financial solutions continue to drive this institution's 100+ year legacy.
Bookmark this page for direct access to verified PFIS developments. Combine historical context with current updates to better understand this bank's position in the competitive financial landscape.
Peoples Financial Services Corp. (NASDAQ: PFIS) reported net income of $7.6 million or $1.05 per diluted share for Q1 2023, a 21.3% decrease from $9.6 million or $1.33 in Q1 2022. This decline was attributed to a higher provision for credit losses of $1.3 million and increased operating expenses, despite a net interest income rise of $0.4 million.
The company experienced loan growth of $90 million (13.5% annualized) and strong deposit increases of $189.4 million, now totaling $3.2 billion.
However, asset quality remained high, with nonperforming assets at 0.05% of total assets.
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