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.
News and updates for Peoples Financial Services Corp. (NASDAQ: PFIS) center on its role as a bank holding company for Peoples Security Bank and Trust Company, an independent community bank with 39 full-service offices in Pennsylvania, New Jersey and New York. Company press releases highlight how these community banking offices provide financial products and services to individuals, businesses, not-for-profit organizations and government entities across its regional footprint.
Investors following PFIS news will find regular announcements of quarterly cash dividends, including details on per-share amounts, record dates and payment dates. The company also issues earnings releases that present unaudited financial results for quarterly and year-to-date periods, along with commentary on factors affecting net income, net interest income, provisions for credit losses, noninterest income and noninterest expenses.
PFIS news coverage frequently includes information on strategic actions and capital management. Examples in recent disclosures include the completion of a merger with FNCB Bancorp, Inc., which expanded the branch network and added assets and deposits, and a private placement of fixed-to-floating rate subordinated notes structured to qualify as Tier 2 capital for regulatory purposes. The company also reports on executive and leadership matters, such as officer appointments and changes in key roles.
In addition, Peoples Financial Services Corp. uses press releases and Form 8-K filings to furnish investor presentations under Regulation FD, providing further insight into its financial condition, performance metrics and management’s perspective. For readers tracking PFIS, this news page aggregates these company-issued updates so that developments in community banking operations, dividends, mergers, capital issuances and governance changes can be reviewed in one place.
Peoples Financial Services Corp. (NASDAQ: PFIS) reported unaudited financial results for Q2 and H1 2024. Key highlights include:
- Q2 2024 net income: $3.3 million ($0.46 per diluted share), down 65.2% from Q2 2023
- H1 2024 net income: $6.7 million ($0.95 per diluted share), down 60.3% from H1 2023
- Completed merger with FNCB Bancorp, Inc. on July 1, 2024
- Net interest margin for Q2 2024: 2.29%, down 32 basis points year-over-year
- Loan growth: $19.7 million (1.4% annualized) in H1 2024
- Total deposits: $3.1 billion, decreased $214.1 million in H1 2024
- Asset quality remained strong with nonperforming assets at 0.20% of total assets
Peoples Financial Services Corp. (Nasdaq: PFIS) announced the completion of its merger with FNCB Bancorp on July 1, 2024. The merger unites FNCB Bank with Peoples Security Bank and Trust Company, forming a $5.6 billion community bank operating in Pennsylvania, New York, and New Jersey. Craig Best, CEO of Peoples, emphasized the merger's benefits for customers, employees, and shareholders. The combined entity will manage $5.5 billion in assets, $4.0 billion in loans, and $4.7 billion in deposits. The merged company will continue under the Peoples banner and trade on Nasdaq under the PFIS ticker symbol.
Peoples Financial Services Corp. (Nasdaq: PFIS) and FNCB Bancorp, Inc. (Nasdaq: FNCB) have received all required regulatory approvals for their merger. Announced on June 14, 2024, the merger will see FNCB merge into Peoples, which will remain the surviving This follows the Agreement and Plan of Merger dated September 27, 2023. The completion of this merger is expected on July 1, 2024, pending standard closing conditions.
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