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Peoples Financial Services Corp. reports recurring bank holding company developments tied to Peoples Security Bank and Trust Company, an independent community bank serving retail and commercial customers across Pennsylvania, New Jersey and New York. News releases commonly cover unaudited quarterly and annual earnings, net interest income, provision for credit losses, loan growth, asset quality, return metrics and non-interest expense.
Company updates also include cash dividend declarations, securities portfolio actions, office and headquarters-related operating matters, and governance changes at the holding company and bank. Its banking services include deposit accounts, residential and commercial lending, commercial real estate and municipal loans, equipment finance, working capital lines of credit, card processing and advisory services.
Peoples Financial Services Corp. (NASDAQ: PFIS) has declared a fourth-quarter dividend of $0.40 per share, marking a 5.3% increase from the $0.38 declared in Q4 2021. The dividend is set to be paid on December 15, 2022 to shareholders on record as of November 30, 2022.
This increase reflects the company's commitment to providing returns to shareholders amidst ongoing market conditions.
Peoples Financial Services Corp. (PFIS) reported a net income of $10.0 million or $1.38 per diluted share for Q3 2022, marking a 9.6% increase from Q3 2021. Year-to-date earnings totaled $29.0 million or $4.01 per share, up 6.8%. The growth was driven by a $3.0 million rise in net interest income, despite $1.8 million in increased noninterest expenses. Notable increases in loan growth reached 20.2% annualized, while deposits grew $230.2 million in Q3. However, a provision for loan losses of $1.7 million was noted, reflecting strong loan growth.
Peoples Financial Services Corp. (NASDAQ: PFIS) announced a third quarter dividend of $0.40 per share, up 5.3% from the previous year. This dividend is payable on September 15, 2022 to shareholders of record by August 31, 2022. The company operates a community bank with 28 offices across Pennsylvania, New Jersey, and New York, serving both retail and commercial clients. The announcement reflects the company’s financial resilience and ongoing commitment to returning value to shareholders.
Peoples Financial Services Corp. (NASDAQ: PFIS) reported strong financial results for Q2 and the first half of 2022, with net income rising to $9.4 million ($1.30/share) for Q2, a 10.2% increase from the prior year. Year-to-date, net income reached $19.0 million ($2.63/share), up 5.6%. Key drivers included a $3.4 million increase in net interest income. However, the company faced rising noninterest expenses and a $0.9 million increase in loan loss provisions. Total assets reached $3.4 billion, with a return on average assets of 1.12% for Q2.
Peoples Financial Services Corp., a community bank with $3.4 billion in assets, announced that CEO Craig Best will present at the D.A. Davidson 24th Annual Financial Institutions Conference on May 5, 2022, at 11am (Mountain). Presentation materials, including the current Investor Presentation, will be available on the company's website prior to the event. The bank cautions that forward-looking statements about future performance are subject to various risks, including economic conditions and regulatory issues, which could significantly impact actual results.
Peoples Financial Services Corp. (NASDAQ: PFIS) announced a quarterly dividend of $0.39 per share, marking a 5.4% increase compared to the same period last year. The dividend will be payable on June 15, 2022, to shareholders on record as of May 31, 2022. This decision reflects the company's continued commitment to returning value to its shareholders.
Peoples Financial Services Corp. (NASDAQ: PFIS) reported a net income of $9.6 million or $1.33 per diluted share for Q1 2022, marking a 2.0% increase from $9.5 million, or $1.31 per share in Q1 2021. The increase was driven by a $1.9 million rise in net interest income and reduced tax expenses. Loan growth reached $98.7 million, leading to a provision for loan losses of $0.3 million. However, non-interest expenses rose by 13.1% to $14.3 million primarily due to higher salaries and technology investments.
On March 4, 2022, Peoples Financial Services Corp. appointed Elisa (Lisa) Zúñiga Ramirez to its Board of Directors, increasing the board size from seven to eight members. Ms. Ramirez brings over 30 years of capital markets experience, having previously served as Senior Portfolio Manager at Segal Bryant and Hamill. She is also President of Éxito Consulting, LLC, and a corporate director for Bow River Capital and Denver Employees Retirement Plan. Her expertise is expected to enhance shareholder value and provide fresh perspectives for the bank's strategic direction.
Peoples Financial Services Corp. (NASDAQ: PFIS) reported a net income of $16.4 million, or $2.28 per diluted share for Q4 2021, a notable increase from $8.2 million or $1.13 per diluted share in Q4 2020. The rise is attributed to a $9.6 million after-tax gain from the sale of Visa Class B shares.
For the full year, net income reached $43.5 million or $6.02 per diluted share, a 50.5% increase compared to $29.4 million or $4.00 per share in 2020. Total assets and deposits grew significantly, supported by robust loan demand and organic growth.
The Board of Directors of Peoples Financial Services Corp. (NASDAQ: PFIS) has announced a $0.39 per share dividend for the first quarter of 2022, reflecting a 5.4% increase from Q1 2021. This dividend will be payable on March 15, 2022, to shareholders on record as of February 28, 2022. The company is the parent of Peoples Security Bank and Trust Company, which operates 28 community banking offices across Pennsylvania, New Jersey, and New York.