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) announced a $0.38 per share dividend for Q3 2021, marking a 2.7% increase from the previous quarter and a 5.6% rise compared to Q3 2020. The dividend will be paid on September 15, 2021, to shareholders of record on August 31, 2021. This increase reflects the company's ongoing commitment to returning value to shareholders and its positive financial outlook amidst market conditions.
Peoples Financial Services Corp. (PFIS) reported strong financial performance for Q2 and the first half of 2021. Net income climbed 12.6% to $8.5 million ($1.18/share) in Q2, while six-month earnings rose 40.1% to $18.0 million ($2.49/share). The rise in earnings was aided by a significant $5.7 million decrease in loan loss provisions. However, pre-provision net interest income dipped by $0.2 million. Notably, total deposits grew by 18.2% over the past twelve months, indicating robust customer engagement.
Peoples Financial Services Corp. (NASDAQ: PFIS) has announced a second quarter dividend of $0.37 per share, maintaining the previous quarter's amount and representing a 2.8% increase from the same quarter in 2020. This dividend is payable on June 15, 2021, to shareholders on record as of May 31, 2021. The company operates through Peoples Security Bank and Trust Company, serving communities across Pennsylvania and New York with a range of financial products and services.
Peoples Financial Services Corp. (PFIS) reported record net income of $9.5 million, or $1.31 per diluted share for Q1 2021, a 79.5% increase year-over-year. Key drivers included a $4.0 million decrease in provisions for loan losses and a $1.2 million increase in pre-provision net interest income. The return on average assets improved to 1.32%, while total deposits grew by $540.4 million or 26.9% year-over-year. Despite a higher tax provision, overall operational efficiency improved with a 50.8% efficiency ratio.
Peoples Financial Services Corp. (NASDAQ: PFIS) announced a stock repurchase plan to buy back up to 4.9% of its outstanding shares, totaling 353,422 shares. The timing and volume of repurchases will depend on market conditions and other factors, with purchases potentially made on the open market or through private negotiations. The company currently has 7,212,702 shares outstanding. This buyback initiative aims to enhance shareholder value, although it does not obligate Peoples to repurchase any specific number of shares and may be terminated at any time.
Peoples Financial Services Corp. (NASDAQ: PFIS) reported strong financial results for Q4 and full year 2020. Net income rose to $8.2 million ($1.13/share), a 62.6% increase year-over-year, and total net income for 2020 was $29.4 million ($4.00/share), up 14.1%. The rise in income was driven by lower loan loss provisions and increased noninterest income. Total loans grew by $239.7 million, including $189.7 million from the Paycheck Protection Program (PPP). Deposits grew 23.6% year-over-year, while nonperforming assets remained stable at 0.48% of total loans.
On January 29, 2021, Peoples Financial Services Corp. (NASDAQ: PFIS) announced a $0.37 per share dividend for the first quarter, marking a 2.8% increase from the previous quarter. This dividend is scheduled for payment on March 15, 2021, to shareholders on record by February 26, 2021. The company, which operates Peoples Security Bank and Trust Company, serves multiple counties in Pennsylvania and New York, providing various banking services to individuals and businesses.
Peoples Financial Services Corp. (PFIS) reported a net income of $8.3 million, or $1.14 per diluted share for Q3 2020, a 16.3% increase from $7.1 million in Q3 2019. This growth is attributed to lower funding costs and higher commercial loan interest rate swap revenues. For the nine months ended September 30, net income rose 2.2% to $21.2 million, with increases in pre-provision net interest income and lower noninterest expenses. However, the provision for loan losses increased by 202.4% to $6.4 million due to COVID-19 impacts.
On October 30, 2020, Peoples Financial Services Corp. (NASDAQ: PFIS) announced a fourth quarter dividend of $0.36 per share, consistent with the previous quarter and a 2.9% increase from Q4 2019. This dividend will be paid on December 15, 2020, to shareholders on record as of November 30, 2020. The bank operates 26 full-service offices in Pennsylvania and New York, providing various financial services to individuals and businesses.
Peoples Financial Services Corp. (PFIS) reported Q2 2020 net income of $7.6 million ($1.03/share), a 6% increase from $7.1 million in Q2 2019. Total loans increased by $323.1 million (17.4% YoY), boosted by $201.3 million from the PPP loans. However, YTD net income fell 5.2% to $12.9 million due to a $3.9 million rise in provision for loan losses amid COVID-19 impacts. The company declared a dividend of $0.72 per share, up 5.9% from 2019. The efficiency ratio improved to 54%. Total deposits rose by $238.6 million (12.1%) due to PPP-related funds.
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