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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.
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.
Peoples Financial Services Corp. (NASDAQ: PFIS) has declared a third quarter dividend of $0.36 per share, consistent with the previous quarter, marking a 5.9% increase from the same quarter last year. The dividend is payable on September 15, 2020, to shareholders of record as of August 31, 2020. The company, serving various counties in Pennsylvania and New York, emphasizes community-focused banking and offers a wide range of financial products and services.