Peoples Financial Services Corp. Announces Retirement of President Thomas P. Tulaney

Rhea-AI Summary

Peoples Financial Services Corp. (NASDAQ: PFIS) announced that Thomas P. Tulaney will retire as President of PFIS and President and Director of Peoples Security Bank and Trust Company effective April 3, 2026. Mr. Tulaney was appointed President on January 1, 2025 and has over 40 years of banking experience.

Following retirement he is expected to serve as a Senior Advisor to assist leadership transition, provide strategic help, and remain involved in customer and community relationships. Subject to committee review, CEO Gerard A. Champi is anticipated to assume the President role upon retirement.

Positive

• Leadership continuity supported by anticipated CEO Gerard A. Champi assuming President role
• Planned Senior Advisor role preserves Mr. Tulaney's institutional knowledge
• Executive transition designed to maintain customer and community relationships

Negative

• Departure of a recent appointee may create short-term leadership uncertainty
• Loss of a senior executive with over 40 years of banking experience

News Market Reaction – PFIS

+3.40%

1 alert

+3.40% News Effect

On the day this news was published, PFIS gained 3.40%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

MOOSIC, Pa., Jan. 30, 2026 /PRNewswire/ -- Peoples Financial Services Corp. ("PFIS" or the "Company") (NASDAQ: PFIS), the bank holding company for Peoples Security Bank and Trust Company (the "Bank"), announced today that Thomas P. Tulaney has informed the Company of his retirement from his roles as President of PFIS and President and Director of the Bank, effective April 3, 2026.

Mr. Tulaney was most recently appointed President of both PFIS and the Bank effective January 1, 2025. In this role, he worked closely with the Board of Directors, CEO and executive leadership team to strengthen the Bank's financial performance, drive sustainable growth, and create long-term value for shareholders.

With over 40 years of banking experience, Mr. Tulaney has served as a trusted partner to clients, employees and the community.  He always represented himself with professionalism and integrity. Mr. Tulaney was a leader in developing the Bank's brand, culture, image, and reputation.

Following his retirement, Mr. Tulaney is expected to continue to serve the Company and Bank in a Senior Advisor role. In this capacity, he will assist in leadership transition, provide strategic assistance, and remain involved in customer relationships and community development as needed.  

Subject to further review and recommendation of the Company's Nominating and Corporate Governance Committee, it is anticipated that Gerard A. Champi, Chief Executive Officer of the Company and the Bank, will also assume the role of the President of the Company and the Bank upon Mr. Tulaney's retirement.

About Peoples:

Peoples Financial Services Corp. is the bank holding company of Peoples Security Bank and Trust Company, an independent community bank serving its retail and commercial customers through 40 full-service community banking offices located within Allegheny, Bucks, Lackawanna, Lancaster, Lebanon, Lehigh, Luzerne, Monroe, Montgomery, Northampton, Susquehanna, Wayne and Wyoming Counties in Pennsylvania, Middlesex County in New Jersey and Broome County in New York.  Each office, interdependent with the community, offers a comprehensive array of financial products and services to individuals, businesses, not-for-profit organizations, and government entities.  Peoples' business philosophy includes offering direct access to senior management and other officers and providing friendly, informed and courteous service, and local and timely decision making.  For more information visit psbt.com.

Safe Harbor Forward-Looking Statements:

We make statements in this press release, and we may from time to time make other statements regarding our outlook or expectations for future financial or operating results and/or other matters regarding or affecting Peoples Financial Services Corp. and its subsidiaries (collectively, "Peoples") and other statements that are not historical facts that are considered "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements may be identified by the use of such words as "believe," "expect," "anticipate," "should," "planned," "estimated," "intend" and "potential." For these statements, Peoples claims the protection of the statutory safe harbors for forward-looking statements.

Peoples cautions you that undue reliance should not be placed on forward-looking statements and that a number of important factors could cause actual results to differ materially from those currently anticipated in any forward-looking statement. Such factors include, but are not limited to: macroeconomic trends, including interest rates and inflation and their effect on our investment values; the effects of any recession in the United States; political instability and the consequences thereof, such as the recent shutdown of the U.S. federal government; the impact on financial markets from geopolitical conflict, including from wars, military conflict or trade policies, including tariffs, retaliatory tariffs, tariff counter-measures, or the threat of such actions; impairment charges relating to our investment portfolio; credit risks in connection with our lending activities; the economic health of our market area; our exposure to commercial and industrial, construction, commercial real estate, and equipment finance loans; our ability to maintain an adequate allowance for credit losses; access to liquidity; the strength of our customer deposit levels; unrealized losses; reliance on our subsidiaries; accounting procedures, policies and requirements; changes in the value of goodwill; future pension plan costs; our ability to retain key personnel; the strength of our disclosure controls and procedures; environmental liabilities; reliance on third-party vendors and service providers; competition from non-bank entities; the development and use of AI in business processes, services, and products; our ability to prevent, detect and respond to cybersecurity threats and incidents; a failure of information technology, whether due to a breach, cybersecurity incident, or ability to keep pace with growth and developments; our ability to comply with privacy and data protection requirements; changes in U.S. or regional economic conditions; our ability to compete effectively in our industry; the soundness of other financial institutions; adverse changes (or the threat of such changes) in laws and regulations; fiscal and monetary policies of the federal government and its agencies; a failure to meet minimum capital requirements; our ability to realize the anticipated benefits of the FNCB merger; future acquisitions or a change in control; and other factors that may be described in our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission from time to time.

The forward-looking statements are made as of the date of this release, and, except as may be required byapplicable law or regulation, Peoples assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.

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SOURCE Peoples Financial Services Corp.

FAQ

When is Thomas P. Tulaney retiring as President of PFIS (NASDAQ: PFIS)?

He is retiring effective April 3, 2026. According to the company, Mr. Tulaney informed PFIS of his retirement and will vacate the President roles on that date while assisting in transition.

Who is expected to become President of PFIS after Mr. Tulaney retires?

Chief Executive Officer Gerard A. Champi is anticipated to assume the President role. According to the company, this change is subject to review and recommendation by the Nominating and Corporate Governance Committee.

Will Thomas P. Tulaney remain involved with PFIS after his retirement?

Yes. According to the company, he is expected to serve as a Senior Advisor to assist leadership transition and support customer and community relationships as needed.

What roles did Thomas P. Tulaney hold before retiring from PFIS?

He served as President of PFIS and President and Director of the Bank, appointed on January 1, 2025. According to the company, he worked on financial performance, growth, and long-term shareholder value.

How might the president retirement affect PFIS leadership stability and customers?

The company plans an internal transition with the CEO assuming the President role to preserve stability. According to the company, Mr. Tulaney's Senior Advisor role aims to maintain customer and community continuity during the change.