Peoples Financial Services Corp. (NASDAQ: PFIS) (“Peoples” or “the company”) is the holding company for its main subsidiary, Peoples Security Bank and Trust Company (“the bank”), operating 39 branches primarily in Northeast Pennsylvania with a smaller presence in western Pennsylvania (Pittsburgh region), one county in New Jersey, and one county in New York.
The company has complemented organic growth with strategic mergers, most recently closing on the merger with FNCB Bancorp, Inc. (“FNCB”) on July 1, 2024, creating a $5.1 billion asset institution and bolstering PFIS’ presence in Northeast Pennsylvania. Prior to the recent transaction, the company completed a MOE with Penseco Financial Services Corporation in 2013.
Peoples' balanced $4.0 billion loan book is commercially focused, encompassing 32% C&I loans (including owner-occupied CRE) and 32% investor CRE, followed by 19% residential mortgage, 7% C&D loans, and 3% consumer loans as…
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