Company Profile
- 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…