PEOPLES FINANCIAL SERVICES CORP.

Listed Company

PFISCIK 0001056943NasdaqAcceleratedNational Commercial BanksPennsylvaniaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$59.19M

Total Assets

$5.27B

Equity

$519.85M

Shares Out

10.00M

Op. Cash Flow

$54.27M

+ 13F Filer

Business

PEOPLES FINANCIAL SERVICES CORP. is a bank holding company that provides a full range of commercial and retail banking services through its subsidiaries, including Peoples Security Bank and 1st Equipment Finance, Inc. The company offers lending products (commercial and commercial real estate, equipment financing, residential mortgages, consumer loans), deposit products, trust and wealth management, merchant services, and payment processing. Its operations are organized as a single community banking operating segment complemented by a specialty equipment finance subsidiary and trust/wealth and merchant services functions. Peoples distributes its products through a network of community branch offices, loan production offices, digital channels and correspondent relationships across counties in Pennsylvania, parts of New Jersey and New York.

Summary from filing dated 2025-03-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Taxable	229	185	129	96	82
Tax-exempt	8	7	6	5	4
Taxable	17	13	8	8	5
Tax-exempt	2	2	2	2	2
Dividends	160,000	89,000	4,000	2,000	74,000
Interest on interest-bearing deposits in other banks	405,000	498,000	335,000	101,000	8,000
Interest on federal funds sold	2	4	5	342,000	330,000
Total interest income	260	211	150	111	94
Interest on deposits	81	88	59	13	7
Interest on short-term borrowings	1	2	2	1	78,000
Interest on long-term debt	6	3	842,000	76,000	260,000
Interest on subordinated debt	5	2	2	2	2
Interest on junior subordinated debt	745,000	415,000	—	—	—
Total interest expense	94	95	63	16	—
Net interest income	166	116	87	96	85
Provision for credit losses	98,000	19	566,000	−449,000	2
Net interest income after provision for credit losses	166	97	86	96	83
Mortgage banking income	549,000	389,000	390,000	511,000	975,000
Increase in cash surrender value of life insurance	2	2	1	1	889,000
Interest rate swap gain	1	285,000	390,000	622,000	759,000
Net gains (losses) on equity investment securities	168,000	132,000	−11,000	−31,000	2,000
Net (losses) gains on sale of investment securities available for sale	−2	1,000	81,000	−2	—
Net losses on sale of fixed assets	−74,000	−165,000	−3,000	—	—
Total noninterest income	22	18	14	12	26
Salaries and employee benefits expense	56	46	35	34	30
Net occupancy and equipment expense	27	22	17	17	13
Acquisition related expenses	200,000	16	2	—	—
Amortization of intangible assets	6	3	105,000	363,000	491,000
Professional fees and outside services	5	3	3	3	2
FDIC insurance and assessments	3	3	2	1	1
Donations	2	2	2	1	1
Other expenses	14	11	7	7	7
Total noninterest expense	115	107	68	63	55
Income before income taxes	72	8	33	45	54
Income tax expense (benefit)	13	−30,000	5	7	10
Net income	59	8	27	38	44
Unrealized gain on investment securities available for sale	18	3	15	−66	−11
Reclassification adjustment for losses (gains) on available for sale securities included in net income	2	−1,000	−81,000	2	—
Change in benefit plan liabilities	674,000	2	1	370,000	2
Change in derivative fair value	−64,000	632,000	−824,000	−728,000	−322,000
Other comprehensive income	20	5	15	−65	−10
Income tax expense related to other comprehensive income	4	1	3	−14	−2
Other comprehensive income, net of income tax expense	16	4	12	−51	−8
Comprehensive income	75	12	39	−13	36
Basic (per share)	5.92	1	3.85	5.31	6.05
Diluted (per share)	5.88	0.99	3.83	5.28	6.02
Basic (shares)	10	9	7	7	7
Diluted (shares)	10	9	7	7	7
Dividends declared	2.47	2.06	1.64	1.58	1.5

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	58	47	34	38	30
Interest-bearing deposits in other banks	9	9	9	193,000	7
Federal funds sold	201	80	145	—	242
Total cash and cash equivalents	269	136	187	38	280
Available for sale: Amortized cost of $541,707 and $575,288, respectively, net of allowance for credit losses of $0 at December 31, 2025, and December 31, 2024	513	526	399	478	—
Held to maturity: Fair value of $62,798 and $65,152, respectively, net of allowance for credit losses of $0 at December 31, 2025, and December 31, 2024	72	78	85	91	—
Equity investments carried at fair value	3	2	98,000	110,000	140,000
Total investment securities	587	607	484	569	589
Loans	4,067	3,994	2,850	2,730	—
Less: allowance for credit losses	39	42	22	27	28
Net loans	4,028	3,952	2,828	—	—
Loans held for sale	805,000	—	250,000	—	—
Goodwill	76	76	63	63	63
Premises and equipment, net	78	73	61	56	52
Bank owned life insurance	89	87	49	48	43
Deferred tax assets	27	36	14	19	5
Accrued interest receivable	18	16	13	12	9
Intangible assets, net	28	34	—	105,000	—
Other assets	71	75	42	46	28
Total assets	5,271	5,092	3,742	3,554	3,369
Noninterest-bearing	954	936	645	773	738
Interest-bearing	3,480	3,472	2,634	2,274	2,226
Total deposits	4,434	4,408	3,279	3,047	2,963
Short-term borrowings	33	16	18	115	—
Long-term debt	134	99	25	555,000	3
Subordinated debt	83	33	33	33	33
Junior subordinated debt	8	8	—	—	—
Accrued interest payable	7	6	6	903,000	408,000
Other liabilities	51	54	41	42	30
Total liabilities	4,751	4,623	3,402	3,238	3,029
Common stock, par value $2.00, authorized 25,000,000 shares, issued and outstanding 9,994,595, shares at December 31, 2025, and 9,990,724 shares at December 31, 2024	20	20	14	14	14
Capital surplus	251	251	122	127	128
Retained earnings	274	239	249	231	204
Accumulated other comprehensive loss	−25	−41	−44	−56	−6
Total stockholders' equity	520	469	340	315	340
Total liabilities and stockholders' equity	5,271	5,092	3,742	3,554	3,369

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	59	8	27	38	44
Depreciation of premises and equipment	3	3	3	3	3
Amortization of right-of-use lease asset	807,000	470,000	598,000	583,000	449,000
Amortization of net deferred loan (fees) costs	−62,000	−1	694,000	1	−491,000
Amortization of debt issuance costs	237,000	—	—	—	—
Amortization of CDI and other intangibles	6	3	105,000	363,000	—
Amortization expense related to acquired borrowings	468,000	387,000	—	—	—
Accretion income related to acquired loans	−16	−9	—	—	—
Amortization expense related to acquired deposits	698,000	1	—	—	—
Amortization of low income housing partnerships	2	472,000	431,000	454,000	427,000
Net unrealized (gain) loss on equity investments	−168,000	−132,000	11,000	31,000	−2,000
Net loss (gain) on sale of other real estate owned	5,000	—	−18,000	−478,000	−126,000
Valuation allowance on other real estate	212,000	818,000	—	—	—
Loans originated for sale	−10	−3	−4	−12	—
Proceeds from sale of loans originated for sale	9	3	4	13	25
Net (gain) loss on sale of loans originated for sale	−56,000	3,000	12,000	−47,000	−331,000
Net (accretion) amortization of investment securities	−3	−811,000	1	1	1
Net loss (gain) on sale of investment securities available for sale	2	−1,000	−81,000	2	—
Gain from bank owned life insurance settlement	−118,000	−172,000	—	—	—
Deferred income tax expense (benefit)	5	−4	1	611,000	450,000
Stock compensation, including tax effects and expenses	348,000	786,000	888,000	534,000	546,000
Accrued interest receivable	−2	5	−1	−3	−273,000
Other assets	6	8	−2	−2	1
Accrued interest payable	1	−2	5	495,000	−328,000
Other liabilities	−8	2	−3	−48,000	2
Net cash provided by operating activities	54	35	33	42	41
Proceeds from sales of investment securities available for sale	76	241	67	44	—
Proceeds from sales of equity investments	—	2	—	—	—
Available for sale	127	58	25	41	58
Held to maturity	6	7	6	6	3
Available for sale	−168	−5	—	−113	−292
Net (purchase) redemption of restricted equity securities	−2	−5	4	−6	1
Purchase of equity securities without readily determinable fair value	−328,000	−802,000	—	—	—
Calls and maturities of equity securities without readily determinable fair value	500,000	—	—	—	—
Net cash received in merger with FNCB Bancorp, Inc.	—	28	—	—	—
Net (increase) decrease in loans	−61	62	−123	−403	−152
Purchases of premises and equipment	−11	−3	−6	−8	−5
Proceeds from the sale of premises and equipment	7	2	14,000	170,000	58,000
Proceeds from bank owned life insurance	968,000	596,000	—	1	451,000
Proceeds from sale of other real estate owned	22,000	—	139,000	966,000	925,000
Net cash (used in) provided by investing activities	−24	386	−26	−468	−440
Net increase (decrease) in deposits	26	−300	232	83	526
Proceeds from long-term debt	76	—	25	—	—
Repayment of long-term borrowings	−41	−23	−555,000	−2	−12
Net increase (decrease) in proceeds from short-term borrowings	17	−131	−97	115	−50
Proceeds from the issuance of subordinated debt, net of issuance costs	83	—	—	—	—
Repayment of subordinated debt	−33	—	—	—	—
Retirement of common stock	—	—	−6	−1	−2
Cash dividends paid	−25	−18	−12	−11	−11
Net cash provided by (used in) financing activities	103	−473	142	183	451
Net increase (decrease) in cash and cash equivalents	133	−52	149	−242	52
Interest	92	96	58	15	10
Income taxes	8	2	3	10	7
Cumulative effect of adoption of ASC 326 on retained earnings, net of tax	—	—	2	—	—
Transfers of fixed assets to other real estate	433,000	2	—	—	544,000
Transfers of loans to other real estate	750,000	27,000	—	—	—
Origination of mortgage servicing rights	101,000	609,000	—	—	—

Filings

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Holdings (13F)

Portfolio as of 2026-01-14 · 423 positions

Reported AUM

$231.25M

Holdings

423

Top sector

$231.25M

Top sectors

Sector	Value	% of portfolio
Uncategorized	$231.25M	100.0%

Top holdings

Issuer	Ticker	Shares	Value	%
PEOPLES FINL SVCS CORP	—	348.2K	$17.57M	7.6%
APPLE COMPUTER INC COM	—	54.5K	$9.52M	4.1%
MICROSOFT CORP	—	24.2K	$7.47M	3.2%
PEPSICO INC COM	—	29.6K	$4.95M	2.1%
MCDONALDS CORP COM	—	18.3K	$4.53M	2.0%
PROCTER & GAMBLE CO COM	—	25.4K	$3.89M	1.7%
MASTERCARD INCORPORATED	—	10.7K	$3.81M	1.6%
PFIZER INC COM	—	72.1K	$3.73M	1.6%
AMAZON COM INC COM	—	1.0K	$3.27M	1.4%
JOHNSON & JOHNSON COM	—	18.3K	$3.25M	1.4%