PFIS · Peoples Financial Services Corp.

Peoples Financial Services Corp. (PFIS) reported strong Q1 2026 results, with net income of $14.7 million ($1.47 per diluted share), up from $11.9 million ($1.19 per share) in Q4 2025. The improvement was driven by a higher net interest margin (FTE) of 3.67% (up 7 bps QoQ) and an improved efficiency ratio of 57.1% (down from 59.5%). The company completed a partial securities portfolio repositioning, selling $31.9 million in agency MBS at a pre-tax gain of ~$0.5 million. Asset quality remained strong with NPAs/assets at 0.23% and net charge-offs annualized at 0.08%. Tangible book value per share increased $0.65 to $42.29. The company's merger with FNCB on July 1, 2024, continues to provide scale and diversification. Management highlighted a cost of deposits of 1.70% and a loan/deposit ratio of 94.7%. Total available liquidity stood at $3.2 billion. The presentation also noted the company's #2 deposit market share in the Scranton MSA and #7 largest Pennsylvania community bank by assets.