SCRANTON, Pa., Feb. 4, 2025
/PRNewswire/ -- The Board of Directors of Peoples Financial
Services Corp. ("PFIS") (NASDAQ: PFIS) announced today that
James M. Bone, Jr., CPA, Executive
Vice President and Chief Operations Officer of PFIS and its banking
subsidiary, Peoples Security Bank and Trust Company ("PSBT"), will
become Chief Financial Officer effective as of March 31, 2025. At the same time, John R. Anderson, III, Executive Vice President
and Chief Financial Officer, will become Chief Operating Officer of
PFIS and PSBT.
Mr. Bone and Mr. Anderson, both seasoned professionals, bring a
wealth of experience and a shared commitment to advancing PFIS'
mission to provide better banking to strengthen the communities
where we live, work, and play.
PFIS is the bank holding company of PSBT, an independent
community bank serving its retail and commercial customers through
39 full-service community banking offices located within the
Allegheny, Bucks, Lackawanna, 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. PSBT's business philosophy includes
offering direct access to senior management and other officers and
providing friendly, informed and courteous service, local and
timely. For more information, visit psbt.com.
Forward-looking Statements
This communication includes "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended,
with respect to the beliefs, goals, intentions, and expectations of
PFIS; and other statements that are not historical facts.
Forward–looking statements are typically identified by such words
as "believe," "expect," "anticipate," "intend," "outlook,"
"estimate," "forecast," "project," "will," "should," and other
similar words and expressions, and are subject to numerous
assumptions, risks, and uncertainties, which change over time.
Additionally, forward–looking statements speak only as of the
date they are made; PFIS does not assume any duty, and does not
undertake, to update such forward–looking statements, whether
written or oral, that may be made from time to time, whether as a
result of new information, future events, or otherwise.
Furthermore, because forward–looking statements are subject to
assumptions and uncertainties, actual results or future events
could differ, possibly materially, from those indicated in or
implied by such forward-looking statements as a result of a variety
of factors, many of which are beyond the control of PFIS. Such
statements are based upon the current beliefs and expectations of
the management of PFIS and are subject to significant risks and
uncertainties outside of the control of PFIS. Caution should be
exercised against placing undue reliance on forward-looking
statements. The factors that could cause actual results to differ
materially include the following: the possibility that the
anticipated benefits of PFIS' merger with FNCB Bancorp, Inc.
("FNCB"), which was consummated July 1,
2024, will not be realized when expected or at all,
including as a result of the impact of, or problems arising from,
the integration of FNCB; the strength of the economy and
competitive factors in the areas where PFIS conducts business;
diversion of management's attention from ongoing business
operations and opportunities; the possibility that PFIS may be
unable to achieve expected synergies and operating efficiencies in
the FNCB merger within the expected timeframes or at all; revenues
following the FNCB merger may be lower than expected; PFIS' success
in executing its business plans and strategies and managing the
risks involved in the foregoing; the dilution caused by PFIS'
issuance of additional shares of its capital stock in connection
with the FNCB merger; the outcome of any legal proceedings that may
be threatened or instituted against PFIS; the ability of PFIS to
meet expectations regarding the accounting and tax treatments of
the FNCB merger; effects of the completion of the FNCB merger on
the ability of PFIS to retain customers and retain and hire key
personnel and maintain relationships with its suppliers, and on its
operating results and businesses generally; changes in interest
rates; and risks related to the potential impact of general
economic, political and market factors on PFIS; legislative and
regulatory changes and the ability to comply with the significant
laws and regulations governing the banking and financial services
business; monetary and fiscal policies of the U.S. government,
including policies of the U.S. Department of Treasury and the
Federal Reserve System; adverse developments in the financial
industry generally, responsive measures to mitigate and manage such
developments, related supervisory and regulatory actions and costs,
and related impacts on customer and client behavior; credit risk
associated with lending activities and changes in the quality and
composition of PFIS' loan and investment portfolios; demand for
loan and other products; deposit flows; competition; changes in the
values of real estate and other collateral securing the loan
portfolio, particularly in PFIS' market area; changes in relevant
accounting principles and guidelines; inability of third party
service providers to perform; PFIS' ability to prevent, detect and
respond to cyberattacks; and the other factors discussed in PFIS'
Annual Reports on Form 10–K and Quarterly Reports on Form 10-Q as
filed with the SEC from time to time.
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SOURCE Peoples Financial Services Corp.
