Business
PEOPLES FINANCIAL SERVICES CORP. ANNOUNCES RESTART OF COMMON STOCK REPURCHASE PLAN
SCRANTON, Pa., May 11, 2023 /PRNewswire/ -- Peoples Financial Services Corp. ("Peoples") (NASDAQ: PFIS), the bank holding company for Peoples Security Bank
About this update from Peoples Financial Services Corp.
[{"type":"text","content":"SCRANTON, Pa., May 11, 2023 /PRNewswire/ -- Peoples Financial Services Corp. (\"Peoples\") (NASDAQ: PFIS), the bank holding company for Peoples Security Bank and Trust Company, announced today that it has restarted its previously announced stock repurchase plan after a brief temporary suspension. As of March 31, 2023, there were 258,854 shares of Peoples common stock that may yet be purchased under the stock repurchase plan.\n\n \n \n \n \n \n \n\n \nUnder the stock repurchase plan, the timing, price and volume of repurchases will be based on market conditions, relevant securities laws and other factors. The stock repurchases may be made from time to time on the open market or in privately negotiated transactions. The stock repurchase program does not require Peoples to repurchase any specific number of shares, and Peoples may terminate the repurchase program at any time. As of May 1, 2023, Peoples had approximately 7,150,757 shares of common stock outstanding.\nAbout Peoples Financial Services Corp.Peoples Financial Services Corp. is the parent company of Peoples Security Bank and Trust Company, a community bank serving Allegheny, Bucks, Lackawanna, Lebanon, Lehigh, Luzerne, Monroe, Montgomery, Northampton, Schuylkill, Susquehanna, and Wyoming Counties in Pennsylvania, Middlesex County in New Jersey and Broome County in New York through 28 offices. 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. Peoples' business philosophy includes offering direct access to senior management and other officers and providing friendly, informed and courteous service, local and timely decision making, flexible and reasonable operating procedures and consistently applied credit policies.\nSafe Harbor Forward-Looking Statements:We make statements in this press release, and we may from time to time make other statements regarding our outlook or expectations for future financial or operating results and/or other matters regarding or affecting Peoples Financial Services Corp. and Peoples Security Bank and Trust Company (collectively, \"Peoples\") that are considered \"forward-looking statements\" as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange A...