Peoples Financial Services Corp. · NASDAQ:PFIS
Peoples Financial Services — Q1 2025 Earnings Presentation
30 slides from Peoples Financial Services's earnings presentation, Jun 3, 2025
Slide 1: Q1 2025 Investor Presentation
Q1 2025 Investor Presentation Peoples Financial Services Corp. Holding Company for: CONFIDENTIAL
Slide 2: Disclaimer and non-GAAP notice
2 This presentation (this “Presentation”) has been prepared solely for general informational purposes by Peoples Financial Services Corp. (the “Company,” the “holding company,” “we” or “our”), a bank holding company registered under the Bank Holding Company Act of 1956, as amended, and 100% owner of
Slide 3: Q1 2025 Results
Source: S&P Capital IQ Pro, Company-provided documents; consolidated (GAAP) financial data as March 31, 2025 (1) TCE / TA is a non-GAAP financial measure; please see page 30 for a reconciliation // (2) Tangible book value per share is a non-GAAP financial measure; please see page 30 for a reconcilia
Slide 4: Peoples Financial Services Corp. Overview
Source: S&P Capital IQ Pro, Company website, Company-provided documents; consolidated (GAAP) financial data as March 31, 2025 (1) TCE / TA is a non-GAAP financial measure; please see page 30 for a reconciliation // (2) Tangible book value per share is a non-GAAP financial measure; please see page 30
Slide 5: Company Highlights
Source: S&P Capital IQ Pro, Company-provided documents (1) Median of all commercial banks HQ in Pennsylvania for the quarter ended March 31, 2025 // (2) Branch-level deposits data as of June 30, 2024 // (3) ROATCE is a non-GAAP financial measure; please see page 30 for a reconciliation 5 Company Hig
Slide 6: Branch Footprint and Deposit Market Share
Source: S&P Capital IQ Pro; bank-level financial data as of March 31, 2025 // branch-level deposit data as of June 30, 2024 (1) Banks with total assets less than $10.0B, total assets shown at bank-level 6 Branch Footprint and Deposit Market Share Branch Footprint #2 in Scranton MSA Deposit Market Sh
Slide 7: Principal Markets Overview
Source: S&P Capital IQ Pro unless otherwise indicated (1) ScrantonPlan.com // (2) PA.gov // (3) LehighValley.org 7 Principal Markets Overview • Population of ~572k people; the Scranton—Wilkes-Barre, PA MSA includes 23 PFIS branches • ~16% market share; accounts for ~57% of PFIS’s deposit franchise •
Slide 8: Experienced Management Team
Source: Company-provided documents Note: Years at Bank includes time spent at companies acquired by PFIS 8 Experienced Management Team Gerard A. Champi – Chief Executive Officer Years in Banking: 42 | Years at Bank: 34 Gerard A. Champi, was appointed Chief Executive Officer the Company and the Bank
Slide 9: Experienced Management Team
Source: Company-provided documents Note: Years at Bank includes time spent at companies acquired by PFIS 9 Experienced Management Team Jeffrey A. Drobins – EVP & Chief Lending Officer Years in Banking: 18 | Years at Bank: 11 Jeffrey A. Drobins, Executive Vice President and Chief Lending Officer of t
Slide 10: Experienced Management Team
Source: Company-provided documents Note: Years at Bank includes time spent at companies acquired by PFIS 10 Experienced Management Team Amy E. Vieney – SVP and Chief Human Resource Officer Years in Banking: 3 | Years at Bank: 3 Amy E. Vieney, Senior Vice President and Chief Human Resource Officer of
Slide 11: Strong Balance Sheet Growth
Source: S&P Capital IQ Pro; consolidated (GAAP) financial data as of March 31, 2025 11 Strong Balance Sheet Growth $2,963 $3,047 $3,279 $4,408 $4,317 – $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 2021 2022 2023 2024 2025Q1 $2,301 $2,703 $2,828 $3,952 $3,951 – $1,000 $2,000 $3,000 $4,000 $5,000 $6,000
Slide 12: Historical Bank Loan Composition & Yields
Historical Bank Loan Composition & Yields Source: S&P Capital IQ Pro; Bank-level financial data as of March 31, 2025 Note: 2024-year yields use the average of the quarterly average balance for the denominator // (1) Annualized yields for the three months ended March 31, 2025 12 Bank continues to mai
Slide 13: CRE Portfolio Breakdown: Non-Owner Occupied
CRE Portfolio Detailed Breakdown by Asset Type Source: Company-provided documents; Bank-level financial data as of March 31, 2025 13 Non-Owner Occupied CRE Portfolio Composition at March 31, 2025 ($ in thousands) Non-Owner Occupied Loan Category Number of Loans Average Loan Size Loan Balance Wtd Ave
Slide 14: CRE Portfolio Breakdown: Owner Occupied
CRE Portfolio Detailed Breakdown by Asset Type Source: Company-provided documents; Bank-level financial data as of March 31, 2025 14 Owner Occupied CRE Portfolio Composition at March 31, 2025 ($ in thousands) Owner Occupied Loan Category Number of Loans Average Loan Size Loan Balance Wtd Average Int
Slide 15: Commercial Real Estate Portfolio Details
$221 $154 $233 $107 $181 10.52% 7.32% 11.07% 5.09% 8.60% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% $0 $50 $100 $150 $200 $250 2025 2026 2027 2028 2029+ Balance % of CRE Loans $147 $193 $206 $205 $124 6.99% 9.20% 9.79% 9.73% 5.89% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% $0 $50 $100 $150 $200 $2
Slide 16: Asset Quality Summary
C&I - Other 8% C&I - Equipment Financing 6% CRE 71% 1-4 Family 11% Consumer 4% Source: S&P Capital IQ Pro; consolidated (GAAP) financial data as of March 31, 2025 16 Asset Quality Summary Summary Metrics • Nonperforming loans to total loans: • 0.58% at March 31, 2025 compared to 0.56% as of December
Slide 17: Deposit Composition
44% 49% 54% 51% 44% 49% 48% 19% 18% 17% 17% 13% 11% 12% 19% 20% 20% 22% 24% 21% 22% 19% 13% 10% 10% 19% 18% 18% $1,971 $2,437 $2,963 $3,047 $3,279 $4,408 $4,317 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% – $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 2019 2020 2021 2022 2023
Slide 18: Cost of Deposits Over Time Compared to Wholesale Rates
0.81 0.78 0.71 0.53 0.48 0.43 0.34 0.30 0.25 0.22 0.20 0.22 0.44 0.82 1.25 1.71 2.02 2.26 2.33 2.32 2.34 2.21 1.93 2.30 1.83 1.42 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.29 0.94 2.35 3.82 4.69 5.16 5.43 5.50 5.50 5.50 5.43 4.82 4.50 (0.50) 1.13 2.75 4.38 6.00 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q
Slide 19: Net Interest Income & Net Interest Margin
$84,635 $95,749 $86,754 $115,989 $158,192 2.99% 3.02% 2.54% 2.84% 3.50% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% $- $30,000 $60,000 $90,000 $120,000 $150,000 $180,000 2021 2022 2023 2024 2025Q1 Ann. NII NIM 3.94% 4.04% 4.81% 5.62% 5.92% 1.94% 1.67% 1.77% 2.43% 2.95% 0.27% 0.42% 1.82% 2.29% 1.93% 0.
Slide 20: Non-Interest Income & Expense
16.54 15.94 13.74 12.64 13.95 13.46 12.22 2019 2020 2021 2022 2023 2024 2025Q1 Ann. Source: S&P Capital IQ Pro; consolidated (GAAP) financial data as of March 31, 2025 (1) 2025Q1 Ann. for the annualized three months ended March 31, 2025 20 Non-Interest Income & Expense Non-Interest Income / Operatin
Slide 21: Core Net Revenue Detail
Core Net Revenue Detail Source: S&P Capital IQ Pro; consolidated (GAAP) financial data as of March 31, 2025 (1) 2025Q1 Ann. for the annualized three months ended March 31, 2025 21 The Company has managed to maintain a strong P&L amidst recent headwinds for the banking industry. Pend $79,801 $84,635
Slide 22: Regulatory Bank Capital Ratios
Source: S&P Capital IQ Pro; Bank-level financial data as of March 31, 2025 22 Regulatory Bank Capital Ratios (2) 10.08% 9.58% 9.69% 9.34% 8.37% 8.92% 13.74% 13.76% 12.64% 13.30% 10.95% 11.38% 14.99% 15.01% 13.66% 14.12% 12.04% 12.45% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% 18.00% 2
Slide 23: Regulatory Consolidated Capital Ratios
Source: S&P Capital IQ Pro; consolidated (GAAP) financial data as of March 31, 2025 23 Regulatory Consolidated Capital Ratios (2) 9.28% 9.16% 9.03% 8.50% 7.97% 8.49% 10.16% 10.55% 12.16% 12.32% 11.13% 12.10% 10.41% 10.81% 15.10% 13.56% 12.13% 14.16% 12.34% 12.73% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00%
Slide 24: Asset-Liability Management Profile
Net Interest Income Sensitivity Profile Interest Rate Scenario -400 -300 -200 -100 +100 +200 +300 +400 Net Interest Income Change - Next 12 Months -1.2% -0.7% -0.4% 0.2% -0.9% -2.2% -3.3% -4.4% Net Interest Income Change - Next 24 Months -8.8% -6.5% -2.1% 2.2% 7.7% 8.7% 10.3% 12.0% Economic Value of
Slide 25: Appendix
Appendix
Slide 26: Historical Financial Summary
12/31/2021 For the Years Ended: For the Quarters Ended: 3/31/2025 12/31/2021 12/31/2022 12/31/2023 12/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 CAGR Balance Sheet Total Assets ($000) 3,369,483 3,553,515 3,742,289 5,091,657 3,616,055 5,360,138 5,091,657 4,999,358 12.9% Total Securities ($000)
Slide 27: Historical Consolidated Balance Sheet
Source: S&P Capital IQ Pro, Company-provided documents; consolidated (GAAP) financial data as of March 31, 2025 (1) As of March 31, 2025 // (2) Senior Debt includes Long-term debt (including long-term FHLB borrowings), short-term borrowings, and lease liabilities; PFIS does not have outstanding Seni
Slide 28: Historical Consolidated Income Statement
Source: S&P Capital IQ Pro, Company-provided documents; consolidated (GAAP) financial data as of March 31, 2025 (1) For the three months ended March 31, 2025 // (2) Includes Realized Gain on Securities and Nonrecurring Revenue 28 Historical Consolidated Income Statement Year-Ended December 31, Quart
Slide 29: Non-GAAP Financial Measures Reconciliation
Source: S&P Capital IQ Pro; consolidated (GAAP) financial data as of March 31, 2025 29 Non-GAAP Financial Measures ($ in thousands) Reconciliation | TCE / TA, TBVPS, & ROATCE 2021Y 2022Y 2023Y 2024Y 2024Q1 2024Q2 2024Q3 2024Q4 2025Q1 Total Equity $340,126 $315,350 $340,422 $468,950 $339,992 $340,807
Slide 30: Provide BETTER BANKING to strengthen our communities
NASDAQ: PFIS Provide BETTER BANKING to strengthen the communities where we live, work, and play.
Peoples Financial Services — Q1 2025 Earnings Presentation on 6ix