Quarterly ResultApr 30, 2026, 04:28 PM
PFIS Q1 Net Income $14.7M, down from $15.0M; EPS $1.47
AI Summary
Peoples Financial Services Corp. reported unaudited net income of $14.7 million, or $1.47 per diluted share, for Q1 2026, a slight decrease from $15.0 million, or $1.49 per diluted share, in Q1 2025. This reduction was primarily due to increased provision for credit losses from strong loan growth and higher non-interest expense, partially offset by increased net interest income and non-interest income. The company maintained strong asset quality and saw an increase in book value per share.
Key Highlights
- Net income for Q1 2026 was $14.7 million ($1.47 diluted EPS), down from $15.0 million ($1.49 diluted EPS) in Q1 2025.
- Total loans increased by $123.3 million (12.3% annualized) to $4.2 billion at March 31, 2026.
- Book value per common share rose to $52.50 at March 31, 2026, from $48.21 a year prior.
- Tangible book value per common share increased to $42.29 at March 31, 2026, from $37.35 in Q1 2025.
- Non-performing assets to total loans improved to 0.29% at March 31, 2026, from 0.59% in Q1 2025.
- Net interest margin (FTE) widened 17 basis points to 3.67% for Q1 2026 compared to Q1 2025.
- A pre-tax gain of $0.5 million was realized from a partial repositioning of the investment securities portfolio.
- Cash dividends declared for Q1 2026 were $0.625 per share, up from $0.6175 in Q1 2025.