Peoples Financial Services Corp. Completes Merger with FNCB Bancorp, Inc.

Strategic Insights -

The merger of FNCB Bancorp, Inc. with and into Peoples Financial Services Corp. has been completed, creating a leading $5.6 billion community bank with operations in Pennsylvania, New York, and New Jersey. The combination of Peoples and FNCB will benefit customers and the communities they serve, create new opportunities for employees, and drive long-term growth and shareholder value.

Key Takeaways:

  • The merged organization has approximately $5.5 billion in assets, with approximately $4.0 billion in loans and $4.7 billion in deposits.
  • The combined company will operate under the Peoples banner, with 44 full-service community banking offices across Pennsylvania, New Jersey, and New York.
  • Peoples' business philosophy includes offering direct access to senior management and other officers, providing friendly, informed, and courteous service, and local and timely decision-making.
  • The merger is expected to create new opportunities for employees and drive long-term growth and shareholder value.
  • The combined company will trade under the Peoples ticker symbol (PFIS) on the Nasdaq Global Select Stock Market.

Statistics:

  • Total assets: $5.5 billion
  • Total loans: $4.0 billion
  • Total deposits: $4.7 billion
  • Number of full-service community banking offices: 44
  • Geographic areas served: Pennsylvania, New York, and New Jersey

Sources:

  • Peoples Financial Services Corp. press release, July 1, 2024.
  • Peoples Financial Services Corp. Form 8-K filing with the SEC, July 1, 2024 (not available in the provided text).
  • Peoples Financial Services Corp. Annual Report on Form 10-K for the year ended December 31, 2023 (not available in the provided text).