Peoples Financial Services Corp. Reports Officer/Director Changes

TL;DR

Peoples Financial Services Corp. (PFSC) filed an 8-K detailing leadership changes and compensation updates as of Jan 31, 2025.

AI Summary

Peoples Financial Services Corp. filed an 8-K on February 4, 2025, reporting events as of January 31, 2025. The filing indicates a departure of directors or certain officers, the election of directors, the appointment of certain officers, and details compensatory arrangements for certain officers. It also covers other events and financial statements/exhibits.

Why It Matters

Changes in corporate leadership and officer compensation can signal shifts in company strategy or governance, impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Changes in directors and officers, especially if unexpected, can introduce uncertainty about future strategy and operations.

Key Players & Entities

• PEOPLES FINANCIAL SERVICES CORP. (company) — Registrant
• PA (jurisdiction) — State of incorporation
• 150 North Washington Avenue, Scranton, Pennsylvania 18503-1848 (address) — Principal Executive Offices

FAQ

Key Financial Figures

• $2.00 — nge on which registered Common Stock, $2.00 par value PFIS The Nasdaq Stock Mar
• $290,000 — Mr. Bone shall be paid a base salary of $290,000 on an annualized basis that may be incr

Filing Documents

• tm255372d1_8k.htm (8-K) — 36KB
• tm255372d1_ex10-1.htm (EX-10.1) — 107KB
• tm255372d1_ex99-1.htm (EX-99.1) — 9KB
• 0001104659-25-009129.txt ( ) — 354KB
• pfis-20250131.xsd (EX-101.SCH) — 3KB
• pfis-20250131_lab.xml (EX-101.LAB) — 33KB
• pfis-20250131_pre.xml (EX-101.PRE) — 22KB
• tm255372d1_8k_htm.xml (XML) — 3KB

02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On January 31, 2025, the boards of directors of Peoples Financial Services Corp., a Pennsylvania corporation ("PFIS "), and its banking subsidiary, Peoples Security Bank and Trust Company ("PSBT"), approved the appointment of James M. Bone, Jr., CPA as Chief Financial Officer of PFIS and PSBT, a role in which he will serve as the principal financial officer and principal accounting officer of PFIS, and the appointment of John R. Anderson, III as Chief Operating Officer of PFIS and PSBT, a role in which he will serve as the principal operating officer of PFIS, in each case effective as of March 31, 2025. At that time, Mr. Anderson will cease to be the principal financial officer and principal accounting officer of PFIS and Thomas P. Tulaney, the President of PFIS and PSBT, will cease to be the principal operating officer of PFIS. Mr. Bone, 63, is Executive Vice President and Chief Operations Officer of PFIS and PSBT, a position he has held since the consummation of PFIS' merger with FNCB Bancorp., Inc. on July 1, 2024. From September 2012 until the merger, he served as Executive Vice President and Chief Financial Officer/Treasurer of FNCB Bancorp., Inc. and its banking subsidiary, FNCB Bank. Mr. Bone is a licensed Certified Public Accountant and is an active member of several professional, business and community organizations including the American Institute of Certified Public Accountants and Pennsylvania Institute of Certified Public Accountants. Mr. Bone is a former member of the Issuer Advisory Council of the OTCQX and a former member of the Advisory Board for the Federal Home Loan Bank of Pittsburgh. Mr. Bone is also active in the community with King's College and currently serves as Vice President of Finance and Board Member of the Northeastern Pennsylvania Council Boy Scouts of America. Mr. Anderson, 58

01 Other Events

Item 8.01 Other Events. On February 4, 2025, PFIS issued a press release announcing the appointments of Mr. Bone and Mr. Anderson to their new officer positions. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits The following exhibits are filed with this form 8-K: Exhibit No. Description 10.1 Amended and Restated Employment Agreement, entered into as of November 27, 2024 by and among Peoples Security Bank and Trust Company, Peoples Financial Services Corp. and James M. Bone, Jr. 99.1 Press release dated February 4, 2025 announcing officer appointments. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PEOPLES FINANCIAL SERVICES CORP. By: /s/ Gerard A. Champi Gerard A. Champi Chief Executive Officer (Principal Executive Officer) Dated: February 4, 2025

View Full Filing

View this 8-K filing on SEC EDGAR