PEOPLES FINANCIAL SERVICES Business Summary

Peoples Financial Services Corp. (PFIS) operates as the bank holding company for Peoples Security Bank and Trust Company, a regional financial institution with approximately $5.5 billion in assets following its 2024 merger with FNCB Bancorp. The company generates revenue primarily through net interest income derived from a $4.0 billion loan portfolio, which is segmented into commercial and industrial lending, commercial real estate, municipal financing, and consumer retail loans. Secondary revenue streams include non-interest income from wealth management advisory fees, service charges on deposit accounts, and credit card processing services. PFIS maintains a significant regional presence with over 40 full-service offices across Pennsylvania, New York, and New Jersey, positioning itself as a dominant community-focused alternative to larger national banks. Its primary direct competitors include CNB Financial Corp. (CCNE), Community Trust Bancorp (CTBI), and First Community Bancshares (FCBC), against whom PFIS competes by leveraging its #2 deposit market share in the Scranton-Wilkes Barre metropolitan area and its high-touch local decision-making model. The leadership team is currently led by Chief Executive Officer Gerard A. "Jerry" Champi, who assumed the role in January 2025 following a successful tenure as President of FNCB Bank. He is supported by Executive Vice President and CFO James M. Bone, Jr., and Executive Vice President and COO John Anderson, both of whom bring extensive experience in regional bank operations and post-merger integration. Thomas P. Tulaney currently serves as President but is slated for retirement in April 2026, at which point CEO Gerard Champi is expected to consolidate the presidential duties. The board is chaired by William E. Aubrey II, with notable regional businessman Louis A. DeNaples serving as Independent Vice Chairman. The company’s investor profile is unique for its size, with approximately 60% of shares held by individual investors, reflecting its deep roots and stability within its core Pennsylvania markets.