Peoples Financial Services Corp. Q1 2026 Earnings Release

Peoples Financial Services Corp. reported unaudited financial results for the first quarter ended March 31, 2026. Net income was $14.7 million, or $1.47 per diluted share, a slight decrease from $15.0 million, or $1.49 per diluted share, in the same period of 2025. This reduction was primarily attributed to an increased provision for credit losses due to strong loan growth and higher non-interest expenses, partially offset by growth in net interest income and non-interest income. The company highlighted a stable first quarter performance despite a challenging operating environment, with return on average assets at 1.15% and return on average equity at 11.26%. Total loans increased by 12.3% year-over-year to $4.2 billion. The company also completed a repositioning of its investment securities portfolio, resulting in a pre-tax gain. Asset quality remained strong, with non-performing assets as a percentage of total loans improving compared to the previous year. The company is focused on disciplined expense management, credit oversight, and strategic investments to support sustainable growth.