---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-104464"
form_type: "8-K"
ticker: "PFIS"
cik: "0001056943"
company_name: "PEOPLES FINANCIAL SERVICES CORP."
filed_at: "2023-09-28T23:59:59+00:00"
generated_at: "2026-06-10T07:23:32.899303+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "medium"
source: SEC EDGAR
---

# Peoples Financial to acquire FNCB Bancorp in all-stock merger

## Summary
- FNCB shareholders to receive 0.1460 shares of Peoples common stock per FNCB share; deal includes customary conditions.
- Termination fee of $4.8 million payable by either party upon termination under certain circumstances.
- Combined board will have 16 directors initially; FNCB CEO Gerard A. Champi to become CEO after one year.
- Directors of both companies entered into voting agreements to vote in favor of the merger.
- CFO John R. Anderson III receives amended severance with 24-month payments upon change-in-control termination.

## SEC filing metadata
- accession: 0001104659-23-104464
- form_type: 8-K
- ticker: PFIS
- cik: 0001056943
- company_name: PEOPLES FINANCIAL SERVICES CORP.
- filed_at: 2023-09-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: medium
- sec_items: 1.01, 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1056943/000110465923104464/0001104659-23-104464-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1056943/000110465923104464/tm2327017d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-104464
- JSON: https://secwatch.observer/filing/0001104659-23-104464.json
- Plain text: https://secwatch.observer/filing/0001104659-23-104464.txt

## Key facts
- Material Agreements
  PEOPLES FINANCIAL SERVICES CORP. entered into Agreement and Plan of Merger with FNCB Bancorp, Inc. (effective 2023-09-27).
  - Action: entry
  - Agreement: merger
  - Counterparty: FNCB Bancorp, Inc.
  - Effective: 2023-09-27
  source text: On September 27, 2023, Peoples Financial Services Corp., a Pennsylvania corporation (“Peoples”), and FNCB Bancorp, Inc., a Pennsylvania corporation (“FNCB”), entered into an Agreement and Plan of Merger (the “Merger Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1056943/000110465923104464/0001104659-23-104464-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.