secwatch.observer — SEC 8-K summary
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Issuer:     PEOPLES FINANCIAL SERVICES CORP. (PFIS)
CIK:        0001056943
Form:       8-K
Filed at:   2024-07-01T23:59:59+00:00
Accession:  0001104659-24-076605
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 2.01, 2.03, 5.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Peoples Financial completes merger with FNCB Bancorp, creating $5.5B community bank
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- Merger effective July 1, 2024; each FNCB share converted to 0.1460 PFIS shares; total consideration ~2.94M shares.
- Combined assets ~$5.5B, loans ~$4.0B, deposits ~$4.7B; operations in PA, NY, NJ.
- Board expands to 16 directors: 8 from each legacy company; Jerry Champi named President, James Bone Jr. COO.
- Peoples assumes $10.31M of FNCB's floating rate junior subordinated debentures due 2036.
- Combined entity trades under PFIS on Nasdaq; all branches to operate under Peoples banner.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1056943/000110465924076605/0001104659-24-076605-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1056943/000110465924076605/tm2418346d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-076605

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