---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-057415"
form_type: "8-K"
ticker: "PFIS"
cik: "0001056943"
company_name: "PEOPLES FINANCIAL SERVICES CORP."
filed_at: "2025-06-06T23:59:59+00:00"
generated_at: "2026-05-19T17:59:11.753693+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Peoples FS closes $85M 7.75% subordinated note offering; oversubscribed and upsized

## Summary
- Issued $85M of 7.75% Fixed-to-Floating Subordinated Notes due 2035; fixed rate until June 2030 then SOFR+411bps quarterly.
- Proceeds to redeem existing subordinated debt and for general corporate purposes; qualifies as Tier 2 regulatory capital.
- Offering oversubscribed and upsized due to strong investor demand; sole placement agent Performance Trust Capital Partners.
- CEO cited strong execution on FNCB merger; management noted disciplined capital management approach.

## SEC filing metadata
- accession: 0001104659-25-057415
- form_type: 8-K
- ticker: PFIS
- cik: 0001056943
- company_name: PEOPLES FINANCIAL SERVICES CORP.
- filed_at: 2025-06-06T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1056943/000110465925057415/0001104659-25-057415-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1056943/000110465925057415/tm2517333d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-057415
- JSON: https://secwatch.observer/filing/0001104659-25-057415.json
- Plain text: https://secwatch.observer/filing/0001104659-25-057415.txt

## Key facts
- Debt Financings
  PEOPLES FINANCIAL SERVICES CORP. incurred senior notes of $85.0 million with certain qualified institutional buyers and institutional accredited investors at 7.75% maturing June 15, 2035.
  - Instrument: senior notes
  - Principal: $85.0 million
  - Counterparty: certain qualified institutional buyers and institutional accredited investors
  - Rate: 7.75%
  - Maturity: June 15, 2035
  - Event: incurrence
  source text: On June 6, 2025, Peoples Financial Services Corp. (the “Company”) entered into Subordinated Note Purchase Agreements (collectively, the “Subordinated Note Purchase Agreements”) with certain qualified institutional buyers and institutional accredited investors (collectively, the “Subordinated Note Purchasers”) pursuant to which the Company issued and sold $85.0 million in aggregate principal amount of its 7.75% Fixed-to-Floating Rate Subordinated Notes due 2035
  evidence_url: https://www.sec.gov/Archives/edgar/data/1056943/000110465925057415/0001104659-25-057415-index.htm

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