---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-006975"
form_type: "8-K"
ticker: "PFIS"
cik: "0001056943"
company_name: "PEOPLES FINANCIAL SERVICES CORP."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T07:55:00.122168+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Peoples Financial Services Q1 net income falls 21.3% to $1.05 EPS; provision and expenses rise

## Summary
- Net income $7.6M ($1.05 diluted) vs $9.6M ($1.33) a year ago; net interest income up $0.4M.
- Provision for credit losses increased to $1.3M from $0.3M due to loan growth and CECL adoption.
- Noninterest expenses rose $2.2M on higher salaries, FDIC assessments, and loan processing fees.
- Sold $65.6M in investment securities at $81k net gain to reduce short-term borrowings.
- Adopted CECL: decreased allowance by $3.3M, increased retained earnings by $2.3M net of tax.

## SEC filing metadata
- accession: 0001558370-23-006975
- form_type: 8-K
- ticker: PFIS
- cik: 0001056943
- company_name: PEOPLES FINANCIAL SERVICES CORP.
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1056943/000155837023006975/0001558370-23-006975-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1056943/000155837023006975/pfis-20230427x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-006975
- JSON: https://secwatch.observer/filing/0001558370-23-006975.json
- Plain text: https://secwatch.observer/filing/0001558370-23-006975.txt

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