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Jun 30, 2022
Peoples Financial Q2 2022 Earnings Report
Peoples Financial reported an increase in net income and earnings per share for the second quarter of 2022, driven by growth in net interest income and noninterest income, partially offset by increased provision for loan losses and noninterest expenses.
Key Takeaways
Peoples Financial Services Corp. reported unaudited financial results for Q2 2022, with net income of $9.4 million, or $1.30 per diluted share, a 10.2% increase compared to Q2 2021. The increase was driven by a $3.4 million increase in net interest income and a $0.5 million increase in noninterest income.
Net income increased by 10.2% compared to the same period last year.
Net interest income increased by $3.4 million compared to the year-ago period.
Noninterest income increased by $0.5 million compared to the year-ago period.
Nonperforming assets as a percentage of loans and foreclosed assets improved to 0.18%.