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Sep 30, 2021
Peoples Financial Q3 2021 Earnings Report
Peoples Financial reported an increase in net income and core net income for Q3 2021.
Key Takeaways
Peoples Financial Services Corp. reported a net income of $9.1 million, or $1.26 per diluted share, for the three months ended September 30, 2021, which is a 10.5% increase compared to the same period in 2020. The increase in earnings was primarily due to a $2.1 million increase in pre-provision net interest income and a $0.6 million decrease in the provision for loan losses.
Net income increased by 10.5% compared to the same period last year.
Core net income per share increased by 15.6% compared to the same period last year.
Tax-equivalent net interest income increased by $2.1 million or 10.6% compared to the same period last year.
Deposits grew $229.2 million or 8.8% during the three months ended September 30, 2021.