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Dec 31, 2024
Peoples Financial Q4 2024 Earnings Report
Net income increased due to lower provisions for credit losses and noninterest expenses, offsetting reduced net interest income. The merger with FNCB Bancorp was consummated on July 1, 2024, impacting financial results.
Key Takeaways
Peoples Financial Services Corp. reported a net income of $6.1 million, or $0.61 per diluted share, for Q4 2024, which is an increase compared to the net loss of $4.3 million, or $0.43 per diluted share, for the previous quarter. Core net income, excluding non-recurring acquisition-related expenses, was $10.0 million, or $0.99 per diluted share.
Net income increased primarily due to lower provisions for credit losses and noninterest expenses.
Core net income, excluding non-recurring acquisition related expenses, totaled $10.0 million or $0.99 per diluted share.
Pre-provision net revenue (PPNR) was $9.6 million or $0.96 per diluted share.
Core pre-provision net revenue (PPNR) was $14.6 million or $1.46 per diluted share.