Peoples financial services corp. (PFIS)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Interest income:
Interest and fees on loans:
Taxable

82,488

74,352

64,946

59,902

54,004

54,316

-

-

-

-

-

Taxable

-

-

-

-

-

-

31,102

30,852

32,398

19,417

18,484

Tax-exempt

4,309

3,666

3,163

3,031

2,351

2,265

1,674

1,687

1,187

1,116

962

Interest and dividends on investment securities:
Taxable

4,435

3,799

2,949

2,515

3,207

3,946

1,793

2,282

2,724

2,943

2,611

Tax-exempt

1,878

2,621

2,999

3,438

3,385

3,271

2,625

2,660

3,273

2,027

2,118

Dividends

84

72

52

48

35

50

88

63

64

44

64

Interest on interest-bearing deposits in other banks

65

151

133

50

49

38

86

47

59

4

17

Interest on federal funds sold

122

-

-

-

10

70

2

-

2

26

17

Total interest income

93,381

84,661

74,242

68,984

63,041

63,956

37,370

37,591

39,707

25,577

24,273

Interest expense:
Interest on deposits

14,995

9,346

6,450

5,429

4,953

5,431

2,876

3,424

4,958

4,696

5,328

Interest on short-term borrowings

1,642

2,738

900

402

53

71

34

38

83

389

315

Interest on long-term debt

1,231

1,238

1,348

1,420

1,031

1,140

1,259

1,900

2,298

1,413

1,615

Total interest expense

17,868

13,322

8,698

7,251

6,037

6,642

4,169

5,362

7,339

-

-

Total interest expense

-

-

-

-

-

-

-

-

-

6,498

7,258

Net interest income

75,513

71,339

65,544

61,733

57,004

57,314

33,201

32,229

32,368

19,079

17,015

Provision for loan losses

6,100

4,200

4,800

5,000

3,700

3,524

2,361

924

2,381

2,202

1,735

Net interest income after provision for loan losses

69,413

67,139

60,744

56,733

53,304

53,790

30,840

31,305

29,987

16,877

15,280

Noninterest income:
Service charges, fees and commissions

-

-

-

-

6,245

6,484

4,092

3,680

4,470

3,442

3,014

Merchant services income

-

-

-

-

3,855

3,549

3,936

4,290

4,670

-

-

Commission and fees on fiduciary activities

-

-

-

-

1,946

2,179

1,735

1,481

1,563

-

-

Wealth management income

-

-

-

-

845

752

505

264

253

-

-

Wealth management income

-

-

-

-

-

-

-

-

-

305

341

Mortgage banking income

600

627

784

885

872

648

363

905

585

417

438

Bank owned life insurance income

755

757

769

791

767

778

968

504

490

-

-

Net (losses) gains on equity investment securities

132

14

-

623

-

-

-

-

-

-

-

Net gains on sale of investment securities available-for-sale

23

-

-

-

-

-

-

-

-

-

-

Net gain on sale of credit card loans

-

291

-

-

-

-

-

-

-

-

-

Net gain on sale of investment securities available-for-sale

-

-

-

-

1,189

861

163

317

-

-

-

Net gain on sale of merchant services business

-

-

2,278

-

-

-

-

-

-

-

-

Net gain on sale of investment securities available-for-sale

-

-

-

-

-

-

-

-

666

346

-492

Other-than-temporary impairment of investment securities

-

-

-

-

-

-

-

-

78

-

-

Other-than-temporary impairment of investment equity securities

-

-

-

-

-

-

-

-

-

-164

-206

Net gain (loss) on sale of other real estate owned

-

-

-

-

-

-

-

-

-

-56

-13

Total noninterest income

15,120

13,659

17,186

15,888

15,719

15,251

11,762

11,441

12,619

4,290

3,082

Noninterest expense:
Salaries and employee benefits expense

31,374

28,407

26,670

22,434

21,533

20,652

15,983

14,121

13,951

5,498

5,532

Net occupancy and equipment expense

11,911

10,897

9,975

9,422

9,104

8,102

3,988

2,946

3,561

2,501

2,413

Merchant services expense

-

-

-

2,993

2,643

2,236

2,490

2,742

3,166

-

-

Amortization of intangible assets

730

881

1,034

1,186

1,195

1,334

326

267

304

-

-

Professional fees and outside services

1,758

2,414

2,277

2,128

2,211

-

-

-

-

-

-

FDIC insurance and assessments

651

1,093

826

1,101

-

-

-

-

-

-

-

Donations

1,441

1,339

1,188

1,006

740

-

-

-

-

-

-

Acquisition related expense

-

-

-

-

-

1,725

4,609

0

0

-

-

Other expenses

7,777

7,456

9,323

7,760

9,353

11,884

9,000

9,023

8,059

5,246

4,445

Total noninterest expense

55,642

52,487

51,293

48,030

46,779

45,933

36,396

29,099

29,041

13,245

12,390

Income before income taxes

28,891

28,311

26,637

24,591

22,244

23,108

-

-

-

-

-

Income before income taxes

-

-

-

-

-

-

6,206

13,647

13,565

7,922

5,972

Income tax expense

3,155

3,391

8,180

5,008

4,521

5,459

485

3,058

3,034

1,437

923

Net income

25,736

24,920

18,457

19,583

17,723

17,649

5,721

10,589

10,531

6,485

5,049

Other comprehensive income:
Unrealized gain on investment securities available-for-sale

5,109

-2,014

-1,790

-3,417

-510

4,343

-3,882

1,223

4,873

2,339

3,084

Reclassification adjustment for net gain on sales included in net income

23

-

-

623

1,189

861

163

317

666

-

-

Reclassification adjustment for other-than-temporary impairment

-

-

-

-

-

-

-

-

78

-

-

Change in benefit plan liabilities

-639

591

-318

-917

296

3,684

-3,642

924

1,497

-

-

Net change in derivatives

441

-

-

-

-

-

-

-

-

-

-

Amount of Gain Recognized in OCI Included Component

-

246

-

-

-

-

-

-

-

-

-

Other comprehensive income

6,166

-2,359

-1,472

-

-

-

-

-

-

-

-

Income tax expense

1,295

-496

-515

-

-

-

-

-

-

-

-

Other comprehensive loss

-

-

-

-3,123

-1,995

-202

-403

-18

-

-

-

Income tax benefit

-

-

-

-1,093

-699

-71

-

-

-

-

-

Other comprehensive loss, net of income taxes

-

-

-

-2,030

-1,296

-131

-

-

-

-

-

Income tax expense (benefit) related to other comprehensive loss

-

-

-

-

-

-

5

-6

-948

-

-

Reclassification adjustment for gain on sales included in net income

-

-

-

-

-

-

-

-

-

346

-492

Reclassification adjustment for other-than-temporary impairment

-

-

-

-

-

-

-

-

-

-164

-206

Income tax expense (benefit) related to other comprehensive income (loss)

-

-

-

-

-

-

-

-

-

733

1,285

Other comprehensive income, net of income taxes

4,871

-1,863

-957

-

-

-

-408

-12

1,840

1,424

2,497

Comprehensive income

30,607

23,648

17,500

17,553

16,427

17,518

5,313

10,577

12,371

7,909

7,546

Per share data:
Net income:
Basic

3.48

3.37

2.50

2.65

2.36

2.34

1.21

2.37

2.36

2.07

1.61

Diluted

3.48

3.37

2.50

2.65

2.36

2.34

1.21

2.37

2.36

2.06

1.61

Average common shares outstanding:
Basic

7,395

7,397

7,395

7,396

7,516

7,548

4,733

4,467

4,467

3,139

3,133

Diluted

7,395

7,397

7,395

7,396

7,516

7,561

4,733

4,467

4,467

3,141

3,133

Dividends declared

1.37

1.31

1.26

1.24

1.24

1.24

1.23

1.23

1.23

0.79

0.76

Service charges, fees and commissions
Revenue from contracts with customers

9,026

7,678

7,344

6,116

-

-

-

-

-

-

-

Merchant services income
Revenue from contracts with customers

973

809

2,543

4,199

-

-

-

-

-

-

-

Commission and fees on fiduciary activities
Revenue from contracts with customers

2,087

2,036

2,057

1,976

-

-

-

-

-

-

-

Wealth management income
Revenue from contracts with customers

1,524

1,447

1,411

1,298

-

-

-

-

-

-

-