PEOPLES FINANCIAL SERVICES CORP. PFIS Income Statement

Peoples financial services corp. (PFIS)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest income:
Interest and fees on loans:
Taxable
83,302	82,488	81,490	79,348	76,946	74,352	71,471	69,208	66,914	64,946	63,523	62,282	61,097	59,902	58,332	56,379	55,010	54,004	53,948	53,766	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Taxable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	37,725	31,102	35,776	34,261	32,714	30,852	33,239	33,046	32,777	32,398	20,841	20,288	0	0	0
Tax-exempt
4,241	4,309	4,280	4,133	3,895	3,666	3,489	3,383	3,307	3,163	3,064	3,021	3,006	3,031	2,938	2,753	2,543	2,351	2,372	2,252	2,189	2,265	2,071	2,002	1,899	1,674	1,769	1,689	1,678	1,687	1,281	1,296	1,249	1,187	1,313	1,256	0	0	0
Interest and dividends on investment securities:
Taxable
4,973	4,435	4,136	4,042	3,951	3,799	3,609	3,325	3,110	2,949	2,766	2,627	2,525	2,515	2,578	2,795	2,994	3,207	3,577	3,792	3,918	3,946	3,431	2,810	2,282	1,793	1,724	1,896	2,085	2,282	2,583	2,664	2,694	2,724	2,669	2,775	0	0	0
Tax-exempt
1,615	1,878	2,113	2,341	2,482	2,621	2,738	2,815	2,906	2,999	3,089	3,234	3,357	3,438	3,498	3,495	3,455	3,385	3,307	3,265	3,247	3,271	3,160	3,002	2,831	2,625	3,575	3,242	2,924	2,660	3,002	3,074	3,157	3,273	1,808	1,899	0	0	0
Dividends
88	84	81	78	75	72	66	63	56	52	54	51	50	48	42	41	36	35	42	35	43	50	63	83	85	88	99	83	75	63	59	62	62	64	35	39	0	0	0
Interest on interest-bearing deposits in other banks
81	65	70	92	119	151	157	148	144	133	110	85	62	50	60	58	58	49	45	42	36	38	47	55	74	86	108	92	65	47	58	59	61	59	9	7	0	0	0
Interest on federal funds sold
-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10	15	34	63	70	0	0	0	-	-	-	-	-	0	-	-	2	34	29	0	0	0
Total interest income
94,422	93,381	92,247	90,034	87,468	84,661	81,530	78,942	76,437	74,242	72,606	71,300	70,097	68,984	67,446	65,519	64,099	63,041	62,714	63,308	63,152	63,956	59,156	51,657	44,912	37,370	43,040	41,263	39,541	37,591	40,209	40,190	40,000	39,707	26,709	26,293	0	0	0
Interest expense:
Interest on deposits
15,087	14,995	14,301	12,677	10,923	9,346	7,968	7,280	6,850	6,450	6,085	5,787	5,580	5,429	5,225	5,098	4,968	4,953	4,995	5,120	5,342	5,431	5,033	4,326	3,562	2,876	2,158	2,626	3,047	3,424	4,848	4,901	4,962	4,958	4,509	4,562	0	0	0
Interest on short-term borrowings
1,402	1,642	1,912	2,638	2,884	2,738	2,618	1,986	1,393	900	719	658	499	402	312	207	122	53	27	25	45	71	84	81	63	34	-85	-62	-19	38	-15	32	59	83	353	378	0	0	0
Interest on long-term debt
1,156	1,231	1,225	1,193	1,212	1,238	1,243	1,272	1,306	1,348	1,394	1,403	1,408	1,420	1,342	1,234	1,132	1,031	1,032	1,066	1,103	1,140	1,162	1,182	1,198	1,259	2,355	2,219	2,084	1,900	2,076	2,121	2,214	2,298	1,083	1,268	0	0	0
Total interest expense
17,645	17,868	17,438	16,508	15,019	13,322	11,829	10,538	9,549	8,698	8,198	7,848	7,487	7,251	6,879	6,539	6,222	6,037	6,054	6,211	6,490	6,642	6,279	5,589	4,823	4,169	4,253	4,591	0	-	0	0	-	-	-	0	-	-	-
Total interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	-	0	0	0
Net interest income
76,777	75,513	74,809	73,526	72,449	71,339	69,701	68,404	66,888	65,544	64,408	63,452	62,610	61,733	60,567	58,980	57,877	57,004	56,660	57,097	56,662	57,314	52,877	46,068	40,089	33,201	38,612	36,480	34,429	32,229	33,300	33,136	32,765	32,368	20,764	20,085	0	0	0
Provision for loan losses
8,550	6,100	3,150	3,500	4,200	4,200	4,350	4,500	4,650	4,800	5,000	5,000	5,000	5,000	4,900	4,600	4,150	3,700	3,200	2,966	3,417	3,524	3,760	3,619	2,918	2,361	884	689	579	924	2,252	2,191	2,605	2,381	1,939	2,352	0	0	0
Net interest income after provision for loan losses
68,227	69,413	71,659	70,026	68,249	67,139	65,351	63,904	62,238	60,744	59,408	58,452	57,610	56,733	55,667	54,380	53,727	53,304	53,460	54,131	53,245	53,790	49,117	42,449	37,171	30,840	37,728	35,791	33,850	31,305	31,048	30,945	30,160	29,987	18,825	17,733	0	0	0
Noninterest income:
Service charges, fees and commissions
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Merchant services income
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Commission and fees on fiduciary activities
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Wealth management income
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Service charges, fees and commissions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,073	6,062	6,077	6,245	6,354	6,457	6,472	6,484	5,481	4,853	4,755	4,092	4,762	4,560	3,898	3,680	4,658	4,590	4,504	4,470	2,938	3,219	0	0	0
Merchant services income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,128	4,054	3,979	3,855	3,701	3,520	3,445	3,549	3,597	3,769	3,799	3,936	0	0	0	-	-	-	-	-	-	-	-	-	-
Commission and fees on fiduciary activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,954	1,956	1,969	1,946	1,976	2,010	2,071	2,179	2,144	2,056	1,911	1,735	0	0	0	-	-	-	-	-	-	-	-	-	-
Wealth management income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,197	1,150	1,052	845	810	803	770	752	754	667	602	505	0	0	0	-	-	-	-	-	-	-	-	-	-
Wealth management income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	598	555	0	0	0
Mortgage banking income
589	600	612	603	628	627	680	710	752	784	845	869	860	885	821	801	854	872	881	826	771	648	551	489	329	363	498	695	964	905	1,060	815	611	585	346	377	0	0	0
Bank owned life insurance income
756	755	756	757	756	757	760	763	767	769	774	780	787	791	792	785	771	767	782	699	778	778	1,177	1,185	1,038	968	0	0	0	-	-	-	-	-	-	-	-	-	-
Interest rate swap revenue
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (losses) gains on equity investment securities
8	132	6	6	23	14	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gains on sale of investment securities available-for-sale
0	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain on sale of credit card loans
-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain on sale of investment securities available-for-sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	833	980	599	1,189	1,680	1,693	0	-	0	0	-	163	0	0	0	-	-	-	-	-	-	-	-	-	-
Net gain on sale of merchant services business
-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain on sale of investment securities available-for-sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,012	1,037	940	666	59	213	0	0	0
Other-than-temporary impairment of investment equity securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	-
Net gain (loss) on sale of other real estate owned
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	-	0	0
Total noninterest income
15,254	15,120	14,421	13,992	13,503	13,659	13,852	14,260	16,976	17,186	17,681	18,045	15,779	15,888	15,798	15,788	15,301	15,719	15,483	15,848	16,000	15,251	14,570	13,217	12,496	11,762	16,517	14,751	13,031	11,441	11,979	11,740	13,033	12,619	5,389	5,678	0	0	0
Noninterest expense:
Salaries and employee benefits expense
31,635	31,374	30,804	29,694	29,047	28,407	28,110	27,714	27,350	26,670	25,583	24,499	23,377	22,434	21,992	21,923	21,632	21,533	22,012	21,369	20,717	20,652	20,451	19,037	17,568	15,983	19,265	17,717	15,974	14,121	14,500	14,356	14,235	13,951	6,212	5,959	0	0	0
Net occupancy and equipment expense
12,029	11,911	11,489	11,173	11,044	10,897	10,863	10,665	10,395	9,975	9,751	9,584	9,379	9,422	9,239	9,169	9,073	9,104	8,885	8,659	8,837	8,102	7,881	6,546	4,920	3,988	2,843	2,905	2,957	2,946	3,738	3,729	3,675	3,561	2,754	2,630	0	0	0
Merchant services expense
-	-	-	-	-	-	-	-	-	-	2,519	3,376	3,091	2,993	2,907	2,840	2,742	2,643	2,520	2,359	2,204	2,236	2,265	2,343	2,430	2,490	0	0	0	-	-	-	-	-	-	-	-	-	-
Amortization of intangible assets
692	730	768	805	843	881	919	958	996	1,034	1,072	1,110	1,149	1,186	1,198	1,197	1,195	1,195	1,220	1,258	1,296	1,334	1,161	882	605	326	0	0	0	-	-	-	-	-	-	-	-	-	-
Professional fees and outside services
1,792	1,758	2,257	2,201	2,122	2,414	2,020	2,061	2,371	2,277	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FDIC insurance and assessments
466	651	878	1,057	1,066	1,093	1,049	1,043	985	826	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Donations
1,447	1,441	1,405	1,374	1,358	1,339	1,321	1,289	1,229	1,188	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition related expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,725	1,945	1,841	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Other expenses
7,742	7,777	7,770	7,525	7,416	7,456	9,083	9,545	9,422	9,323	4,718	5,647	6,609	7,760	9,929	9,825	9,710	9,353	10,997	11,258	11,569	11,884	11,793	10,913	9,818	9,000	11,931	10,905	10,281	9,023	7,161	7,233	7,580	8,059	5,759	5,889	0	0	0
Total noninterest expense
55,803	55,642	55,371	53,829	52,896	52,487	51,569	51,512	52,018	51,293	51,120	50,657	48,768	48,030	48,216	47,905	47,303	46,779	45,634	45,012	45,740	45,933	49,660	45,941	40,558	36,396	39,395	35,868	32,910	29,099	28,869	28,788	28,960	29,041	14,725	14,478	0	0	0
Income before income taxes
27,678	28,891	30,709	30,189	28,856	28,311	27,634	26,652	27,196	26,637	25,969	25,840	24,621	24,591	23,249	22,263	21,725	22,244	23,309	24,967	23,505	23,108	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income before income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,206	14,850	14,674	13,971	13,647	14,158	13,897	14,233	13,565	9,489	8,933	0	0	0
Income tax expense
3,073	3,155	3,613	3,524	3,378	3,391	6,458	6,843	7,685	8,180	5,432	5,535	5,120	5,008	4,555	4,278	4,164	4,521	5,041	5,872	5,510	5,459	2,892	1,340	1,211	485	3,354	3,424	3,281	3,058	2,700	2,820	3,081	3,034	2,072	1,851	0	0	0
Net income
24,605	25,736	27,096	26,665	25,478	24,920	21,176	19,809	19,511	18,457	20,537	20,305	19,501	19,583	18,694	17,985	17,561	17,723	18,268	19,095	17,995	17,649	11,135	8,385	7,898	5,721	11,496	11,250	10,690	10,589	11,458	11,077	11,152	10,531	7,417	7,082	0	0	0
Other comprehensive income:
Unrealized gain on investment securities available-for-sale
10,299	5,109	7,591	6,251	2,801	-2,014	-7,260	-6,462	-4,439	-1,790	-3,344	-4,083	-4,139	-3,417	359	2,305	-282	-510	1,666	15	2,716	4,343	2,169	2,974	-1,012	-3,882	-4,106	-3,765	770	1,223	-229	2,358	3,750	4,873	11,716	11,226	0	0	0
Reclassification adjustment for net gain on sales included in net income
0	-	-	0	-	-	-	-	-	-	-	-	-	623	833	980	599	1,189	1,680	1,693	0	-	0	0	-	163	0	0	0	-	-	-	-	-	-	-	-	-	-
Change in derivative fair value
0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other comprehensive income
12,062	6,166	7,882	6,389	2,519	-2,359	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax expense
2,534	1,295	1,658	1,344	531	-496	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other comprehensive loss
-	-	-	-	-	-	-	-	-	-	-2,427	-3,166	-3,603	-3,123	-770	1,029	-1,177	-1,995	-2,997	-5,202	-2,661	-202	1,897	655	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Income tax benefit
-	-	-	-	-	-	-	-	-	-	-848	-1,107	-1,261	-1,093	-270	359	-412	-699	-830	-689	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other comprehensive loss, net of income taxes
-	-	-	-	-	-	-	-	-	-	-1,579	-2,059	-2,342	-2,030	-500	670	-765	-1,296	-1,541	-1,279	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reclassification adjustment for gain on sales included in net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-
Income tax expense (benefit) related to other comprehensive loss
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,039	5	-1,264	-1,821	0	-	0	0	-	-	-	0	-	-	-
Reclassification adjustment for gain on sales included in net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	-	0	0	0
Reclassification adjustment for other-than-temporary impairment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	-
Income tax expense (benefit) related to other comprehensive income (loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	-	0	0	0
Other comprehensive income, net of income taxes
9,528	4,871	6,224	5,045	1,988	-1,863	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,529	-408	-3,381	-3,134	-190	-12	-1,813	-120	862	1,840	7,843	7,416	0	0	0
Comprehensive income
34,133	30,607	33,911	32,301	28,057	23,648	16,052	15,368	16,502	17,500	18,958	18,246	17,159	17,553	18,194	18,655	16,796	16,427	16,320	15,713	16,266	17,518	14,238	12,445	9,427	5,313	8,115	8,116	10,500	10,577	9,645	10,957	12,014	12,371	15,260	14,498	0	0	0
Per share data:
Net income:
Basic
0.72	0.68	0.97	0.96	0.87	0.86	0.91	0.81	0.79	0.37	0.72	0.76	0.65	0.64	0.69	0.66	0.66	0.52	0.58	0.59	0.67	0.58	0.70	0.44	0.62	-0.55	0.56	0.64	0.56	0.14	0.72	0.73	0.78	0.44	0.60	0.75	0.57	0.45	0.49
Diluted
0.71	0.68	0.97	0.96	0.87	0.86	0.91	0.81	0.79	0.37	0.72	0.76	0.65	0.64	0.69	0.66	0.66	0.52	0.58	0.59	0.67	0.58	0.70	0.44	0.62	-0.55	0.56	0.64	0.56	0.14	0.72	0.73	0.78	0.44	0.60	0.75	0.57	0.45	0.49
Average common shares outstanding:
Basic
7,379	7,388	7,394	7,399	7,399	7,399	7,399	7,396	7,396	7,396	7,396	7,396	7,394	7,394	7,394	7,395	7,403	7,434	7,536	7,546	7,548	7,548	7,548	7,548	7,550	5,523	4,473	4,467	4,467	8,514	3,118	3,118	3,118	-	-	3,146	3,142	-	-
Diluted
7,406	7,378	7,394	7,399	7,408	7,399	7,399	7,396	7,396	7,396	7,396	7,396	7,394	7,394	7,394	7,395	7,403	7,434	7,536	7,546	7,548	7,548	7,548	7,570	7,580	5,523	4,473	4,467	4,467	8,514	3,118	3,118	3,119	-	-	3,147	3,144	-	-
Dividends declared
0.36	0.35	0.34	0.34	0.34	0.33	0.33	0.33	0.32	0.32	0.32	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.30	0.31	0.31	0.31	0.59	0.22	0.21	0.21	0.63	0.20	0.20	0.20	0.20	0.20
Service charges, fees and commissions
Revenue from contracts with customers
8,912	9,026	8,192	7,914	7,309	7,678	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Merchant services income
Revenue from contracts with customers
889	973	959	905	757	809	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Commission and fees on fiduciary activities
Revenue from contracts with customers
2,086	2,087	2,052	2,053	2,046	2,036	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Wealth management income
Revenue from contracts with customers
1,534	1,524	1,541	1,451	1,413	1,447	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-