Peoples Financial Services Corp

NASDAQ:PFISUnited States

Apr 30, 2024

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• FNCB Bancorp, Inc. Announces First Quarter 2024 Earnings, from 4:05PM ET on Tuesday Apr 30, 2024 by GlobeNewswire

  4:05PM ET on Tuesday Apr 30, 2024 by GlobeNewswire
  Companies Mentioned: FNCB, PFIS

• FNCB Bancorp, Inc. Announces First Quarter 2024 Earnings, from 4:05PM ET on Tuesday Apr 30, 2024 by Dow Jones

  4:05PM ET on Tuesday Apr 30, 2024 by Dow Jones
  Companies Mentioned: FNCB, PFIS
  Deposits $1,226,918 $1,217,659 $1,156,345 $1,179,288 $1,096,758 Borrowed funds 170,668 174,261 215,801 176,838 223,694 --------- --------- --------- --------- --------- Total interest-bearing liabilities 1,397,586 1,391,920 1,372,146 1,356,126 1,320,452 --------- --------- --------- --------- --------- Demand deposits 279,760 289,982 287,846 284,053 287,975 Other liabilities 19,843 21,853 22,444 22,030 24,487 Shareholders' equity 134,305 118,668 123,308 126,522 122,146 --------- --------- --------- --------- --------- Total liabilities and shareholders' equity $1,831,494 $1,822,423 $1,805,744 $1,788,731 $1,755,060 ========= ========= ========= ========= ========= Yield/Cost Earning assets: Loans and leases: Interest and fees on loans and leases - taxable 6.00% 5.90% 5.82% 5.49% 5.23% Interest and fees on loans and leases - tax-free 4.90% 4.40% 4.19% 4.05% 3.94% --------- --------- --------- --------- --------- Total loans 5.93% 5.83% 5.74% 5.42% 5.16% Securities: Securities, taxable 3.70% 3.26% 3.07% 3.00% 2.98% Securities, tax-free 2.89% 2.89% 2.89% 2.90% 2.98% --------- --------- --------- --------- --------- Total securities 3.55% 3.19% 3.04% 2.98% 2.98% Interest-bearing deposits in other banks 5.18% 5.21% 5.15% 4.89% 4.15% --------- --------- --------- --------- --------- Total earning assets 5.24% 5.04% 4.93% 4.67% 4.45% --------- --------- --------- --------- --------- Interest-bearing liabilities: Interest on deposits 2.46% 2.46% 2.23% 2.08% 1.60% Interest on borrowed funds 4.95% 4.87% 4.94% 4.89% 4.86% --------- --------- --------- --------- --------- Total interest-bearing liabilities 2.76% 2.76% 2.66% 2.45% 2.15% --------- --------- --------- --------- --------- Net interest spread 2.48% 2.28% 2.27% 2.22% 2.30% --------- --------- --------- --------- --------- Net interest margin 3.06% 2.87% 2.85% 2.75% 2.78% ========= ========= ========= ========= ========= FNCB Bancorp, Inc. Asset Quality Data Sept Mar 31, Dec 31, 30, Jun 30, Mar 31, (in thousands) 2024 2023 2023 2023 2023 ---------------------- ------- ------- ------- ------- ------- At period end Non-accrual loans and leases $ 5,980 $ 5,338 $ 5,084 $ 3,711 $ 2,601 Loans past due 90 days or more and still accruing 26 38 59 49 52 ------ ------ ------ ------ ------ Total non-performing loans and leases 6,006 5,376 5,143 3,760 2,653 Other real estate owned (OREO) - - - - - Other non-performing assets 2,019 2,067 1,647 1,647 1,773 ------ ------ ------ ------ ------ Total non-performing assets $ 8,025 $ 7,443 $ 6,790 $ 5,407 $ 4,426 ====== ====== ====== ====== ====== For the three months ended Allowance for credit losses Beginning balance, prior to adoption of ASU 2016-13 $11,986 $12,149 $12,873 $12,279 $14,193 Impact of ASU 2016-13 - - - - (2,636) Loans and leases charged-off 1,355 1,194 818 553 776 Recoveries of charged-off loans and leases 338 655 364 348 523 ------ ------ ------ ------ ------ Net charge-offs 1,017 539 454 205 253 Provision (credit to provision) for credit losses 1,486 376 (270) 799 975 ------ ------ ------ ------ ------ Ending balance $12,455 $11,986 $12,149 $12,873 $12,279 ====== ====== ====== ====== ======