Peoples Financial Services Q3 net income rises on higher loan volume, yields
PFIS•Peoples Financial Services said third-quarter net income and earnings per share rose year over year, with net income of $19.13 million and EPS of $1.90. Higher net interest income, loan volume and yields contributed to growth.
1. Quarterly results
Peoples Financial Services reported third-quarter net income of $19.13 million and EPS of $1.90. Net interest income was $47.30 million, and adjusted net interest margin was 3.80%. The company said higher net interest and non-interest income drove profit growth, partly offset by higher expenses; improved asset quality reduced nonperforming assets year over year.
