DUNMORE,
Pa., Jan. 10, 2025 /PRNewswire/ -- Peoples
Financial Services Corp. (the "Company") is pleased to announce
that Gerard A. Champi has officially
assumed the role of Chief Executive Officer (CEO), and Thomas P. Tulaney has taken on the position of
President for both the Company and its subsidiary, Peoples Security
Bank and Trust Company. The executives began their new roles
effective January 1, 2025 in
accordance with the Company's previously announced succession
plans.
These leadership transitions mark a significant milestone for
the Company following its successful merger with FNCB Bancorp,
Inc., completed in 2024. Mr. Champi and Mr. Tulaney, both seasoned
banking professionals, bring a wealth of experience and a shared
commitment to advancing the Company's mission of delivering
exceptional service and fostering growth in the communities it
serves.
As CEO, Mr. Champi will oversee the strategic direction of the
Company, ensuring continued innovation and financial performance.
With over three decades of experience, including serving eight
years as President and CEO of FNCB Bank, Mr. Champi is committed to
fostering a culture of excellence and community engagement.
In his role as President, Mr. Tulaney will lead day-to-day
operations and drive business development efforts. His extensive
background, including his time as Chief Operating Officer,
positions him to support the Company's ongoing growth while
maintaining its commitment to personalized service.
Peoples Security Bank and Trust Company operates 39 full-service
community banking offices across Pennsylvania, New
Jersey, and New York. The
Bank offers a comprehensive suite of financial products and
services tailored to individuals, businesses, not-for-profit
organizations, and government entities.
About Peoples Financial Services Corp.:
Peoples Financial Services Corp. is the bank holding company of
Peoples Security Bank and Trust Company, an independent community
bank serving its retail and commercial customers through 39
full-service community banking offices located within the
Allegheny, Bucks, Lackawanna, Lebanon, Lehigh, Luzerne, Monroe, Montgomery, Northampton, Susquehanna, Wayne, and Wyoming Counties in Pennsylvania, Middlesex County in New Jersey and Broome County in New York. Each office, interdependent with the
community, offers a comprehensive array of financial products and
services to individuals, businesses, not-for-profit organizations
and government entities. People's business philosophy includes
offering direct access to senior management and other officers and
providing friendly, informed and courteous service, local and
timely. For more information, visit psbt.com.
Forward-looking Statements
This communication includes "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended,
with respect to the beliefs, goals, intentions, and expectations of
Peoples Financial Services Corp. and its subsidiaries ("Peoples")
and other statements that are not historical facts. Forward–looking
statements are typically identified by such words as "believe,"
"expect," "anticipate," "intend," "outlook," "estimate,"
"forecast," "project," "will," "should," and other similar words
and expressions, and are subject to numerous assumptions, risks,
and uncertainties, which change over time.
Additionally, forward–looking statements speak only as of the
date they are made; Peoples does not assume any duty, and does not
undertake, to update such forward–looking statements, whether
written or oral, that may be made from time to time, whether as a
result of new information, future events, or otherwise.
Furthermore, because forward–looking statements are subject to
assumptions and uncertainties, actual results or future events
could differ, possibly materially, from those indicated in or
implied by such forward-looking statements as a result of a variety
of factors, many of which are beyond the control of Peoples. Such
statements are based upon the current beliefs and expectations of
the management of Peoples and are subject to significant risks and
uncertainties outside of the control of Peoples. Caution should be
exercised against placing undue reliance on forward-looking
statements. The factors that could cause actual results to differ
materially include the following: the possibility that the
anticipated benefits of Peoples' merger with FNCB Bancorp, Inc.
("FNCB"), which was consummated on July 1,
2024, will not be realized when expected or at all,
including as a result of the impact of, or problems arising from,
the integration of FNCB; the strength of the economy and
competitive factors in the areas where Peoples conducts business;
diversion of management's attention from ongoing business
operations and opportunities; the possibility that Peoples may be
unable to achieve expected synergies and operating efficiencies in
the FNCB merger within the expected timeframes or at all and to
successfully integrate the operations of Peoples; such integration
may be more difficult, time-consuming or costly than expected;
revenues following the FNCB merger may be lower than expected;
Peoples' success in executing its business plans and strategies and
managing the risks involved in the foregoing; the dilution caused
by Peoples' issuance of additional shares of its capital stock in
connection with the FNCB merger; the outcome of any legal
proceedings that may be threatened or instituted against Peoples;
the ability of Peoples to meet expectations regarding the
accounting and tax treatments of the FNCB merger; effects of the
completion of the FNCB merger on the ability of Peoples to retain
customers and retain and hire key personnel and maintain
relationships with its suppliers, and on its operating results and
businesses generally; changes in interest rates; and risks related
to the potential impact of general economic, political and market
factors on Peoples; legislative and regulatory changes and the
ability to comply with the significant laws and regulations
governing the banking and financial services business; monetary and
fiscal policies of the U.S. government, including policies of the
U.S. Department of Treasury and the Federal Reserve System; adverse
developments in the financial industry generally, responsive
measures to mitigate and manage such developments, related
supervisory and regulatory actions and costs, and related impacts
on customer and client behavior; credit risk associated with
lending activities and changes in the quality and composition of
Peoples' loan and investment portfolios; demand for loan and other
products; deposit flows; competition; changes in the values of real
estate and other collateral securing the loan portfolio,
particularly in Peoples' market area; changes in relevant
accounting principles and guidelines; inability of third party
service providers to perform; Peoples' ability to prevent, detect
and respond to cyberattacks; and the other factors discussed in
Peoples' Annual Reports on Form 10–K and Quarterly Reports on Form
10-Q as filed with the SEC from time to time.
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SOURCE Peoples Financial Services Corp.
