#USA #Peoples Financial #Scranton #James Bone #John Anderson

Peoples Financial Services Corp. Leadership Transition

Peoples Financial Services Corp. (PFIS), listed on NASDAQ, recently made pivotal changes to its executive team. The Board of Directors has announced the appointment of James M. Bone, Jr. to the role of Chief Financial Officer (CFO) effective March 31, 2025. Bone is currently serving as the Executive Vice President and Chief Operations Officer of both PFIS and its subsidiary, Peoples Security Bank and Trust Company (PSBT). Meanwhile, John R. Anderson, III, who has been the Executive Vice President and Chief Financial Officer, will transition to become the Chief Operating Officer (COO) of PFIS and PSBT.

These changes come as the bank aims to enhance its ability to provide comprehensive financial services while reinforcing its commitment to community engagement. Both Bone and Anderson bring extensive experience in the banking sector, and their new roles will be crucial in steering PFIS towards its goal of strengthening the local economies it serves. Their collective experience is expected to ensure continuity in leadership while fostering growth and innovation at PFIS.

Peoples Financial Services Corp. operates Peoples Security Bank and Trust Company, which is an independent community bank dedicated to serving the needs of its retail and commercial customers. With 39 full-service banking branches across Pennsylvania, New Jersey, and New York, PSBT is committed to offering a wide array of financial products and services tailored to individuals, businesses, not-for-profits, and government entities. The bank's approach emphasizes easy access to senior management and providing essential, community-oriented banking services.

The bank's strategy focuses on integrating advanced methodologies with traditional banking practices to cater to changing consumer demands. With Bone now stepping into the CFO role, PFIS anticipates further refinements in its financial practices and systems, enhancing efficiency and transparency, and aiming for a robust financial standing in the future.

As the financial industry continues to evolve, PFIS is poised to tackle emerging challenges while meeting customer expectations. The leadership transition is seen as vital in shaping the bank's strategic direction and improving operational performance. With Bone's expertise as CFO, the bank is looking forward to not only managing its financial health but also exploring opportunities for expansion and collaboration.

The announcement also noted the recent merger PFIS completed with FNCB Bancorp, Inc. in July 2024, which was intended to enhance its operational capabilities and market coverage. The completion of this merger requires adept leadership to ensure that synergies are realized successfully, and stakeholders feel the positive impact on services and customer experience.

Going forward, PFIS reaffirms its mission of delivering better banking services for the communities it serves. By making these fundamental changes in leadership, the bank looks to build upon its foundation and pursue new strategies that align with the evolving landscape of the financial services industry.

For more information about Peoples Financial Services Corp. and its offerings, you may visit its official website at psbt.com.

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Note: This transition in leadership symbolizes a dedication to transparency, growth, and community service. PFIS remains committed to its long-standing tradition of customer-focused banking, driving community development while advancing its operational effectiveness.