Company: PFIS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001558370-25-003995
Chunk: 16

Company: PEOPLES FINANCIAL SERVICES CORP.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 16
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 in trust preferred debentures. The excess of the purchase price consideration over the fair value of net FNCB assets resulted in  $12.6 million of goodwill.

In connection with the completion of the merger, former FNCB shareholders received 0.1460 shares of the Company’s common stock for each share of FNCB common stock. The value of the total transaction consideration was approximately $133.7 million. The consideration included the issuance of 2,935,456 shares of the Company’s common stock, valued at $45.54 per share, which was the closing price of the Company’s common stock on June 28, 2024, the last trading day prior to the consummation of the merger. Also included in the total consideration was cash in lieu of any fractional shares, which was effectively settled upon closing. 

Market Area

Our principal market area consists of 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. In addition, parts of Bradford and Schuylkill Counties in Pennsylvania are also considered part of the market area. We maintain our headquarters in Dunmore, Lackawanna County.