Company: PFIS
Filing Date: 2025-07-18
Form Type: S-4
Source: 0001104659-25-069074
Chunk: 27

Company: PEOPLES FINANCIAL SERVICES CORP.
Filing Date: 2025-07-18
Form: S-4
Chunk 27
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 can pay to us without regulatory approval. Accordingly, we can provide no assurance that we will receive dividends or other distributions from the Bank in an amount sufficient to pay the principal of or interest on the notes. See “Item 1 — Business — Supervision and Regulation” and “Note 22. Regulatory Matters” contained in the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2024 for additional information.

Our indebtedness could adversely affect our financial results and prevent us from fulfilling our obligations under the notes.

In addition to our currently outstanding indebtedness, we may be able to borrow substantial additional indebtedness in the future. If new indebtedness is incurred in addition to our current debt levels, the related risks that we now face could increase. Our indebtedness, including the indebtedness we may incur in the future, could have important consequences for the holders of the notes, including:

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limiting our ability to satisfy our obligations with respect to the notes;

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increasing our vulnerability to general adverse economic conditions;

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limiting our ability to obtain additional financing to fund future working capital, capital expenditures and other general corporate requirements;

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requiring a substantial portion of our cash flows from operations for the payment of principal of and interest on our indebtedness and thereby reducing our ability to use our cash flows to fund working capital, capital expenditures and general corporate requirements;

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limiting our flexibility in planning for, or reacting to, changes in our business and the industry; and

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putting us at a disadvantage compared to competitors with less indebtedness.

The notes are subject to limited rights of acceleration.

Payment of principal of the notes may be accelerated only in the case of certain bankruptcy-related events with respect to us. As a result, holders of the notes have no right to accelerate the payment of principal of the notes if we fail to pay principal of or interest on the notes or if we fail to perform any of our other obligations under the notes or in the indenture. See “Description of the Notes — Events of Default; Right of Acceleration; Failure to Pay Principal or Interest.”

The amount of interest payable on the notes will vary beginning on June 15, 2030, and interest after that date may be less than the initial fixed annual interest rate of 7.75% in effect prior to that date.

The interest rate on the notes will vary beginning on June 15, 2030 at a floating rate equal to the Floating Interest Rate (as defined below in