UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report - September 28, 2005
Commission File Number: 0-23863
PEOPLES FINANCIAL SERVICES CORP. |
(Exact name of registrant as specified in its charter) |
| | | |
PENNSYLVANIA | | 23-2391852 |
(State of incorporation) | | (IRS Employer Identification No.) |
| | | |
50 MAIN STREET, HALLSTEAD, PA | | 18822 |
(Address of principal executive offices) | | (Zip code) |
| | | |
(570) 879-2175 |
(Registrant’s telephone number including area code) |
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| Item 8.01. | Other Events |
| | Peoples Financial Services Corp. announces that its wholly owned subsidiary, Peoples National Bank, has completed a transaction as of September 26, 2005, involving the early retirement of debt at the Federal Home Loan Bank (FHLB) of Pittsburgh. Two separate $5 million FHLB advances at corresponding interest rates of 6.37% and 6.10% were paid in full. The FHLB advances were originally scheduled to mature on May 3, 2010 and September 22, 2010, respectively. The early retirement of the FHLB advances was funded with overnight borrowings at a lower rate that is expected to reduce future interest expense. The premature retirement of the debt included a before-tax prepayment penalty of $808,519 that will be taken as a charge against income in the current period. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| | | PEOPLES FINANCIAL SERVICES, CORP. | |
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| | /s/ | Debra E. Dissinger | |
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| Dated: September 28, 2005 | | By: Debra E. Dissinger | |
| | | Executive Vice President | |
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| | /s/ | Frederick J. Malloy | |
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| Dated: September 28, 2005 | | By: Frederick J. Malloy | |
| | | Asst. Vice President/Controller | |
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| | /s/ | John W. Ord | |
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| Dated: September 28, 2005 | | By: John W. Ord | |
| | | President/ CEO/Chairman | |
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| | /s/ | Joseph M. Ferretti | |
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| Dated: September 28, 2005 | | By: Joseph M. Ferretti | |
| | | Vice President/Chief Credit Officer | |
