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                                  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: May 20, 2009
                        (Date of earliest event reported)

                     PENSECO FINANCIAL SERVICES CORPORATION
             (Exact name of registrant as specified in its charter)

                                    000-23777
                            (Commission File Number)

            PA                                           23-2939222
(State or other jurisdiction               (IRS Employer of Identification No.)
      of incorporation)


      150 NORTH WASHINGTON AVENUE, SCRANTON, PENNSYLVANIA      18503-1848
            (Address of principal executive offices)           (Zip Code)

                                (570) 346 - 7741
              (Registrant's telephone number, including area code)


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):


[ ] Written communications pursuant to Rule 425 under the Securities Act
    (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
    (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
    Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
    Exchange Act (17 CFR 240.13e-4(c))

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ITEM 8.01 OTHER EVENTS.


On May 19, 2009, the Board of Directors of Penseco Financial Services
Corporation, the parent holding company of Penn Security Bank & Trust Company,
declared a quarterly cash dividend payment of $0.42 per share, an increase of
2.4% over dividends paid in the second quarter of 2008. The dividend will be
paid on June 15, 2009 to shareholders of record as of the close of business on
May 29, 2009.



                                    SIGNATURE

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 hereunto duly authorized.



                                       By:  /s/ Craig W. Best
                                            ----------------------------------
                                            Craig W. Best
                                            President and CEO

Date:    May 20, 2009