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: 03/01/07
                        (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 incorporation)                                            Identification No.)


         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))





Item 2.02 Results of Operations and Financial Condition.


On March 01, 2007, Penseco Financial Services Corporation ("the Company") issued
a press release  announcing the Company's  financial results for the quarter and
year ended  December 31, 2006.  The press  release is furnished as exhibit 99 to
this current report and is incorporated by reference in this Item 2.02.


Item 9.01 Financial Statements and Exhibits

     (d.) Exhibits


          99 Press  Release, dated  March  01, 2007,  announcing  the  Company's
             financial results for the quarter and year ended December 31, 2006.






                                    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: March 01, 2007