Peoples Financial Services Corp. (Ticker: PFIS), parent of Peoples Security Bank and Trust Co., recently announced that its board has authorized a plan to buy back up to 370,000 shares of its common stock outstanding.
The timing, price, and volume of repurchases will be based on market conditions, securities laws, and other factors, Peoples said in a news release. The stock buybacks may be made through a mix of open-market purchases and privately negotiated transactions, it added.
After its recent merger with Penseco Financial Services Corp., Peoples currently has about 7.55 million shares of common stock outstanding.
Peoples Security Bank and Trust is an independent community bank serving Lackawanna, Luzerne, Monroe, Susquehanna, Wayne, and Wyoming Counties in Pennsylvania and Broome County in New York through 26 offices. That includes four Binghamton–area branches.
Contact Rombel at arombel@cnybj.com