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 - February 1, 2005
Commission File Number: 0-23863
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PEOPLES FINANCIAL SERVICES CORP. | ||
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(Exact name of registrant as specified in its charter) | ||
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PENNSYLVANIA |
23-2931852 | |
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(State of incorporation) |
(IRS Employer Identification No.) | |
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50 MAIN STREET, HALLSTEAD, PA |
18822 | |
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(Address of principal executive offices) |
(Zip code) | |
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(570) 879-2175 | ||
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(Registrant’s telephone number including area code) | ||
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Item 2.06 |
Material Impairments |
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Peoples Financial Services Corp. and its subsidiary, Peoples National Bank holds $5 million in FNMA and FHLMC Preferred Equity securities and it intends to record an after tax, Other-than-temporary Impairment of $755,000 in the fourth quarter ended December 31, 2004. Peoples National Bank has decided to transfer the unrealized loss on these Preferred Equity securities to an Other-than-temporary impairment loss on the Company’s Income Statement in the fourth quarter of 2004 in accordance with generally accepted accounting principles (GAAP).
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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.
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PEOPLES FINANCIAL SERVICES, CORP.
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/s/ |
Debra E. Dissinger |
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Dated: February 1, 2005 |
By: Debra E. Dissinger |
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Executive Vice President
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/s/ |
Frederick J. Malloy |
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Dated: February 1, 2005 |
By: Frederick J. Malloy |
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Asst. Vice President/Controller
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/s/ |
John W. Ord |
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Dated: February 1, 2005 |
By: John W. Ord |
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President & CEO
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/s/ |
Joseph Ferretti |
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Dated: February 1, 2005 |
By: Joseph Ferretti |
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Vice President/Chief Credit Officer
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