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Stock impact report

PEOPLES FINANCIAL SERVICES CORP. Reports Unaudited Fourth Quarter and Year to Date 2023 Earnings [Yahoo! Finance]

FNCB Bancorp Inc. (FNCB) 
NASDAQ:AMEX Investor Relations: investors.fncb.com
Company Research Source: Yahoo! Finance
Bank and Trust Company, today reported unaudited financial results at and for the three and twelve months ended December 31, 2023 Peoples reported net income of $3.6 million , or per diluted share for the three months ended December 31, 2023 , a 60.3% decrease when compared to $9.1 million , or per diluted share for the comparable period of 2022. Quarterly net income included lower net interest income of $4.1 million due to higher deposit costs, a higher provision for credit losses of $3.8 million and higher operating expenses of $0.6 million mainly due to acquisition related expenses related to the previously announced proposed strategic combination as noted below, partially offset by higher noninterest income of $2.0 million . The year ago period included an after-tax loss of $1.6 million on the sale of available for sale securities. For the twelve months ended December 31, 2023 , net income was $27.4 million , or per diluted share, a 28.1% decrease when compared to $38.1 millio Show less Read more
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