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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 (Date of earliest event reported) July 30, 1998
PEOPLES FINANCIAL SERVICES CORP.
(Exact name of registrant as specified in its charter)
Pennsylvania 0-23863 23-2391852
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Ident. No.)
50 Main Street, Hallstead, Pennsylvania 18822
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (717) 879-2175
N/A
(Former name or former address, if changed since last report.)
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Item 5. Other Events.
The press release, dated July 30, 1998, of Peoples Financial
Services Corp., attached hereto as Exhibit 99.1 is incorporated
herein by reference.
Item 7. Financial Statements and Exhibits.
(a) Exhibits.
The following exhibit is filed herewith:
99.1 Press Release, dated July 30, 1998, of Peoples
Financial Services Corp.
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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 hereunto duly authorized.
PEOPLES FINANCIAL SERVICES CORP.
Dated: August 14, 1998
By/s/ John W. Ord
John W. Ord
President and
Chief Executive Officer
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EXHIBIT 99.1
For Immediate Release:
PEOPLES FINANCIAL SERVICES CORP.
JUNE 30, 1998 EARNINGS, CASH DIVIDEND AND STOCK SPLIT
John W. Ord, President and CEO of Peoples Financial Services
Corp., and its wholly owned subsidiary Peoples National Bank,
announced today that net income for the first half of 1998 was
$1,635,246 up from $1,466,317 for the first six months of 1997,
an increase of 11.5%. Income per share was $1.88 in 1998
compared to $1.67 in 1997, an increase of 12.6%. Market value
per share has increased 75% in the same period from $36 at June
30, 1997 to $63 on June 30, 1998.
A regular dividend of $.29 per share was declared on July 29,
1998 payable on August 15, 1998 to shareholders of record on July
31, 1998. Cash dividends paid through June 30, 1998 are up
37.50% over 1997.
In an additional announcement, the Board of Directors voted a
stock split of 5 for 2, payable on September 15,1998 to
shareholders of record on August 15, 1998.
Peoples National Bank is headquartered in Hallstead with branch
offices in Hallstead, Hop Bottom, Susquehanna and Montrose in
Susquehanna County, and in Nicholson, Tunkhannock and Meshoppen
in Wyoming County.
