Peoples Financial Services Corp. (NASDAQ: PFIS), the bank holding company for Peoples Security Bank and Trust Company, today announced that it has completed a private placement of $33 million in fixed-to-floating rate subordinated notes due 2030.  The Notes have been structured to qualify as Tier 2 capital under regulatory guidelines, and the proceeds from the sale of the Notes will be utilized for general corporate purposes, which may include contribution to the Company's subsidiary, Peoples Security Bank and Trust Company.

About Peoples:

Peoples Financial Services Corp. is the parent company of Peoples Security Bank and Trust Company, a community bank serving Bucks, Lackawanna, Lebanon, Lehigh, Luzerne, Monroe, Montgomery, Northampton, Schuylkill, Susquehanna, Wayne and Wyoming Counties in Pennsylvania and Broome County in New York through 29 offices. Each office, interdependent with the community, offers a comprehensive array of financial products and services to individuals, businesses, not-for-profit organizations and government entities. Peoples' business philosophy includes offering direct access to senior management and other officers and providing friendly, informed and courteous service, local and timely decision making, flexible and reasonable operating procedures and consistently applied credit policies.