SCRANTON, Pa., Feb. 1, 2021 /PRNewswire/ — Peoples Monetary Providers Corp. (“Peoples”) (NASDAQ: PFIS), the financial institution holding firm for Peoples Safety Financial institution and Belief Firm, introduced at the moment that its board of administrators has licensed a inventory repurchase plan offering for the acquisition of as much as 4.9 % its excellent shares widespread inventory, or 353,422 shares. The timing, worth and quantity of repurchases might be primarily based on market situations, related securities legal guidelines and different components. The inventory repurchases could also be made occasionally on the open market or in privately negotiated transactions. The inventory repurchase program doesn’t require Peoples to repurchase any particular variety of shares, and Peoples could terminate the repurchase program at any time. As of the date of this launch, Peoples has roughly 7,212,702 shares of widespread inventory excellent.
Peoples Monetary Providers Corp. is the dad or mum firm of Peoples Safety Financial institution and Belief Firm, a neighborhood financial institution serving Bucks, Lackawanna, Lebanon, Lehigh, Luzerne, Monroe, Montgomery, Northampton, Schuylkill, Susquehanna, and Wyoming Counties in Pennsylvania and Broome County in New York via 26 workplaces. Every workplace, interdependent with the neighborhood, affords a complete array of economic services and products to people, companies, not-for-profit organizations and authorities entities. Peoples’ enterprise philosophy consists of providing direct entry to senior administration and different officers and offering pleasant, knowledgeable and courteous service, native and well timed determination making, versatile and cheap working procedures and constantly utilized credit score insurance policies.
Secure Harbor Ahead-Trying Statements:
We make statements on this press launch, and we could occasionally make different statements relating to our outlook or expectations for future monetary or working outcomes and/or different issues relating to or affecting Peoples Monetary Providers Corp. and Peoples Safety Financial institution and Belief Firm (collectively, “Peoples”) which are thought of “forward-looking statements” as outlined in Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Trade Act of 1934, as amended. Such forward-looking statements could also be recognized by way of such phrases as “imagine,” “anticipate,” “anticipate,” “ought to,” “deliberate,” “estimated,” “intend” and “potential.” For these statements, Peoples claims the safety of the statutory protected harbors for forward-looking statements.
Peoples cautions you that quite a few vital components may trigger precise outcomes to vary materially from these presently anticipated in any forward-looking assertion. Such components embrace, however aren’t restricted to: prevailing financial and political situations, significantly in our market space; the unfolding COVID-19 disaster and the governmental responses to the disaster; credit score threat related to our lending actions; modifications in rates of interest, mortgage demand, actual property values and competitors; modifications in accounting rules, insurance policies, and tips; modifications in any relevant regulation, rule, regulation or observe with respect to tax or authorized points; our skill to establish and handle cyber-security dangers and different financial, aggressive, governmental, regulatory and technological components affecting Peoples’ operations, pricing, services and products and different components which may be described in Peoples’ Annual Reviews on Type 10-Okay and Quarterly Reviews on Type 10-Q as filed with the Securities and Trade Fee occasionally.
Along with these dangers, acquisitions and enterprise combos, current dangers apart from these introduced by the character of the enterprise acquired. Acquisitions and enterprise combos could also be considerably costlier to finish than initially anticipated, and the anticipated advantages could also be considerably harder-or take longer-to obtain than anticipated. As regulated monetary establishments, our pursuit of enticing acquisition and enterprise mixture alternatives may very well be negatively impacted by regulatory delays or different regulatory points. Regulatory and/or authorized points associated to the pre-acquisition operations of an acquired or mixed enterprise could trigger reputational hurt to Peoples following the acquisition or mixture, and integration of the acquired or mixed enterprise with ours could end in further future prices arising because of these points.
The forward-looking statements are made as of the date of this launch, and, besides as could also be required by relevant regulation or regulation, Peoples assumes no obligation to replace the forward-looking statements or to replace the the explanation why precise outcomes may differ from these projected within the forward-looking statements.
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SOURCE Peoples Monetary Providers Corp.