UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report:
(Date of earliest event reported)
(Exact name of registrant as specified in its Charter)
| (State or other jurisdiction | (Commission file number) | (IRS Employer | ||
| of incorporation) | Identification No.) |
(Address of Principal Executive Offices) (Zip Code)
(
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| Item 1.01 | Entry into a Material Definitive Agreement. |
On June 23, 2025, Peoples Security Bank and Trust Company (the “Bank”), the bank subsidiary of Peoples Financial Services Corp. (the “Company”), entered into a Purchase and Sale Agreement (the “Agreement”) to purchase the real property commonly known as 30 E.D. Preate Drive, Moosic, Pennsylvania (the “Property”) from Moosic Holdings, LLC. The purchase price for the Property is $19.5 million, subject to customary adjustments, prorations and credits as outlined in the Agreement. In addition to the purchase price, the Bank agreed to pay the seller $3 million for certain repairs and improvements to the Property and up to $500,000 for certain office fit out costs. The closing is to occur no later than June 30, 2026.
The Bank currently leases a portion of the Property. At the closing, any and all leases at the Property will be assigned to and assumed by the Bank. All closing costs related to the transaction will be allocated in accordance with customary, local standards.
The foregoing description of the Agreement is not complete and is qualified in its entirety by reference to the complete text of the Agreement, which is attached as Exhibits 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
The following exhibits are filed with this form 8-K:
| Exhibit No. | Description | |
| 10.1 | Purchase and Sale Agreement by and between Moosic Holdings, LLC and Peoples Security Bank and Trust Company | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
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. | ||
| By: | /s/ Gerard A. Champi | |
| Gerard A. Champi | ||
| Chief Executive Officer | ||
| (Principal Executive Officer) | ||
Dated: June 27, 2025