<SEC-DOCUMENT>0001104659-24-076975.txt : 20240702
<SEC-HEADER>0001104659-24-076975.hdr.sgml : 20240702
<ACCEPTANCE-DATETIME>20240701185040
ACCESSION NUMBER:		0001104659-24-076975
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20240702
DATE AS OF CHANGE:		20240701
EFFECTIVENESS DATE:		20240702

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PEOPLES FINANCIAL SERVICES CORP.
		CENTRAL INDEX KEY:			0001056943
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				232391852
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-280652
		FILM NUMBER:		241092333

	BUSINESS ADDRESS:	
		STREET 1:		150 N WASHINGTON AVE
		CITY:			SCRANTON
		STATE:			PA
		ZIP:			18503
		BUSINESS PHONE:		570-346-7741

	MAIL ADDRESS:	
		STREET 1:		150 N WASHINGTON AVE
		CITY:			SCRANTON
		STATE:			PA
		ZIP:			18503

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PEOPLES FINANCIAL SERVICES CORP/
		DATE OF NAME CHANGE:	19980303
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>tm2418346d1_s8.htm
<DESCRIPTION>FORM S-8
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">As filed with the Securities and Exchange Commission
on July 1, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt none; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Registration No.
333-&#8239;&#8239;&#8239;&#8239;&#8239;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM S-8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>Peoples
                    Financial Services Corp.</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: center">(Exact name of registrant as specified in its charter)<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><B>Pennsylvania</B></TD>
    <TD STYLE="text-align: center"><B>23-2391852</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or other jurisdiction of</TD>
    <TD STYLE="text-align: center">(I.R.S. Employer</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">incorporation or organization)</TD>
    <TD STYLE="text-align: center">Identification No.)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><B>150 North Washington Avenue, Scranton, PA</B></TD>
    <TD STYLE="text-align: center"><B>18503</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(Address of Principal Executive Offices)</TD>
    <TD STYLE="text-align: center">(Zip Code)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FNCB Bancorp, Inc. 2023 Equity Incentive Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Full title of the plan)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Craig W. Best</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Chief Executive Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Peoples Financial Services Corp.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>150 North Washington Avenue</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Scranton, PA 18503</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name and address of agent for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(570) 346-7741</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Telephone number, including area code, of agent
for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>With a copy to:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Donald R. Readlinger</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">Troutman Pepper Hamilton Sanders LLP</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">301 Carnegie Center, Suite&nbsp;400</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">Princeton, NJ 08540</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">Telephone: (609) 452-0808</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the Registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions
of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company,&rdquo; and &ldquo;emerging
growth company&rdquo; in Rule 12b-2 of the Securities Exchange Act of 1934, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; width: 5%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 15%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large accelerated filer&#8239;&#8239;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 30%; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 18%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated filer&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 27%; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 5%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated filer&#8239;&#8239;&#8239;&#8239;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller reporting company &#8239;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging growth company&#8239;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B)&nbsp;of the Securities Act. </FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Explanatory
Note</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Registration Statement on Form&nbsp;S-8 is being filed for the
purpose of registering 20,881 shares of common stock, par value $2.00, of Peoples Financial Services Corp. (the &ldquo;<B>Registrant</B>&rdquo;)
issuable pursuant to outstanding and unvested restricted stock awards granted under the FNCB 2023 Equity Incentive Plan (the &ldquo;<B>Plan</B>&rdquo;),
which awards were assumed by the Registrant in connection with completion of the transaction contemplated by the Agreement and Plan of
Merger (the &ldquo;<B>Merger Agreement</B>&rdquo;) between the Registrant and FNCB Bancorp,&nbsp;Inc., dated September&nbsp;27, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>Part
I &mdash; Information Required in the Section 10(</B></FONT><B>a<FONT STYLE="text-transform: uppercase">) Prospectus</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">Item 1.</TD><TD><U>Plan Information</U>.*</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">Item 2.</TD><TD><U>Registrant Information and Employee Plan Annual Information</U>.*</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">*</TD><TD STYLE="text-align: justify">The documents containing the information specified
                                            in &ldquo;Item 1. Plan Information&rdquo; and &ldquo;Item 2. Registrant Information and Employee
                                            Plan Annual Information&rdquo; of Form&nbsp;S-8 will be sent or given to participants, as
                                            specified by Rule&nbsp;428(b)(1)&nbsp;under the Securities Act of 1933, as amended (the &ldquo;<B>Securities
                                            Act</B>&rdquo;). Such documents are not required to be, and are not, filed with the United
                                            States Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;) either as
                                            part of this registration statement or as a prospectus or prospectus supplement pursuant
                                            to Rule&nbsp;424 under the Securities Act. These documents and the documents incorporated
                                            by reference in this registration statement pursuant to Item 3 of Part&nbsp;II of Form&nbsp;S-8,
                                            taken together, constitute a prospectus that meets the requirements of Section&nbsp;10(a)&nbsp;of
                                            the Securities Act. Requests regarding any prospectus related to the Plan should be directed
                                            to Marie L. Luciani,&nbsp;Investor Relations Officer, 570.346.7741 or marie.luciani@psbt.com.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Part
II &mdash; Information Required in the Registration Statement</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">Item 3.</TD><TD><U>Incorporation of Documents by Reference</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following documents filed
by the Registrant with the Commission are incorporated herein by reference:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1056943/000155837024003373/pfis-20231231x10k.htm" STYLE="-sec-extract: exhibit">The Registrant&rsquo;s Annual Report on Form&nbsp;10-K for the fiscal year ended December&nbsp;31, 2023, as filed with the Commission on March&nbsp;15, 2024.</A></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1056943/000110465924043948/tm242695d1_def14a.htm" STYLE="-sec-extract: exhibit">The Registrant&rsquo;s Definitive Proxy Statement for the 2024 annual meeting of shareholders as filed with the Commission on April&nbsp;5, 2024.</A></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1056943/000155837024007305/pfis-20240331x10q.htm" STYLE="-sec-extract: exhibit">The Registrant&rsquo;s Quarterly Report on Form&nbsp;10-Q for the quarterly period ended March&nbsp;31, 2024, as filed with the Commission on May&nbsp;8, 2024.</A></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">The Registrant&rsquo;s Current Reports on
                                            Form&nbsp;8-K filed with the Commission pursuant to Section&nbsp;13(a)&nbsp;of the Securities
                                            Exchange Act of 1934, as amended, (the &ldquo;<B>Exchange Act</B>&rdquo;) on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1056943/000110465924034012/tm248669d1_8k.htm" STYLE="-sec-extract: exhibit">March&nbsp;13, 2024</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1056943/000110465924037881/tm248669d3_8k.htm" STYLE="-sec-extract: exhibit">March&nbsp;22, 2024</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1056943/000110465924061157/tm2414448d1_8k.htm" STYLE="-sec-extract: exhibit">May&nbsp;14, 2024</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1056943/000110465924071679/tm2417288d1_8k.htm" STYLE="-sec-extract: exhibit">June&nbsp;14, 2024</A>, and <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1056943/000110465924076605/tm2418346d2_8k.htm" STYLE="-sec-extract: exhibit">July&nbsp;1, 2024</A>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">The description of the Registrant&rsquo;s
                                            common stock, par value $2.00 per share (the &ldquo;Common Stock&rdquo;) contained in <A HREF="https://www.sec.gov/Archives/edgar/data/1056943/000155837023003863/pfis-20221231xex4d2.htm" STYLE="-sec-extract: exhibit">Exhibit&nbsp;4.2</A>
                                            to its Annual Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2023, filed with
                                            the Commission March&nbsp;15, 2024, including any amendment thereto or report filed for the
                                            purpose of further updating such description.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">All documents filed by the Registrant pursuant
                                            to Section&nbsp;13(a)&nbsp;or 15(d)&nbsp;of the United States Securities Exchange Act of
                                            1934, as amended (the &ldquo;<B>Exchange Act</B>&rdquo;), subsequent to the date of this
                                            Registration Statement (excluding any documents or portions of such documents that are furnished
                                            and any exhibits included with such documents), and prior to the filing of a post-effective
                                            amendment to this registration statement which indicates that all securities offered hereby
                                            have been sold or which deregisters all securities then remaining unsold, shall be deemed
                                            to be incorporated by reference into this registration statement and to be a part hereof
                                            commencing on the respective dates on which such documents are filed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any statement contained in this registration
statement or in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded
for purposes of this registration statement to the extent that a statement contained or incorporated by reference herein or in any subsequently
filed document that is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified
or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">Item 4.</TD><TD><U>Description of Securities</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">Item 5.</TD><TD><U>Interests of Named Experts and Counsel</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">Item 6.</TD><TD><U>Indemnification of Directors and Officers</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Statutory
Indemnification</I></FONT>. The Pennsylvania Business Corporation Law of 1988, as amended, provides that a Pennsylvania business corporation,
such as the Registrant, unless otherwise restricted in its bylaws, has the power to indemnify any person who was or is a party or is
threatened to be made a party to any threatened, pending or completed action or proceeding, whether civil, criminal, administrative or
investigative (other than an action by or in the right of the corporation), by reason of the fact that he is or was a representative
of the corporation, or is or was serving at the request of the corporation as a representative of another domestic or foreign corporation
for profit or not-for-profit, partnership, joint venture, trust or other enterprise, against expenses (including attorneys&rsquo; fees),
judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with the action or proceeding if
he acted in good faith and in a manner he reasonably believed to be in, or not opposed to, the best interests of the corporation and,
with respect to any criminal proceeding, had no reasonable cause to believe his conduct was unlawful. In addition, under the PABCL, unless
otherwise restricted in its bylaws, a business corporation shall have power to indemnify any person who was or is a party, or is threatened
to be made a party, to any threatened, pending or completed action by or in the right of the corporation to procure a judgment in its
favor by reason of the fact that he is or was a representative of the corporation or is or was serving at the request of the corporation
as a representative of another domestic or foreign corporation for profit or not-for-profit, partnership, joint venture, trust or other
enterprise, against expenses (including attorneys&rsquo; fees) actually and reasonably incurred by him in connection with the defense
or settlement of the action if he acted in good faith and in a manner he reasonably believed to be in, or not opposed to, the best interests
of the corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The PABCL requires a business corporation to
indemnify any representative against expenses (including attorney fees) actually and reasonably incurred by such representative in defense
of any action or proceeding described above or in defense of any claim, issue or matter therein, to the extent that such representative
has been successful on the merits or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The indemnification and advancement of expenses
provided by, or granted pursuant to, the PABCL are not exclusive of any other rights to which a person seeking indemnification or advancement
of expenses may be entitled under any bylaw, agreement, vote of shareholders or disinterested directors or otherwise, both as to action
in his official capacity and as to action in another capacity while holding that office; provided, however, that no such indemnification
is to be made in any case where the act or failure to act giving rise to the claim for indemnification is determined by a court to have
constituted willful misconduct or recklessness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Indemnification
Pursuant to the Amended and Restated Bylaws of the Registrant</I></FONT>. In accordance with the statutory authority described above,
the Registrant&rsquo;s bylaws provide as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Registrant shall indemnify, to the fullest
extent permitted by Pennsylvania law and federal law, any director, officer and/or employee, or any former director, officer and/or employee,
who was or is a party to, or is threatened to be made a party to, or who is called to be a witness in connection with, any threatened,
pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or
in the right of the Registrant) by reason of the fact that such person is or was a director, officer and /or employee of the Registrant,
or is or was serving at the request of the Registrant as a director, officer, employee or agent of another corporation, partnership,
joint venture, trust or other enterprise, against expenses (including attorney&rsquo;s fees), judgments, fines and amounts paid in settlement
actually and reasonably incurred by him in connection with such action, suit or proceeding if he acted in good faith and in a manner
he reasonably believed to be in, or not opposed to, the best interests of the Registrant, and, with respect to any criminal action or
proceeding, had no reasonable cause to believe his conduct was unlawful. The termination of any action, suit or proceeding by judgment,
order, settlement, conviction or upon a plea of nolo contendere or its equivalent, shall not of itself create a presumption that the
person did not act in good faith and in a manner which he reasonably believed to be in, or not opposed to, the best interests of the
Registrant, and, with respect to any criminal action or proceeding, had reasonable cause to believe that his conduct was unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Registrant shall indemnify, to the fullest
extent permitted by Pennsylvania law and federal law, any director, officer and/or employee, who was or is a party to, or is threatened
by to be made a party to, or who is called as a witness in connection with any threatened, pending or completed action or suit by or
in the right of the corporation to procure a judgment in its favor by reason of the fact that such person is or was a director, officer
and/or employee or agent of another corporation, partnership, joint venture, trust or other enterprise against amounts paid in settlement
and expenses (including attorney&rsquo;s fees) actually and reasonably incurred by him in connection with the defense or settlement of,
or serving as a witness in, such action or suit if he acted in good faith and in a manner he reasonably believed to be in, or not opposed
to, the best interests of the Registrant and except that no indemnification shall be made in respect of any such claim, issue or matter
as to which such person shall have been adjudged to be liable for misconduct in the performance of his duty to the Registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except as may be otherwise ordered by a court,
there shall be a presumption that any director, officer and/or employee is entitled to indemnification as provided in Registrant&rsquo;s
bylaws unless either a majority of the directors who are not involved in such proceedings (&ldquo;disinterested directors&rdquo;) or,
if there are less than three (3)&nbsp;disinterested directors, then the holders of one-third of the outstanding shares of the Registrant
determine that the person is not entitled to such presumption by certifying such determination in writing to the secretary of the Registrant.
In such event the disinterested director(s)&nbsp;or, in the event of certification by shareholders, the secretary of the Registrant shall
request of independent counsel, who may be the outside general counsel of the Registrant, a written opinion as to whether or not the
parties involved are entitled to indemnification under Registrant&rsquo;s bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Expenses incurred in defending a civil or criminal
action, suit or proceeding may be paid by the Registrant in advance of the final disposition of such action, suit or proceeding as authorized
in the manner provided in Registrant&rsquo;s bylaws upon receipt of an undertaking by or on behalf of the director, officer and/or employee
to repay such amount unless it shall ultimately be determined that he is entitled to be indemnified by the Registrant as authorized in
the Registrant&rsquo;s bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The indemnification provided by the Registrant&rsquo;s
bylaws shall not be deemed exclusive of any other rights to which a person seeking indemnification may be entitled under any agreement,
vote of shareholders or disinterested directors, or otherwise, both as to action in his official capacity while serving as a director,
officer and/or employee and as to action in another capacity while holding such office, and shall continue as to a person who has ceased
to be a director, officer and/or employee and shall inure to the benefit of the heirs and personal representatives of such a person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Directors
and Officers Liability Insurance</I></FONT>. The Registrant maintains a policy of directors and officers liability insurance to cover
certain potential liabilities of present or future directors and officers, as well as employees, for actions taken in their capacities
as such and in certain other limited circumstances, including certain potential liabilities under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">Item 7.</TD><TD><U>Exemption from Registration Claimed</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">Item 8.</TD><TD><U>Exhibits</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">An Exhibit Index appears on page 6 hereof and
is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">Item 9.</TD><TD><U>Undertakings</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The undersigned Registrant hereby undertakes:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">To file, during any period in which offers
                                            or sales are being made, a post-effective amendment to this registration statement:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">To include any prospectus required by
                                            Section&nbsp;10(a)(3)&nbsp;of the Securities Act;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">To reflect in the prospectus any facts
                                            or events arising after the effective date of the registration statement (or the most recent
                                            post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental
                                            change in the information set forth in the registration statement. Notwithstanding the foregoing,
                                            any increase or decrease in the volume of securities offered (if the total dollar value of
                                            securities offered would not exceed that which was registered) and any deviation from the
                                            low or high end of the estimated maximum offering range may be reflected in the form of prospectus
                                            filed with the Commission pursuant to Rule&nbsp;424(b)&nbsp;if, in the aggregate, the changes
                                            in the volume and price represent no more than a 20% change in the maximum aggregate offering
                                            price set forth in the &ldquo;Calculating of Filing Fee Tables&rdquo; or &ldquo;Calculation
                                            of Registration Fee&rdquo; table, as applicable, in the effective registration statement;
                                            and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">To include any material information
                                            with respect to the plan of distribution not previously disclosed in the registration statement
                                            or any material change to such information in the registration statement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Provided,
however, </I></FONT>that paragraphs (a)(1)(i)&nbsp;and (a)(1)(ii)&nbsp;do not apply if the information required to be included in a post-effective
amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section&nbsp;13
or Section&nbsp;15(d)&nbsp;of the Exchange Act that are incorporated by reference in the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">That, for the purpose of determining any
                                            liability under the Securities Act, each such post-effective amendment shall be deemed to
                                            be a new registration statement relating to the securities offered therein, and the offering
                                            of such securities at that time shall be deemed to be the initial bona fide offering thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">To remove from registration by means of
                                            a post-effective amendment any of the securities being registered which remain unsold at
                                            the termination of the offering.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The undersigned Registrant hereby undertakes
                                            that, for purposes of determining any liability under the Securities Act, each filing of
                                            the Registrant&rsquo;s annual report pursuant to Section&nbsp;13(a)&nbsp;or Section&nbsp;15(d)&nbsp;of
                                            the Exchange Act (and, where applicable, each filing of an employee benefit plan&rsquo;s
                                            annual report pursuant to Section&nbsp;15(d)&nbsp;of the Exchange Act) that is incorporated
                                            by reference in the registration statement shall be deemed to be a new registration statement
                                            relating to the securities offered therein, and the offering of such securities at that time
                                            shall be deemed to be the initial bona fide offering thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">Insofar as indemnification for liabilities
                                            arising under the Securities Act may be permitted to directors, officers and controlling
                                            persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
                                            has been advised that in the opinion of the Commission such indemnification is against public
                                            policy as expressed in the Securities Act and is, therefore, unenforceable. In the event
                                            that a claim for indemnification against such liabilities (other than the payment by the
                                            Registrant of expenses incurred or paid by a director, officer or controlling person of the
                                            Registrant in the successful defense of any action, suit or proceeding) is asserted by such
                                            director, officer or controlling person in connection with the securities being registered,
                                            the Registrant will, unless in the opinion of its counsel the matter has been settled by
                                            controlling precedent, submit to a court of appropriate jurisdiction the question whether
                                            such indemnification by it is against public policy as expressed in the Securities Act and
                                            will be governed by the final adjudication of such issue.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 90%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: left"><B>Exhibit <BR>
    <U>No.</U></B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: left"><B><U>Description</U></B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt; text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1056943/000119312514102484/d673375dex31.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1&dagger;</FONT></A></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 92%; font-size: 10pt; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1056943/000119312514102484/d673375dex31.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Peoples
    Financial Services Corp. Articles of Incorporation, as amended (incorporated by reference to Exhibit 3.1 to the registrant&rsquo;s
    Form 10-K filed with the Commission on March 17, 2014)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1056943/000155837020010158/pfis-20200630xex3d2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2&dagger; </FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1056943/000155837020010158/pfis-20200630xex3d2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Articles
    of Amendment to the Articles of Incorporation of Peoples Financial Services Corp., effective as of May 19, 2020 (incorporated by
    reference to Exhibit&nbsp;3.2 to registrant&rsquo;s quarterly report on Form&nbsp;10-Q filed with the Commission on August 10, 2020)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1056943/000110465923113839/tm2329664d1_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3&dagger;</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1056943/000110465923113839/tm2329664d1_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Second
    Amended and Restated Bylaws of Peoples Financial Services Corp. (incorporated by reference to Exhibit&nbsp;3.1 to the registrant&rsquo;s
    Current Report on Form 8-K filed with the Commission on November 2, 2023)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1056943/000110465923113839/tm2329664d1_ex3-2.htm" STYLE="-sec-extract: exhibit">4.4&dagger;</A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1056943/000110465923113839/tm2329664d1_ex3-2.htm" STYLE="-sec-extract: exhibit">Peoples Bylaw Amendment effective as of 12:01 AM Eastern Time on July 1, 2024 (incorporated by reference to Exhibit 3.2 to Peoples current
report on Form 8-K filed November 2, 2023)</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><A HREF="tm2418346d1_ex5-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1*</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><A HREF="tm2418346d1_ex5-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion
    of Troutman Pepper Hamilton Sanders LLP</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><A HREF="tm2418346d1_ex23-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1*</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><A HREF="tm2418346d1_ex23-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent
    of Baker Tilly US, LLP</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><A HREF="tm2418346d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.2*</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><A HREF="tm2418346d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent
    of Troutman Pepper Hamilton Sanders LLP (contained in Exhibit 5.1 hereto)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.1*</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Powers
    of Attorney (included on the signature page of this registration statement)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1035976/000143774923018262/ex_536782.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1035976/000143774923018262/ex_536782.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FNCB Bancorp,&nbsp;Inc.
    2023 Equity Incentive Plan (incorporated by reference to Exhibit&nbsp;99.1 to FNCB&rsquo;s Registration Statement on Form S-8 filed
    on June 23, 2023 (File No. 333-272878)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><A HREF="tm2418346d1_ex-filingfees.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">107*</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><A HREF="tm2418346d1_ex-filingfees.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Calculation
    of Filing Fee Table</FONT></A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&dagger;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Previously
filed</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">*&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Filed
herewith</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing
on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized,
in the City of Scranton, Commonwealth of Pennsylvania, on July&#8239;1, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
<TD COLSPAN="2"><B>Peoples Financial Services Corp.</B></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
<TD COLSPAN="2"></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: center; width: 50%">&nbsp;</TD>
<TD STYLE="width: 3%">By:</TD>
<TD STYLE="border-bottom: Black 1pt solid; width: 47%">/s/ Craig W. Best</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>Name: Craig W. Best</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>Title: Chief Executive Officer</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>(Principal Executive Officer)</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
<TD>By:</TD>
<TD STYLE="border-bottom: Black 1pt solid">/s/ John R. Anderson, III</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>Name: John R. Anderson, III</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>Title: Executive Vice President and Chief Financial Officer</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>(Principal Financial Officer and Principal Accounting Officer)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_001"></A>POWERS OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each person whose signature
appears below constitutes and appoints Craig W. Best and John R. Anderson,&nbsp;III, or either of them, as his or her true and lawful
attorneys-in-fact and agents, each of whom may act alone, with full powers of substitution and resubstitution, for him or her and in
his or her name, place and stead, in any and all capacities, to sign any or all amendments to this registration statement, including
post-effective amendments to this registration statement, registration statements filed pursuant to Rule&nbsp;429 under the Securities
Act, and any related registration statements necessary to register additional securities, and to file the same, with all exhibits thereto,
and other documents and in connection therewith, with the Commission, granting unto said attorneys-in-fact and agents, and each of them
full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises,
as fully to all intents and purposes as he or she might or could do in person, and hereby ratifies and confirms all his or her said attorneys-in-fact
and agents or any of them or his or her substitute or substitutes may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Power of Attorney may
be executed in multiple counterparts, each of which shall be deemed an original, but which taken together shall constitute one instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Act, this registration statement has been signed by the following persons in the capacities indicated on July&#8239;1,
2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Signature</B></FONT></TD>
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">/s/ William E. Aubrey II</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director and Chairman of
    the Board</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">William E. Aubrey II</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">/s/&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Craig W. Best</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director and Chief Executive
    Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Craig W. Best</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Executive Officer)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">/s/&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">John R. Anderson,&nbsp;III</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive Vice President
    and Chief Financial Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">John R. Anderson,&nbsp;III</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Financial Officer
    and Principal Accounting Officer)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">/s/ Sandra L. Bodnyk</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sandra L. Bodnyk</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; width: 49%">/s/ William G. Bracey</TD>
    <TD STYLE="text-align: justify; width: 3%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 48%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">William G. Bracey</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">/s/ Joseph Coccia</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph Coccia</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">/s/ <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">William P. Conaboy</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">William P. Conaboy</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">/s/ Joseph L. DeNaples</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph L. DeNaples</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Louis A. DeNaples Sr.</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">/s/ Keith W. Eckel</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Keith W. Eckel</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">/s/ Ronald G. Kukuchka</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ronald G. Kukuchka</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">/s/ Kathleen M. Lambert</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kathleen M. Lambert</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">/s/ Richard S. Lochen,&nbsp;Jr.</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Richard S. Lochen,&nbsp;Jr.</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 49%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 3%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 48%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thomas J. Melone</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">/s/ James B. Nicholas</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James B. Nicholas</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">/s/ Elisa Z&uacute;&ntilde;iga
    Ramirez</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Elisa Z&uacute;&ntilde;iga
    Ramirez</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">/s/ <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph T. Wright,&nbsp;Jr.</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph T. Wright,&nbsp;Jr.</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>tm2418346d1_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Exhibit 5.1</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Troutman Pepper Hamilton Sanders LLP</FONT></TD>
    <TD ROWSPAN="5" STYLE="border-bottom: Black 1pt solid; text-align: right; width: 50%">
    <IMG SRC="tm2418346d1_ex5-1img001.jpg" ALT=""><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3000 Two Logan Square</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Eighteenth and Arch Streets</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Philadelphia, PA 19103-2799</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt; border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">troutman.com</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">July 1, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Peoples Financial Services Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">150 N. Washington Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Scranton, Pennsylvania 18503-1848</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Re:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Registration
Statement on Form S-8</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Reference is made to the registration statement
on Form&nbsp;S-8 (the &ldquo;<B><I>Registration Statement</I></B>&rdquo;) of Peoples Financial Services Corp., a Pennsylvania corporation
(the &ldquo;<B><I>Company</I></B>&rdquo;), filed on the date hereof with the Securities and Exchange Commission (the &ldquo;<B><I>Commission</I></B>&rdquo;),
under the Securities Act of 1933, as amended (the &ldquo;<B><I>Act</I></B>&rdquo;).&nbsp; The Registration Statement covers an aggregate
of 20,881 shares of common stock, par value $2.00 per share (the &ldquo;<B><I>Shares</I></B>), of the Company, issuable under the FNCB
2023 Equity Incentive Plan (the &ldquo;<B><I>Plan</I></B>&rdquo;). This opinion letter is furnished to you at your request to enable
you to fulfill the requirements of Item 601(b)(5)&nbsp;of Regulation S-K, 17 C.F.R. &sect; 229.601(b)(5), in connection with the Registration
Statement, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or any prospectus
related thereto, other than as expressly stated herein with respect to the issuance of the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of this opinion letter, we have examined
copies of such agreements, instruments and documents as we have deemed an appropriate basis on which to render the opinions hereinafter
expressed. In our examination of the aforesaid documents, we have assumed the genuineness of all signatures, the legal capacity of all
natural persons, the accuracy and completeness of all documents submitted to us, the authenticity of all original documents, and the conformity
to authentic original documents of all documents submitted to us as copies (including telecopies). As to all matters of fact, we have
relied on the representations and statements of fact made in the documents so reviewed, and we have not independently established the
facts so relied on. This opinion letter is given, and all statements herein are made, in the context of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This opinion letter is based as to matters of
law solely on the Pennsylvania Business Corporation Law of 1988, as amended. We express no opinion herein as to any other statutes, rules&nbsp;or
regulations. We assume no obligation to supplement this opinion if any applicable law changes after the date hereof or if we become aware
of any fact that might change the opinion expressed herein after the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based on the foregoing, we are of the opinion
that the Shares, when issued in accordance with the terms of the Plan, will be validly issued, fully paid and non-assessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #141B4D"><B>Peoples Financial Services Corp.</B></FONT></TD>
    <TD ROWSPAN="5" STYLE="text-align: right; border-bottom: Black 1pt solid; width: 50%">
    <IMG SRC="tm2418346d1_ex5-1img002.jpg" ALT=""><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #141B4D"></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #141B4D">July 1, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #141B4D">Page 2</FONT></TD></TR>
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    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
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    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We hereby consent to the filing of this opinion
as an exhibit to the Registration Statement.&nbsp; In giving such consent, we do not thereby admit that we come within the category of
persons whose consent is required under Section&nbsp;7 of the Act or the rules&nbsp;or regulations of the Commission thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>/s/ Troutman Pepper Hamilton Sanders LLP</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Troutman Pepper Hamilton Sanders LLP</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>tm2418346d1_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 23.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the incorporation by reference
in this Registration Statement on Form&nbsp;S-8 of Peoples Financial Services Corp. and Subsidiaries (the
 &ldquo;<B>Registrant</B>&rdquo;) of our report, dated March 15, 2024, on the consolidated financial statements and the
effectiveness of the Registrant&rsquo;s internal control over financial reporting, which appears in the Registrant&rsquo;s Annual
Report on Form&nbsp;10-K for the year ended December 31, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Baker Tilly US, LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Allentown, Pennsylvania</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">July  1, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>4
<FILENAME>tm2418346d1_ex-filingfees.htm
<DESCRIPTION>EX-FILING FEES
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 107</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Calculation of Filing Fee Tables</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form S-8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Form Type)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Peoples Financial Services Corp.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD COLSPAN="8" STYLE="white-space: nowrap; border-top: gray 1pt outset; border-right: black 1pt inset; border-bottom: gray 1pt outset; border-left: gray 1pt outset; padding: 2.6pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Table 1: Newly Registered Securities</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap; width: 13%; border-right: gray 1pt outset; border-bottom: gray 1pt outset; border-left: gray 1pt outset; padding: 2.6pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Security Type</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 15%; border-bottom: gray 1pt outset; padding: 2.6pt; border-right: gray 1pt outset; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Security Class&nbsp;<BR>
Title</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 12%; border-bottom: gray 1pt outset; padding: 2.6pt; border-right: gray 1pt outset; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Fee Calculation <BR>
Rule</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: gray 1pt outset; padding: 2.6pt; border-right: gray 1pt outset; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount<BR>
Registered<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 16%; border-bottom: gray 1pt outset; padding: 2.6pt; border-right: gray 1pt outset; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proposed
    Maximum <BR> Offering Price <BR> Per Unit</B></FONT><FONT STYLE="font-size: 10pt"><SUP>(3)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 16%; border-bottom: gray 1pt outset; padding: 2.6pt; border-right: gray 1pt outset; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Maximum Aggregate <BR>
Offering Price</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: gray 1pt outset; padding: 2.6pt; border-right: gray 1pt outset; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Fee Rate</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 12%; border-bottom: gray 1pt outset; padding: 2.6pt; border-right: black 1pt inset; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount of <BR>
Registration Fee</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: gray 1pt outset; border-bottom: gray 1pt outset; border-left: gray 1pt outset; padding: 2.6pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equity</FONT></TD>
    <TD STYLE="border-right: gray 1pt outset; border-bottom: gray 1pt outset; padding: 2.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common Stock, $2.00 par value</FONT></TD>
    <TD STYLE="border-right: gray 1pt outset; border-bottom: gray 1pt outset; padding: 2.6pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other</FONT></TD>
    <TD STYLE="border-right: gray 1pt outset; border-bottom: gray 1pt outset; padding: 2.6pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,881<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="border-right: gray 1pt outset; border-bottom: gray 1pt outset; padding: 2.6pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT>45.07</TD>
    <TD STYLE="border-right: gray 1pt outset; border-bottom: gray 1pt outset; padding: 2.6pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$941,106.67</FONT></TD>
    <TD STYLE="border-right: gray 1pt outset; border-bottom: gray 1pt outset; padding: 2.6pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.00014760</FONT></TD>
    <TD STYLE="border-right: black 1pt inset; border-bottom: gray 1pt outset; padding: 2.6pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$138.91</FONT></TD></TR>
  <TR>
    <TD COLSPAN="4" STYLE="border-right: gray 1pt outset; border-bottom: gray 1pt outset; border-left: gray 1pt outset; padding: 2.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total Offering Amounts</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: gray 1pt outset; border-bottom: gray 1pt outset; padding: 2.6pt; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: gray 1pt outset; border-bottom: gray 1pt outset; padding: 2.6pt; background-color: white; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$941,106.67</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: gray 1pt outset; border-bottom: gray 1pt outset; padding: 2.6pt; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt inset; border-bottom: gray 1pt outset; padding: 2.6pt; background-color: white; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$138.91</FONT></TD></TR>
  <TR>
    <TD COLSPAN="4" STYLE="border-right: gray 1pt outset; border-bottom: gray 1pt outset; border-left: gray 1pt outset; padding: 2.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total Fee Offsets</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: gray 1pt outset; border-bottom: gray 1pt outset; padding: 2.6pt; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: gray 1pt outset; border-bottom: gray 1pt outset; padding: 2.6pt; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: gray 1pt outset; border-bottom: gray 1pt outset; padding: 2.6pt; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt inset; border-bottom: gray 1pt outset; padding: 2.6pt; background-color: white; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0</FONT></TD></TR>
  <TR>
    <TD COLSPAN="4" STYLE="border-right: gray 1pt outset; border-left: gray 1pt outset; padding: 2.6pt; border-bottom: black 1pt inset"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Net Fee Due</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: gray 1pt outset; border-bottom: black 1pt inset; padding: 2.6pt; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: gray 1pt outset; border-bottom: black 1pt inset; padding: 2.6pt; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: gray 1pt outset; border-bottom: black 1pt inset; padding: 2.6pt; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt inset; border-bottom: black 1pt inset; padding: 2.6pt; background-color: white; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$138.91</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1)</TD><TD STYLE="text-align: justify">Pursuant to Rule&nbsp;416 under the Securities Act of 1933 (the &ldquo;<B>Securities Act</B>&rdquo;),
as amended, the common shares being registered hereunder include such indeterminate number of common shares as may be issuable with respect
to the shares being registered hereunder as a result of stock splits, stock dividends, or similar transactions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2)</TD><TD STYLE="text-align: justify">Represents shares of Registrant&rsquo;s Common Stock issuable in connection with outstanding and unvested
restricted stock awards granted under the FNCB 2023 Equity Incentive Plan that were assumed by the Registrant pursuant to the Agreement
and Plan of Merger between the Registrant and FNCB Bancorp,&nbsp;Inc, dated September&nbsp;27, 2023.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3)</TD><TD STYLE="text-align: justify">Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rules&nbsp;457(c)&nbsp;and
(h)&nbsp;under the Securities Act, based on the average of the high and low prices of the Registrant&rsquo;s Common Stock as quoted on
the Nasdaq Stock Market on June&nbsp;28, 2024, which was $45.07.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
