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Business Combinations (Tables) | 12 Months Ended
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Dec. 31, 2024
Business Combinations |
Schedule of Acquired Assets and Assumed Liabilities Measured at Estimated Fair Values | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollars in thousands) | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​
Purchase Price Consideration | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
FNCB Bancorp, Inc. common shares settled for stock | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 20,110,771 | ​ | ​ | ​ | ​ | ​ | ​
Exchange Ratio | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 0.146 | ​ | ​ | ​ | ​ | ​ | ​
Peoples Financial Services Corp. shares issued | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2,935,456 | ​ | ​ | ​ | ​ | ​ | ​
Price per share of Peoples Financial Services Corp. common stock on June 28, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 45.54 | ​ | ​ | ​ | ​ | ​ | ​
Purchase price consideration for common stock | ​ | ​ | ​ | ​ | ​ | ​ | $ | 133,681 | ​ | ​ | ​ | ​ | ​ | ​
Cash in lieu of fractional shares | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 32 | ​ | ​ | ​ | ​ | ​ | ​
Total purchase price consideration | ​ | ​ | ​ | ​ | ​ | ​ | $ | 133,713 | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollars in thousands) | ​ | FNCB Bancorp, Inc. Book Value 6/30/2024 | ​ | ​ | Initially Reported Fair Value Adjustments | ​ | ​ | FNCB Bancorp, Inc. Initially Reported Fair Value 6/30/2024 | ​ | ​ | Measurement Period Adjustments | ​ | ​ | FNCB Bancorp, Inc. Adjusted Fair Value 6/30/2024
Total purchase price consideration | $ | ​ | ​ | $ | ​ | ​ | $ | 133,713 | ​ | $ | ​ | ​ | $ | 133,713
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Recognized amounts of identifiable assets acquired and liabilities assumed | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | 28,843 | ​ | ​ | ​ | ​ | ​ | 28,843 | ​ | ​ | ​ | ​ | ​ | 28,843
Investment securities | ​ | 426,107 | ​ | ​ | (4,180) | ​ | ​ | 421,927 | ​ | ​ | ​ | ​ | ​ | 421,927
Loans held for investment | ​ | 1,267,330 | ​ | ​ | (71,306) | ​ | ​ | 1,196,024 | ​ | ​ | ​ | ​ | ​ | 1,196,024
Allowance for credit losses | ​ | (13,921) | ​ | ​ | 12,080 | ​ | ​ | (1,841) | ​ | ​ | ​ | ​ | ​ | (1,841)
Loans held for investment, net of allowance | ​ | 1,253,409 | ​ | ​ | (59,226) | ​ | ​ | 1,194,183 | ​ | ​ | ​ | ​ | ​ | 1,194,183
Restricted stock | ​ | 9,934 | ​ | ​ | ​ | ​ | ​ | 9,934 | ​ | ​ | ​ | ​ | ​ | 9,934
Premises and equipment, net | ​ | 13,960 | ​ | ​ | 593 | ​ | ​ | 14,553 | ​ | ​ | ​ | ​ | ​ | 14,553
Accrued interest receivable | ​ | 7,448 | ​ | ​ | ​ | ​ | ​ | 7,448 | ​ | ​ | ​ | ​ | ​ | 7,448
Core deposit intangibles | ​ | ​ | ​ | ​ | 36,629 | ​ | ​ | 36,629 | ​ | ​ | ​ | ​ | ​ | 36,629
Wealth management customer list intangible | ​ | ​ | ​ | ​ | 988 | ​ | ​ | 988 | ​ | ​ | ​ | ​ | ​ | 988
Deferred tax asset | ​ | 14,415 | ​ | ​ | 5,083 | ​ | ​ | 19,498 | ​ | ​ | (164) | ​ | ​ | 19,334
Operating lease right of use asset | ​ | 2,821 | ​ | ​ | 263 | ​ | ​ | 3,084 | ​ | ​ | ​ | ​ | ​ | 3,084
Other assets | ​ | 62,728 | ​ | ​ | (3,483) | ​ | ​ | 59,245 | ​ | ​ | 1,540 | ​ | ​ | 60,785
Total identifiable assets acquired | ​ | 1,819,665 | ​ | ​ | (23,333) | ​ | ​ | 1,796,332 | ​ | ​ | 1,376 | ​ | ​ | 1,797,708
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits | ​ | 1,429,406 | ​ | ​ | (2,405) | ​ | ​ | 1,427,001 | ​ | ​ | ​ | ​ | ​ | 1,427,001
Borrowings | ​ | 227,135 | ​ | ​ | (851) | ​ | ​ | 226,284 | ​ | ​ | ​ | ​ | ​ | 226,284
Trust preferred | ​ | 10,310 | ​ | ​ | (2,318) | ​ | ​ | 7,992 | ​ | ​ | ​ | ​ | ​ | 7,992
Accrued interest payable | ​ | 1,966 | ​ | ​ | ​ | ​ | ​ | 1,966 | ​ | ​ | ​ | ​ | ​ | 1,966
Operating lease liability | ​ | 3,082 | ​ | ​ | ​ | ​ | ​ | 3,082 | ​ | ​ | ​ | ​ | ​ | 3,082
Other liabilities | ​ | 9,704 | ​ | ​ | 178 | ​ | ​ | 9,882 | ​ | ​ | 404 | ​ | ​ | 10,286
Total liabilities assumed | ​ | 1,681,603 | ​ | ​ | (5,396) | ​ | ​ | 1,676,207 | ​ | ​ | 404 | ​ | ​ | 1,676,611
Total identifiable net assets | $ | 138,062 | ​ | $ | (17,937) | ​ | $ | 120,125 | ​ | $ | 972 | ​ | $ | 121,097
Goodwill | ​ | ​ | ​ | ​ | ​ | ​ | $ | 13,588 | ​ | $ | (972) | ​ | $ | 12,616
Schedule of fair value of acquired PCD loans | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dollars in thousands |  | ​ | Unpaid Principal Balance |  | ​ | Total Discount at Acquisition |  | ​ | Gross-up for PCD Allowance for Credit Losses at Acquisition |  | ​ | Fair Value of PCD Loans at Acquisition
PCD Accruing |  | $ | 95,851 |  | $ | (3,626) |  | $ | 1,841 |  | $ | 94,066
PCD Nonaccrual | ​ | ​ | 10,470 | ​ | ​ | (2,898) | ​ | ​ | ​ | ​ | ​ | 7,572
Total PCD loans | ​ | $ | 106,321 | ​ | $ | (6,524) | ​ | $ | 1,841 | ​ | $ | 101,638
Schedule of costs identified and classified as merger-related expenses of the acquisition | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended | ​ | Year Ended
(Dollars in thousands) | ​ | December 31, 2024 | ​ | December 31, 2023
Severance expenses | ​ | $ | 1,583 | ​ | $ | ​
System termination and integration fees | ​ | ​ | 10,600 | ​ | ​ | ​
Financial advisory fees | ​ | ​ | 1,795 | ​ | ​ | 1,098
Legal and professional fees | ​ | ​ | 866 | ​ | ​ | 647
Other merger related expenses | ​ | ​ | 1,356 | ​ | ​ | 71
Total | ​ | $ | 16,200 | ​ | $ | 1,816
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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