Peoples Economic Products and services Corp. Announces Prevalent Stock Repurchase Strategy | State
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SCRANTON, Pa., Feb. 1, 2021 /PRNewswire/ — Peoples Economic Providers Corp. (“Peoples”) (NASDAQ: PFIS), the financial institution keeping organization for Peoples Protection Lender and Have confidence in Enterprise, announced today that its board of administrators has authorized a stock repurchase plan furnishing for the buy of up to 4.9 % its superb shares prevalent stock, or 353,422 shares. The timing, price and volume of repurchases will be centered on current market situations, applicable securities laws and other components. The stock repurchases could be produced from time to time on the open up marketplace or in privately negotiated transactions. The stock repurchase method does not involve Peoples to repurchase any unique variety of shares, and Peoples may perhaps terminate the repurchase program at any time. As of the date of this launch, Peoples has approximately 7,212,702 shares of prevalent inventory remarkable.
Peoples Monetary Companies Corp. is the father or mother corporation of Peoples Safety Bank and Belief Enterprise, a local community financial institution serving Bucks, Lackawanna, Lebanon, Lehigh, Luzerne, Monroe, Montgomery, Northampton, Schuylkill, Susquehanna, and Wyoming Counties in Pennsylvania and Broome County in New York by way of 26 offices. Every office environment, interdependent with the group, offers a complete array of money items and companies to persons, enterprises, not-for-earnings companies and govt entities. Peoples’ organization philosophy features giving immediate obtain to senior administration and other officers and supplying friendly, knowledgeable and courteous service, regional and well timed choice building, versatile and sensible working treatments and regularly used credit rating procedures.
Harmless Harbor Forward-Wanting Statements:
We make statements in this press launch, and we may from time to time make other statements pertaining to our outlook or anticipations for long run money or running benefits and/or other matters relating to or influencing Peoples Economic Expert services Corp. and Peoples Protection Financial institution and Believe in Corporation (collectively, “Peoples”) that are regarded as “ahead-wanting statements” as outlined in Area 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Trade Act of 1934, as amended. Such ahead-on the lookout statements may perhaps be identified by the use of these kinds of words and phrases as “consider,” “hope,” “foresee,” “must,” “prepared,” “believed,” “intend” and “potential.” For these statements, Peoples claims the safety of the statutory protected harbors for forward-on the lookout statements.
Peoples cautions you that a range of essential factors could lead to real effects to vary materially from those presently anticipated in any forward-searching statement. This kind of aspects involve, but are not constrained to: prevailing economic and political ailments, notably in our marketplace region the unfolding COVID-19 crisis and the governmental responses to the disaster credit possibility connected with our lending things to do alterations in curiosity charges, financial loan desire, serious estate values and level of competition changes in accounting ideas, guidelines, and pointers variations in any relevant legislation, rule, regulation or follow with regard to tax or legal difficulties our means to determine and address cyber-stability threats and other financial, aggressive, governmental, regulatory and technological factors affecting Peoples’ operations, pricing, solutions and providers and other elements that may perhaps be described in Peoples’ Annual Studies on Variety 10-K and Quarterly Experiences on Sort 10-Q as submitted with the Securities and Trade Fee from time to time.
In addition to these pitfalls, acquisitions and enterprise mixtures, existing threats other than those people presented by the character of the enterprise obtained. Acquisitions and enterprise combinations might be considerably much more costly to entire than originally anticipated, and the anticipated gains may perhaps be significantly harder-or choose more time-to obtain than predicted. As regulated fiscal institutions, our pursuit of eye-catching acquisition and small business combination options could be negatively impacted by regulatory delays or other regulatory problems. Regulatory and/or authorized difficulties connected to the pre-acquisition functions of an acquired or combined enterprise might result in reputational harm to Peoples following the acquisition or mixture, and integration of the obtained or mixed company with ours could outcome in additional future expenses arising as a consequence of individuals challenges.
The ahead-searching statements are produced as of the day of this release, and, apart from as may perhaps be necessary by relevant legislation or regulation, Peoples assumes no obligation to update the ahead-seeking statements or to update the factors why real final results could differ from those people projected in the forward-hunting statements.
Resource Peoples Money Expert services Corp.
