Peoples Financial Sells $78.6M Treasuries, Buys Higher-Yield Securities
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Peoples Financial Services Corp. has sold $78.6 million in lower-yielding U.S. treasury bonds and reinvested the proceeds into higher-yield securities, including $38.2 million in U.S. agency mortgage-backed securities and $37.9 million in discounted municipal bonds. This repositioning is expected to increase interest income by approximately $2.8 million over the next year.
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