Form 8-K

8-K — PEOPLES FINANCIAL SERVICES CORP.

Accession: 0001104659-26-039162

Filed: 2026-04-02

Period: 2026-03-27

CIK: 0001056943

SIC: 6021 (NATIONAL COMMERCIAL BANKS)

Item: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

Item: Financial Statements and Exhibits

Documents

8-K — tm2610999d1_8k.htm (Primary)

EX-10.1 — EXHIBIT 10.1 (tm2610999d1_ex10-1.htm)

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8-K — FORM 8-K

8-K (Primary)

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0001056943

2026-03-27

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report: March 27, 2026

(Date of earliest event reported)

PEOPLES FINANCIAL SERVICES CORP.

(Exact name of registrant as specified in its Charter)

001-36388

23-2391852

(State or other jurisdiction

(Commission file number)

(IRS Employer

of incorporation)

Identification No.)

30 E D Preate Drive, Moosic, PA 18507

(Address of Principal Executive Offices) (Zip Code)

(570) 346-7741

(Registrant’s telephone number, including

area code)

Check the appropriate box below if the Form 8-K

filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General

Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities

Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange

Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under

the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under

the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $2.00 par value

PFIS

The Nasdaq Stock Market LLC

Indicate by check mark whether the

registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or

Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ¨

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 13(a) of the Exchange Act. ¨

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;

Compensatory Arrangements of Certain Officers.

Appointment of Officer

On March 27, 2026, Peoples Financial Services

Corp., a Pennsylvania corporation (“Peoples”) and its banking subsidiary, Peoples Security Bank and Trust Company (“Peoples

Bank”) appointed Gerard A. Champi, President of Peoples and Peoples Bank effective April 3, 2026, upon the retirement of Thomas

P. Tulaney, effective April 3, 2026, as previously reported on Peoples’ Current Report on Form

8-K filed with the Securities and Exchange Commission (“SEC”) on January 30, 2026, which is incorporated herein by reference.

Mr. Champi is a party to that certain Employment

Agreement dated July 26, 2024 between Mr. Champi and Peoples and Peoples Bank, a summary of which can be found in Peoples Current Report

on Form 8-K filed with

the SEC on July 29, 2024, and which is incorporated herein by reference. Since December 31, 2024, Mr. Champi has served as Chief Executive

Officer of Peoples and Peoples Bank, and he will continue in that roll in addition to his duties as President. Additional information

about Mr. Champi’s background, experience, and qualifications can be found in Peoples’ Definitive

Proxy Statement filed with the SEC on April 1, 2025, under the heading “Executive Officers and Compensation,” and is incorporated

herein by reference.

There is no family relationship between Mr. Champi

and any other person serving as a director or executive officer of Peoples. Mr. Champi is not a party to any transaction that requires

disclosure under Item 404(a) of Regulation S-K.

Officer Compensatory Arrangements

In connection with Mr. Tulaney’s retirement,

Peoples accelerated the vesting of 207 shares of restricted stock and 709 restricted stock units previously awarded to Mr. Tulaney under

the 2023 Equity Incentive Plan to his date of retirement and agreed to transfer to Mr. Tulaney the company owned vehicle used by him.

On March 27, 2026, Peoples Bank entered into a

Consulting and Confidentiality Agreement with Mr. Tulaney with an effective date of April 3, 2026. Pursuant to the agreement, Mr. Tulaney

shall provide Peoples Bank and its employees with senior advisory services, including but not limited to, consulting on strategic initiatives

and operations, evaluating business opportunities, assisting with high profile relationships and community and stakeholder engagement.

Mr. Tulaney shall be paid a consulting fee equal to Eight Thousand and 00/100 Dollars ($8,000.00) per month by Peoples Bank. Either Peoples

Bank or Mr. Tulaney may terminate the agreement for any reason or no reason, by providing the counterparty thirty (30) days written notice.

The foregoing description of the agreement is not complete and is qualified in its entirety by reference to the complete text of the agreement,

which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Departure of Director

On April 1, 2026, Elisa Zúñiga Ramirez

provided notice to Peoples that she will not stand for reelection as a director of Peoples when her term expires at the 2026 annual meeting

of shareholders. Such decision was not the result of any disagreement with Peoples.

The board of directors of Peoples has resolved

to decrease the number of directors constituting the entire Peoples board from fifteen to fourteen, and the board of directors of Peoples

Bank has resolved to decrease the number of directors constituting the entire Peoples Bank board from seventeen to fifteen, in each case

effective as of the 2026 annual meeting of shareholders.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibits are filed with this form

8-K:

Exhibit No.

Description

10.1

Consulting and Confidentiality Agreement dated March 27, 2026 between Peoples Bank and Thomas P. Tulaney

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf

by the undersigned hereunto duly authorized.

PEOPLES

FINANCIAL SERVICES CORP.

By:

/s/ James M. Bone, Jr., CPA

James M. Bone, Jr., CPA

Executive Vice President and Chief Financial Officer

Principal Financial Officer

Dated: April 2, 2026

EX-10.1 — EXHIBIT 10.1

EX-10.1

Filename: tm2610999d1_ex10-1.htm · Sequence: 2

Exhibit 10.1

Consulting

and CONFIDENTIALITY AGREEMENT

THIS CONSULTING AND CONFIDENTIALITY AGREEMENT

(“Agreement”) is made as of the 27th day of March, with an effective date of April 3, 2026 (the “Effective

Date”), by and between Peoples Security Bank and Trust Company, a Pennsylvania state chartered bank and trust company (the “Bank”)

and the undersigned consultant Thomas P. Tulaney (the “Consultant” and, together with the Bank, the “Parties”).

Background

A. The Parties desire the Consultant to provide

certain services to the Bank. In order to perform the services, the Consultant may have access to certain confidential information of

the Bank and its affiliates.

B. The Consultant has been advised of and acknowledges

the competitive value and proprietary nature of the confidential information of the Bank and its affiliates, and the damage that could

result to the Bank and its affiliates if their confidential information is improperly used or disclosed.

C. The Bank is only willing to engage the Consultant

to provide services to the Bank in the event that the Consultant agrees to the terms and conditions set forth in this Agreement.

Agreement

NOW THEREFORE, in consideration

the mutual premises and undertakings contained herein, and other good and valuable consideration, the receipt and sufficiency of which

is hereby acknowledged, the Parties, intending to be legally bound hereby, agree as follows:

1. Services. During the term of this Agreement,

the Consultant shall perform the services described on Exhibit “A” attached hereto and made a part hereof, (the

“Services”). The Consultant shall determine the manner, method, details and means of performing the Services, and the

Parties acknowledge and agree that the Consultant may perform services for any other person or entity as long as the performance of such

services does not conflict with Consultant’s obligations under this Agreement or are in competition with the business of the Bank

and its affiliates.

2. Term. The term of this Agreement shall

commence on the Effective Date and shall continue until terminated as provided herein. Either Party may terminate this Agreement at any

time, and for any reason or no reason, by thirty (30) days’ written notice to the other Party. The Consultant’s obligations

of confidentiality, limited use and nondisclosure shall survive the termination or expiration of this Agreement indefinitely.

3. Compensation. In full consideration

for the Services to be provided hereunder, the Bank shall pay consultant Eight Thousand and 00/100 Dollars ($8,000.00) per month (the

“Consulting Fees”). The Consulting Fees shall be payable on the 10th day of the month, with the first payment due

on May 10, 2026. Consultant shall submit to the Bank, no later than the 10th day of the month following the month that

the Services are performed, a statement outlining the date and description of the services performed (the “Consultant’s Statement”).

Attached hereto and made a part hereof, marked Exhibit “B”, is a copy of the Consultant’s Statement template.

4. Independent Contractor Relationship.

The Consultant shall at all times be an independent contractor and not an employee of the Bank and nothing herein shall be deemed to create

an employer-employee relationship. As an independent contractor, the Consultant shall not be eligible to participate in any employee benefits

the Bank may provide, such as those it provides to its employees, if any, including, but not limited to: medical, disability, workers’

compensation or other insurance; vacation, personal, sick or holiday pay; or other benefits. The Consultant shall obtain his own insurance

and provide proof of insurance to the Bank, upon request. The Bank shall not withhold taxes or otherwise make deductions from the Consultant’s

compensation and the Consultant shall be issued an IRS Form 1099 in connection with his compensation to the extent required by law.

The Consultant shall be solely responsible for any taxes incurred as a result of the compensation paid under this Agreement.

5. Definition of Confidential Information.

As used in this Agreement, the term “Confidential Information” means all oral and written information, including without

limitation the Bank Data (as such term is defined below), that is not generally known to the public, including, without limitation, any

and all information and trade secrets relating to the operation, business, strategies, financial affairs, products, systems (computer

and otherwise), technologies, sales, research and development, user data, services, vendor information, customer information (including

nonpublic personal information), employee information or intellectual properties of the Bank or its affiliates or any other party with

whom the Bank or its affiliates is doing business, and any and all other information concerning the Bank and its affiliates, including

without limitation all information encompassed in descriptions, reports, recommendations, analyses, proposals, test data, other data,

business plans or other plans, treatments, scripts, budgets, programs, outlines, specifications, ideas, concepts, models, and documents,

whether or not protectable by patent, copyright or other laws, whether furnished before or after the date of this Agreement, together

with any additional information derived from such information and contained in all analyses, compilations, studies or other documents

or records prepared by the Consultant or its Representatives, as well as all copies and other reproductions thereof, whether in writing

or stored or maintained in or by electronic, magnetic or other means, media or devices. As used in this Agreement, the term “Representatives”

means, with respect to any Party, the directors, officers, shareholders, employees, affiliates and controlling persons of such Party (as

applicable), and its and their respective agents, advisors and representatives (including without limitation attorneys, accountants and

financial advisors).

6. Exclusions from Confidential Information.

Notwithstanding anything to the contrary contained in Paragraph 5, Confidential Information does not include information which (i) was

or becomes available to the public other than as a result of a disclosure by the Consultant or its Representatives; or (ii) was or

becomes available to the Consultant on a non-confidential basis from a source other than the Bank or any of its Representatives, provided

that such source is not bound by a confidentiality agreement with the Bank or otherwise prohibited from transmitting the information to

the Consultant; or (iii) was within the Consultant’s possession prior to its being furnished by or on behalf of the Bank, provided

that the source of such information was not bound by a confidentiality agreement with the Bank in respect thereof or otherwise prohibited

from transmitting the information to the Consultant.

7. Use of Confidential Information.

a.            The

Consultant agrees to keep any Confidential Information confidential and not to disclose any Confidential Information or use any Confidential

Information for any purpose other than to the extent necessary for the performance of the Services. Accordingly, the Consultant agrees

to treat the Confidential Information which he receives as he would his own confidential information and to take all reasonable precautions

to prevent the unauthorized disclosure to any third party of any Confidential Information.

b.            The

Consultant shall be responsible for any improper use of the Confidential Information by his Representatives and agrees, at his own expense,

to take all reasonable measures, including but not limited to court proceedings, to restrain his Representatives from unauthorized disclosure

or use of the Confidential Information. Prior to providing any Representative with access to Confidential Information the Consultant shall

(i) take reasonable steps to verify that the relevant Representative is capable of maintaining the privacy, confidentiality and security

of the Confidential Information; and (ii) require the third party to maintain adequate safeguards for Confidential Information.

c.            In

addition, the Consultant shall comply with all applicable federal, state and local laws, rules, regulations and ordinances governing or

relating to the security of Bank Data or privacy rights in connection with his performance of any services for the Bank, including, without

limitation, the Gramm-Leach-Bliley Act, as amended (“GLB”) and the New York Department of Financial Services Cybersecurity

Requirements for Financial Services Companies (collectively “Applicable Data Protection Laws”). The Consultant shall

implement such physical and other security measures as shall be necessary to (i) ensure the security and confidentiality of the “nonpublic

personal information” of the current or former “customers” and “consumers” (as those terms are defined in

GLB) of the Bank (collectively: the “Bank Data”) which the Consultant holds, (ii) protect against any threats

or hazards to the security and integrity of such Bank Data, (iii) protect against any unauthorized access to or use of such Bank

Data, and (iv) comply with Applicable Data Protection Laws . At a minimum the security measures shall include: implementing and maintaining

a written information security program; encrypting Bank Data in transit and at rest; procedures to detect and report potential Information

Security Incidents (as defined below); multifactor authentication controls when Bank Data is externally accessed; and, a process for regularly

testing, assessing, and evaluating the effectiveness of the information security program.

d.            Absent

the Bank’s prior written consent (which may be withheld in the Bank’s sole discretion) or as otherwise directed by the Bank

or as required for the performance of the Services, Bank Data shall not be (i) used, disclosed, monitored, analyzed, individualized,

anonymized, aggregated, stored, copied or otherwise provided to third parties by the Consultant or his Representatives, or (ii) sold,

assigned, or leased by the Consultant or his Representatives, or (iii) commercially exploited in any form (including any individualized,

anonymized or aggregated form) by or on behalf of the Consultant or his Representatives.

e.            The

Consultant shall at all times comply with all privacy, safety, security and data retention policies and procedures provided or communicated

by the Bank which policies and procedures which may be amended from time to time. Upon request, the Consultant will provide evidence reasonably

satisfactory to allow the Bank to confirm that the Consultant has satisfied its obligations as required under this paragraph.

f.            The

Consultant shall promptly notify the Bank in writing if the Consultant cannot comply with his obligations under this Section 7.

If this is the case, the Bank and the Consultant shall use their best efforts to remedy the situation. The Bank may, in its sole discretion

and without penalty of any kind to the Bank, suspend the transfer or disclosure of Bank Data to the Consultant or access to Bank Data

by the Consultant, terminate any further processing of Bank Data by the Consultant, and terminate the Agreement, if doing so is necessary

to comply with applicable privacy and security laws or is required or requested by a regulator or other governmental body.

g.            Any

determination regarding the applicability of privacy and security laws to any actual or threatened breach or compromise of the security,

confidentiality, or integrity of Bank Data and/or of Confidential Information (collectively: an “Information Security Incident”)

and the scope of the obligations pursuant to such laws shall be within the sole discretion of the Bank, and the Consultant shall comply

with any such determination.

h.            In

the event of an Information Security Incident, the Consultant will fully cooperate with the Bank to secure Bank Data. The Consultant shall

notify the Bank in writing within not more than forty-eight (48) hours following discovery of any Information Security Incident, which

notice shall include a detailed description of the circumstances of the disclosure and the parties involved. Consultant shall reimburse

the Bank for the cost of notification of all affected parties as well as reimbursement of any remedy to correct and mitigate the effect

of any such Information Security Incident, including at least one year of credit monitoring services to any affected party whose personal

or confidential data may have been compromised.

i.             The

content of any filings, communications, notices, press releases or reports related to any Information Security Incident must be approved

by the Bank prior to any publication or communication thereof. The Consultant agrees that the Bank retains the sole authority and discretion

to contact and involve law enforcement agencies in connection with an Information Security Incident when the decision whether to involve

such agencies is discretionary (that is, when no legal obligation, statutory or otherwise, requires one of the parties to contact law

enforcement). If the Bank elects to contact law enforcement agencies regarding an Information Security Incident, the Consultant agrees

to cooperate fully with such law enforcement agencies and any decision made by the Bank regarding the scope and goals of any investigation

undertaken by such agencies.

j.             The

Consultant will not transfer Bank Data across a country border or to an offshore location.

k.            The

Consultant hereby acknowledges that he is aware, and that he will advise any of his Representatives who receive Confidential Information,

that the United States securities laws prohibit any person who has received from an issuer material, nonpublic information from purchasing

or selling securities of such issuer (and options, warrants and rights relating thereto) or from communicating such information to any

other person under circumstances in which it is reasonably foreseeable that such person (including, without limitation, any of the Consultant’s

Representatives) is likely to purchase or sell such securities.

8. Access to Information Systems. Access

to Bank provided systems, including, but not limited to, computers, networks, databases, and servers owned, licensed or leased by the

Bank, or operated by a third party on behalf of the Bank (“Bank Systems”), whether onsite or online, is granted to

Consultant solely to perform Consultant’s duties and obligations under this Agreement, and is limited to those specific Bank Systems,

time periods and personnel as are separately agreed to by the Bank and the Consultant from time to time. Use of Bank Systems during other

time periods or by individuals not authorized by the Bank is expressly prohibited. Access is subject to the Bank’s business control

and information protection policies, standards and guidelines as may be modified from time to time and that are provided or communicated

to the Consultant. Use of any other Bank Systems is expressly prohibited. This prohibition applies even when a Bank System that Consultant

is authorized to access serves as a gateway to other Bank Systems outside the Consultant’s scope of authorization. The Consultant

agrees to access the Bank Systems only from specific locations approved for access by the Bank. For access outside of the Bank’s

premises, the Bank will designate the specific network connections to be used to access the Bank Systems.

9. Network Security. The Consultant shall

only connect to the Bank Systems through approved network connections (“Approved Connections”). The Consultant shall

use an Approved Connection only in accordance with all applicable security and other policies and procedures which the Bank implements

and may change from time to time that are provided or communicated to the Consultant by the Bank. The Consultant shall use his best efforts

to prevent all security breaches through the Approved Connections, implement stringent security procedures (including, but not limited

to, the ones set forth herein and in the Bank’s policies), and act immediately to address any non-approved methods of connection,

security breach, or exposure to hacking attempts. The right to connect to Bank Systems from external locations may be revoked at any time.

Minimum network security shall include:

a.            The

Consultant will allow only those of his Representatives approved in advance by the Bank (“Authorized Personnel”) to

access the Bank Systems. The Consultant shall be solely responsible for ensuring that Authorized Personnel are not security risks, and

upon the Bank’s request, the Consultant will provide the Bank with any information reasonably necessary for the Bank to evaluate

security issues relating to any Authorized Personnel.

b.            The

Consultant shall promptly notify the Bank contact communicated to the Consultant, whenever any Authorized Personnel: (i) leaves the

Consultant’s employ, (ii) such Authorized Personnel’s service relationship with the Consultant ends or (iii) such

Authorized Personnel’s service relationship with the Consultant no longer requires access to the Bank Systems. Additionally, the

Consultant shall immediately shut down all access to the Bank Systems for any Authorized Personnel no longer engaged by Consultant on

providing Services.

c.            Authorized

Personnel accessing the Bank Systems externally shall at a minimum do so through password protected systems, shall change passwords on

a regular basis (and no less frequently than every 30 days), shall never access the Bank Systems from a shared or public computer, device

or network, and shall follow all the Bank’s business control and information protection policies, standards and guidelines as may

be modified from time to time and that are provided or communicated to the Consultant.

10. No License or Transfer. The Confidential

Information shall at all times remain the property of the Bank. No license of any trade secrets, copyrights, patents or other rights is

granted by this Agreement or by any disclosure of Confidential Information.

11. Destruction/Return of Confidential Information.

Upon the Bank’s request, all Confidential Information (including all copies, extracts or other reproductions in whole or in part

thereof), whether in writing or stored or maintained in or by electronic, magnetic or other means, media or devices, shall be returned

or destroyed, so that no copy of the Confidential Information remains or can be accessed or restored in any way. In the event Confidential

Information is destroyed, the Consultant shall certify such destruction to the Bank.

12. Compelled Disclosure. Notwithstanding

anything to the contrary set forth herein, in the event that a Consultant or its Representatives are requested or become legally compelled

(by oral questions, interrogatories, request for information or documents, subpoena, civil investigative demand or similar process) to

disclose any of the Confidential Information or take any other action prohibited hereby, the Bank will be provided with prompt written

notice so that the Bank may seek a protective order or other appropriate remedy and/or waive compliance with the provisions of this Confidentiality

Agreement. In the event that such protective order or other remedy is not sought or obtained or that the compliance with the provisions

of this Confidentiality Agreement is waived, the Consultant agrees that it will furnish only that portion of the Confidential Information

which, in the reasonable opinion of its counsel, the Consultant is compelled to disclose without standing liable for contempt or suffering

other censure or penalty. The Consultant further agrees that it will exercise its best efforts to obtain reliable assurance that confidential

treatment will be accorded to that portion of the Confidential Information which subject to the compelled disclosure.

13. Audit. Consultant agrees that the Bank

shall have the right, from time to time, upon written notice to the Consultant, to conduct an investigation and audit of the Consultant’s

policies, procedures, books, records and accounts to verify compliance with the provisions of this Agreement, including without limitation,

provisions relating to confidentiality, privacy and security. The Consultant agrees to cooperate fully with such investigation, the method

of which shall be at the sole discretion of the Bank. Without limiting any other remedies at law or at equity, the Bank may, at the Bank’s

sole discretion, terminate this Agreement or suspend or remove any Consultant Representatives.

14. Indemnification. The Consultant agrees

to indemnify and hold harmless the Bank, and its affiliates, and its and their shareholders, directors, officers employees and agents

(collectively, the “Indemnified Parties”) from and against any and all costs and expenses (including without limitation

reasonable attorneys’ fees) incurred by or on behalf of any Indemnified Party arising out of any breach by the Consultant or any

of its Representatives of any provision of this Agreement.

15. Injunctive Relief. The Parties acknowledge

and agree that, in the event of any breach of this Agreement, the Bank might be irreparably harmed and unable to be made whole by monetary

damages. It is accordingly agreed that the Bank, in addition to any other remedy to which it may be entitled in law or equity, will be

entitled to seek an injunction to remedy breaches of this Agreement and/or to compel specific performance of this Agreement.

16. No Conflicting Obligations. The Consultant

represents that he is not a party to any agreement, and does not have any obligations, that conflict with his obligations under this Agreement.

17. Miscellaneous. This Agreement shall

be governed by, and construed and interpreted in accordance with, the laws of the Commonwealth of Pennsylvania, without respect to its

rules on the conflict of laws. The Consultant may not assign this Agreement, or any of his rights or obligations hereunder, without

the prior written consent of the Bank. This Agreement shall be binding upon the respective successors and permitted assigns of the Parties

and shall inure to the benefit of and be enforceable by the Parties and their respective successors and permitted assigns. In the event

that any term of this Agreement is held to be invalid, illegal, or unenforceable, such invalidity, illegality, or unenforceability shall

not affect any other portion of this Agreement, and there shall be deemed substituted therefor such term as will most fully realize the

intent of the Parties as expressed in this Agreement to the fullest extent permitted by applicable law, the Parties hereby declaring their

intent that this Agreement be construed in such fashion as to maintain its existence, validity and enforceability to the greatest extent

possible. This Agreement constitutes the entire understanding and agreement of the Parties respecting the subject matter hereof and supersedes

any and all prior agreements or arrangements, written or oral, between the Parties relating thereto. This Agreement may not be amended

or supplemented in any way except by a written document signed by the Party against whom such amendment or supplement is sought to be

enforced. The failure on the part of either Party to enforce, or any delay in enforcing, any right, power or remedy that such Party may

have under this Agreement shall not constitute a waiver of any such right, power or remedy, or release the other Party from any obligations

under this Agreement, except by a written document signed by the Party against whom such waiver or release is sought to be enforced. This

Agreement may be executed by the Parties in separate counterparts, and delivered by facsimile or other electronic means, each of which

when so executed and delivered shall be an original, but all such counterparts shall together constitute one and the same instrument.

[Signature page follows.]

IN WITNESS WHEREOF, the Parties have executed

this Agreement under their respective hands as of the day and year written.

BANK:

CONSULTANT:

Peoples Security Bank and Trust Company

By:

/s/

Gerard A. Champi

/s/ Thomas P. Tulaney

(signature)

Name: Gerard A. Champi

Name: Thomas P. Tulaney

Title: Chief Executive Officer

Date: March 27, 2026

Exhibit A

Services

Consultant shall provide senior advisory services

to the Bank and its employees, including but not limited to, consulting on strategic initiatives and operations, evaluating business opportunities,

assisting with high profile relationships and community and stakeholder engagement.

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+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

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Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

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Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

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Data Type:

xbrli:booleanItemType

Balance Type:

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

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Data Type:

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