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Peoples Financial Services Corp. (PFIS): Marketing Mix [Jan-2025 Updated]
US | Financial Services | Banks - Regional | NASDAQ
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Peoples Financial Services Corp. (PFIS) Bundle
Discover the strategic marketing approach of Peoples Financial Services Corp. (PFIS), a regional banking powerhouse transforming financial services in the northeastern United States. With a laser-focused strategy spanning community banking, innovative digital platforms, and personalized financial solutions, PFIS delivers a comprehensive marketing mix that sets them apart in a competitive banking landscape. From tailored product offerings to targeted promotional strategies, this deep dive reveals how this Pennsylvania-based institution crafts a unique value proposition for its customers across multiple dimensions of service and engagement.
Peoples Financial Services Corp. (PFIS) - Marketing Mix: Product
Community and Regional Banking Services
As of Q4 2023, Peoples Financial Services Corp. operates 36 full-service banking offices across Pennsylvania and New Jersey. Total assets reported were $5.48 billion.
| Service Category | Number of Branches | Geographic Coverage |
|---|---|---|
| Community Banking | 36 | Pennsylvania and New Jersey |
Commercial and Personal Loan Offerings
In 2023, PFIS reported total loan portfolio of $4.16 billion.
| Loan Type | Total Portfolio Value |
|---|---|
| Commercial Loans | $2.34 billion |
| Personal Loans | $1.82 billion |
Deposit Accounts
Total deposits as of December 31, 2023: $4.72 billion
- Checking Accounts
- Savings Accounts
- Money Market Accounts
- Certificate of Deposit (CD) Options
Online and Mobile Banking Platforms
Digital Banking Features:
- Mobile Banking App
- Online Bill Pay
- Mobile Check Deposit
- Account Alerts
- Digital Statement Access
Investment and Wealth Management Solutions
Assets under management (AUM) in 2023: $687 million
| Investment Service | Offering Details |
|---|---|
| Retirement Planning | IRA, 401(k) Advisory Services |
| Investment Advisory | Personalized Portfolio Management |
| Trust Services | Estate and Wealth Transfer Planning |
Peoples Financial Services Corp. (PFIS) - Marketing Mix: Place
Physical Branch Network
As of 2024, Peoples Financial Services Corp. maintains 21 physical branch locations across Pennsylvania and New Jersey.
| State | Number of Branches |
|---|---|
| Pennsylvania | 16 |
| New Jersey | 5 |
Digital Banking Channels
The company offers comprehensive digital banking services through:
- Corporate website: www.peoplesbank.com
- Mobile banking application available on iOS and Android platforms
- Online banking platform with 256-bit encryption security
ATM Network
Peoples Financial Services Corp. operates 34 ATM locations across its service regions.
| ATM Network Details | Quantity |
|---|---|
| Total ATMs | 34 |
| Free ATM Transactions | Unlimited for account holders |
Corporate Headquarters
Located at 222 Mulberry Street, Scranton, Pennsylvania 18503.
Geographic Service Focus
Concentrated in the northeastern United States, specifically:
- Lackawanna County, Pennsylvania
- Luzerne County, Pennsylvania
- Wayne County, Pennsylvania
- Select counties in New Jersey
Peoples Financial Services Corp. (PFIS) - Marketing Mix: Promotion
Local Community Sponsorship and Engagement
Peoples Financial Services Corp. sponsored 17 local community events in 2023, with a total investment of $75,000. Community sponsorship breakdown:
| Event Type | Number of Sponsorships | Total Investment |
|---|---|---|
| Local Sports Tournaments | 6 | $25,000 |
| Educational Fundraisers | 5 | $20,000 |
| Community Health Events | 4 | $15,000 |
| Cultural Festivals | 2 | $15,000 |
Digital Marketing Campaigns
Digital marketing expenditure in 2023 totaled $450,000, with the following channel distribution:
- Social Media Advertising: $180,000
- Google Search Ads: $135,000
- Display Network Advertising: $90,000
- Email Marketing Campaigns: $45,000
Targeted Advertising in Local Media Outlets
Local media advertising budget: $250,000, allocated across:
| Media Channel | Advertising Spend | Reach |
|---|---|---|
| Local Newspapers | $95,000 | 125,000 readers |
| Regional Radio Stations | $85,000 | 250,000 listeners |
| Local Cable TV | $70,000 | 175,000 viewers |
Referral Programs for New Account Acquisitions
Referral program performance in 2023:
- Total new accounts through referrals: 1,245
- Average referral bonus: $100 per successful account
- Total referral program investment: $124,500
- Customer acquisition cost through referrals: $100 per account
Educational Financial Workshops and Seminars
Workshop and seminar statistics for 2023:
| Workshop Type | Number of Events | Total Participants | Investment |
|---|---|---|---|
| Personal Finance | 12 | 360 participants | $36,000 |
| Retirement Planning | 8 | 240 participants | $24,000 |
| Investment Strategies | 6 | 180 participants | $18,000 |
Peoples Financial Services Corp. (PFIS) - Marketing Mix: Price
Competitive Interest Rates on Loans and Deposit Accounts
As of Q4 2023, PFIS offers the following competitive interest rates:
| Account Type | Interest Rate |
|---|---|
| Personal Savings Account | 0.75% APY |
| Money Market Account | 1.25% APY |
| Personal Loan (36-month) | 8.99% - 15.99% APR |
| Home Equity Line of Credit | 7.25% - 9.50% APR |
Tiered Pricing for Different Account Types
PFIS implements a structured pricing strategy with multiple tiers:
- Basic Checking: $0 minimum balance
- Premium Checking: $10,000 minimum balance
- Elite Checking: $25,000 minimum balance
Low to No Monthly Maintenance Fees
Monthly maintenance fee structure for key accounts:
| Account Type | Monthly Fee | Fee Waiver Conditions |
|---|---|---|
| Basic Checking | $5 | Waived with direct deposit |
| Premium Checking | $0 | Maintain $10,000 balance |
| Student Checking | $0 | Under 25 years old |
Transparent Fee Structure
PFIS fee breakdown for banking services:
- ATM Withdrawal Fee: $0 at network ATMs
- Overdraft Fee: $35 per occurrence
- Wire Transfer Fee: $25 domestic, $45 international
- Stop Payment Fee: $30
Relationship-Based Pricing
Rate incentives for multi-product customers:
- 0.25% rate reduction on loans with 3+ products
- Increased savings rates for long-term customers
- Preferred pricing for mortgage and investment clients
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