Peoples Financial Services Corp. announced it has completed a repositioning of its investment securities portfolio by selling approximately $78.6 million in lower-yielding U.S. treasury bonds and using the proceeds to purchase about $38.2 million in U.S. agency mortgage-backed securities and $37.9 million in discounted municipal bonds. The newly acquired securities have a higher average yield, and the move is expected to increase interest income by about $2.8 million over the next 12 months.
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