On August 28, 2026, Peoples Financial Services Corp. (PFIS) disclosed that it, along with its subsidiary Peoples Security Bank and Trust Company and former President Thomas P. Tulaney, amended a Supplemental Executive Retirement Plan (SERP) originally signed in 2012. The amendment was prompted by the Bank purchasing an annuity contract to fund Mr. Tulaney's retirement benefits. Notably, if Mr. Tulaney outlives the 20-year benefit period under the annuity, the Bank will continue paying him a monthly amount equal to what the annuity would have provided, for the rest of his life.
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