PFIS — what changed in the latest 10-Q
A section-by-section comparison of PFIS's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-08 vs the prior 10-Q · 2025-11-10
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +54 | −67 | ~23 | 16 |
| Market risk (Item 3) | Text added/removed | +3 | −2 | ~6 | 2 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-08
The Company has goodwill with a net carrying value of $76.0 million at both March 31, 2026 and December 31, 2025. The Company's policy is to test goodwill for impairment annually on December 31 or on an interim basis if an event triggering impairment may have occurred. If the Company’s carrying amou…
Total assets increased $152.8 million, or 11.8 percent annualized to $5.4 billion at March 31, 2026, from $5.3 billion at December 31, 2025. The increase in the balance sheet was primarily due to increases in loans and cash and cash equivalents, partially offset by a decrease in investment securitie…
Total deposits decreased $8.7 million to $4.4 billion at March 31, 2026, from $4.4 billion at December 31, 2025. Interest-bearing deposits decreased $23.5 million to $3.5 billion at March 31, 2026, compared to $3.5 billion at December 31, 2025. Noninterest-bearing deposits increased $14.8 million to…
Total stockholders’ equity increased $5.7 million from $519.8 million at year-end 2025 to $525.5 million at March 31, 2026, due largely to net income, partially offset by dividends paid to shareholders and an increase in accumulated other comprehensive loss resulting from an increase in the unrealiz…
The majority of the investment portfolio is classified as available for sale, which provides greater flexibility in using the investment portfolio for liquidity purposes by allowing securities to be sold when market opportunities occur. Investment securities available for sale totaled $469.3 million…
Text removed vs the prior filing · source: 10-Q · 2025-11-10
Assets acquired and liabilities assumed in business combinations are measured at fair value as of the acquisition date. In many cases, determining the fair value of the assets acquired and liabilities assumed requires the Company to estimate the timing and amount of cash flows expected to result fro…
The Company has goodwill with a net carrying value of $76.0 million at both September 30, 2025 and December 31, 2024. The Company's policy is to test goodwill for impairment annually on December 31 or on an interim basis if an event triggering impairment may have occurred. If a reporting unit’s carr…
Total assets increased $68.0 million, or 1.8% annualized, from December 31, 2024, and totaled $5.2 billion at September 30, 2025. The increase in assets during the nine months is primarily due to increases in cash and cash equivalents, loans, and investments and securities. Cash and cash equivalents…
Deposits decreased $117.8 million to $4.3 billion at September 30, 2025, from $4.4 billion at December 31, 2024, primarily due to the redemption of brokered deposits, combined with seasonal outflows of municipal funds. Interest-bearing deposits decreased $94.3 million to $3.4 billion compared to $3.…
Total short-term borrowings at September 30, 2025, were $76.3 million, an increase of $60.4 million from $15.9 million at December 31, 2024. Long term debt increased $38.4 million to $137.0 million at September 30, 2025 from $98.6 million at December 31, 2024. Subordinated debentures increased $50.1…
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-05-08
Our interest rate risk position at March 31, 2026 exhibits an asset-sensitive profile. Rising interest rates present the greatest benefit to net interest income, as asset yields reprice higher more quickly while increases in deposit costs lag. Conversely, a sustained falling rate environment—particu…
Our simulation model creates pro forma net interest income scenarios under various interest rate shocks. Given instantaneous and parallel shifts in general market rates of plus 100 basis points, our projected net interest income for the 12 months ending March 31, 2027, would increase 3.9 percent fro…
Additional disclosures about market risk are included in Part II, Item 7A., “Quantitative and Qualitative Disclosures About Market Risk,” of our Annual Report on Form 10-K for the year ended December 31, 2025, and is incorporated into this Item 3 by reference.
Text removed vs the prior filing · source: 10-Q · 2025-11-10
Our interest rate risk position exhibits a relatively well-matched position to both rising and falling interest rate environments in the first twelve months of the simulation while a sustained falling rate and parallel downward shifting yield curve presents the greatest potential risk to NII over th…
Our simulation model creates pro forma net interest income scenarios under various interest rate shocks. Given instantaneous and parallel shifts in general market rates of plus 100 basis points, our projected net interest income for the 12 months ending September 30, 2025, would decrease 0.1% from m…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice