UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 8-K

(X)     CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report - July 15, 2004




PEOPLES FINANCIAL SERVICES CORP.
(Exact Name of Registrant as Specified in its Charter)




PENNSYLVANIA
000-23863
23-2931852
(State or Other Jurisdiction of
Incorporation or Organization)		 (Commission File
Number)		 (I.R.S. Employer
Identification Number)


50 Main Street, Hallstead, PA 18822
(Address of Principal Executive Officer)
(570) 879-2175
(Registrant's telephone number, including area code)


N/A
(Former Name or Former Address, if changed since last report)
Item 1.      Changes in Control of Registrant    
                  Not Applicable 
                    
Item 2.      Acquisition or Disposition of Assets  
                  Not Applicable 
                    
Item 3.      Bankruptcy or Receivership  
                  Not Applicable 
                    
Item 4.      Changes in Registrant's Certifying Accountant  
                  Not Applicable 
                    
Item 5.      Other Events  
                   Registrant files this Current Report on Form 8K to submit a copy of Registrant's Press Release of
                   Peoples Financial Services Corp., dated July 15, 2004, regarding second quarter earnings		  
Item 6.      Resignations of Registrant's Directors  
                  Not Applicable 
                    
Item 7.      Financial Statements and Exhibits  
                  (a)     Not Applicable.   
                  (b)     Not Applicable.   
                  (c)     Exhibit:   
                             99       Press Release of Peoples Financial Services Corp. dated July 15, 2004, regarding
                                         second quarter earnings announcement.		   
                    
Item 8.      Change in Fiscal Year  
                  Not Applicable 
                    
Item 9.      Regulation FD Disclosure  
                  Not Applicable 

SIGNATURES

             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, thereunto duly authorized.

PEOPLES FINANCIAL SERVICES, CORP.
(Registrant)




  /s/ Debra E. Dissinger  
Dated July 15, 2004  By Debra E. Dissinger 
   Executive Vice President 

EXHIBIT INDEX

    Page Number  
    in Manually 
Exhibit    Signed Original

 
     99  Press Release of Peoples Financial Services  3 
  Corp. dated July 15, 2004. 

EXHIBIT 99

Peoples Financial Services Corp Announces Second Quarter Earnings

Net income for the quarter ending June 30, 2004, was $891,000 compared to $1,278,000 in the same period in 2003. For the 6 month period ended June 30, 2004, net income was $2,188,000 compared to $2,572,000 for the same six-month period in 2003, a decrease of 14.9%.

The decrease in earnings for the second quarter of 2004 is the result of a provision for possible loan loss which was booked in May 2004 due to a bankruptcy proceeding entered into by a corporate loan customer.

Balance sheet highlights are as follows:

June 30, 2004
 June 30, 2003
Total Assets   $ 383,853,000   $ 363,631,000  
Total Deposits  $ 285,169,000   $ 271,183,000  
Total Loans  $ 236,340,000   $ 225,847,000  

Peoples Financial Services Corp is the parent company of Peoples National Bank, an independent community bank with offices in the Hallstead Plaza, Hop Bottom, Susquehanna, and Montrose in Susquehanna County and in Nicholson, Tunkhannock, and Meshoppen in Wyoming County and Conklin, Broome County NY.

This press release contains certain forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. Such factors include the possibility that increased demand for prices for the Company’s financial services and products may not occur, changing economic, interest rate and competitive conditions, technological developments, and other risks and uncertainties including those detailed in the Company’s filings with the Securities and Exchange Commission.