You may have peanut butter with 7-10% of hydrogenated oil. In my local stores in Switzerland we only find those, we ended up making it ourself.
The local grocer has a machine with a hopper full of peanuts. Push the button and it squirts out peanut butter into your container. It's cheaper, too, than the jarred peanut butter. No downsides there!
Gray area. Peanut butter that is not from 100% peanuts is definitely processed food.