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Citizens Holding Company - CIZN STOCK NEWS

Welcome to our dedicated page for Citizens Holding Company news (Ticker: CIZN), a resource for investors and traders seeking the latest updates and insights on Citizens Holding Company stock.

Citizens Holding Company (CIZN), headquartered in Philadelphia, Mississippi, is the parent company of The Citizens Bank of Philadelphia. Established over a century ago, The Citizens Bank of Philadelphia has consistently emphasized community banking, aiming to grow dreams and improve the regions it serves, stretching from Starkville to the Gulf Coast.

Focused on providing a comprehensive suite of financial services, the bank caters to individual and business clients with an array of products ranging from traditional deposit accounts to sophisticated loan options. Their offerings include personal and business banking, mortgages, online banking, and wealth management services.

Citizens Holding Company is committed to solid, planned growth, with a strategic vision that leverages its historical strength and stability. Recent achievements include expanding its digital banking capabilities and enhancing customer service through technological advancements and innovative financial solutions.

Financially, Citizens Holding Company is known for its robustness, demonstrated by a stable balance sheet and a disciplined approach to risk management. The company's financial health is further supported by its strategic partnerships and strong local ties, which contribute to its reputation as a trustworthy and reliable financial institution.

Through community-centric initiatives and a customer-first philosophy, Citizens Holding Company continues to make a significant impact in the areas it serves, fostering economic growth and enhancing the quality of life for its customers.

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Citizens Holding Company (OTCQX:CIZN) reported financial results for the three and six months ending June 30, 2024. Net income for Q2 2024 was $987K ($0.18 per share), a 65.59% decrease from Q1 2024. However, it marked a 228.93% increase over Q2 2023. Net income for the first half of 2024 totaled $3.86 million, up 167.73% from the same period in 2023.

Key Highlights:

  • Total Loans: Increased by 1.76% from Q1 2024 and 18.31% from Q2 2023, reaching $672.4 million.
  • Net Interest Margin: Rose to 2.56% in Q2 2024, up from 2.40% in Q1 2024.
  • Total Revenue: $40.4 million for the first half of 2024, a 50.63% increase from 2023.
  • Book Value: Increased by 2.30% from Q1 2024 and 16.23% from Q2 2023.

CEO Stacy Brantley highlighted strong loan growth and strategic balance sheet management as key drivers. The company also invested in securities and executed a $15M securities swap to hedge rising interest rates. Despite pressures on deposits, the company remains well-capitalized with a tier 1 leverage ratio of 7.16%.

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Citizens Holding Company (OTCQX:CIZN) has announced a quarterly dividend of $0.16 per share on its common stock, payable on June 28, 2024, to shareholders of record as of June 14, 2024. The dividend yield stands at approximately 8%, indicating a strong capital position and the company's commitment to returning value to its shareholders. CEO Stacy Brantley highlighted the importance of this dividend in reflecting the company's ongoing commitment to its investors.

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Citizens Holding Company (CIZN) reported strong financial results for the first quarter of 2024, with a significant increase in net income, total revenues, and non-interest income. The company's loans held for investment and total deposits also showed positive growth. CEO Stacy Brantley highlighted strategic transactions aimed at improving net interest income and balance sheet strength. Despite solid performance, the shift from non-interest bearing to interest-bearing deposits poses margin expansion challenges. Credit quality remained robust, with a decrease in non-performing assets. The company's liquidity and capital position are strong, with reliance on wholesale funding. Overall, Citizens Holding Company demonstrated resilience and strategic focus in a challenging banking environment.
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Citizens Holding Company reported strong financial performance in the first quarter of 2024, with a significant increase in net income and total revenues. The company's net income rose to $2,868, or $0.51 per share, a substantial improvement from the previous quarter. Total revenues reached $21,213, driven by a one-time gain on a sale-leaseback transaction. Loans held for investment increased, reflecting the company's strong liquidity position. Credit quality remained solid, with a decrease in non-performing assets. The CEO highlighted strategic transactions to enhance net interest income and balance sheet stability. Despite challenges in margin expansion due to shifting deposit trends, the company anticipates continued growth and value creation for shareholders.
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Citizens Holding Company (CIZN) declares a quarterly dividend of $0.16 per share, with a dividend yield of approximately 8%. The dividend is payable on March 29, 2024, to shareholders of record as of March 14, 2024, showcasing the company's commitment to value return.
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Citizens Holding Company (CIZN) announced a net loss for the three months ended December 31, 2023, with a decrease in net income compared to the same period in 2022. Despite this, there was an increase in total revenues, primarily due to an increase in interest income attributed to loan growth and higher interest rates. The company's loan growth, credit metrics, and strong capital position are highlighted, but net interest income and noninterest income have seen decreases. The CEO expressed optimism about the company's strategic restructuring and balance sheet repositioning to add long-term value for shareholders.
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Citizens Holding Company (CIZN) has executed an agreement for the sale-leaseback of 3 properties, expecting to realize a pre-tax gain of approximately $4.5 million. The transaction closed on January 19, 2024, with an aggregate cash purchase price of $11 million. The CFO emphasized the positive impact on the company's balance sheet, future growth plans, and value realization.
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Citizens Holding Company (CIZN) to Voluntarily Delist from NASDAQ and Deregister Common Stock
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Citizens Holding Company (CIZN) declares a quarterly dividend of $0.16 per share on its common stock, reflecting a dividend yield of approximately 6%. CEO Stacy Brantley emphasizes the company's commitment to returning value to shareholders amidst persistent earnings headwinds and a focus on repositioning the balance sheet for improved profitability and managing interest rate risk.
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Citizens Holding Company announces Q3 2023 results with net income of $1,207, a linked-quarter increase of 302.33%. Total revenues increase by 19.27% due to rising interest rates. Loans held for investment increase by 2.18%. NPAs decrease by 4.13%. CEO expects deposit costs to rise slightly.
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FAQ

What does Citizens Holding Company do?

Citizens Holding Company is the parent company of The Citizens Bank of Philadelphia, offering a range of financial services to individuals and businesses.

Where is Citizens Holding Company located?

Citizens Holding Company is based in Philadelphia, Mississippi, with The Citizens Bank of Philadelphia having locations across Mississippi.

What services does The Citizens Bank of Philadelphia provide?

The bank provides personal and business banking, mortgages, online banking, and wealth management services.

How long has The Citizens Bank of Philadelphia been in operation?

The bank has been serving communities for over a century.

What is Citizens Holding Company's approach to growth?

Citizens Holding Company focuses on solid, planned growth, leveraging its historical strength and stability.

How does Citizens Holding Company contribute to the community?

The company emphasizes community banking, aiming to grow dreams and improve the regions within its footprint through various initiatives.

Is Citizens Holding Company financially stable?

Yes, Citizens Holding Company maintains a stable balance sheet and employs a disciplined approach to risk management.

What recent achievements has Citizens Holding Company made?

Recent achievements include expanding digital banking capabilities and enhancing customer service through technological advancements.

What is the strategic vision of Citizens Holding Company?

The company aims for future growth leveraging its strength, stability, and strong local ties to provide innovative financial solutions.

How can I stay updated with the latest news about Citizens Holding Company?

You can stay updated with the latest news and developments by visiting financial news websites or the company's official website.

Citizens Holding Company

OTC:CIZN

CIZN Rankings

CIZN Stock Data

44.13M
4.75M
17.53%
0.95%
0.89%
Commercial Banking
Finance and Insurance
Link
United States of America
Philadelphia