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Citizens Financial Services, Inc. - CZFS STOCK NEWS

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

Citizens Financial Services Inc is a Pennsylvania-chartered bank and trust company. The company through its banking subsidiary provides banking activities and services for individual, business, governmental, and institutional customers. Its activities and services principally include checking, savings, and time deposit accounts; residential, commercial and agricultural real estate, commercial and industrial, state and political subdivision, and consumer loans; and a variety of other specialized financial services. The Trust and Investment division of the Bank offers a full range of client investment, estate, mineral management, and retirement services.

Our goal is to support the growth of the communities we serve. After all, community is in our name. We have a knack for hiring the finest and brightest employees and understand how fostering their growth builds loyalty, impacting customer service. Our employees are our strongest asset. So, we accommodate families, invest in their future, and recognize hard work. Quality customer service is of the utmost importance to our staff, focusing on carefully chosen initiatives that provide customers with the ability to own their home, send their children to college, and retire in comfort. As the number one mortgage lender in the northern tier of Pennsylvania, we provide unmatched service and experience, overcoming obstacles that stand in the way of customer satisfaction. Customer surveys consistently show 99% of customers would recommend us to their family and friends.

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Citizens Financial Services, Inc. reported unaudited first quarter 2024 financial results, with a net income of $7.0 million, a 2.3% increase from 2023. The company benefited from the sale of assets acquired in an acquisition, generating a pre-tax gain of $1.1 million. Net interest income increased by 15.9% due to the acquisition. However, non-performing assets increased, and total $15.7 million as of March 31, 2024. The company's return on equity and assets decreased compared to the prior year. Total assets were $2.92 billion as of March 31, 2024.
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Citizens Financial Services, Inc. (CZFS) released its unaudited consolidated financial results for Q4 2023, showing net income of $17.8 million, 38.7% lower than 2022 due to merger costs and credit loss provisions. The effective tax rate for 2023 was 17.2%, compared to 18.1% in 2022. The company's total assets were $2.98 billion at December 31, 2023, compared to $2.33 billion at December 31, 2022.
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Citizens Financial Services, Inc. (Nasdaq: CZFS) reported unaudited full year and fourth quarter 2023 financial results. The acquisition of HV Bancorp, Inc. contributed significant growth to net interest income in the second half of 2023. However, net income for 2023 was 38.7% lower than 2022 due to one-time merger and acquisition costs and the provision for credit losses. The return on average equity and assets also decreased compared to 2022. The company's total non-interest expenses increased by 45.0% in 2023, primarily due to merger and acquisition costs. Despite the increase in assets, the company observed an increase in non-performing loans and loans past due 30-89 days. However, the company declared a cash dividend of $0.49 per share, reflecting a 3.1% increase over the previous year.
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Citizens Financial Services, Inc. releases unaudited financial results for Q3 2023, including the impact of the acquisition of HV Bancorp. Net income for the first nine months of 2023 decreased by 51.5% compared to the same period in 2022 due to merger costs. Return on average equity and assets also decreased. Net interest income increased by 10.5% compared to last year. Provision for credit losses increased by $3.9 million. Non-interest expenses increased by 48.39% due to merger costs and salary/benefit increases.
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Citizens Financial Services completes merger with HV Bancorp and Huntingdon Valley Bank
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FAQ

What services does Citizens Financial Services Inc offer?

Citizens Financial Services Inc provides banking activities and services for individual, business, governmental, and institutional customers. They also offer specialized financial services and full client investment, estate, mineral management, and retirement services.

What makes Citizens Financial Services Inc unique?

Citizens Financial Services Inc focuses on hiring the finest employees and fostering their growth to build loyalty and impact customer service. They concentrate on customer service initiatives that allow customers to own homes, send children to college, and retire comfortably.

Why is customer service important to Citizens Financial Services Inc?

Customer service is crucial to Citizens Financial Services Inc because they believe in providing customers with the ability to achieve homeownership, education for their children, and a comfortable retirement. They consistently aim for high customer satisfaction levels.

Is Citizens Financial Services Inc involved in community support?

Yes, Citizens Financial Services Inc supports the growth of the communities they serve. They invest in their employees, accommodate families, and recognize hard work, believing the community is an essential aspect of their business.

What is the significance of the trust and investment division at Citizens Financial Services Inc?

The Trust and Investment division at Citizens Financial Services Inc offers a full range of client investment, estate, mineral management, and retirement services, providing a comprehensive suite of financial solutions.

How does Citizens Financial Services Inc cater to customer needs?

Citizens Financial Services Inc concentrates on providing customers with the ability to own their homes, send their children to college, and retire in comfort. As the top mortgage lender in the northern tier of Pennsylvania, they overcome obstacles for customer satisfaction.

What sets Citizens Financial Services Inc apart from other financial institutions?

Citizens Financial Services Inc differentiates itself by focusing on exceptional customer service, hiring the finest employees, and fostering their growth to build loyalty and ensure customer satisfaction.

What is the mission of Citizens Financial Services Inc?

Citizens Financial Services Inc aims to support the growth of the communities they serve by providing high-quality banking services, specialized financial offerings, and comprehensive investment and trust solutions for their customers.

How does Citizens Financial Services Inc prioritize customer satisfaction?

Citizens Financial Services Inc prioritizes customer satisfaction by offering carefully chosen customer service initiatives that enable customers to achieve homeownership, education for their children, and a comfortable retirement.

Why do customers recommend Citizens Financial Services Inc?

Customers recommend Citizens Financial Services Inc due to their commitment to outstanding customer service, focus on fostering employee growth, and dedication to helping customers achieve their financial goals.

What type of financial services does Citizens Financial Services Inc offer?

Citizens Financial Services Inc offers a wide range of financial services, including banking activities, loans for individuals, businesses, governments, and institutions, specialized financial services, and full client investment, estate, mineral management, and retirement services.

Citizens Financial Services, Inc.

Nasdaq:CZFS

CZFS Rankings

CZFS Stock Data

239.75M
4.75M
6.25%
23.29%
0.45%
Commercial Banking
Finance and Insurance
Link
United States of America
MANSFIELD