Welcome to our dedicated page for Citizens Fincl S news (Ticker: CZFS), a resource for investors and traders seeking the latest updates and insights on Citizens Fincl S stock.
Citizens Financial Services Inc (CZFS) operates as a Pennsylvania-chartered bank and trust company providing comprehensive financial solutions. This news hub offers investors and stakeholders centralized access to official updates across all business operations.
Track critical developments through verified press releases covering quarterly earnings, regulatory filings, leadership changes. Discover updates on lending programs, trust services, and community banking initiatives that demonstrate the company's market position.
Key content categories include financial results, product launches, strategic partnerships, and compliance updates. All materials are sourced directly from company communications to ensure accuracy and timeliness.
Bookmark this page for streamlined monitoring of CZFS's evolving services in commercial banking, mineral rights services, and retirement planning solutions. Regular updates provide essential insights for informed financial analysis.
Citizens Financial Services, Inc. (NASDAQ: CZFS) announced it has gained necessary regulatory approvals from the Pennsylvania Department of Banking and Securities and the Federal Reserve for its acquisition of HV Bancorp, Inc. (HVBC). The transaction is expected to close on June 16, 2023, pending customary conditions. Shareholders of HVBC will receive election materials during the week of May 8, 2023, allowing them to select their form of consideration. Citizens Financial, a bank holding company with $2.3 billion in assets, operates through First Citizens Community Bank, which has 33 offices across Pennsylvania, Delaware, and New York. This strategic acquisition aims to enhance market presence and improve operational efficiencies.
Citizens Financial Services, Inc. (Nasdaq: CZFS) reported its unaudited financial results for 2022, showing net income of $29.1 million, a slight decline of 0.2% compared to 2021. The company opened two new branches in 2022 and plans to open another in 2023. Net loan growth reached $282.2 million or 19.8%, while non-performing assets decreased to $7.5 million. The return on average equity was 12.98%, down from 14.26% in 2021. Net interest income increased by 9.1% to $72.1 million, yet total non-interest income fell by 21% to $9.7 million. A cash dividend of $0.480 per share was declared, reflecting a 3.13% increase.
Citizens Financial Services, Inc. (CZFS) has declared a cash dividend of $0.48 per share, marking a 3.1% increase from last year's $0.465 per share dividend. The dividend is payable on December 30, 2022 to shareholders of record by the close of business on December 16, 2022. The company, with a market cap of $2.30 billion, operates First Citizens Community Bank across Pennsylvania, Delaware, and New York. President and CEO Randall Black emphasized the bank's commitment to shareholder trust and financial resilience.
Citizens Financial Services, Inc. (Nasdaq: CZFS) reported its financial results for the three and nine months ending September 30, 2022. The company announced plans to acquire HV Bancorp, expected to close in early 2023. Net income for the nine-month period was $21.2 million, down 4.5% from the previous year, while net income for Q3 increased 6.8% to $7.5 million. Net loan growth was strong at $295.4 million year-to-date, representing a 27.7% annualized increase. Non-performing assets decreased to 0.47%. A quarterly cash dividend of $0.480 per share was declared, reflecting a 3.13% increase.
Citizens Financial Services and HV Bancorp announced a definitive agreement for HVBC to merge into CZFS. HVBC shareholders can choose $30.50 cash or 0.400 shares of CZFS stock, with a total transaction value of approximately $67.4 million. This merger aims to enhance CZFS's presence in Pennsylvania, Delaware, and New Jersey. Post-merger, the combined assets are expected to exceed $2.78 billion. The merger, approved by both companies' boards, is anticipated to complete in the first half of 2023, pending regulatory and shareholder approvals.
Citizens Financial Services, Inc. (CZFS) declared a cash dividend of $0.48 per share, payable on September 30, 2022. Shareholders recorded by the close of business on September 16, 2022 will receive this dividend, reflecting a 3.1% increase from last year’s $0.465, adjusted for a 1% stock dividend in June 2022. The company's President, Randall Black, stated that the uplisting to the Nasdaq Capital Market supports their growth and commitment to rewarding shareholders.
Citizens Financial Services, Inc. (Nasdaq: CZFS) reported its unaudited financial results for the six months ended June 30, 2022, showing net income of $13.6 million, a 9.7% decline from the previous year, mainly due to prior life insurance proceeds and lower loan sale gains amid rising mortgage rates. The bank experienced a net loan growth of $116.7 million for Q2 and $153.6 million year-to-date, marking a 21.6% annualized increase. Non-performing assets decreased to $8.36 million, with a 0.52% ratio of total loans. A dividend of $0.475 per share was declared, up 3.20% from last year.
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