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. (NASDAQ: CZFS), parent company of First Citizens Community Bank, regularly publishes unaudited quarterly and annual financial results and related updates. This news page aggregates those releases so readers can review how the company’s commercial banking operations, loan portfolio and deposit base evolve over time.
In its press releases, the company highlights net income, net interest income, net interest margin, and the provision for credit losses, along with key ratios such as return on average equity, return on average assets and measures of non-performing assets. Management commentary explains how factors like investment income, interest expense, economic forecasts and changes in past due or non-accrual loans influence these results.
News items also cover balance sheet trends, including total assets, loans, deposits, available-for-sale securities and stockholders’ equity. Citizens Financial Services, Inc. reports on developments such as the acquisition of HV Bancorp, Inc., the sale of assets associated with the Braavo online lending platform, and subsequent activity related to Braavo-originated loans. These disclosures show how acquisitions, dispositions and credit performance affect provisions, charge-offs and non-performing asset levels.
In addition, the company announces dividend declarations, noting quarterly cash dividend amounts, record dates and payment dates, and discusses the impact of bank owned life insurance, gains or losses on equity securities, and other non-interest income and expense items. Investors following CZFS news can use this page to track recurring themes in earnings, credit quality, capital, and shareholder returns, and to reference the latest management updates accompanying each reporting period.
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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.