Citizens Fincl S Stock Price, News & Analysis

Citizens Financial Services (Nasdaq: CZFS) announced its uplisting to the Nasdaq Capital Market, effective June 3, 2022. This strategic move is expected to boost liquidity, improve access to capital, and enhance shareholder value. CEO Randall Black highlighted that this uplisting coincides with the company's 150th anniversary and reflects its growth, with 2021 results showing $2.1 billion in assets, $1.8 billion in deposits, and record net income of $29.1 million.

Citizens Financial Services, parent of First Citizens Community Bank, reported unaudited financial results for Q1 2022, showing a net income of $6.7 million, down 20.4% from Q1 2021. The decrease was attributed to life insurance proceeds received in 2021 and reduced loan amortization. Net loan growth reached $36.9 million, representing 10.4% annualized growth. Non-performing assets decreased to $8.9 million. The company plans to list its stock on the Nasdaq Capital Market and declared a cash dividend of $0.475 per share, up 3.26% from last year.

Citizens Financial Services, Inc (OTCPink: CZFS) has filed an initial application to list its common stock on the Nasdaq Capital Market. CEO Randall Black expressed optimism about the listing, emphasizing that it could enhance the company's access to capital, increase trading volume, and enable better acquisition strategies. The application is subject to review and approval, and a future press release will detail the approval status and listing target date. Citizens Financial operates through First Citizens Community Bank, with assets totaling $2.2 billion and 31 offices across Pennsylvania, Delaware, and New York.

Citizens Financial Services, parent of First Citizens Community Bank, reported a net income of $29.1 million for 2021, reflecting a 16.0% increase from 2020, with basic earnings per share of $7.38. However, net income for Q4 2021 was $6.9 million, a 3.9% decline year-over-year. Total assets rose to $2.14 billion, while the loan-to-deposit ratio fell to 78.51%. Non-performing assets decreased to $8.8 million, representing 0.61% of total loans. A cash dividend of $0.470 per share was declared, marking a 3.10% increase from the previous year.

The Board of Directors of Citizens Financial Services has declared a cash dividend of $0.47 per share, payable on December 30, 2021, to shareholders of record as of December 16, 2021. This represents a 3.2% increase over the previous year's dividend of $0.456 per share, adjusted for a 1% stock dividend in June 2021. The bank holding company, with assets of $2.05 billion, operates 30 offices across Pennsylvania, Delaware, and New York.

Citizens Financial Services, Inc. (CZFS) reported net income of $22.2 million for the first nine months of 2021, a 24% increase from the prior year. For Q3, net income fell 11.8% to $7.1 million. Net interest income rose by 7.9% to $49.2 million. Non-performing assets decreased to $10.2 million, representing 0.71% of loans. The company declared a cash dividend of $0.470 per share, a 3.10% increase from last year. Despite a strong nine-month performance, Q3 results showed declines in key metrics like earnings per share and return on equity.

Citizens Financial Services reported strong financial results for the six months ended June 30, 2021, with net income rising 53.1% to $15.1 million. Basic earnings per share increased to $3.83 from $2.64 year-on-year. Net interest income before loan losses was $32.7 million, an 11.9% increase. Non-performing assets also decreased to $10.9 million, representing 0.77% of loans. The company declared a cash dividend of $0.465 per share, a 3.20% increase from the prior year. Assets grew to $2 billion, primarily due to the MidCoast acquisition.

Citizens Financial Services (CZFS) reported unaudited financial results for Q1 2021, showcasing a net income of $8.5 million, an 86.8% increase from Q1 2020. The company benefitted from the MidCoast Community Bancorp acquisition, with net interest income rising 27.6% to $16.4 million. Non-performing assets decreased to $12.8 million. Return on average equity reached 17.25%. The bank issued 227 PPP loans totaling $18.5 million and enhanced its capital position, with total assets now $2 billion. A dividend of $0.465 per share was declared, marking a 3.31% increase year-over-year.

Citizens Financial Services announced the completion of a private placement of $10 million in subordinated notes with a fixed rate of 4.00% due April 16, 2031. The notes, which qualify as Tier 2 capital, will initially pay a fixed interest rate until April 16, 2026, after which the rate will reset quarterly. Proceeds are intended for general corporate purposes, including growth funding and potential acquisitions. The issuance is not registered under the Securities Act, restricting its sale.