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.
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.
Citizens Financial Services, Inc. (CZFS) announced a cash dividend of $0.465 per share, payable on March 23, 2021, to shareholders of record as of March 12, 2021. This reflects a 3.31% increase from last year's regular dividend of $0.450 per share, adjusted for a prior 1% stock dividend. The bank holding company, valued at $1.95 billion, operates through First Citizens Community Bank across Pennsylvania, Delaware, and New York. CEO Randall E. Black highlighted the commitment to shareholder returns despite challenges posed by the COVID-19 pandemic.
The Board of Directors of Citizens Financial Services declared a cash dividend of $0.46 per share, payable on September 25, 2020, to shareholders of record by September 11, 2020. This represents a 3.33% increase over the previous year’s dividend of $0.445, adjusted for a 1% stock dividend in June 2020. CEO Randall E. Black noted the bank's strong financial performance amidst the COVID-19 pandemic, reaffirming the commitment to return value to shareholders. Citizens Financial Services, operating as a bank holding company, manages assets of $1.85 billion across 30 offices.