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Citizens Community Bancorp (CZWI) delivers community-focused banking services through branches across Wisconsin, Minnesota, and Michigan. This news hub provides investors and stakeholders with timely updates on financial developments, strategic initiatives, and market positioning.
Access comprehensive coverage of earnings reports, regulatory filings, and leadership updates alongside analysis of CZWI's core banking activities. Track developments in agricultural lending programs, commercial real estate financing, and deposit product innovations that drive this regional institution's growth.
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Citizens Community Bancorp (Nasdaq: CZWI) reported earnings of $4.0 million ($0.38/share) for Q3 2022, down from $4.4 million ($0.41/share) in Q2 2022 and $5.0 million ($0.47/share) in Q3 2021. Year-to-date earnings totaled $13.1 million ($1.24/share), compared to $15.2 million ($1.41/share) in the same period last year. Net interest income rose by $0.2 million to $14.5 million, driven by loan growth. However, total non-interest expense increased to $11.3 million. The bank struggled with declining book value due to unrealized losses. Key metrics include a net interest margin of 3.33%.
Citizens Community Bancorp (Nasdaq: CZWI) reported Q2 2022 earnings of $4.4 million or $0.41 per diluted share, down from $4.7 million or $0.45 in Q1 2022. Year-to-date earnings were $9.1 million ($0.86 per share), a decrease from $10.2 million ($0.94) in the same period last year. Net interest income rose $1.1 million from Q1 to $14.3 million. Loan growth was strong at 18% annualized, but demand has softened due to economic pressures. The efficiency ratio improved to 60%.
Citizens Community Bancorp reported first-quarter 2022 earnings of $4.7 million or $0.45 per diluted share, down from $6.1 million or $0.58 in Q4 2021. Key factors for the decrease include a $1 million drop in loan interest income, primarily from reduced SBA PPP fees, and a $0.9 million decline in securities sales. Total assets rose to $1.78 billion, while book value per share fell to $15.72. The company also issued $35 million in subordinated debt and injected $15 million into its banking subsidiary to strengthen capital ratios.
Citizens Community Bancorp reported record earnings of $6.1 million or $0.58 per diluted share for the fourth quarter of 2021, up from $5.0 million or $0.47 per share the previous quarter. Fiscal 2021 earnings surged by 67% to $21.3 million, compared to $12.7 million in 2020. Key drivers included increased loan interest income and reduced deposit costs. Book value per share rose to $16.27, a 12.1% annual increase. However, total assets slightly declined to $1.74 billion, and nonperforming assets increased to $13.2 million.
Citizens Community Bancorp (CZWI) reported record earnings of $5.0 million for Q3 2021, translating to $0.47 per diluted share, an increase from $4.7 million ($0.44 per diluted share) in Q2 2021 and $3.5 million ($0.31 per diluted share) in Q3 2020. Year-to-date earnings reached $15.2 million, up 66% from $9.2 million in 2020. Key drivers include increased loan interest income, modest growth in net interest income, and improved asset quality. However, nonperforming assets rose to $12.1 million from $8.8 million in the prior quarter, primarily due to a single commercial real estate loan.
Citizens Community Bancorp, Inc. (CZWI) reported second-quarter earnings of $4.7 million ($0.44 per diluted share), down from $5.5 million ($0.50 per share) in Q1 2021, but up from $3.1 million ($0.28 per share) in Q2 2020. Year-to-date earnings reached $10.2 million, an 80% increase from the previous year. The company approved a 5% stock repurchase plan, and tangible book value rose by 15.9% year-over-year to $11.95 per share. Total assets decreased by $17.8 million to $1.71 billion. Nonperforming assets fell 6% to $8.8 million, demonstrating improved asset quality.
Citizens Community Bancorp, Inc. (CZWI) reported record earnings of $5.5 million or $0.50 per diluted share for Q1 2021, up from $3.6 million ($0.32) in Q4 2020 and $2.6 million ($0.23) in Q1 2020. Adjusted net income was $5.6 million or $0.51 per diluted share. Key highlights included no loan loss provisions due to improved asset quality, a decrease in non-interest expenses, and an 11% year-over-year increase in book value per share to $14.75. The bank's nonperforming assets fell 19% this quarter. Total assets increased to $1.73 billion.
Citizens Community Bancorp, Inc. (Nasdaq: CZWI) announced that Steve Bianchi, Chairman and CEO, and Jim Broucek, CFO, will hold virtual meetings with institutional investors on May 6-7, 2021, hosted by D.A. Davidson. Discussion materials will be available on the Company's investor website by May 6, 2021. The Bank serves customers in Wisconsin and Minnesota, operating 25 branches and providing community banking services including residential mortgage loans.
Citizens Community Bancorp reported Q4 2020 earnings of $3.6 million ($0.32 per diluted share), up from $3.5 million ($0.31 per diluted share) in Q3 2020 and $3.2 million ($0.28 per diluted share) in Q4 2019. Annual earnings reached $12.7 million ($1.14 per diluted share), compared to $9.5 million ($0.85 per diluted share) in 2019. Key highlights include a 13% increase in tangible book value per share to $11.18, a decrease in nonperforming assets by 23%, and a dividend increase of 10% to $0.23 per share. The provision for loan losses rose to $2.5 million due to organic loan growth and economic uncertainties.
Citizens Community Bancorp reported earnings of $3.5 million ($0.31 per share) for the quarter ended September 30, 2020, an increase from $3.1 million ($0.28 per share) in the previous quarter. Adjusted net income was $3.3 million ($0.30 per share), up from $2.8 million ($0.25 per share). The company saw lower net interest income due to loan portfolio reductions but benefited from high mortgage loan sales. Book value per share increased to $14.10, reflecting a 7% annualized growth. Non-performing assets decreased significantly, indicating improved asset quality. However, COVID-19-related loan loss provisions increased.
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