Citizens Financial (NASDAQ: CZFS) details Q1 2026 earnings, assets and credit ratios

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Citizens Financial Services, Inc. filed an 8-K to furnish its first quarter 2026 investor presentation, outlining recent performance and balance sheet metrics. As of March 31, 2026, the company reported assets of $3.03 billion, gross loans of $2.30 billion, and deposits of $2.44 billion.

For the quarter, diluted EPS was $2.16 and net income was $10.4 million. The presentation highlights a net interest margin of 3.72% compared with 3.69% in the prior quarter, and an efficiency ratio of 54.98% versus 54.03%. Core return on average assets was 1.34% and core return on average tangible common equity was 16.15%.

Credit quality data show a nonperforming assets to assets ratio of 1.33% versus 0.95% previously, and nonperforming loans to gross loans of 1.64% versus 1.14%. A non-GAAP reconciliation indicates a tangible common equity to tangible assets ratio of 8.70% and tangible book value per share of $53.23 as of March 31, 2026.

8-K Event Classification

2 items: 7.01, 9.01

2 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Total assets: $3.03 billion Gross loans: $2.30 billion Total deposits: $2.44 billion +5 more

8 metrics

Total assets $3.03 billion As of March 31, 2026

Gross loans $2.30 billion As of March 31, 2026

Total deposits $2.44 billion As of March 31, 2026

Diluted EPS $2.16 Quarter ended March 31, 2026

Net income $10.4 million Quarter ended March 31, 2026

Net interest margin 3.72% Q1 2026 vs. 3.69% prior quarter

NPAs / Assets 1.33% Compared with 0.95% in prior quarter

Tangible book value per share $53.23 As of March 31, 2026 (non-GAAP)

Key Terms

Net interest margin, Core ROAA, Core ROATCE, Efficiency Ratio, +2 more

6 terms

Net interest margin financial

"Net Interest Margin 3.72% vs. 3.69%"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

Core ROAA financial

"Core ROAA (1) 1.34% vs. 1.37%"

Core ROATCE financial

"YTD Return on Average Tangible Common Equity 16.15%(3)"

Efficiency Ratio financial

"Efficiency Ratio 54.98% vs. 54.03%"

A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.

Nonperforming assets financial

"NPAs / Assets Ratio 1.33% vs. 0.95%"

Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.

Tangible common equity financial

"Tangible common equity $190,258 $211,084 $250,072"

Tangible common equity is the portion of a company’s net worth that belongs to ordinary shareholders after removing intangible items (like goodwill or patents) and any preferred claims; it’s often expressed on a per-share basis. Think of it as the hard, sellable value left for common owners if you removed non-physical assets and paid off debts—investors use it to judge how much real cushion a company has and whether the stock might be under- or over-valued.

Understanding 8-K Material Events →

04/29/2026 - 07:00 AM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 29, 2026

CITIZENS FINANCIAL SERVICES INC

(Exact name of registrant as specified in its charter)

Pennsylvania		001-41410		23-2265045
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

15 S MAIN ST MANSFIELD, Pennsylvania		16933
(Address of principal executive offices)		(Zip code)

Registrant's telephone number, including area code (570) 662-0444

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, Par Value $1.00 Per Share	CZFS	NASDAQ Capital Market

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter):

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01. Regulation FD Disclosure.

Citizens Financial Services, Inc. (the “Company”) intends to use the materials furnished herewith in one or more meetings with investors beginning on April 30, 2026. A copy of the investor presentation is furnished hereto as Exhibit 99.1 and is hereby incorporated by reference herein.

The information contained in this Item 7.01, including Exhibit 99.1 attached hereto, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor shall such information or exhibit be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d)

Exhibits


Exhibit Number		Description

99.1		First Quarter 2026 Investor Presentation

104		Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	CITIZENS FINANCIAL SERVICES, INC.

DATE: April 29, 2026
	By:	/s/ Stephen J. Guillaume
		Stephen J. Guillaume Chief Financial Officer

19 21 65 59 74 150 0 113 186 83 84 84 248 157 56 Investor Presentation 1st Quarter 2026 Financial information

Legal Disclosures Forward-Looking Statements (p. 1 of 2) We have made forward-looking statements in this document, and in documents that we incorporate by reference, that are subject to risks and uncertainties. Forward-looking statements include information concerning possible or assumed future results of operations of the Company, the Bank, First Citizens Insurance or the Company on a consolidated basis. When we use words such as “believes,” “expects,” “anticipates,” or similar expressions, we are making forward-looking statements. Forward-looking statements may prove inaccurate. For a variety of reasons, actual results could differ materially from those contained in or implied by forward-looking statements: •Interest rates could change more rapidly or more significantly than we expect. •The economy could change significantly in an unexpected way, which would cause the demand for new loans and the ability of borrowers to repay outstanding loans to change in ways that our models do not anticipate. •The financial markets could suffer a significant disruption, which may have a negative effect on our financial condition and that of our borrowers, and on our ability to raise money by issuing new securities. •It could take us longer than we anticipate implementing strategic initiatives, including expansions, designed to increase revenues or manage expenses, or we may be unable to implement those initiatives at all. •Acquisitions and dispositions of assets and companies could affect us in ways that management has not anticipated. •We may become subject to new legal obligations or the resolution of litigation may have a negative effect on our financial condition or operating results. •We may become subject to new and unanticipated accounting, tax, regulatory or compliance practices or requirements. Failure to comply with any one or more of these requirements could have an adverse effect on our operations. •We could experience greater loan delinquencies than anticipated, adversely affecting our earnings and financial condition. •We could experience greater losses than expected due to the ever increasing volume of information theft and fraudulent scams impacting our customers and the banking industry. •We could lose the services of some or all of our key personnel, which would negatively impact our business because of their business development skills, financial expertise, lending experience, technical expertise and market area knowledge.

Legal Disclosures Forward-Looking Statements (p. 2 of 2) •The agricultural economy is subject to extreme swings in both the costs of resources and the prices received from the sale of products as a result of weather, government regulations, international trade agreements and consumer tastes, which could negatively impact certain of our customers. •Loan concentrations in certain industries could negatively impact our results, if financial results or economic conditions deteriorate. •Companies providing support services related to the exploration and drilling of the natural gas reserves in our market area may be affected by federal, state and local laws and regulations such as restrictions on production, permitting, changes in taxes and environmental protection, which could negatively impact our customers and, as a result, negatively impact our loan and deposit volume and loan quality. Additionally, the activities the companies providing support services related to the exploration and drilling of the natural gas reserves may be dependent on the market price of natural gas. As a result, decreases in the market price of natural gas could also negatively impact these companies, our customers. Additional factors are discussed in this Annual Report on Form 10-K under “Item 1A. Risk Factors.” These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made and the Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date of the forward-looking statements or to reflect the occurrence of unanticipated events. Accordingly, past results and trends should not be used by investors to anticipate future results or trends.

About Citizens Financial Services, Inc.

Company Profile Lines of Business Retail Banking Commercial and Agricultural Consumer Fee Businesses Retail Banking with 43 branches and 29 ATMs Mobile & Online Banking C&I Lending SBA and USDA Lending Treasury Management Card & Payment Services Business Banking Home Lending Personal Lending Indirect Auto Lending Secured & Unsecured Consumer Loans Retail Plan Admin / Custody Services Business, Personal, & Life Insurance Institutional Life Insurance Brokerage & Advisory Services Trust Services Financial Highlights Assets: $3.03B Gross Loans: $2.30B Deposits: $2.44B YTD Return on Average Assets: 1.34% YTD Return on Average Tangible Common Equity : 16.15%(3) Company Overview (1) Market Cap as of April 23, 2026 (2) Branches & Employees data as of April 22, 2026 (3) Please see appendix for non-GAAP reconciliations Note: Holding Company data shown; Data as of March 31, 2026 Headquarters Mansfield, PA Founded 1872 Chartered 1932 Ticker NASDAQCM: CZFS Market Cap(1) $313.2 Branches(2) 43 Employees(2) 371 FT – 37 PT Institutional Ownership 29.22% 3 Mo. ADTV 8,789 52 Week H/L $69.58 / $49.99 Chairman R. Joseph Landy CEO, President & Vice Chairman Randall E. Black Executive VP & CFO Stephen J. Guillaume

Financial Highlights (1) Please see appendix for non-GAAP reconciliations MRQ – Highlights - YTD Profitability Balance Sheet Credit 2026Q1 vs. 2025Q4 March 31, 2026 Diluted EPS $2.16 Diluted EPS $2.16 Net Income $10.4M Net Income $10.4 M Core ROATCE 16.15% Core ROATCE(1) 16.15% Net Interest Margin 3.72% vs. 3.69% Core ROAA (1) 1.34% vs. 1.37% YTD Core ROAA(1) 1.34% vs. 1.37% Efficiency Ratio 54.98% vs. 54.03% Total Assets $3.0B (1.2%) Growth – Excluding student loan activity 0.99% growth Total Loans and Leases $2.3B (2.4%) Growth – Excluding brokered deposit growth 0.5% growth Total Deposits $2.4B 2.7% Growth – Excluding brokered deposit growth 0.5% growth NPAs / Assets Ratio 1.33% vs. 0.95% NPLs / Gross Loans Ratio 1.64% vs. 1.14% Reserves / NPLs Ratio 60.7% vs. 85.0%

Experienced Leadership Executive Title Years of Banking Experience Joined FCCB Randall E. Black Vice Chairman, President & CEO 32 1993 Stephen J. Guillaume Executive VP & CFO 16 2009 David Z. Richards Jr. Sr Executive VP & Board Director 48 2017 Jeffrey L. Wilson Sr Executive VP & Chief Credit Officer 38 1987 LeeAnn Gephart Executive VP & Chief Banking Officer 19 2021 Jeffrey R White Executive VP & COO 8 2024

Investment Highlights Long history of creating shareholder value and operating successfully Tenured management with strong track record of operating high value companies Experienced, disciplined and prudent acquirer Strong geographic diversification presents opportunities Steady record of high profitability Diversity of interest earning assets Long-term focus on shareholder returns

Citizens Financial Services, Inc. has continually been ranked one of the top 100 best performing community banks in the nation. This ranking is based on a 3-year ROAE. Our 2012 performance ranked us as number ONE in the nation. We also continue to be ranked in the top 100 Ag lenders nationwide and PA. In 2022 FCCB was included in the ABA Nasdaq Community Bank Index – an indication of our progress and leadership capabilities in the market. FCCB maintains its "Bank On" Certification (awarded 2022), a national standard promoted by the CFE Fund, validating our commitment to providing safe, affordable, and accessible banking accounts for all. Recognized for our dedication to serving military families. FCCB is also a proud participant in the Veterans Benefits Banking Program (VBBP), ensuring safe and accessible banking for veterans. First Citizens Community Bank (FCCB) has been honored with the Federal Home Loan Bank of Pittsburgh's (FHLBank) 2025 Pillars of the Community Award. This is FHLBank's highest organizational honor 2025 and 2024: FCCB was recognized by Newsweek and Plant-A Insights Group as one of the top regional banks in the U.S. This distinction is based on a rigorous evaluation of profitability, financial relevance, risk exposure, and customer metrics. A Recognized High Performer

Business & Financial Highlights

Key Financial Highlights Top Tier Consolidated

Liquidity Position and Sources Note: Bank level regulatory data shown Liquidity Well-Managed to Cover Short-Term Needs

Deposit Mix Deposit Mix Analysis Note: Bank level regulatory data shown

Loan Portfolio Mix Loan Type Analysis Note: Bank level regulatory data shown

History of Successful Growth Total Asset Growth since 2000 ($000) Note: Dollars in thousands

Consistent & Attractive Returns Historical Core ROAA (1) & ROATCE (1) (1) Please see appendix for non-GAAP reconciliations

History of Strong Asset Quality Historical NPAs/Assets Trends NCOs/Avg Loans: 0.03% 0.00% 0.03% 0.11% 0.03% 0.01% Annualized

Note: Financial and transaction value shown as of announcement of transaction Successful Track Record of Prudent Acquisitions Transaction: FNB of Fredericksburg MidCoast Community Bancorp, Inc. HV Bancorp, Inc. Total Whole Bank Acquisitions Since January 1, 2015 Geography: Fredericksburg, PA Wilmington, DE Doylestown, PA -- Date Closed: 12/11/2015 4/17/2020 6/16/2023 -- Locations: 7 3 12 22 Purchase Price: Cash & Stock: $23.0 million Cash & Stock: $29.5 million Cash & Stock: $67.9 million -- Target Assets ($M): $232 $269 $571 $1,072 Target Loans ($M): $146 $231 $391 $769 Target Deposits ($M): $214 $213 $482 $909 CZFS Acquisitions since January 1, 2015

appendix

Non-GAAP Reconciliation – Tangible Book Value For the Twelve Months Ended, For the Quarter Ended, Dollars in thousands 12/31/2023 12/31/2024 12/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 Total common equity $279,666 $299,734 $338,051 $313,653 $327,682 $338,051 $343,578 Total intangible assets 89,408 88,650 87,979 88,288 88,132 87,979 87,831 Tangible common equity $190,258 $211,084 $250,072 $225,365 $239,550 $250,072 $255,747 Total assets $2,975,321 $3,025,724 $3,064,564 $2,967,274 $3,056,269 $3,064,564 $3,026,478 Total intangible assets 89,408 88,650 87,979 88,288 88,132 87,979 87,831 Tangible assets $2,885,913 $2,937,074 $2,976,585 $2,878,986 $2,968,137 $2,976,585 $2,938,647 Accumulated other comprehensive gain (loss) income ($24,911) ($23,521) ($12,377) ($21,026) ($14,650) ($12,377) ($14,682) TCE / TA 6.59% 7.19% 8.40% 7.83% 8.07% 8.40% 8.70% TCE / TA (Excl. AOCI) 7.46% 7.99% 8.82% 8.56% 8.56% 8.82% 9.20% Tangible Book Value Per Share $39.63 $43.91 $52.02 $46.88 $49.83 $52.02 $53.23

Non-GAAP Reconciliation

Source: View Original Filing on SEC EDGAR

FAQ

What did Citizens Financial Services (CZFS) disclose in its latest 8-K?

Citizens Financial Services furnished a first quarter 2026 investor presentation via 8-K. It provides updated figures on assets, loans, deposits, earnings, margins, capital, and credit quality, helping investors understand recent operating performance and balance sheet trends.

What were Citizens Financial Services’ key profitability metrics for Q1 2026?

For Q1 2026, Citizens Financial Services reported diluted EPS of $2.16 and net income of $10.4 million. Core return on average assets was 1.34%, while core return on average tangible common equity reached 16.15%, reflecting the bank’s underlying profitability profile.

How large is Citizens Financial Services’ balance sheet as of March 31, 2026?

As of March 31, 2026, Citizens Financial Services reported total assets of $3.03 billion, gross loans of $2.30 billion, and deposits of $2.44 billion. These figures show the scale of the bank’s lending and funding base at the end of the quarter.

What do Citizens Financial Services’ Q1 2026 credit quality ratios show?

The investor presentation shows a nonperforming assets to assets ratio of 1.33% versus 0.95% previously. Nonperforming loans to gross loans were 1.64% versus 1.14%, and reserves to nonperforming loans stood at 60.7% compared with 85.0% in the prior quarter.

What is Citizens Financial Services’ net interest margin for Q1 2026?

Citizens Financial Services reported a net interest margin of 3.72% for the first quarter of 2026, compared with 3.69% in the prior quarter. Net interest margin measures the spread between interest income on earning assets and interest paid on funding sources.

What capital and tangible book metrics did Citizens Financial Services report?

A non-GAAP reconciliation shows tangible common equity to tangible assets of 8.70% as of March 31, 2026. Tangible book value per share was $53.23. These measures help investors assess Citizens Financial Services’ capital strength and per-share underlying tangible equity.

Filing Exhibits & Attachments

4 documents

Press Releases

EX-99.1 FIRST QUARTER 2026 INVESTOR DECK 36.2 KB