Citizens Community Bancorp (NASDAQ: CZWI) holders outline plans with 9.1% stake
Rhea-AI Filing Summary
Amendment No. 3 to a Schedule 13D reports that a group of individual investors, including Gale Hoese and Andrew, Jill, David, Denise and Joseph Schornack, Jonathan Hoese, Tamara Retka and Noah Retka, beneficially own 878,472.49 shares of Citizens Community Bancorp common stock, or 9.1% of the class, as of July 7, 2026.
They state they acquired the shares for investment, believe the stock is undervalued relative to intrinsic value, long-term earnings potential and franchise value, and describe themselves as experienced community banking operators who see attractive deposit-gathering, credit discipline and regional market positioning in Wisconsin and Minnesota.
The group may buy or sell additional shares and is engaging with management and the board. On July 27, 2026 they discussed potential changes to board composition, including adding their nominees, and they may later propose governance, capitalization, ownership-structure or extraordinary transactions such as a merger, business combination, recapitalization or restructuring.
Positive
- None.
Negative
- None.
Filing Explained
The amendment narrows the group’s current position: apart from the
Key Figures
Beneficial ownership: 878,472.49 shares
Percent of class: 9.1%
Sole voting power – Gale Hoese: 700,000.00 shares
+4 more
7 metrics
Beneficial ownership
878,472.49 shares
Aggregate shares of CZWI common stock beneficially owned by the group of reporting persons
Percent of class
9.1%
Portion of Citizens Community Bancorp common stock represented by the group’s beneficial ownership
Sole voting power – Gale Hoese
700,000.00 shares
CZWI shares over which Gale Hoese has sole voting and dispositive power
Sole voting power – Andrew Schornack
21,048.00 shares
CZWI shares over which Andrew Schornack has sole voting and dispositive power
Sole voting power – Jill Schornack
13,952.00 shares
CZWI shares over which Jill Schornack has sole voting and dispositive power
Sole voting power – David Schornack
84,573.49 shares
CZWI shares over which David Schornack has sole voting and dispositive power
Date of event
07/27/2026
Date of the event that required filing of Amendment No. 3 to the Schedule 13D
Key Terms
beneficially owned, sole voting power, sole dispositive power, extraordinary transactions, +2 more
6 terms
beneficially owned regulatory
"Aggregate amount beneficially owned by each reporting person 878,472.49"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
sole voting power regulatory
"Number of Shares Beneficially Owned by Each Reporting Person With: 7 | Sole Voting Power"
Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.
sole dispositive power regulatory
"9 | Sole Dispositive Power 700,000.00"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
extraordinary transactions financial
"possibility of one or more extraordinary transactions such as a merger"
recapitalization financial
"such as a merger, business combination, recapitalization, restructuring"
Recapitalization is a deliberate change to a company's mix of debt and equity—how much it borrows versus how much is funded by shareholders—accomplished by issuing or repaying debt, buying back shares, or issuing new shares. It matters to investors because it alters the company's risk profile, potential returns and cash flow stability: increasing debt can amplify returns but raises the chance of financial stress, while adding equity can dilute ownership but lower default risk—like swapping between a mortgage and savings to reshape household finances.
intrinsic value financial
"believe the shares are undervalued relative to the Issuer's intrinsic value"
Intrinsic value is the true or actual worth of an asset based on its fundamental qualities, such as its income-generating ability or underlying assets, rather than its current market price. It helps investors determine whether an asset is overvalued or undervalued by comparing its real worth to its market value, much like estimating the true value of a used car beyond its sticker price based on its condition and history.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What stake in Citizens Community Bancorp (CZWI) do the reporting persons hold?
The reporting persons collectively beneficially own 878,472.49 shares of Citizens Community Bancorp common stock, representing 9.1% of the outstanding class as of July 7, 2026, according to Amendment No. 3 to their Schedule 13D filing.
Who are the main reporting persons in the Citizens Community Bancorp (CZWI) Schedule 13D/A?
The group includes Gale and Jonathan Hoese; Andrew, Jill, David, Denise and Joseph Schornack; and Tamara and Noah Retka. Each reports individual voting and dispositive power over specific share amounts, while sharing the same aggregate beneficial ownership figure.
What is the stated purpose of the CZWI investment by the reporting persons?
They state they acquired CZWI shares for investment purposes and believe the stock is undervalued relative to intrinsic value, earnings potential and franchise value. They intend to support the bank’s growth and long-term shareholder value using their community banking experience.
What potential board changes are being discussed at Citizens Community Bancorp (CZWI)?
On July 27, 2026, certain reporting persons discussed with CZWI management possible changes to board composition, including adding one or more directors nominated by them. They expect to continue this dialogue and may propose further changes to board size, terms or vacancies.
Could the CZWI reporting persons pursue mergers or other strategic transactions?
Yes. They specifically reference the possibility of extraordinary transactions, including a merger, business combination, recapitalization, restructuring or other strategic transaction involving CZWI, although they state they currently have no definitive plans and reserve flexibility on future actions.
As of what date is the Citizens Community Bancorp (CZWI) ownership information current?
The beneficial ownership information is stated as of July 7, 2026. The reporting persons note there has been no material change in this information since then that would itself require a further amendment to their Schedule 13D statement.