Family investor group in Citizens Community Bancorp (CZWI) reports 9.1% stake

Rhea-AI Filing Summary

A group of individual investors led by Gale Hoese filed Amendment No. 2 to a Schedule 13D reporting a significant stake in Citizens Community Bancorp, Inc. common stock. As of July 7, 2026, they may be deemed to beneficially own 878,472.49 shares, or 9.1% of the 9,644,112 shares outstanding as of May 6, 2026.

Within the group, Hoese holds 700,000 shares, while other members, including Andrew and Jill Schornack and related family members, hold smaller positions. The filing details numerous recent open‑market purchases in early July 2026 at prices mainly around $23–$24 per share, highlighting active accumulation of CZWI stock.

Insights

Banking equity and ownership structure analyst

Schedule 13D/A shows a coordinated 9.1% stake built via recent open-market buying.

The filing indicates a group of related investors collectively holding 878,472.49 Citizens Community Bancorp shares, or 9.1% of the company. This crosses typical disclosure thresholds and signals a concentrated outside ownership position in the bank.

Gale Hoese is the principal holder with 700,000 shares, while family members and associates own additional amounts. Item 5(c) lists numerous recent open-market purchases in July 2026 around the low-$20s, including a single 273,379-share buy by Noah Retka at $23.20.

The filing does not in this excerpt detail any specific plans or proposals, so its impact depends on any future actions this group may take with a near-10% stake. Subsequent disclosures or corporate communications would clarify whether this remains passive ownership or evolves into more active involvement.

Key Figures

Aggregate beneficial ownership: 878,472.49 shares Ownership percentage: 9.1% of common stock Shares outstanding: 9,644,112 shares +4 more

7 metrics

Aggregate beneficial ownership 878,472.49 shares Group stake in Citizens Community Bancorp as of July 7, 2026

Ownership percentage 9.1% of common stock Based on 9,644,112 shares outstanding as of May 6, 2026

Shares outstanding 9,644,112 shares Citizens Community Bancorp common shares outstanding as of May 6, 2026

Gale Hoese holdings 700,000 shares Largest reporting person’s Citizens Community Bancorp stake

Noah Retka large purchase 273,379 shares at $23.20 Open-market purchase on July 6, 2026

Jonathan Hoese holdings 40,000 shares Citizens Community Bancorp shares held by Jonathan Hoese

David Schornack holdings 84,843.49 shares Includes 270 shares held JTWROS with Denise Schornack

Key Terms

Schedule 13D, beneficially own, sole Voting Power, sole Dispositive Power, +2 more

6 terms

Schedule 13D regulatory

"This Amendment No. 2 amends and supplements the originally filed by the Reporting Persons with the Securities and Exchange Commission"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

beneficially own financial

"the Reporting Persons may be deemed to beneficially own an aggregate of 878,472.49 shares of the Common Stock"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

sole Voting Power financial

"Number of Shares Beneficially Owned by Each Reporting Person With: | 7 | Sole Voting Power 700,000.00"

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 financial

"Number of Shares Beneficially Owned by Each Reporting Person With: | 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.

JTWROS financial

"Includes 270 owned by David Schornack and Denise Schornack as JTWROS."

open market purchases financial

"Except for the open market purchases or sales of the Issuer's Common Stock described below"

Open market purchases are buys of a company’s shares (or other securities) made on public exchanges at prevailing market prices rather than through private deals. For investors this matters because when a company buys back its own stock it reduces the number of shares available, which can boost per-share earnings and often signals management’s confidence; it also affects supply, demand and short-term liquidity much like someone quietly buying up items from a crowded marketplace.

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Available on EDGAR 07/08/2026 - 04:07 PM Accepted by SEC EDGAR 07/08/2026 - 04:07 PM Learn about SEC filing dates

FAQ

What stake in CZWI does the Schedule 13D/A report?

The Amendment No. 2 to Schedule 13D reports that the group of investors may be deemed to beneficially own 878,472.49 shares of Citizens Community Bancorp, Inc., representing 9.1% of the 9,644,112 common shares outstanding as of May 6, 2026.

Who is the largest reporting holder of Citizens Community Bancorp (CZWI) shares?

Within the reporting group, Gale Hoese is the largest holder with 700,000 Citizens Community Bancorp common shares. Other group members, including Andrew and Jill Schornack and several relatives, each hold smaller individual positions that together comprise the disclosed 878,472.49-share stake.

How many Citizens Community Bancorp shares were outstanding for the 9.1% figure?

The 9.1% beneficial ownership figure is based on 9,644,112 Citizens Community Bancorp common shares outstanding as of May 6, 2026. That outstanding share count comes from the company’s Form 10-Q for the quarter ended March 31, 2026, referenced in the filing.

What recent CZWI stock purchases are disclosed in this Schedule 13D/A amendment?

The filing lists multiple open-market purchases in early July 2026. Transactions include numerous buys by Gale Hoese around $23–$24 per share and a large purchase by Noah Retka of 273,379 shares at $23.20, plus smaller trades by Jonathan Hoese and Joseph Schornack.

Which group members besides Gale Hoese hold Citizens Community Bancorp shares?

Other reporting persons include Andrew and Jill Schornack, David and Denise Schornack, Jonathan Hoese, Tamara and Noah Retka, and Joseph Schornack. Their individual holdings range from several thousand shares to 84,843.49 shares, collectively contributing to the 878,472.49-share position.

Does the CZWI Schedule 13D/A amendment describe any specific plans or proposals?

The excerpt focuses on ownership levels and recent open-market transactions, amending Item 5 to restate beneficial ownership and trading history. It does not in this section outline specific plans, proposals, or intended actions by the reporting persons regarding Citizens Community Bancorp.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 2)

Citizens Community Bancorp, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

174903104

(CUSIP Number)

Andrew Schornack
7525 Office Ridge Circle,
Eden Prairie, MN, 55344
(952) 944-6050

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

07/07/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 174903104

1

Name of reporting person

Gale Hoese

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 700,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 700,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

878,472.49

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.1 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 174903104

1

Name of reporting person

Andrew Schornack

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 21,048.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 21,048.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

878,472.49

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.1 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 174903104

1

Name of reporting person

Jill Schornack

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 13,952.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 13,952.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

878,472.49

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.1 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 174903104

1

Name of reporting person

David Schornack

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 84,573.49
8	Shared Voting Power 270.00
9	Sole Dispositive Power 84,573.49
10	Shared Dispositive Power 270.00

11

Aggregate amount beneficially owned by each reporting person

878,472.49

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.1 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 174903104

1

Name of reporting person

Denise Schornack

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,305.00
8	Shared Voting Power 270.00
9	Sole Dispositive Power 1,305.00
10	Shared Dispositive Power 270.00

11

Aggregate amount beneficially owned by each reporting person

878,472.49

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.1 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 174903104

1

Name of reporting person

Jonathan Hoese

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 40,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 40,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

878,472.49

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.1 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 174903104

1

Name of reporting person

Tamara Retka

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 8,312.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 8,312.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

878,472.49

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.1 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 174903104

1

Name of reporting person

Noah Retka

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 5,500.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 5,500.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

878,472.49

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.1 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 174903104

1

Name of reporting person

Joseph Schornack

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 3,512.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 3,512.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

878,472.49

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.1 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock
(b)	Name of Issuer: Citizens Community Bancorp, Inc.
(c)	Address of Issuer's Principal Executive Offices: 2174 EastRidge Center, Eau Claire, WISCONSIN , 54701.
Item 1 Comment: This Amendment No. 2 (this "Amendment No. 2") amends and supplements the Schedule 13D originally filed by the Reporting Persons with the Securities and Exchange Commission on June 4, 2026 and amended by an Amendment No. 1 filed by the Reporting Persons with the Securities and Exchange Commission on June 29, 2026 (collectively, the "Statement"). Unless otherwise defined herein, capitalized terms used in this Amendment No. 2 shall have the meanings ascribed to them in the Statement. Unless amended or supplemented below, the information in the Statement remains unchanged.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 of the Statement is hereby amended and restated in its entirety as follows: Row 4 of each Reporting Person's cover page to this Amendment No. 2 is incorporated herein by reference.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5 of the Statement is hereby amended and restated in its entirety as follows: (a) The information set forth in the cover pages and Item 3 of this Amendment No. 2 are incorporated herein by reference. As of July 7, 2026, the Reporting Persons may be deemed to beneficially own an aggregate of 878,472.49 shares of the Common Stock, which represents 9.1% of the 9,644,112 shares of Common Stock outstanding as of May 6, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 filed with the Securities and Exchange Commission on May 6, 2026. Of the 878,472.49 shares of Common Stock that may be deemed to be beneficially owned by the Reporting Persons, the ownership of each Reporting Person is as follows as of July 7, 2026: Name of Reporting Person Number of Shares Gale Hoese 700,000 Andrew Schornack 21,048 Jill Schornack 13,952 David Schornack(1) 84,843.49 Denise Schornack(1) 1,575 Jonathan Hoese 40,000 Tamara Retka 8,312 Noah Retka 5,500 Joseph Schornack 3,512 (1) Includes 270 owned by David Schornack and Denise Schornack as JTWROS.
(b)	Rows 7 through 10 of each Reporting Person's cover page to this Amendment No. 2 set forth the number of shares of Common Stock as to which such Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition and are incorporated by reference.
(c)	Except for the open market purchases or sales of the Issuer's Common Stock described below, none of the Reporting Persons has effected any transactions with respect to the securities of the Issuer since the Statement. Gale Hoese Date Shares Purchased Price Per Share July 7, 2026 1,000 $23.20 July 7, 2026 5,000 $23.18 July 7, 2026 4,000 $23.18 July 7, 2026 5,000 $23.18 July 7, 2026 5,000 $23.25 July 7, 2026 5,000 $23.25 July 7, 2026 5,000 $23.25 July 7, 2026 5,000 $23.30 July 7, 2026 5,000 $23.30 July 7, 2026 5,000 $23.26 July 7, 2026 5,000 $23.26 July 7, 2026 5,000 $23.26 July 7, 2026 5,000 $23.30 July 7, 2026 3,000 $23.30 July 7, 2026 5,000 $23.30 July 7, 2026 5,000 $23.31 July 2, 2026 5,000 $23.77 July 2, 2026 5,000 $23.76 July 2, 2026 5,000 $23.70 July 2, 2026 5,000 $23.68 July 2, 2026 5,000 $23.69 July 2, 2026 5,000 $23.69 July 2, 2026 5,000 $23.75 July 2, 2026 5,000 $23.75 July 2, 2026 5,000 $23.77 July 2, 2026 5,000 $23.70 July 2, 2026 5,000 $23.62 July 2, 2026 2,000 $23.62 July 2, 2026 2,000 $23.70 July 2, 2026 5,000 $23.75 July 2, 2026 5,000 $23.75 Jonathan Hoese Date Shares Purchased Price Per Share July 7, 2026 3,000 $23.09 July 7, 2026 3,250 $23.09 July 6, 2026 1 $23.17 July 6, 2026 84 $23.15 July 6, 2026 20 $23.28 July 6, 2026 200 $23.30 July 6, 2026 95 $23.25 July 6, 2026 600 $23.31 July 2, 2026 1,300 $23.81 July 2, 2026 450 $23.86 July 2, 2026 200 $23.87 July 2, 2026 511 $23.78 July 2, 2026 210 $23.85 July 2, 2026 6 $23.79 July 2, 2026 2,020 $23.50 July 2, 2026 103 $23.77 July 2, 2026 200 $23.84 July 2, 2026 2,750 $23.59 Noah Retka Date Shares Purchased Price Per Share July 6, 2026 273,379 $23.20 July 7, 2026 200 $23.12 Joseph Schornack Date Shares Purchased Price Per Share July 2, 2026 12 $24.2899
(d)	No other person is known to have the right to receive or the power to direct the receipt of dividends from, or any proceeds from the sale of, the Common Stock that may be deemed to be beneficially owned by any of the Reporting Persons.
(e)	Not applicable.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Gale Hoese

Signature:	/s/ Gale Hoese
Name/Title:	Gale Hoese
Date:	07/08/2026

Andrew Schornack

Signature:	/s/ Andrew Schornack
Name/Title:	Andrew Schornack
Date:	07/08/2026

Jill Schornack

Signature:	/s/ Jill Schornack
Name/Title:	Jill Schornack
Date:	07/08/2026

David Schornack

Signature:	/s/ David Schornack
Name/Title:	David Schornack
Date:	07/08/2026

Denise Schornack

Signature:	/s/ Denise Schornack
Name/Title:	Denise Schornack
Date:	07/08/2026

Jonathan Hoese

Signature:	/s/ Jonathan Hoese
Name/Title:	Jonathan Hoese
Date:	07/08/2026

Tamara Retka

Signature:	/s/ Tamara Retka
Name/Title:	Tamara Retka
Date:	07/08/2026

Noah Retka

Signature:	/s/ Noah Retka
Name/Title:	Noah Retka
Date:	07/08/2026

Joseph Schornack

Signature:	/s/ Joseph Schornack
Name/Title:	Joseph Schornack
Date:	07/08/2026