Investor group builds 6.3% Citizens Community (CZWI) stake, sees shares undervalued

Rhea-AI Filing Summary

Citizens Community Bancorp Inc. has a new 6.3% shareholder group led by community banking executive Gale Hoese and several Schornack and Retka family members. As of June 2, 2026, they may be deemed to beneficially own 611,987.11 shares of common stock out of 9,644,112 shares outstanding as of May 6, 2026.

The group says it acquired the stake for investment purposes and believes the shares are undervalued relative to Citizens Community’s intrinsic value, long-term earnings potential, and franchise value. Members describe themselves as experienced community banking operators and view the bank’s deposit base, credit discipline, and Wisconsin and Minnesota footprint as attractive.

They state they may buy more shares or sell some in open-market or private transactions depending on price, company developments, and market conditions. They may also discuss strategy, governance, capitalization, ownership structure, and possible extraordinary transactions such as mergers or recapitalizations with management, the board, other shareholders, or industry participants.

Insights

Banking-focused equity analyst

A new 6.3% investor group signals active interest but no specific plan yet.

A group led by banker Gale Hoese and related investors has built a 6.3% position, or 611,987.11 shares, in Citizens Community Bancorp Inc. They accumulated shares in open-market purchases around $20–$22 per share during April–June 2026.

The investors describe the stock as undervalued versus intrinsic value and franchise strength, and highlight their experience building community banking franchises. They explicitly leave open the possibility of further share purchases, sales, or discussions on strategy, governance, capitalization, and potential extraordinary transactions such as mergers or recapitalizations.

The filing does not commit to any specific change but indicates a more engaged shareholder with sector expertise. Future company disclosures and any public proposals from this group would clarify whether the position remains passive or evolves into more active involvement.

Key Figures

Beneficial ownership: 611,987.11 shares Ownership percentage: 6.3% of common stock Shares outstanding: 9,644,112 shares +5 more

8 metrics

Beneficial ownership 611,987.11 shares Aggregate shares the group may be deemed to own as of June 2, 2026

Ownership percentage 6.3% of common stock Portion of 9,644,112 shares outstanding as of May 6, 2026

Shares outstanding 9,644,112 shares Common shares outstanding as of May 6, 2026 per Form 10-Q

Gale Hoese holdings 450,000 shares Sole voting and dispositive power reported for Gale Hoese

Andrew Schornack holdings 21,048 shares Sole voting and dispositive power reported for Andrew Schornack

Largest recent block purchase 5,000 shares at $21.70 One of multiple June 2, 2026 trades by Gale Hoese

Recent price range $20.39–$22.06 per share Approximate range of disclosed open-market purchases in April–June 2026

Event date June 2, 2026 Date of event requiring the Schedule 13D filing

Key Terms

Schedule 13D, beneficially own, group, JTWROS, +2 more

6 terms

Schedule 13D regulatory

"If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this"

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 regulatory

"may be deemed to beneficially own an aggregate of 611,987.11 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.

group regulatory

"The Reporting Persons may be deemed to be a "group" for purposes of Rule 13d-3"

JTWROS financial

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

intrinsic value financial

"The Reporting Persons 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.

extraordinary transactions financial

"including the possibility of one or more extraordinary transactions such as a merger, business combination, recapitalization, restructuring, or other strategic transaction"

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

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)

06/02/2026

(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 450,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 450,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

611,987.11

12

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

13

Percent of class represented by amount in Row (11)

6.3 %

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

611,987.11

12

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

13

Percent of class represented by amount in Row (11)

6.3 %

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

611,987.11

12

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

13

Percent of class represented by amount in Row (11)

6.3 %

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 83,573.49
8	Shared Voting Power 270.00
9	Sole Dispositive Power 83,573.49
10	Shared Dispositive Power 270.00

11

Aggregate amount beneficially owned by each reporting person

611,987.11

12

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

13

Percent of class represented by amount in Row (11)

6.3 %

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

611,987.11

12

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

13

Percent of class represented by amount in Row (11)

6.3 %

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 25,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 25,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

611,987.11

12

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

13

Percent of class represented by amount in Row (11)

6.3 %

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 8.31
8	Shared Voting Power 0.00
9	Sole Dispositive Power 8.31
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

611,987.11

12

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

13

Percent of class represented by amount in Row (11)

6.3 %

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 5,026.62
8	Shared Voting Power 0.00
9	Sole Dispositive Power 5,026.62
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

611,987.11

12

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

13

Percent of class represented by amount in Row (11)

6.3 %

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 3,500.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 3,500.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

611,987.11

12

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

13

Percent of class represented by amount in Row (11)

6.3 %

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 2.	Identity and Background
(a)	The Reporting Persons are: Gale Hoese Andrew Schornack Jill Schornack David Schornack Denise Schornack Jonathan Hoese Tamara Retka Noah Retka Joseph Schornack The Reporting Persons may be deemed to be a "group" for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). However, each Reporting Person disclaims beneficial ownership of the Common Stock reported herein that he or she does not directly own. Notwithstanding this Schedule 13D, each Reporting Person has and retains independent power with respect to the acquisition, holding, voting or disposition of the Common Stock held by each Reporting Person except to the extent of any shares held as joint tenants.
(b)	Each of the Reporting Persons' business or personal address is set forth in Item 2(c).
(c)	The present principal occupation or employment of each Reporting Person and the name, principal business and address of any corporation or other organization in which such employment, and the business is conducted, and each Reporting Person's business or personal address, is as follows: Name of Principal Name of Employer, Principal Reporting Person Reporting Person Occupation or Business and Employer Address Employment Address Gale Hoese Chief Security Bank & Trust Company 2202 11th Street East Executive (banking) P.O. Box 9 Officer 2202 11th Street East Glencoe, MN 55336 P.O. Box 9 Glencoe, MN 55336 Andrew Schornack President Security Bank & Trust Company 7525 Office Ridge Circle (banking) Eden Prairie, MN 55344 2202 11th Street East P.O. Box 9 Glencoe, MN 55336 Jill Schornack Chief Product Officer SimpliGov (technology) 7525 Office Ridge Circle 1724 10th Street, Suite 115 Eden Prairie, MN 55344 Sacramento, CA 95811 David Schornack Senior Arvig Communications (internet/ 44393 Yellow Pine Dr, Director, communications provider) Perham, MN 56573 Revenue and 150 2nd St SW Growth Perham MN 56573 Denise Schornack Retired n/a 44393 Yellow Pine Dr. Perham, MN 56573 Jonathan Hoese Regional Sales Cantaloupe Inc. 1509 Archwood Road Director 101 Lindenwood Dr, Ste 405 Minnetonka, MN 55305 Malvern, PA 19355 Tamara Retka Pharmacist Hutchinson Health (medical) 2202 11th Street East 1095 Highway 15 S. P.O. Box 9 Hutchinson, MN 55350 Glencoe, MN 55336 Noah Retka Associate Physician Wealth Partners 2202 11th Street East Wealth (investment management) P.O. Box 9 Management 1191 Northland Drive, Suite 150 Glencoe, MN 55336 Advisor St. Paul, MN 55120 Joseph Schornack VP Business Security Bank & Trust Company 29211 Golden Rod Dr. NW Banking (banking) Isanti, MN 55040 2202 11th Street East P.O. Box 9 Glencoe, MN 55336
(d)	No Reporting Person has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	No Reporting Person has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which such Reporting Person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)	Each Reporting Person is a citizen of the United States of America.
Item 3.	Source and Amount of Funds or Other Consideration
	Row 4 of each Reporting Person's cover page to this Schedule 13D is incorporated herein by reference.
Item 4.	Purpose of Transaction
	The information set forth in Item 3, Item 5 and Item 6 are hereby incorporated by reference in its entirety. The Reporting Persons acquired their shares of Common Stock for investment purposes. The Reporting Persons believe the shares are undervalued relative to the Issuer's intrinsic value, long-term earnings potential, and franchise value. The Reporting Persons are experienced community banking operators with a track record of building and growing community banking franchises. The Reporting Persons believe the Issuer possesses an attractive community banking platform with strong deposit-gathering capabilities, disciplined credit management, and favorable market positioning in Wisconsin and Minnesota. The Reporting Persons intend to use their experience to support the Issuer's continued growth and the enhancement of long-term value for all shareholders. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending upon the price and availability of shares of Common Stock, subsequent developments affecting the Issuer, the Issuer's business and prospects, general stock market and economic conditions, tax considerations, and other factors, the Reporting Persons may from time to time acquire additional shares of Common Stock or dispose of shares of Common Stock in open market transactions, privately negotiated transactions, or otherwise. The Reporting Persons may from time to time engage in discussions with the Issuer's management, Board of Directors, other shareholders, industry participants, or other relevant parties regarding the Issuer's business, operations, governance, capitalization, ownership structure, strategy, board composition, and other matters, including the possibility of one or more extraordinary transactions such as a merger, business combination, recapitalization, restructuring, or other strategic transaction involving the Issuer. Except as set forth herein, the Reporting Persons do not have any present plans or proposals that relate to or would result in any of the actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D, although the Reporting Persons reserve the right to develop such plans or proposals in the future and to take any and all actions that they may deem appropriate to maximize the value of their investment in the Issuer.
Item 5.	Interest in Securities of the Issuer
(a)	The information set forth in the cover pages, Item 2 and Item 3 of this Schedule 13D are incorporated herein by reference. As of June 2, 2026, the Reporting Persons may be deemed to beneficially own an aggregate of 611,987.11 shares of the Common Stock, which represents 6.3% 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 611,987.11 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 June 2, 2026: Name of Reporting Person Number of Shares Gale Hoese 450,000 Andrew Schornack 21,048 Jill Schornack 13,952 David Schornack(1) 83,843.49 Denise Schornack(1) 1,575 Jonathan Hoese 25,000 Tamara Retka 8,312 Noah Retka 5,026.62 Joseph Schornack 3,500 (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 Schedule 13D 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 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 during the past sixty days. Gale Hoese Date Shares Purchased Price Per Share April 7, 2026 1,055 $20.43 April 7, 2026 1,200 $20.45 April 7, 2026 1,000 $20.49 April 7, 2026 400 $20.45 April 7, 2026 1,745 $20.40 April 7, 2026 2,000 $20.42 April 7, 2026 100 $20.39 April 7, 2026 2,000 $20.20 April 7, 2026 2,000 $20.25 April 8, 2026 691 $20.70 April 9, 2026 4,000 $20.70 April 10, 2026 4,000 $20.55 April 10, 2026 1,000 $20.56 April 10, 2026 4,000 $20.57 April 10, 2026 4,000 $20.57 April 10, 2026 2,000 $20.57 April 10, 2026 2,000 $20.57 April 14, 2026 550 $20.58 April 14, 2026 111 $20.70 April 14, 2026 1 $20.42 April 14, 2026 1,338 $20.35 June 2, 2026 2,000 $21.70 June 2, 2026 2,000 $21.70 June 2, 2026 3,000 $21.64 June 2, 2026 2,000 $21.70 June 2, 2026 2,000 $21.70 June 2, 2026 3,000 $21.70 June 2, 2026 5,000 $21.70 June 2, 2026 5,000 $21.70 June 2, 2026 3,000 $21.70 June 2, 2026 3,000 $21.70 June 2, 2026 5,000 $21.70 June 2, 2026 3,000 $21.70 June 2, 2026 4,000 $21.69 June 2, 2026 3,000 $21.70 June 2, 2026 3,000 $21.70 June 2, 2026 2,000 $21.70 June 2, 2026 1,000 $21.71 June 2, 2026 1,000 $21.66 June 2, 2026 2,000 $21.65 June 2, 2026 2,000 $21.65 June 2, 2026 1,000 $21.70 June 2, 2026 2,000 $21.71 June 2, 2026 1,000 $21.71 June 2, 2026 2,000 $21.72 June 2, 2026 2,000 $21.72 June 2, 2026 2,000 $21.72 June 2, 2026 1,000 $21.72 June 2, 2026 2,000 $21.73 June 2, 2026 2,000 $21.73 June 2, 2026 4,000 $21.74 June 2, 2026 4,000 $21.73 June 2, 2026 2,000 $21.73 June 2, 2026 2,000 $21.74 June 2, 2026 2,000 $21.74 June 2, 2026 2,000 $21.70 June 2, 2026 4,000 $21.74 June 2, 2026 4,000 $21.50 June 2, 2026 4,000 $21.24 June 2, 2026 1,000 $20.89 June 2, 2026 1,000 $20.89 June 2, 2026 1,000 $21.00 June 2, 2026 200 $21.02 June 2, 2026 800 $20.49 June 2, 2026 1,000 $21.02 June 2, 2026 1,819 $20.87 June 2, 2026 77 $20.85 June 2, 2026 1,000 $21.00 June 2, 2026 1,000 $20.88 June 2, 2026 1,000 $21.02 June 2, 2026 1,000 $21.02 June 2, 2026 1,000 $21.02 June 2, 2026 2,000 $20.92 June 2, 2026 1,000 $21.02 June 2, 2026 2,000 $20.86 June 2, 2026 104 $20.55 June 2, 2026 1,000 $20.45 June 2, 2026 1,000 $20.52 Andrew Schornack Date Shares Purchased Price Per Share April 6, 2026 2,500 $20.18 April 6, 2026 548 $20.00 April 30, 2026 1,000 $20.74 May 4, 2026 637 $20.79 May 4, 2026 20 $20.78 May 4, 2026 343 $20.77 May 4, 2026 300 $20.56 May 4, 2026 526 $20.71 May 4, 2026 11 $20.51 May 4, 2026 548 $20.55 May 4, 2026 5 $20.53 May 4, 2026 10 $20.52 May 4, 2026 600 $20.60 Jill Schornack Date Shares Purchased Price Per Share April 16, 2026 100 $20.30 April 16, 2026 100 $20.29 April 16, 2026 5 $20.30 April 21, 2026 2,000 $20.50 April 22, 2026 1,000 $20.40 May 1, 2026 1,000 $20.70 May 4, 2026 4,183 $20.80 May 4, 2026 100 $20.78 May 4, 2026 100 $20.77 May 4, 2026 10 $20.79 David Schornack Date Shares Purchased Price Per Share April 8, 2026 2,500 $20.70 April 10, 2026 635 $20.54 April 10, 2026 2,500 $20.56 April 13, 2026(1) 6 $20.50 April 13, 2026 1,365 $20.58 April 13, 2026 2,500 $20.62 April 14, 2026 486 $20.40 April 15, 2026 2,500 $20.40 April 16, 2026 2,500 $20.35 April 21, 2026 1,000 $20.50 April 23, 2026 6 $20.45 April 23, 2026 107 $20.50 April 24, 2026 81 $20.55 April 24, 2026 50 $20.60 April 24, 2026 1,000 $20.65 April 24, 2026 25 $20.40 April 27, 2026 448 $20.70 April 27, 2026 75 $20.73 April 27, 2026 2,500 $20.60 April 28, 2026 75 $20.92 April 29, 2026 1 $20.45 April 30, 2026 245 $20.70 April 30, 2026 55 $20.70 May 4, 2026 100 $20.84 May 4, 2026 15 $20.84 May 4, 2026 85 $20.81 May 4, 2026 100 $20.69 May 4, 2026 100 $20.62 May 4, 2026 100 $20.62 May 4, 2026 23 $20.86 May 4, 2026 77 $20.78 May 4, 2026 100 $20.87 May 4, 2026 100 $20.50 May 4, 2026 100 $20.65 May 4, 2026 100 $20.68 May 4, 2026 1,000 $20.81 May 4, 2026 100 $20.73 May 4, 2026 12 $20.77 May 4, 2026 88 $20.78 May 4, 2026 100 $20.52 May 4, 2026 100 $20.68 May 4, 2026 100 $20.51 May 4, 2026 2 $20.84 May 4, 2026 3 $20.81 May 4, 2026 3 $20.78 May 4, 2026 42 $20.79 May 4, 2026 50 $20.79 May 4, 2026 19 $20.84 May 4, 2026 31 $20.83 May 4, 2026 50 $20.71 May 4, 2026 100 $20.76 May 4, 2026 100 $20.71 May 4, 2026 50 $20.70 May 4, 2026 50 $20.70 May 4, 2026 50 $20.60 May 4, 2026 100 $20.79 May 4, 2026 50 $20.70 May 4, 2026 50 $20.70 May 4, 2026 50 $20.71 May 4, 2026 200 $20.97 May 4, 2026 500 $20.61 May 4, 2026 1,000 $20.69 May 4, 2026 1,000 $20.83 May 4, 2026 500 $20.75 May 5, 2026 50 $20.95 May 8, 2026 25 $21.48 May 8, 2026 25 $21.45 May 8, 2026 25 $21.45 May 8, 2026 25 $21.39 May 8, 2026 25 $21.39 May 8, 2026 25 $21.39 May 8, 2026 25 $21.39 May 8, 2026 25 $21.39 May 8, 2026 50 $21.15 May 12, 2026 50 $20.95 May 12, 2026 50 $20.90 May 12, 2026 25 $21.01 May 12, 2026 60 $20.95 May 12, 2026 50 $20.95 May 12, 2026 50 $20.99 May 12, 2026 50 $20.90 May 12, 2026 403 $20.80 May 12, 2026 100 $20.79 May 12, 2026 100 $20.81 May 12, 2026 232 $20.82 May 12, 2026 165 $20.83 May 12, 2026 100 $20.58 May 12, 2026 50 $20.80 May 12, 2026 300 $20.81 May 12, 2026 398 $20.80 May 12, 2026 152 $20.70 May 12, 2026 500 $20.70 May 12, 2026 50 $20.80 May 12, 2026 25 $21.06 May 13, 2026 94 $21.00 May 13, 2026 6 $20.98 May 13, 2026 1,000 $21.00 May 13, 2026 75 $21.00 May 13, 2026 75 $20.99 May 13, 2026 75 $20.99 May 13, 2026 75 $20.96 May 13, 2026 75 $20.97 May 13, 2026 11 $20.96 May 13, 2026 75 $20.96 May 13, 2026 75 $20.95 May 13, 2026 75 $20.95 May 13, 2026 75 $20.94 May 13, 2026 75 $20.94 May 13, 2026 75 $20.94 May 13, 2026 75 $20.93 May 13, 2026 75 $20.96 May 13, 2026 75 $20.94 May 13, 2026 75 $20.95 May 13, 2026 75 $20.94 May 13, 2026 75 $20.95 May 13, 2026 75 $20.94 May 13, 2026 75 $20.95 May 13, 2026 75 $20.90 May 13, 2026 75 $20.95 May 13, 2026 75 $20.90 May 13, 2026 29 $20.90 May 13, 2026 75 $20.90 May 13, 2026 100 $20.85 May 13, 2026 100 $20.85 May 13, 2026 100 $20.85 May 13, 2026 100 $20.80 May 13, 2026 2 $20.75 May 13, 2026 250 $20.85 May 13, 2026 100 $20.90 May 13, 2026 250 $20.90 May 13, 2026 100 $20.90 May 13, 2026 100 $20.90 May 13, 2026 250 $20.90 May 13, 2026 250 $20.85 May 13, 2026 100 $20.89 May 13, 2026 50 $20.90 May 13, 2026 100 $20.89 May 13, 2026 100 $20.91 May 13, 2026 100 $20.91 May 13, 2026 1,000 $20.80 May 13, 2026 75 $20.84 May 13, 2026 1,000 $20.80 May 13, 2026 75 $20.84 May 13, 2026 75 $20.85 May 13, 2026 75 $20.87 May 13, 2026 100 $20.95 May 13, 2026 75 $20.95 May 13, 2026 100 $20.95 May 13, 2026 75 $20.90 May 13, 2026 100 $20.95 May 13, 2026 100 $20.95 May 13, 2026 100 $20.95 May 13, 2026 75 $20.95 May 13, 2026 75 $20.95 May 13, 2026 75 $20.95 May 13, 2026 75 $20.90 May 13, 2026 75 $20.95 May 13, 2026 75 $20.85 May 13, 2026 75 $20.85 May 13, 2026 75 $20.85 May 13, 2026 75 $20.89 May 13, 2026 75 $20.90 May 13, 2026 75 $20.90 May 13, 2026 75 $20.85 May 13, 2026 75 $20.90 May 13, 2026 75 $20.90 May 13, 2026 75 $20.90 May 13, 2026 75 $20.90 May 13, 2026 50 $20.90 May 13, 2026 50 $20.93 May 13, 2026 50 $20.99 May 13, 2026 50 $21.00 May 13, 2026 50 $21.00 May 13, 2026 100 $21.08 May 13, 2026 250 $21.04 May 13, 2026 100 $21.00 May 13, 2026 69 $21.00 May 13, 2026 100 $21.00 May 13, 2026 50 $21.00 May 13, 2026 34 $21.00 May 13, 2026 25 $21.00 May 13, 2026 31 $20.95 May 13, 2026 16 $20.90 May 13, 2026 100 $20.95 May 14, 2026 100 $20.90 May 14, 2026 1 $20.89 May 14, 2026 74 $20.90 May 14, 2026 200 $20.85 May 14, 2026 75 $20.89 May 14, 2026 2 $20.85 May 14, 2026 75 $20.88 May 14, 2026 75 $20.85 May 14, 2026 1,000 $21.00 May 18, 2026 100 $20.84 May 18, 2026 100 $20.70 May 18, 2026 100 $20.60 May 18, 2026 100 $20.52 May 18, 2026 100 $20.52 May 18, 2026 100 $20.45 May 18, 2026 100 $20.52 May 18, 2026 100 $20.46 May 18, 2026 100 $20.45 May 18, 2026 75 $20.46 May 18, 2026 100 $20.52 May 18, 2026 50 $20.60 May 18, 2026 100 $20.46 May 18, 2026 100 $20.58 May 18, 2026 100 $20.58 May 18, 2026 100 $20.45 May 18, 2026 100 $20.52 May 18, 2026 100 $20.52 May 18, 2026 100 $20.52 May 21, 2026 223.491 $20.49 June, 2, 2026 75 $20.66 June, 2, 2026 75 $20.25 June, 2, 2026 75 $20.25 June, 2, 2026 75 $20.30 June, 2, 2026 75 $20.24 (1) By David Schornack and Denise Schornack as JTWROS. Denise Schornack - none other than shares purchased on April 13, 2026 with David Schornack as JTWROS. Jonathan Hoese Date Shares Purchased Price Per Share June 2, 2026 1,000 $21.63 June 2, 2026 250 $22.06 June 2, 2026 1,300 $21.48 June 2, 2026 2,000 $21.70 June 2, 2026 1,200 $21.70 June 2, 2026 800 $21.67 June 2, 2026 1,000 $21.68 June 2, 2026 500 $21.71 June 2, 2026 3,250 $21.84 June 2, 2026 500 $21.53 June 2, 2026 200 $21.48 June 2, 2026 650 $21.36 Tamara Retka Date Shares Purchased Price Per Share 5/18/2026 73 $20.49 5/18/2026 1,927 $20.53 5/18/2026 162 $20.45 6/2/2026 750 $20.02 Noah Retka Date Shares Purchased Price Per Share 4/29/2026 1 $20.74 4/30/2026 100 $20.83 4/30/2026 300 $20.73 5/22/2026 25.621 $20.50 Joseph Schornack Date Shares Purchased Price Per Share 4/08/2026 361 $20.43 4/23/2026 347 $20.40 6/2/2026 100 $21.7059 6/2/2026 300 $21.54
(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.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 4 of this Schedule 13D is incorporated herein by reference.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 99.1 Joint Filing Agreement dated June 4, 2026.

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:	06/04/2026

Andrew Schornack

Signature:	/s/ Andrew Schornack
Name/Title:	Andrew Schornack
Date:	06/04/2026

Jill Schornack

Signature:	/s/ Jill Schornack
Name/Title:	Jill Schornack
Date:	06/04/2026

David Schornack

Signature:	/s/ David Schornack
Name/Title:	David Schornack
Date:	06/04/2026

Denise Schornack

Signature:	/s/ Denise Schornack
Name/Title:	Denise Schornack
Date:	06/04/2026

Jonathan Hoese

Signature:	/s/ Jonathan Hoese
Name/Title:	Jonathan Hoese
Date:	06/04/2026

Tamara Retka

Signature:	/s/ Tamara Retka
Name/Title:	Tamara Retka
Date:	06/04/2026

Noah Retka

Signature:	/s/ Noah Retka
Name/Title:	Noah Retka
Date:	06/04/2026

Joseph Schornack

Signature:	/s/ Joseph Schornack
Name/Title:	Joseph Schornack
Date:	06/04/2026

FAQ

What stake did the Hoese and Schornack group report in Citizens Community (CZWI)?

The group reported beneficial ownership of 611,987.11 Citizens Community shares, equal to about 6.3% of the 9,644,112 shares outstanding as of May 6, 2026, based on the company’s Form 10-Q.

Who are the reporting persons in the Citizens Community (CZWI) Schedule 13D?

The reporting persons are Gale Hoese, Andrew, Jill, David, Denise and Joseph Schornack, Jonathan Hoese, and Tamara and Noah Retka, all U.S. citizens holding Citizens Community common stock individually or jointly, and filing together as a group under SEC beneficial ownership rules.

Why did the Hoese and Schornack group invest in Citizens Community (CZWI)?

They state they bought Citizens Community shares for investment purposes, believing the stock is undervalued versus the bank’s intrinsic value, long-term earnings potential, franchise value, deposit strength, credit discipline, and regional market positioning in Wisconsin and Minnesota.

How might the new 6.3% holder group influence Citizens Community (CZWI)?

The group may discuss Citizens Community’s business, governance, capitalization, strategy, ownership structure, and board composition with management, directors, shareholders, or industry participants, and mentions possible extraordinary transactions such as mergers, recapitalizations, restructurings, or other strategic deals involving the bank.

Did the Citizens Community (CZWI) investor group recently buy shares in the open market?

Yes. The filing lists numerous open-market purchases in April–June 2026, including trades for Gale Hoese, Andrew and Jill Schornack, and others at prices generally around $20 to $22 per share, increasing their combined stake to 611,987.11 shares.

Does the Citizens Community (CZWI) Schedule 13D commit to a merger or other transaction?

No specific transaction is committed. The group reserves the right to consider extraordinary transactions such as mergers or recapitalizations but states it currently has no concrete plans or proposals described in Item 4’s subparagraphs and may develop such plans later.