Citizens Financial Services, Inc. - CZFS STOCK NEWS

Citizens Financial Services, Inc (OTCPink: CZFS) has filed an initial application to list its common stock on the Nasdaq Capital Market. CEO Randall Black expressed optimism about the listing, emphasizing that it could enhance the company's access to capital, increase trading volume, and enable better acquisition strategies. The application is subject to review and approval, and a future press release will detail the approval status and listing target date. Citizens Financial operates through First Citizens Community Bank, with assets totaling $2.2 billion and 31 offices across Pennsylvania, Delaware, and New York.

Citizens Financial Services, parent of First Citizens Community Bank, reported a net income of $29.1 million for 2021, reflecting a 16.0% increase from 2020, with basic earnings per share of $7.38. However, net income for Q4 2021 was $6.9 million, a 3.9% decline year-over-year. Total assets rose to $2.14 billion, while the loan-to-deposit ratio fell to 78.51%. Non-performing assets decreased to $8.8 million, representing 0.61% of total loans. A cash dividend of $0.470 per share was declared, marking a 3.10% increase from the previous year.

The Board of Directors of Citizens Financial Services has declared a cash dividend of $0.47 per share, payable on December 30, 2021, to shareholders of record as of December 16, 2021. This represents a 3.2% increase over the previous year's dividend of $0.456 per share, adjusted for a 1% stock dividend in June 2021. The bank holding company, with assets of $2.05 billion, operates 30 offices across Pennsylvania, Delaware, and New York.

Citizens Financial Services, Inc. (CZFS) reported net income of $22.2 million for the first nine months of 2021, a 24% increase from the prior year. For Q3, net income fell 11.8% to $7.1 million. Net interest income rose by 7.9% to $49.2 million. Non-performing assets decreased to $10.2 million, representing 0.71% of loans. The company declared a cash dividend of $0.470 per share, a 3.10% increase from last year. Despite a strong nine-month performance, Q3 results showed declines in key metrics like earnings per share and return on equity.

Citizens Financial Services reported strong financial results for the six months ended June 30, 2021, with net income rising 53.1% to $15.1 million. Basic earnings per share increased to $3.83 from $2.64 year-on-year. Net interest income before loan losses was $32.7 million, an 11.9% increase. Non-performing assets also decreased to $10.9 million, representing 0.77% of loans. The company declared a cash dividend of $0.465 per share, a 3.20% increase from the prior year. Assets grew to $2 billion, primarily due to the MidCoast acquisition.

Citizens Financial Services (CZFS) reported unaudited financial results for Q1 2021, showcasing a net income of $8.5 million, an 86.8% increase from Q1 2020. The company benefitted from the MidCoast Community Bancorp acquisition, with net interest income rising 27.6% to $16.4 million. Non-performing assets decreased to $12.8 million. Return on average equity reached 17.25%. The bank issued 227 PPP loans totaling $18.5 million and enhanced its capital position, with total assets now $2 billion. A dividend of $0.465 per share was declared, marking a 3.31% increase year-over-year.

Citizens Financial Services announced the completion of a private placement of $10 million in subordinated notes with a fixed rate of 4.00% due April 16, 2031. The notes, which qualify as Tier 2 capital, will initially pay a fixed interest rate until April 16, 2026, after which the rate will reset quarterly. Proceeds are intended for general corporate purposes, including growth funding and potential acquisitions. The issuance is not registered under the Securities Act, restricting its sale.

Citizens Financial Services, Inc. (CZFS) announced a cash dividend of $0.465 per share, payable on March 23, 2021, to shareholders of record as of March 12, 2021. This reflects a 3.31% increase from last year's regular dividend of $0.450 per share, adjusted for a prior 1% stock dividend. The bank holding company, valued at $1.95 billion, operates through First Citizens Community Bank across Pennsylvania, Delaware, and New York. CEO Randall E. Black highlighted the commitment to shareholder returns despite challenges posed by the COVID-19 pandemic.

The Board of Directors of Citizens Financial Services declared a cash dividend of $0.46 per share, payable on September 25, 2020, to shareholders of record by September 11, 2020. This represents a 3.33% increase over the previous year’s dividend of $0.445, adjusted for a 1% stock dividend in June 2020. CEO Randall E. Black noted the bank's strong financial performance amidst the COVID-19 pandemic, reaffirming the commitment to return value to shareholders. Citizens Financial Services, operating as a bank holding company, manages assets of $1.85 billion across 30 offices.