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Overview
Citizens Community Bancorp (CZWI) is a community bank holding company distinguished by its comprehensive traditional banking services. The bank specializes in a full range of deposit products and loan solutions, including commercial real estate, agricultural loans, and residential mortgage financing. Serving businesses, agricultural operators, and consumers, the organization is committed to supporting the financial needs of its local communities with a blend of personalized service and diversified product offerings.
Core Banking Services
The institution provides a vast spectrum of financial products designed to meet the varied requirements of its clients. Among these are:
- Deposit Products: Offering demand deposits, savings and money-market accounts, and certificates of deposit that cater to both individual and business needs.
- Loan Products: A diversified portfolio that includes one-to-four-family residential mortgages, commercial real estate loans, commercial and industrial loans, agricultural operating and real estate loans, and consumer lending solutions.
Market Presence and Operational Footprint
Headquartered in Eau Claire, Wisconsin, Citizens Community Bancorp operates through multiple branch locations strategically placed across Wisconsin, Minnesota, and Michigan. This regional presence reinforces its commitment to community banking, ensuring that localized market dynamics are addressed and that customers receive direct and tailored financial support. Through its branches, the company not only fosters local customer relationships but also supports regional businesses and rural communities with expert financial guidance.
Business Model and Revenue Sources
The company derives its revenue primarily from traditional banking activities. Interest income from a variety of loan products, along with fees associated with deposit accounts and loan origination, plays a significant role in generating net interest income. Additionally, non-interest income streams such as gains from the sale of specialized loan portfolios further contribute to its balanced revenue mix. The reliance on customer deposits and prudent credit management underlines the stable and conservative approach inherent in its business model.
Risk Management and Credit Quality
Citizens Community Bancorp is distinguished by its rigorous approach to credit risk management. The company employs a robust framework that includes strict loan underwriting standards, systematic evaluation of credit risks, and continuous monitoring of asset quality. This disciplined approach helps maintain healthy levels of loan loss allowances while promoting asset quality improvement through regular net loan recoveries and a focus on sustainable lending practices.
Industry Position and Differentiators
The bank positions itself as a reliable community partner that offers personalized financial services with in-depth local market knowledge. Its differentiation lies in the ability to deliver a broad range of banking products with an emphasis on traditional, relationship-based banking. The focus on community engagement and support for regional economic activity, coupled with a careful management of credit risk and a diversified product portfolio, sets the company apart within the competitive landscape of regional financial institutions.
Commitment to Community
At its core, Citizens Community Bancorp remains devoted to the communities it serves. The company builds strong relationships with local businesses, farms, and individual borrowers, offering tailored loan solutions and deposit services that are designed to foster economic growth and stability in the region. This dedication to community support is reflected in every aspect of its operations, from customer service to the strategic location of its branches.
Citizens Community Bancorp (CZWI) reported Q4 2024 earnings of $2.7 million ($0.27 per diluted share), down from $3.3 million ($0.32 per share) in Q3 2024 and $3.7 million ($0.35 per share) in Q4 2023. Key highlights include:
Net interest income increased $0.4 million to $11.7 million, with net interest margin rising 16 basis points to 2.79%. The company recorded a negative provision for credit losses of $0.45 million. Total loans decreased by $55.8 million to $1.369 billion, while deposits decreased by $32.5 million to $1.49 billion.
The Board of Directors increased the annual dividend by 12.5% to $0.36 per share. Book value per share improved to $17.94, and tangible book value per share increased 9.5% year-over-year to $14.69. The company repurchased 94,000 shares at an average price of $14.55 during Q4 2024.
Citizens Community Bancorp reported Q3 2024 earnings of $3.3 million ($0.32 per diluted share), compared to $3.7 million ($0.35 per share) in Q2 2024 and $2.5 million ($0.24 per share) in Q3 2023. Book value per share improved to $17.88, with tangible book value reaching $14.64. Key highlights include: net interest income decreased $0.3 million from Q2, deposits increased $1.1 million despite a $30.1 million decrease in brokered deposits, and nonperforming assets rose to $17.1 million. The company maintained a healthy reserve for credit losses at 1.47% of total loans and repurchased 223,000 shares at an average price of $12.91.
Citizens Community Bancorp, Inc. (CZWI) reported Q2 2024 earnings of $3.7 million, or $0.35 per diluted share. Key highlights include:
1. Net interest income decreased to $11.6 million, with a net interest margin of 2.72%.
2. Negative provision for credit losses of $1.525 million due to improved credit quality and economic outlook.
3. Non-interest income decreased to $1.9 million, mainly due to lower gains on sale of SBA loans.
4. Non-interest expenses decreased to $10.3 million, primarily due to lower SBA recourse reserves.
5. Gross loans decreased by $21.7 million to $1.43 billion.
6. Total deposits decreased by $7.9 million to $1.52 billion.
7. Board approved an additional 5% stock buyback authorization.
8. Book value per share improved to $17.10, and tangible book value per share increased to $13.91.
Citizens Community Bancorp, Inc. reported Q1 2024 earnings of $0.39 per share, with a net interest income increase and higher non-interest income. They saw a decrease in nonperforming assets by 31% and criticized assets by 25%.
Citizens Community Bancorp reported first-quarter earnings of $3.7 million or $0.35 per diluted share for the quarter ending March 31, 2023, down from $4.7 million or $0.45 per diluted share in the previous quarter and the same period last year. Key highlights include a 12% return on tangible shareholders’ equity, though net interest income fell $1.7 million to $12.8 million amid rising deposit costs. The bank achieved improved asset quality with a 25% reduction in criticized loans to $22.1 million and non-performing assets representing 0.63% of total assets. Total assets grew modestly to $1.86 billion, with consumer deposits contributing 55% of the deposit base. The adoption of new accounting standards increased the allowance for credit losses by $4.7 million.
Citizens Community Bancorp (Nasdaq: CZWI) reported fourth-quarter earnings of $4.7 million ($0.45 per diluted share) for Q4 2022, up from $4.0 million ($0.38) in Q3 2022 but down from $6.1 million ($0.58) in Q4 2021. For the fiscal year 2022, net income was $17.8 million ($1.69 per share), compared to $21.3 million ($1.98) in 2021. The company experienced solid loan growth of 2.6% quarter-over-quarter, despite a declining net interest margin at 3.33%. Book value per share increased to $16.03. A 12% dividend increase to $0.29 per share was declared for 2023.
Citizens Community Bancorp (Nasdaq: CZWI) reported earnings of $4.0 million ($0.38/share) for Q3 2022, down from $4.4 million ($0.41/share) in Q2 2022 and $5.0 million ($0.47/share) in Q3 2021. Year-to-date earnings totaled $13.1 million ($1.24/share), compared to $15.2 million ($1.41/share) in the same period last year. Net interest income rose by $0.2 million to $14.5 million, driven by loan growth. However, total non-interest expense increased to $11.3 million. The bank struggled with declining book value due to unrealized losses. Key metrics include a net interest margin of 3.33%.
FAQ
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