Welcome to our dedicated page for Citizens Community Bancorp news (Ticker: CZWI), a resource for investors and traders seeking the latest updates and insights on Citizens Community Bancorp stock.
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 (Nasdaq: CZWI) reported Q2 2022 earnings of $4.4 million or $0.41 per diluted share, down from $4.7 million or $0.45 in Q1 2022. Year-to-date earnings were $9.1 million ($0.86 per share), a decrease from $10.2 million ($0.94) in the same period last year. Net interest income rose $1.1 million from Q1 to $14.3 million. Loan growth was strong at 18% annualized, but demand has softened due to economic pressures. The efficiency ratio improved to 60%.
Citizens Community Bancorp reported first-quarter 2022 earnings of $4.7 million or $0.45 per diluted share, down from $6.1 million or $0.58 in Q4 2021. Key factors for the decrease include a $1 million drop in loan interest income, primarily from reduced SBA PPP fees, and a $0.9 million decline in securities sales. Total assets rose to $1.78 billion, while book value per share fell to $15.72. The company also issued $35 million in subordinated debt and injected $15 million into its banking subsidiary to strengthen capital ratios.
Citizens Community Bancorp reported record earnings of $6.1 million or $0.58 per diluted share for the fourth quarter of 2021, up from $5.0 million or $0.47 per share the previous quarter. Fiscal 2021 earnings surged by 67% to $21.3 million, compared to $12.7 million in 2020. Key drivers included increased loan interest income and reduced deposit costs. Book value per share rose to $16.27, a 12.1% annual increase. However, total assets slightly declined to $1.74 billion, and nonperforming assets increased to $13.2 million.
Citizens Community Bancorp (CZWI) reported record earnings of $5.0 million for Q3 2021, translating to $0.47 per diluted share, an increase from $4.7 million ($0.44 per diluted share) in Q2 2021 and $3.5 million ($0.31 per diluted share) in Q3 2020. Year-to-date earnings reached $15.2 million, up 66% from $9.2 million in 2020. Key drivers include increased loan interest income, modest growth in net interest income, and improved asset quality. However, nonperforming assets rose to $12.1 million from $8.8 million in the prior quarter, primarily due to a single commercial real estate loan.
Citizens Community Bancorp, Inc. (CZWI) reported second-quarter earnings of $4.7 million ($0.44 per diluted share), down from $5.5 million ($0.50 per share) in Q1 2021, but up from $3.1 million ($0.28 per share) in Q2 2020. Year-to-date earnings reached $10.2 million, an 80% increase from the previous year. The company approved a 5% stock repurchase plan, and tangible book value rose by 15.9% year-over-year to $11.95 per share. Total assets decreased by $17.8 million to $1.71 billion. Nonperforming assets fell 6% to $8.8 million, demonstrating improved asset quality.
Citizens Community Bancorp, Inc. (CZWI) reported record earnings of $5.5 million or $0.50 per diluted share for Q1 2021, up from $3.6 million ($0.32) in Q4 2020 and $2.6 million ($0.23) in Q1 2020. Adjusted net income was $5.6 million or $0.51 per diluted share. Key highlights included no loan loss provisions due to improved asset quality, a decrease in non-interest expenses, and an 11% year-over-year increase in book value per share to $14.75. The bank's nonperforming assets fell 19% this quarter. Total assets increased to $1.73 billion.
Citizens Community Bancorp, Inc. (Nasdaq: CZWI) announced that Steve Bianchi, Chairman and CEO, and Jim Broucek, CFO, will hold virtual meetings with institutional investors on May 6-7, 2021, hosted by D.A. Davidson. Discussion materials will be available on the Company's investor website by May 6, 2021. The Bank serves customers in Wisconsin and Minnesota, operating 25 branches and providing community banking services including residential mortgage loans.
Citizens Community Bancorp reported Q4 2020 earnings of $3.6 million ($0.32 per diluted share), up from $3.5 million ($0.31 per diluted share) in Q3 2020 and $3.2 million ($0.28 per diluted share) in Q4 2019. Annual earnings reached $12.7 million ($1.14 per diluted share), compared to $9.5 million ($0.85 per diluted share) in 2019. Key highlights include a 13% increase in tangible book value per share to $11.18, a decrease in nonperforming assets by 23%, and a dividend increase of 10% to $0.23 per share. The provision for loan losses rose to $2.5 million due to organic loan growth and economic uncertainties.
Citizens Community Bancorp reported earnings of $3.5 million ($0.31 per share) for the quarter ended September 30, 2020, an increase from $3.1 million ($0.28 per share) in the previous quarter. Adjusted net income was $3.3 million ($0.30 per share), up from $2.8 million ($0.25 per share). The company saw lower net interest income due to loan portfolio reductions but benefited from high mortgage loan sales. Book value per share increased to $14.10, reflecting a 7% annualized growth. Non-performing assets decreased significantly, indicating improved asset quality. However, COVID-19-related loan loss provisions increased.
Citizens Community Bancorp reported a net income of $3.1 million or $0.28 per diluted share for Q2 2020, up from $2.6 million or $0.23 in Q1. Tangible book value per share increased to $10.31 from $9.80.
Key highlights include improved asset quality, with non-performing assets decreasing to 1.08% of total assets. However, the company faced higher loan loss provisions of $1.75 million due to anticipated COVID-19 impacts. The bank's total assets grew to $1.61 billion, partly from $137 million in SBA PPP loans.
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