---
schema_version: "secwatch.filing_event.v1"
accession: "0000024090-24-000089"
form_type: "8-K"
ticker: "CIA"
cik: "0000024090"
company_name: "CITIZENS, INC."
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T21:06:11.149556+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Citizens Q1 revenue up 3% to $57.7M; insurance issued up 61%

## Summary
- Total revenues $57.7M (+3% YoY); net income $4.5M ($0.09/share) vs $4.9M ($0.10) a year ago.
- First year life & A&H premiums up 42% to $5.9M; insurance issued up 61% to $274.5M (record).
- Book value per Class A share $3.94 (+28% YoY); ex-AOCI $5.95 (+10%).
- Milestones: target at least 6% growth in first year premiums, 20% agent expansion, 2-3 new products in 2024.
- Renewed $20M credit facility with Regions Bank, maturing 2027; no borrowings outstanding.

## SEC filing metadata
- accession: 0000024090-24-000089
- form_type: 8-K
- ticker: CIA
- cik: 0000024090
- company_name: CITIZENS, INC.
- filed_at: 2024-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/24090/000002409024000089/0000024090-24-000089-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/24090/000002409024000089/cia-20240503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000024090-24-000089
- JSON: https://secwatch.observer/filing/0000024090-24-000089.json
- Plain text: https://secwatch.observer/filing/0000024090-24-000089.txt

## Key facts
- Debt Financings
  CITIZENS, INC. incurred credit facility of $20,000,000 senior secured revolving credit facility with Regions Bank maturing May 5, 2027.
  - Instrument: credit facility
  - Principal: $20,000,000 senior secured revolving credit facility
  - Counterparty: Regions Bank
  - Maturity: May 5, 2027
  - Event: incurrence
  source text: Agreement is referred to as the “Credit Facility”). The Credit Facility was renewed on substantially the same terms as the original Credit Agreement and continues to provide a $20,000,000 senior secured revolving credit facility. The Company has not borrowed under the Credit Facility to date. The proceeds of any loan provided to the Company under the Credit
  evidence_url: https://www.sec.gov/Archives/edgar/data/24090/000002409024000089/0000024090-24-000089-index.htm
- Earnings Releases
  CITIZENS, INC. reported first quarter ended March 31, 2024 results: revenue $57.7 million, net income $4.5 million, EPS $0.09 per fully diluted Class A share.
  - Period: first quarter ended March 31, 2024
  - Revenue: $57.7 million
  - Net income: $4.5 million
  - EPS: $0.09 per fully diluted Class A share
  - Result: reported results
  source text: First Quarter 2024 Financial Highlights • Total revenues increased 3% to $57.7 million in Q1 2024, from $55.9 million in the year-ago quarter. • First year life and A&H premiums increased 42% in Q1 2024, the sixth consecutive quarter of year-over-year growth in first year premiums, driven by new domestic growth and new products. • Net income of $4.5 million, $0.09 per fully diluted Class A share, in Q1 2024, from $4.9 million, $0.10 in Q1 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/24090/000002409024000089/0000024090-24-000089-index.htm
- Material Agreements
  CITIZENS, INC. amended First Amendment to Credit Agreement with Regions Bank valued at $20,000,000 senior secured revolving credit facility (effective 2024-05-03).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Regions Bank
  - Value: $20,000,000 senior secured revolving credit facility
  - Effective: 2024-05-03
  source text: On May 3, 2024, Citizens, Inc. (the “Company”) entered into the First Amendment to Credit Agreement with Regions Bank (the “Lender”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/24090/000002409024000089/0000024090-24-000089-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.