Citizens Financial Q4 net income $7.9M (+13.4% YoY); EPS $1.99 vs $1.74

CITIZENS FINANCIAL SERVICES INC

2022-FY EPS reported $7.32 revenue$8,587,000

Net income for Q4 2022 was $7.9M ($1.99 EPS), up 13.4% from $6.9M ($1.74 EPS) in Q4 2021.
Full-year 2022 net income $29.1M ($7.32 EPS) flat vs 2021; net interest income grew 9.1% to $72.1M.
Net loan growth of $282.2M (19.8%) driven by Delaware; loan-to-deposit ratio rose to 93.54% from 78.51%.
Non-performing assets fell to $7.5M (0.43% of loans); allowance for loan losses 1.08%.
Quarterly dividend raised to $0.480/share (+3.13%); HV Bancorp merger expected to close Q2 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CITIZENS FINANCIAL SERVICES INC reported the fourth quarter 2022 results: net income $7.9 million.

Period: the fourth quarter 2022
Net income: $7.9 million
Result: reported results

Exact text from the filing

On Janaury 30, 2023, Citizens Financial Services, Inc. issued a press release titled “Citizens Financial Services, Inc. Reports Unaudited Full Year and Fourth Quarter 2022 Financial Results”

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Source: SEC EDGAR

accession 0000739421-23-000003

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