Citizens Financial Services Q2 net loss $4.1M on HVB deal costs; adjusted EPS $1.58

CITIZENS FINANCIAL SERVICES INC

2023-Q2 EPS reported $0.67 revenue$4,104,000

Net loss of $4.1M ($1.01 loss per share) vs net income $6.9M ($1.72) in Q2 2022; adjusted EPS ex merger costs $1.58.
Completed acquisition of HV Bancorp on June 16 for ~$76.7M; added $486M loans, $533M deposits.
Net interest income $17.9M, up 1.1% YoY; provision for credit losses $4.85M including $4.6M NPC provision.
Total assets $2.89B at June 30; deposits $2.27B; organic loans declined $40M.
Quarterly dividend increased 3% to $0.485/share, paid June 30.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CITIZENS FINANCIAL SERVICES INC reported second quarter 2023 results: net income Net loss was $4.1 million for the three months ended June 30, 2023.

Period: second quarter 2023
Net income: Net loss was $4.1 million for the three months ended June 30, 2023
Result: reported results

Exact text from the filing

Net loss was $4.1 million for the three months ended June 30, 2023

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Source: SEC EDGAR

accession 0000739421-23-000056

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