CZFS Q4 net income $7.5M, EPS $1.60; full-year net income $17.8M, down 38.7% YoY

CITIZENS FINANCIAL SERVICES INC

2023-FY EPS reported $4.06 revenue$8,972,000

Net income $7.5M for Q4 2023 ($1.60 EPS) vs $7.9M ($1.97 EPS) in Q4 2022, down 4.3%.
Full-year 2023 net income $17.8M ($4.06 EPS) vs $29.1M ($7.25 EPS), down 38.7% due to $9.3M merger costs and $4.6M provision.
Net interest income grew 11.3% to $80.3M for 2023, driven by HV Bancorp acquisition.
Quarterly dividend raised 3.1% to $0.49 per share; paid Dec 29, 2023.
Non-performing loans $12.7M; deposits ex-acquisition decreased $56.1M in 2023.

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 financial results for full year ended December 31, 2023.

Period: full year ended December 31, 2023
Result: reported results

Exact text from the filing

Randall E. Black, Chief Executive Officer, recently announced the unaudited consolidated financial results for Citizens Financial Services, Inc. and susbisidaries for the fourth quarter 2023. On Janaury 30, 2024, Citizens Financial Services, Inc. issued a press release titled “Citizens Financial Services, Inc. Reports Unaudited Full Year and Fourth Quarter 2023 Financial Results”, attached as Exhibit 99.1 to the Current Report on Form 8-K and incorporated herein by reference.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CITIZENS FINANCIAL SERVICES INC reported financial results for three months ended December 31, 2023.

Period: three months ended December 31, 2023
Result: reported results

Exact text from the filing

Randall E. Black, Chief Executive Officer, recently announced the unaudited consolidated financial results for Citizens Financial Services, Inc. and susbisidaries for the fourth quarter 2023. On Janaury 30, 2024, Citizens Financial Services, Inc. issued a press release titled “Citizens Financial Services, Inc. Reports Unaudited Full Year and Fourth Quarter 2023 Financial Results”, attached as Exhibit 99.1 to the Current Report on Form 8-K and incorporated herein by reference.

View on SEC.gov

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CITIZENS FINANCIAL SERVICES INC filing history →

Source: SEC EDGAR

accession 0000739421-24-000004

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