---
schema_version: "secwatch.filing_event.v1"
accession: "0000739421-24-000004"
form_type: "8-K"
ticker: "CZFS"
cik: "0000739421"
company_name: "CITIZENS FINANCIAL SERVICES INC"
filed_at: "2024-01-30T23:59:59+00:00"
generated_at: "2026-06-06T15:25:44.751689+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000739421-24-000004
- form_type: 8-K
- ticker: CZFS
- cik: 0000739421
- company_name: CITIZENS FINANCIAL SERVICES INC
- filed_at: 2024-01-30T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/739421/000073942124000004/0000739421-24-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/739421/000073942124000004/fourthqtrearnings2023.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000739421-24-000004
- JSON: https://secwatch.observer/filing/0000739421-24-000004.json
- Plain text: https://secwatch.observer/filing/0000739421-24-000004.txt

## Key facts
- Earnings Releases
  CITIZENS FINANCIAL SERVICES INC reported financial results for full year ended December 31, 2023.
  - Period: full year ended December 31, 2023
  - Result: reported results
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/739421/000073942124000004/0000739421-24-000004-index.htm
- Earnings Releases
  CITIZENS FINANCIAL SERVICES INC reported financial results for three months ended December 31, 2023.
  - Period: three months ended December 31, 2023
  - Result: reported results
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/739421/000073942124000004/0000739421-24-000004-index.htm

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