secwatch.observer — SEC 8-K summary
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Issuer:     CITIZENS FINANCIAL SERVICES INC (CZFS)
CIK:        0000739421
Form:       8-K
Filed at:   2024-01-30T23:59:59+00:00
Accession:  0000739421-24-000004
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/739421/000073942124000004/0000739421-24-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/739421/000073942124000004/fourthqtrearnings2023.htm
  HTML page:      https://secwatch.observer/filing/0000739421-24-000004

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