CZFS Q1 net income $7.0M (+2.3%), EPS $1.49 vs $1.71; NPA rise $4.8M YoY

CITIZENS FINANCIAL SERVICES INC

2024-Q1 EPS reported $1.49 revenue$2,413,000

Net income $7.0M, up 2.3% YoY; basic EPS $1.49 vs $1.71 (impacted by share increase from HVB acquisition).
Net interest income $20.96M, up 15.9% YoY, driven by HVB acquisition; margin compressed to 3.05% from 3.30%.
Non-interest income $4.97M, up $2.8M, including $1.1M pre-tax gain on sale of Braavo assets.
Provision for credit losses $785K (vs $0 in Q1 2023) due to NPA increase; NPA $15.7M (0.70% of loans) vs $10.9M a year ago.
Dividend raised 2.1% to $0.49 per share; paid March 29, 2024 to holders of record March 15.

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 1.0

CITIZENS FINANCIAL SERVICES INC reported first quarter 2024 results: net income $7,024,000, EPS $1.49.

Period: first quarter 2024
Net income: $7,024,000
EPS: $1.49
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 first quarter 2024.

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CITIZENS FINANCIAL SERVICES INC filing history →

Source: SEC EDGAR

accession 0000739421-24-000028

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