secwatch.observer — SEC 8-K summary
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Issuer:     CITIZENS FINANCIAL SERVICES INC (CZFS)
CIK:        0000739421
Form:       8-K
Filed at:   2024-04-25T23:59:59+00:00
Accession:  0000739421-24-000028
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/739421/000073942124000028/0000739421-24-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/739421/000073942124000028/firstqtrearnings2024.htm
  HTML page:      https://secwatch.observer/filing/0000739421-24-000028

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer