secwatch.observer — SEC 8-K summary
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Issuer:     CITIZENS FINANCIAL SERVICES INC (CZFS)
CIK:        0000739421
Form:       8-K
Filed at:   2024-07-30T23:59:59+00:00
Accession:  0000739421-24-000080
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Citizens Financial Q2 net income $5.3M vs loss year ago; EPS $1.11; dividend up 2.1%
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- Q2 net income $5.3M ($1.11 EPS) vs net loss $4.1M (($1.00) EPS) in Q2 2023; six-month net income $12.3M ($2.59 EPS).
- Net interest income $21.3M, up 18.9% YoY; net interest margin 3.15% vs 3.17% a year ago.
- Provision for credit losses $2.0M, with $1.1M directly from Braavo loans; non-performing assets rose $4.3M to $17.9M.
- Cash dividend increased 2.1% to $0.49 per share, declared June 4, 2024 and paid June 28.
- HVB acquisition completed one year ago; Braavo division sold in Q1 2024 with remaining loans causing charge-offs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/739421/000073942124000080/0000739421-24-000080-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/739421/000073942124000080/secondqtrearnings2024.htm
  HTML page:      https://secwatch.observer/filing/0000739421-24-000080

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