Citizens Financial Q3 net income flat at $7.5M; NIM shrinks, NPAs surge to $24M

CITIZENS FINANCIAL SERVICES INC

2024-Q3 EPS reported $4.17 revenue$7,312,000

Q3 net income $7.5M ($1.59 EPS) vs $7.5M ($1.59 EPS) in Q3 2023; flat YoY.
Net interest income fell 4.8% to $21.3M; tax-effected NIM narrowed to 3.09% from 3.29%.
Non-performing assets jumped to $24.0M from $13.1M at Dec 2023, driven by four commercial loans.
Nine-month net income doubled to $19.8M from $10.3M due to absence of 2023 merger costs.
Quarterly dividend raised 1% to $0.49/share, paid Sept 27, 2024.

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