secwatch.observer — SEC 8-K summary
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Issuer:     CITIZENS FINANCIAL SERVICES INC (CZFS)
CIK:        0000739421
Form:       8-K
Filed at:   2024-10-30T23:59:59+00:00
Accession:  0000739421-24-000100
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/739421/000073942124000100/0000739421-24-000100-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/739421/000073942124000100/thirdqtrearnings2024.htm
  HTML page:      https://secwatch.observer/filing/0000739421-24-000100

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