---
schema_version: "secwatch.filing_event.v1"
accession: "0000943374-23-000251"
form_type: "8-K"
ticker: null
cik: "0001594555"
company_name: "HV Bancorp, Inc."
filed_at: "2023-06-16T23:59:59+00:00"
generated_at: "2026-06-13T22:42:10.012760+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# HV Bancorp completes merger with Citizens Financial Services; shares converted to cash/stock

## Summary
- Each HVBC share exchanged for $30.50 cash or 0.4040 CZFS shares; 80% stock/20% cash proration applied.
- Total consideration: ~723,068 CZFS shares and ~$13.65M cash to HVBC shareholders.
- Company common stock delisted from NASDAQ as of June 20, 2023; registration to be terminated.
- HV Bancorp ceased to exist as a separate entity; CZFS is the surviving corporation.

## SEC filing metadata
- accession: 0000943374-23-000251
- form_type: 8-K
- cik: 0001594555
- company_name: HV Bancorp, Inc.
- filed_at: 2023-06-16T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 2.01, 3.03, 5.01, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1594555/000094337423000251/0000943374-23-000251-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1594555/000094337423000251/form8k_061623.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000943374-23-000251
- JSON: https://secwatch.observer/filing/0000943374-23-000251.json
- Plain text: https://secwatch.observer/filing/0000943374-23-000251.txt

## Key facts
- Governance Changes
  HV Bancorp, Inc.: Company's articles of incorporation and bylaws ceased to be in effect due to merger; surviving entity's governing documents remain in effect.
  - Change: bylaw amendment
  source text: As of the Effective Time, the articles of incorporation of the Company and the bylaws of the Company ceased to be in effect by operation of law.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1594555/000094337423000251/0000943374-23-000251-index.htm
- M&A Transactions
  HV Bancorp, Inc. completed an acquisition involving Citizens Financial Services, Inc. for each share of Company common stock converted into the right to receive either $30.50 in cash or 0.4040 shares of CZFS common stock, with elections subject to pr (closed 2023-06-16).
  - Action: acquisition
  - Counterparty: Citizens Financial Services, Inc.
  - Consideration: each share of Company common stock converted into the right to receive either $30.50 in cash or 0.4040 shares of CZFS common stock, with elections subject to pr
  - Closing: 2023-06-16
  source text: time of the Merger (the “Effective Time”) , each share of Company common stock was converted into the right to receive, subject to the election of the holder, either (x) $30.50 in cash or (y) 0.4040 shares of CZFS common stock (as adjusted for a stock dividend), with cash payable in lieu of any fractional shares. Elections were subject to proration
  evidence_url: https://www.sec.gov/Archives/edgar/data/1594555/000094337423000251/0000943374-23-000251-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.