Citizens Holding Q3 2021 net income $0.34/share, down 9.75% YoY; NIM improves to 2.74%

CITIZENS HOLDING CO /MS/

2021-Q3 EPS reported $1.02

Net income for Q3 2021 was $1.88M ($0.34 per share), down from $2.08M ($0.37) in Q3 2020.
Nine-month net income increased 20.8% to $5.68M ($1.02 per share) vs $4.70M ($0.84) prior year.
Net interest margin improved to 2.74% for Q3, up 17 bps from linked quarter; provision for loan losses was $968K mainly due to one relationship.
Non-performing assets decreased 20.1% sequentially to $7.07M, down 49.75% year-over-year.
Noninterest income rose 24.9% in Q3 2021 vs Q3 2020, driven by mortgage origination and investment security gains.

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