Citizens Financial adjusts HV Bancorp merger exchange ratio to 0.4040 after 1% stock dividend

CITIZENS FINANCIAL SERVICES INC

Declared 1% stock dividend payable June 30, 2023 to shareholders of record June 9, 2023.
Merger exchange ratio for HVBC shares adjusted from 0.4000 to 0.4040 to reflect stock dividend.
Merger closing expected on June 16, 2023; shareholder elections subject to 80% stock / 20% cash proration.
HVBC shareholders may elect $30.50 cash or 0.4040 CZFS shares per HVBC share, subject to proration.

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