---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-226383"
form_type: "8-K/A"
ticker: "CZFS"
cik: "0000739421"
company_name: "CITIZENS FINANCIAL SERVICES INC"
filed_at: "2023-08-31T23:59:59+00:00"
generated_at: "2026-06-11T01:38:43.458035+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Citizens Financial completes acquisition of HV Bancorp; HVBC shareholders get $30.50 cash or 0.4 CZFS shares

## Summary
- HVBC had total assets of $615.8M, loans of $469.0M, and deposits of $525.2M as of Dec 31, 2022.
- HVBC 2022 net income was $2.23M ($1.06 diluted EPS) on net interest income of $18.84M.
- Merger closed June 16, 2023; combined company pro forma financials filed for FY2022 and Q1 2023.
- Deal consideration: 80% stock / 20% cash mix; each HVBC share elected $30.50 cash or 0.4000 CZFS shares.
- Regulatory approvals received from FDIC, Fed, and PA Dept of Banking; shareholder vote approved in Feb 2023.

## SEC filing metadata
- accession: 0001193125-23-226383
- form_type: 8-K/A
- ticker: CZFS
- cik: 0000739421
- company_name: CITIZENS FINANCIAL SERVICES INC
- filed_at: 2023-08-31T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/739421/000119312523226383/0001193125-23-226383-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/739421/000119312523226383/d501525d8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-226383
- JSON: https://secwatch.observer/filing/0001193125-23-226383.json
- Plain text: https://secwatch.observer/filing/0001193125-23-226383.txt

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