secwatch.observer — SEC 8-K summary
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Issuer:     CITIZENS FINANCIAL SERVICES INC (CZFS)
CIK:        0000739421
Form:       8-K/A
Filed at:   2023-08-31T23:59:59+00:00
Accession:  0001193125-23-226383
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/739421/000119312523226383/0001193125-23-226383-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/739421/000119312523226383/d501525d8ka.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-226383

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