secwatch.observer — SEC 8-K summary
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Issuer:     Citizens Community Bancorp Inc. (CZWI)
CIK:        0001367859
Form:       8-K
Filed at:   2022-04-25T23:59:59+00:00
Accession:  0001367859-22-000087
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CZWI Q1 EPS $0.45, net income $4.7M down QoQ and YoY; issues $35M sub debt
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- Diluted EPS $0.45 vs $0.58 Q4'21 and $0.50 Q1'21; net income $4.7M vs $6.1M and $5.5M.
- Net interest margin 3.25% vs 3.50% Q4'21; NIM ex-PPP and purchase accretion 3.11%.
- Issued $35M sub debt (non-callable 5yr, SOFR+3.29%); injected $15M into bank; refinanced $28.9M senior debt.
- Loans decreased $20.8M to $1.29B due to payoffs; pipeline accelerating for growth.
- No loan loss provision; allowance 1.30% of loans; nonperforming assets $13.6M (0.77% of assets).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1367859/000136785922000087/0001367859-22-000087-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1367859/000136785922000087/czwi-20220425.htm
  HTML page:      https://secwatch.observer/filing/0001367859-22-000087

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