Citizens Community Bancorp Q2 EPS $0.31; net interest margin declines, nonperforming assets rise

Citizens Community Bancorp Inc.

2023-Q2 EPS reported $0.66

Earnings per diluted share $0.31, down from $0.35 in Q1 2023 and $0.41 in Q2 2022; net income $3.2M.
Net interest margin (ex-accretion) fell to 2.69% from 2.99% in Q1 as deposit costs rose faster than asset yields.
Nonperforming assets increased to $17.4M (0.95% of assets) from $11.7M; substandard loans up $3.8M to $19.2M.
Tangible book value per share improved to $12.61 from $12.48; stock buyback of 14k shares in Q2.
Provision for credit losses rose to $0.45M from $0.05M on worsening economic forecast, partially offset by specific reserve declines.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Citizens Community Bancorp Inc. reported the six months ended June 30, 2023 results: net income $6.9 million, EPS $0.66 per diluted share.

Period: the six months ended June 30, 2023
Net income: $6.9 million
EPS: $0.66 per diluted share
Result: reported results

Exact text from the filing

For the first six months of 2023, earnings were $6.9 million, or $0.66 per diluted share

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Citizens Community Bancorp Inc. reported the quarter ended June 30, 2023 results: net income $3.2 million, EPS $0.31 per diluted share.

Period: the quarter ended June 30, 2023
Net income: $3.2 million
EPS: $0.31 per diluted share
Result: reported results

Exact text from the filing

Citizens Community Bancorp, Inc. (the “Company”) (Nasdaq: CZWI), the parent company of Citizens Community Federal N.A. (the “Bank” or “CCFBank”), today reported earnings of $3.2 million and earnings per diluted share of $0.31 for the quarter ended June 30, 2023

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Source: SEC EDGAR

accession 0001367859-23-000124

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