secwatch.observer — SEC 8-K summary
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Issuer:     Citizens Community Bancorp Inc. (CZWI)
CIK:        0001367859
Form:       8-K
Filed at:   2023-07-24T23:59:59+00:00
Accession:  0001367859-23-000124
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1367859/000136785923000124/0001367859-23-000124-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1367859/000136785923000124/czwi-20230724.htm
  HTML page:      https://secwatch.observer/filing/0001367859-23-000124

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