Citizens Holding Q2 net income drops 88% YoY to $300K; dividend cut to $0.16

CITIZENS HOLDING CO /MS/

2023-06-30 EPS reported $0.26

Net income $300K ($0.05 diluted EPS) vs $2.5M ($0.45) in Q2 2022, decline of 88.19%.
Net interest margin compressed to 2.55% from 2.78% YoY; funding costs surged to 147 bps from 33 bps.
Dividend reduced to $0.16/share for Q2 2023 from $0.24; yield approx 5%.
Non-performing assets improved to 0.72% of loans vs 0.84% YoY; ACL increased to 1.11% from 0.86%.
Total deposits $1.103B, down slightly; loan growth modest at 1.32% linked-quarter.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

CITIZENS HOLDING CO /MS/ reported three and six months ended June 30, 2023 results: revenue Total revenues, or interest and non-interest income, for the three months ended June 30, 2023 totaled $13,422, net income Net income for the six months ended June 30, 2023 was $1,440, EPS $0.26 per share-basic and diluted.

Period: three and six months ended June 30, 2023
Revenue: Total revenues, or interest and non-interest income, for the three months ended June 30, 2023 totaled $13,422
Net income: Net income for the six months ended June 30, 2023 was $1,440
EPS: $0.26 per share-basic and diluted
Result: reported results

Exact text from the filing

Citizens Holding Company (the “Company”) (NASDAQ:CIZN) announced today results of operations for the three and six months ended June 30, 2023.

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Source: SEC EDGAR

accession 0001437749-23-021142

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