Citizens Bancshares Corporation announced earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported net income before preferred dividends of $615,000 compared to net income before preferred dividends of $334,000 for the same period last year. Net income available to common shareholders for the fourth quarter of 2012 was $555,000 or $0.26 per diluted common share compared to a net income available to common shareholders of $274,000, or $0.12 per diluted common share, reported for the fourth quarter of 2011. Total revenues were $5,082,000 against $5,545,000 a year ago.
For the year, the company reported a net income before preferred dividends of $769,000 compared to $269,000 for the same period in 2011. Net income available to common shareholders was $532,000, or $0.25 per diluted common share compared to a net income available to common shareholders of $32,000, or $0.02 per diluted common share, reported for the same period in 2011. Total revenues were $5,082,000 against $5,545,000 a year ago. Total revenues were $21,479,000 against $21,554,000 a year ago.