Citizens Financial Corp. Reports Consolidated Earnings Results for the Year Ended December 31, 2011
Citizens Financial Corp. reported consolidated earnings results for the year ended December 31, 2011. For the year, net loss was $3,787,552 or $2.07 basic and fully diluted loss per common share against net income of $501,771 or $0.44 basic and fully diluted earnings per common share of prior year. Basic and fully diluted loss per class A common share was $2.17 against basic and fully diluted earnings per class A common share of $0.34 of prior year. Net interest income was $7,690,622 against $8,109,718 of previous year. Net cash provided by operating activities was $2,524,855 against $2,641,134 of prior year. Purchases of bank premises and equipment were $183,603 against $59,439 of prior year. Purchases of securities available for sale were $9,235,120 against $15,074,345 of prior year.