Citizens Financial Services, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 30, 2024 at 04:10 pm EST
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Citizens Financial Services, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net interest income was USD 21.86 million compared to USD 19.3 million a year ago. Net income was USD 7.54 million compared to USD 7.88 million a year ago. Basic earnings per share from continuing operations was USD 1.6 compared to USD 1.97 a year ago. Diluted earnings per share from continuing operations was USD 1.6 compared to USD 1.97 a year ago.
For the full year, net interest income was USD 80.26 million compared to USD 72.13 million a year ago. Net income was USD 17.81 million compared to USD 29.06 million a year ago. Basic earnings per share from continuing operations was USD 4.06 compared to USD 7.25 a year ago. Diluted earnings per share from continuing operations was USD 4.06 compared to USD 7.25 a year ago.
Citizens Financial Services, Inc. is a bank holding company for First Citizens Community Bank (the Bank). The Bank is a full-service bank engaged in a range of banking activities and services for individual, business, governmental and institutional customers. These activities and services principally include checking, savings, and time deposit accounts; residential, commercial, and agricultural real estate, commercial and industrial, state and political subdivision and consumer loans; and a variety of other specialized financial services. The Trust and Investment division of the Bank offers a full range of client investment, estate, mineral management, and retirement services. The Bank operates 39 full-service offices, one limited branch office, and four mortgage centers in its market areas. It is engaged in the ownership and management of CZFS Acquisition Company, LLC, its subsidiary, the Bank and the Banks subsidiaries, First Citizens Insurance Agency, Inc. and 1st Realty of PA LLC.