Citizens Financial Services, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 31, 2023 at 04:05 pm EDT
Share
Citizens Financial Services, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 17.92 million compared to USD 17.73 million a year ago. Net loss was USD 4.14 million compared to net income of USD 6.9 million a year ago. Basic loss per share from continuing operations was USD 1.01 compared to basic earnings per share from continuing operations of USD 1.72 a year ago. Diluted loss per share from continuing operations was USD 1.01 compared to diluted earnings per share from continuing operations of USD 1.72 a year ago.
For the six months, net interest income was USD 36 million compared to USD 33.99 million a year ago. Net income was USD 2.72 million compared to USD 13.64 million a year ago. Basic earnings per share from continuing operations was USD 0.67 compared to USD 3.4 a year ago. Diluted earnings per share from continuing operations was USD 0.67 compared to USD 3.4 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.