Citizens Financial Services, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 23, 2023 at 09:00 am EDT
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Citizens Financial Services, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 22.4 million compared to USD 18.85 million a year ago. Net income was USD 7.55 million compared to USD 7.54 million a year ago. Basic earnings per share from continuing operations was USD 1.61 compared to USD 1.88 a year ago. Diluted earnings per share from continuing operations was USD 1.61 compared to USD 1.88 a year ago.
For the nine months, net interest income was USD 58.41 million compared to USD 52.84 million a year ago. Net income was USD 10.27 million compared to USD 21.19 million a year ago. Basic earnings per share from continuing operations was USD 2.4 compared to USD 5.28 a year ago. Diluted earnings per share from continuing operations was USD 2.4 compared to USD 5.28 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.