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Mar 31, 2023
Citizens Financial Services Q1 2023 Earnings Report
Citizens Financial Services' first quarter performance in 2023 was reported, with slight increase in net income.
Key Takeaways
Citizens Financial Services, Inc. reported a net income of $6.9 million for the three months ended March 31, 2023, which is a 1.9% increase compared to the same period in 2022. Net interest income before the provision for credit losses increased by 11.2% to $18.1 million. The company's acquisition of HV Bancorp, Inc. is expected to close on June 16, 2023.
Net income increased by 1.9% compared to Q1 2022, reaching $6.9 million.
Net interest income before provision for credit losses rose by 11.2% to $18.1 million.
Earnings per share increased to $1.73, compared to $1.69 in the prior year.
Regulatory approval received for the acquisition of HV Bancorp, Inc., expected to close on June 16, 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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