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Sep 30, 2022
Citizens Financial Services Q3 2022 Earnings Report
Citizens Financial Services' Q3 2022 financial results were released
Key Takeaways
Citizens Financial Services, Inc. reported a net income of $7.5 million for the three months ended September 30, 2022, which is 6.8% higher than the net income for 2021's comparable period.
Citizens Financial Services, Inc. and HV Bancorp, Inc. signed a definitive agreement for Citizens Financial Services, Inc. to acquire HV Bancorp, Inc., with the transaction expected to close in the first half of 2023.
Two new branches are scheduled to open in November of 2022 in Ephrata, Pennsylvania and Greenville, Delaware.
Net loan growth for the quarter was $141.9 million.
Net income was $7.5 million for the three months ended September 30, 2022, which is 6.8% higher than the net income for 2021’s comparable period.
Forward Guidance
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are not historical facts; rather, they are statements based on the Company's current expectations regarding its business strategies and their intended results and its future performance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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