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Dec 31, 2023
Citizens Financial Services Q4 2023 Earnings Report
Citizens Financial Services' net income decreased slightly and integration of HV Bancorp continued.
Key Takeaways
Citizens Financial Services, Inc. reported a slight decrease in net income for Q4 2023, totaling $7.54 million compared to $7.875 million in Q4 2022. The company continued integrating assets and employees from the HV Bancorp, Inc. acquisition, which contributed to net interest income growth. Total assets reached $2.98 billion, and deposits totaled $2.32 billion.
Net income for Q4 2023 was $7.54 million, a decrease of 4.3% compared to Q4 2022.
Basic and diluted earnings per share were $1.60 for Q4 2023, compared to $1.97 for Q4 2022.
Net interest income before the provision for credit loss increased by 13.3% to $21.855 million.
Total assets increased to $2.98 billion, and deposits increased to $2.32 billion.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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