CITIZENS FINANCIAL SERVICES, INC. REPORTS UNAUDITED FULL YEAR AND FOURTH QUARTER 2025 FINANCIAL RESULTS | CZFS Stock News

, /PRNewswire/ -- Citizens Financial Services, Inc (Nasdaq: CZFS), parent company of First Citizens Community Bank (the "Bank"), released today its unaudited consolidated financial results for the three months and year ended December 31, 2025.On December 2, 2025, the Board of Directors declared a cash dividend of $0.50 per share, which was paid on December 26, 2025 to shareholders of record at the close of business on December 12, 2025. This quarterly cash dividend is an increase of 3.1% over the quarterly cash dividend of $0.485 per share declared one year ago, as adjusted for the 1% stock dividend declared in June 2025. Citizens Financial Services, Inc. has nearly 1,800 shareholders, the majority of whom reside in markets where its offices are located.Note: This press release may contain 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. Forward-looking statements are preceded by terms such as "expects," "believes," "anticipates," "intends" and similar expressions. Forward-looking statements are not guarantees of future performance. Numerous risks and uncertainties could cause or contribute to the Company's actual results, performance and achievements to be materially different from those expressed or implied by the forward-looking statements. Factors that may cause or contribute to these differences include, without limitation, changes in general economic conditions, including changes in market interest rates and changes in monetary and fiscal policies of the federal government; legislative and regulatory changes; and other factors disclosed periodically in the Company's filings with the Securities and Exchange Commission. Because of the risks and uncertainties inherent in forward-looking statements, readers are cautioned not to place undue reliance on them, whether included in this press release or made elsewhere periodically by the Company or on its behalf. The Company assumes no obligation to update any forward-looking statements except as may be required by applicable law or regulation.(1) See reconciliation of GAAP and Non-GAAP measures at the end of the press releaseCITIZENS FINANCIAL SERVICES, INC.Reconciliation of GAAP and Non-GAAP Financial Measures(UNAUDITED)(Dollars in thousands, except per share data)As of December 31,20252024Tangible EquityStockholders' Equity - GAAP$ 338,051$ 299,734Intangible Assets(87,979)(88,650)Tangible Equity - Non-GAAP250,072211,084Shares outstanding adjusted for June 2025 stock Dividend4,807,0804,806,685Tangible Book value per share - Non-GAAP$ 52.02$ 43.91As of December 31,20252024Tangible Equity per shareStockholders' Equity per share - GAAP$ 70.32$ 62.35Adjustment for intangible assets(18.30)(18.44)Tangible Book value per share - Non-GAAP$ 52.02$ 43.91For the Three Months EndedFor the Year EndedDecember 31,December 31,2025202420252024Return on Average Assets Excluding Accumulated Other Comprehensive Loss (AOCL)Average Assets - GAAP$ 3,055,993$ 3,015,467$ 3,021,591$ 2,981,322Average AOCL(13,343)(21,929)(19,660)(25,140)Average Assets, Excluding AOCL - Non-GAAP3,069,3363,037,3963,041,2513,006,462Net Income - GAAP$ 10,483$ 7,983$ 36,572$ 27,818Annualized Return on Average Assets-GAAP1.37 %1.06 %1.21 %0.93 %Annualized Return on Average Assets, Excluding AOCL - Non-GAAP1.37 %1.05 %1.20 %0.93 %For the Three Months EndedFor the Year EndedDecember 31,December 31,2025202420252024Return on Average Equity Excluding Accumulated Other Comprehensive Loss (AOCL)Average Stockholders' Equity - GAAP$ 334,595$ 300,258$ 317,676$ 290,094Average AOCL(13,343)(21,929)(19,660)(25,140)Average Stockholders' Equity, Excluding AOCL - Non-GAAP347,938322,187337,336315,234Net Income - GAAP$ 10,483$ 7,983$ 36,572$ 27,818Annualized Return on Average Stockholders' Equity-GAAP12.53 %10.63 %11.51 %9.59 %Annualized Return on Average Stockholders' Equity, Excluding AOCL - Non-GAAP12.05 %9.91 %10.84 %8.82 %For the Three Months EndedFor the Year EndedDecember 31,December 31,2025202420252024Return on Average Tangible EquityAverage Stockholders' Equity - GAAP$ 334,595$ 300,258$ 317,676$ 290,094Average Intangible Assets(88,062)(88,757)(88,308)(89,031)Average Tangible Equity - Non-GAAP246,533211,501229,368201,063Net Income - GAAP$ 10,483$ 7,983$ 36,572$ 27,818Annualized Return on Average Tangible Equity Non-GAAP17.01 %15.10 %15.94 %13.84 %For the Three Months EndedFor the Year EndedDecember 31,December 31,2025202420252024Return on Average Assets and Equity Excluding sale of Braavo assets, net of legal fees and provision associated with Braavo loans remaining after sale Net Income - GAAP$ 10,483$ 7,983$ 36,572$ 27,818After tax gain on sale of Braavo, net of legal fees---(712)After tax provision associated with Braavo loans remaining after sale---1,427Net Income excluding sale of Braavo assets, net of legal fees and provision associated with Braavo loans remaining after sale - Non-GAAP$ 10,483$ 7,983$ 36,572$ 28,533Average Assets3,055,9933,015,4673,021,5912,981,322Annualized Return on Average assets, Excluding sale of Braavo assets, net of legal fees, provision associated with Braavo loans remaining after sale, net of tax - Non-GAAP1.37 %1.06 %1.21 %0.96 %Average Stockholders' Equity - GAAP$ 334,595$ 300,258$ 317,676$ 290,094Annualized Return on Average Stockholders' equity, Excluding sale of Braavo assets, net of legal fees, provision associated with Braavo loans remaining after sale, net of tax - Non-GAAP12.53 %10.63 %11.51 %9.84 %Average Tangible Equity - Non-GAAP246,533211,501229,368201,063Annualized Return on Average Tangible Equity Excluding sale of Braavo assets, net of legal fees, provision associated with Braavo loans remaining after sale, net of tax, - Non-GAAP17.01 %15.10 %15.94 %14.19 %For the Three Months EndedFor the Year EndedDecember 31,December 31,2025202420252024Earnings per share, Excluding sale of Braavo assets, net of legal fees and provision associated with Braavo loans remaining after sale Net Income - GAAP$ 10,483$ 7,983$ 36,572$ 27,818After tax gain on sale of Braavo, net of legal fees---(712)After tax provision associated with Braavo loans remaining after sale---1,427Net income excluding one time items - Non-GAAP$ 10,483$ 7,983$ 36,572$ 28,533Number of shares used in computation - basic4,796,7174,797,1354,797,5204,797,258Basic and Diluted earnings per share, Excluding sale of Braavo assets, net of legal fees, provision associated with Braavo loans remaining after sale, net of tax - Non-GAAP$ 2.19$ 1.66$ 7.62$ 5.95For the Three Months EndedFor the Year EndedDecember 31,December 31,Reconciliation of net interest income on fully taxable equivalent basis2025202420252024Total interest income$ 41,151$ 39,793$ 159,168$ 154,317Total interest expense14,94016,92061,16767,862Net interest income26,21122,87398,00186,455Tax equivalent adjustment3182481,108991Net interest income (fully taxable equivalent) - Non-GAAP$ 26,529$ 23,121$ 99,109$ 87,446SOURCE Citizens Financial Services, Inc.