Citizens Financial Services ( (CZFS) ) has released its Q1 earnings. Here is a breakdown of the information Citizens Financial Services presented to its investors.
Citizens Financial Services, Inc., the parent company of First Citizens Community Bank, operates in the financial services sector, primarily focusing on banking services. The company is known for its community-oriented approach and has a significant presence in Pennsylvania.
In its latest earnings report for the first quarter of 2025, Citizens Financial Services, Inc. reported a net income of $7.6 million, marking an 8.5% increase from the same period in 2024. This growth was attributed to an increase in net interest income and a decrease in interest expenses on borrowings.
Key financial metrics from the report include a net interest income of $23 million, which rose by 9.8% compared to the previous year, and a return on average equity of 10.00%. The company also noted a decrease in non-performing assets since December 2024, although these assets were higher compared to March 2024 due to acquisitions.
Despite a challenging interest rate environment, Citizens Financial Services managed to maintain a stable balance sheet with total assets of $3.02 billion as of March 31, 2025. The company declared a cash dividend of $0.495 per share, reflecting a 2.1% increase over the previous year.
Looking ahead, Citizens Financial Services remains focused on enhancing its financial performance and managing its asset quality, while navigating the competitive pressures in the banking industry.