10-K · March 12, 2026
Citizens Financial Services (CZFS) is a community bank holding company focused on retail and commercial banking across north/central/south‑central Pennsylvania, the southern tier of New York and parts of Delaware.…
Earnings analysis · 10-Q
CZFS earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Citizens Financial Services, Inc. reported a strong first quarter for 2026 with revenues of $29.8 million, significantly up from the previous year, and earnings per share (EPS) of $2.16, reflecting a 35.9% increase…
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Citizens Financial Services, Inc. reported a strong first quarter for 2026 with revenues of $29.8 million, significantly up from the previous year, and earnings per share (EPS) of $2.16, reflecting a 35.9% increase year-over-year. Key drivers of this growth included an increase in net interest income and a lower provision for credit losses. However, the bank experienced a rise in non-performing loans, attributed mainly to several commercial real estate relationships that were placed on non-accrual status.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $2.16
- Segment
- Community Banking
What stood out
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Significant Revenue Growth
Revenue reached $29.8 million in Q1 2026, up from $22.4 million in Q1 2025, a 33.8% increase.
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Strong EPS Performance
Diluted EPS for the quarter was $2.16, a notable rise from $1.59 in the prior year, marking a 35.9% increase.
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Solid Net Interest Income
Net interest income increased by 13.5% year-over-year to $26.113 million.
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Increase in Total Loans
Total loans decreased slightly to $2.298 billion, but the composition showed growth in commercial loans.
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Increase in Deposits
Deposits increased by $64.2 million to $2.44 billion, signaling strong customer support.
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Operating Cash Flow Surge
Net cash provided by operating activities increased to $18.018 million from $10.945 million in the prior year.
What to watch
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Rising Non-Performing Loans
Non-performing loans increased to $37.745 million, up 40.7% compared to $26.831 million as of December 31, 2025.
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Economic Sensitivity
Loans to industries dependent on external factors such as commodity prices remain vulnerable, impacting credit quality.
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Potential Regulatory Changes
Changes in regulations could affect capital requirements and operational flexibility.
Management's outlook
Management has not provided specific numeric guidance but emphasizes strong operational performance expectations for 2026.
Earlier filings 4
10-Q · August 8, 2024
Citizens Financial Services reported a quarterly turnaround to net income of $5.275 million versus a loss of $4.144 million in the year-ago quarter, on revenue (net interest income plus noninterest income) of $24.636…
10-Q · November 8, 2022
Citizens Financial Services reported Q3 2022 net income of $7,544,000 (up from $7,064,000 in Q3 2021) and diluted EPS of $1.90 (versus $1.77). Net interest income improved to $18,846,000 (from $16,590,000) and loans…
10-Q · May 9, 2022
Q1 2022 results show stable core interest earnings and deposit/loan growth but weaker noninterest income and a large securities‑related other comprehensive loss. Net income fell to $6,740,000 (diluted EPS $1.71) versus…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.