Business
CITIZENS FINANCIAL SERVICES, INC. REPORTS UNAUDITED FULL YEAR AND FOURTH QUARTER 2025 FINANCIAL RESULTS
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.
About this update from Citizens Financial Services, Inc.
[{"type":"text","content":"MANSFIELD, Pa., Jan. 29, 2026 /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.","length":281,"tagName":"p"},{"type":"text","content":"Highlights","length":10,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net income was $36,572,000 for 2025, which is $8,754,000, or 31.5%, more than 2024's net income due to the increase in net interest income after the provision for credit losses of $11,758,000. The effective tax rate for 2025 was 18.9% compared to 17.4% in 2024.","length":265,"tagName":"p"}]},{"val":[{"type":"text","content":"Net income was $10,483,000 for the three months ended December 31, 2025, which was $2,500,000 more than the net income for 2024's comparable period due to an increase in net interest income after the provision for credit losses of $2,838,000. The effective tax rate for the three months ended December 31, 2025 was 19.0% compared to 16.4% in the comparable period in 2024.","length":376,"tagName":"p"}]},{"val":[{"type":"text","content":"Net interest income before the provision for credit losses was $98,001,000 for 2025, an increase of $11,546,000, or 13.4%, over 2024 and was primarily due to an increase in investment income and a decrease in interest expense.","length":226,"tagName":"p"}]},{"val":[{"type":"text","content":"The provision for credit losses for the three months and the year ended December 31, 2025 was $500,000 and $2,375,000, respectively, compared to no provision and $2,587,000 for the three months and the year ended December 31, 2024, respectively. The provision for the 2025 periods was driven by the current economic forecasts and specific reserves for non-accrual loans at December 31, 2025. The provision for 2024 was significantly impacted by loans that were not sold as part of the sale of a division known as Braavo that occurred in the first quarter of 2024. The vast majority of the Braavo loans that were retained after the sale were originated by Huntington Valley Bank in 2023 prior to the acquisition and were current as of the acquisition date in 2023. The provision for 2024, directly attributable to these loans, was $1,806,000.","length":841,"tagName":"p"}]...