J. Michael Jones FCNCA reported 6.2% annualised loan growth and 10.4% annualised deposit growth, which significantly exceeds growth at most other regional banks. Loan growth was predominantly driven by the General and Commercial banking segments, but the SVB franchise also reported net loan growth for the first time since acquisition. On the liability side of things, deposit grew strongly in the General Bank due to growth in the branch network, which offset a decline in SVB deposits due to cash burn by inve ...

RALEIGH, N.C., May 29, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Middle Market Banking business provided $31.5 million in financing to national fashion retailer Jaclyn LLC for the purchase of a newly constructed industrial warehouse and distribution center in Southern California. The warehouse comprises more than 233,000 square feet and will serve as the new West Coast shipping and distribution center for Jaclyn and its affiliated companies of the Golden Touch Group, providers of mer ...

NEW YORK, May 28, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Commercial Real Estate business served as sole lender on a $74 million senior secured loan to Lonicera Partners on a 23-story, class A multifamily building in Downtown Brooklyn, New York. Located at 310 Livingston Street, the building features 160 luxury apartment units and over 8,600 square feet of ground floor retail and premier amenity space. "We're pleased to partner with First Citizens Commercial Real Estate on this fin ...

u or Life of HARLA HISTOR HBARL ungla Holly TCHEVAL The No. "D. BOL PROPER NBART "24","2" SCHOOL THE CASE f 1 NGCOL Hide # and and on and and and and sitox Citizens Community Bancorp, Inc. (NASDAQ:CZWI), incorporated in 2004 and headquartered in Eau Claire, Wisconsin, provides banking services to businesses, consumers, and agricultural operators in Wisconsin and Minnesota. While the current dividend yield may seem unattractive for many investors these days, a closer look reveals that this is a dividend grow ...

Capital Standards Under those guidelines, assets and off-balance sheet items are assigned to broad risk categories, each with appropriate weights. The resulting capital ratios represent capital as a percentage of total risk-weighted assets and off-balance sheet items. Under the current risk-based capital adequacy guidelines, we are required to maintain (1) a ratio of common equity Tier 1 capital ("CET1") to total risk-weighted assets of not less than 4.5%; (2) a minimum leverage capital ratio of 4%; (3) a m ...

PHILADELPHIA, Miss.--(BUSINESS WIRE)--Citizens Holding Company (the “Company”) (OTCQX:CIZN) announced today results of operations for the three and twelve months ended December 31, 2023. (in thousands, except share and per share data) Net loss for the three months ended December 31, 2023 was ($794), or ($0.14) per share-basic and diluted, a linked-quarter decrease of ($2,001), or (165.78%) from net income of $1,207, or $0.22 per share-basic and diluted, for the three months ended September 30, 2023. Net ...

PHILADELPHIA, Miss.--(BUSINESS WIRE)--Citizens Holding Company (the “Company”) (OTCQX:CIZN), the holding company for The Citizens Bank of Philadelphia (the “Bank”), today announced it has executed an agreement for sale-leaseback of 3 of its currently owned properties. The properties will be sold for an aggregate cash purchase price of approximately $11 million. The Company expects to realize a pre-tax gain of approximately $4.5 million (after transaction-related expenses). The transaction closed on January ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-15375 CITIZENS HOLDING COMPANY (Exact name of registrant as specified in its charter) Mississippi 64-0666512 (St ...

Capital Adequacy - Total shareholders' equity increased to $40,141 at June 30, 2023, compared to $39,025 at December 31, 2022, due to a change in AOCI from decreased medium-term interest rates [215]. - The Tier 1 leverage ratio for the Company was 8.17% at June 30, 2023, compared to 7.96% at December 31, 2022, indicating improved capital adequacy [217]. - The Company and Bank are considered well capitalized as of June 30, 2023, meeting all capital adequacy requirements under Basel III [219]. - The total risk-based capital ratio for the Company was 14.28% at June 30, 2023, compared to 13.83% at December 31, 2022, reflecting a stronger capital position [217]. - The minimum capital requirements under Basel III include a common equity Tier 1 capital ratio of at least 4.5% and a total risk-based capital ratio of at least 8% [243]. Liquidity - The liquidity ratio was 13.39% at June 30, 2023, down from 14.58% at December 31, 2022, attributed to a decrease in interest-bearing cash and cash equivalents [212]. - The Company had $190,612 of unused and available line of credit with the FHLB as of June 30, 2023, an increase from $160,488 at December 31, 2022, due to more loans being eligible for the collateral pool [213]. - Management believes it has sufficient liquidity options available for short-term funding needs [215]. - The Company maintains an asset and liability management program to manage net interest margins and liquidity effectively [212]. Interest Income and Expenses - Net interest income for the three months ended June 30, 2023, was $7,414 million, a decrease from $8,763 million in the same period of 2022, reflecting a decline of 15.4% [220]. - The company reported an increase in interest expense to $3,744 million for the three months ended June 30, 2023, compared to $797 million in the same period of 2022, reflecting a rise of 369.4% [220]. - The cost of funds increased to 147 bps for the three months ended June 30, 2023, compared to 33 bps for the same period in 2022 [248]. - The net interest margin for the three months ended June 30, 2023, was 2.55%, down from 2.78% in the same period of 2022, indicating a contraction in profitability [224]. - The annualized net interest margin decreased to 2.55% for the three months ended June 30, 2023, down from 2.78% in the same period of 2022 [248]. - The net interest margin is expected to contract further in Q3 2023 before leveling off for the remainder of the year [264]. Credit Losses - Provision for credit losses (PCL) increased to $417 million for the three months ended June 30, 2023, compared to $56 million in the same period of 2022, indicating a significant rise in credit risk [220]. - The provision for credit losses (PCL) for the three months ended June 30, 2023 was $417, influenced by inflationary risk concerns [270]. - The Company's Allowance for Credit Losses (ACL) increased by 21.52% to $6,397 in 2023 from $5,264 in 2022 [255]. - The net loan losses recovered to the ACL totaled $11 for the three months ended June 30, 2023, a decrease of $203 from $214 in the same period of 2022 [271]. - The ACL to gross loans ratio improved to 1.11% in 2023 from 0.90% in 2022 [255]. Income and Expenses - Net income for the three months ended June 30, 2023, was $300 million, down from $2,541 million in the same period of 2022, representing a decline of 88.2% [220]. - Other income for the three months ended June 30, 2023 was $2,261, a decrease of $502, or (18.17%), from $2,763 in the same period of 2022 [273]. - Aggregate non-interest expenses for the three months ended June 30, 2023 were $9,037, an increase of $605, or 7.18%, compared to $8,432 for the same period in 2022 [273]. - Salaries and benefits increased $298, or 6.75%, to $4,710 for the three months ended June 30, 2023 compared to the same period in 2022 [273]. - The Company's efficiency ratio for the three months ended June 30, 2023 was 92.64%, compared to 71.83% for the same period in 2022 [277]. Asset and Deposit Trends - Total assets as of June 30, 2023, were $1,329,981 million, a slight decrease from $1,334,523 million as of June 30, 2022, a decline of 0.3% [224]. - Customer deposits decreased from $1,126,402 at December 31, 2022, to $1,103,072 at June 30, 2023 [238]. - Total deposits for the three months ended June 30, 2023, were $823,756 million, slightly down from $827,513 million in the same period of 2022, a decrease of 0.9% [224]. - Total assets decreased by $34,664, or (2.62%), to $1,289,339 at June 30, 2023 from $1,324,003 at December 31, 2022 [286]. - Total deposits decreased by $23,330, or (2.07%), to $1,103,072 at June 30, 2023 from $1,126,402 at December 31, 2022 [286]. Securities and Investments - The total value of securities held-to-maturity was $92.885 billion, slightly up from $92.840 billion at December 31, 2022 [294]. - The amortized cost of available-for-sale securities was $236.544 billion, with an estimated fair value of $196.866 billion as of June 30, 2023 [301]. - The company reported a total of $363.175 billion in residential and commercial mortgage-backed securities, with total unrealized losses of $33.756 billion [297]. - The company had no securities classified as nonaccrual as of June 30, 2023 [293]. - As of June 30, 2023, the company had no securities held-to-maturity that were past due 30 days or more [293]. Risk Management - The company uses an interest rate risk simulation model to evaluate the sensitivity of net interest income, with a projected decrease of 14.0% in net interest income under a +400 basis points scenario [106]. - The economic value of equity at risk decreased by 30.5% under a +300 basis points scenario as of June 30, 2023 [106]. - The company emphasizes the origination of shorter duration and variable rate loans to mitigate exposure to interest rate increases [107]. - The company plans to review its assumption of expected credit loss being zero for certain securities quarterly [292]. - The company does not typically enter into derivative contracts for managing interest rate risk but may consider it if necessary [100].

FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Mississippi 64-0666512 (State or other jurisdiction of Company or organization) (IRS Employer Identification No.) | --- | --- | --- | |---------------------------------------|---------------------|-----------------------------------------------------| | Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered | | Common Stock, $0.20 par value | CIZN | NASDAQ Global Market | Large a ...