Net Income and Profitability - Net income for Q1 2024 increased by $157,000 or 2.3% to $7,024,000 compared to Q1 2023[1] - Net income for Q1 2024 was $7.0 million, a 2.3% increase compared to Q1 2023, driven by a pre-tax gain of approximately $900,000 from the sale of Braavo assets[13] - Net income was $7,024 million, compared to $6,867 million in the previous period[2] - Income before provision for income taxes was $8,501 million, compared to $8,476 million in the previous period[1] - Provision for income tax expense was $1,477 million, compared to $1,609 million in the previous period[1] - Net income per common share (basic and diluted) was $1.49, compared to $1.71 in the previous period[4] Net Interest Income and Margin - Net interest income before provision for credit losses increased by $2,878,000 or 15.9% to $20,958,000 in Q1 2024[1] - Net interest income before provision for credit losses increased by $2.9 million (15.9%) to $21.0 million in Q1 2024, primarily due to the HVB acquisition[13] - Net interest income rose to $21.2 million in Q1 2024, compared to $18.4 million in Q1 2023[17] - Net interest income is $20,958,180,080[19] - Tax equivalent adjustment is $250,271[19] - Non-GAAP net interest income (fully taxable equivalent) is $21,208,000,000[19] - Non-GAAP net interest income (fully taxable equivalent) increased by $2,857,000,000 compared to the previous period[19] - Net interest margin decreased to 3.05% in Q1 2024 from 3.30% in Q1 2023[17] - Net interest income after provision for credit losses stood at $20.2 million in Q1 2024, compared to $18.1 million in Q1 2023, a 11.6% increase[20] Loans and Credit Quality - Average loans increased by $563.1 million in Q1 2024 primarily due to the HVB acquisition[1] - Net loans decreased by $9.6 million to $2.22 billion at March 31, 2024 due to student loan reductions and Braavo asset sales[5] - Loans (net of unearned income) increased to $2.2 billion in Q1 2024, up from $1.7 billion in Q1 2023[15] - Net loans increased to $2,218.1 million in March 2024, up from $1,708.2 million in March 2023[16] - Average loan balances increased to $2,297.2 million in Q1 2024, up from $1,734.1 million in Q1 2023[17] - Residential mortgage loans grew to $357.8 million in March 2024, up from $212.8 million in March 2023[18] - Commercial real estate loans increased to $1,115.9 million in March 2024, compared to $879.0 million in March 2023[18] - Construction loans expanded significantly to $184.5 million in March 2024, up from $75.7 million in March 2023[18] - Allowance for credit losses increased by $445,000 to $21,598,000 at March 31, 2024, representing 0.96% of total loans[5] - Allowance for credit losses on loans increased to $21.6 million in March 2024, compared to $15.3 million in March 2023[18] - Non-performing assets increased by $4.8 million to $15.7 million as of March 31, 2024, representing 0.70% of total loans, up from 0.63% in Q1 2023[13] - Provision for credit losses was $785,000 in Q1 2024, compared to no provision in Q1 2023[20] Non-Interest Income and Expenses - Total non-interest income increased by $2,797,000 to $4,971,000 in Q1 2024 driven by gains from asset sales and HVB acquisition[1] - Non-interest income rose to $5.0 million in Q1 2024, up from $2.2 million in Q1 2023, marking a 127.3% year-over-year growth[20] - Gains on loans sold amounted to $417,000 in Q1 2024, up from $45,000 in Q1 2023, reflecting a significant 826.7% growth[20] - Gains on the sale of the Braavo division contributed $1.1 million to non-interest income in Q1 2024[20] - Total non-interest expenses increased by $4,865,000 or 41.3% to $16,643,000 in Q1 2024 due to acquisition-related costs and salary increases[1] - Total non-interest expenses increased to $16.6 million in Q1 2024, up from $7.0 million in Q1 2023, a 137.1% rise[20] - Salaries and employee benefits expenses grew to $10.3 million in Q1 2024, compared to $7.7 million in Q1 2023, a 33.8% increase[20] Deposits and Assets - Total assets decreased to $2.92 billion at March 31, 2024 from $2.98 billion at December 31, 2023[5] - Total assets increased to $2.9 billion in Q1 2024, up from $2.3 billion in Q1 2023, driven by the HVB acquisition[15] - Total assets decreased to $2,921.1 million as of March 31, 2024, compared to $2,975.3 million at the end of December 2023[16] - Deposits decreased by $18.7 million to $2.30 billion at March 31, 2024 due to customer withdrawals for projects and bond payments[5] - Deposits increased to $2.3 billion in Q1 2024, up from $1.8 billion in Q1 2023[15] - Total deposits slightly decreased to $2,302.9 million in March 2024 from $2,321.5 million in December 2023[16] Equity and Shareholder Metrics - Stockholders' equity increased by $3.0 million to $282.7 million at March 31, 2024, excluding AOCI[5] - Tangible book value per share decreased to $46.76 in Q1 2024 from $51.73 in Q1 2023[15] - Return on average equity (annualized) decreased to 9.10% in Q1 2024 from 11.49% in Q1 2023[13] - Return on average tangible equity (annualized) decreased to 12.80% in Q1 2024 from 13.30% in Q1 2023[13] - Cash dividends paid were $0.490 per share, compared to $0.480 in the previous period[6] - Number of shares used in computation (basic) was 4,701,853, compared to 4,005,370 in the previous period[8] - Number of shares used in computation (diluted) was 4,701,853, compared to 4,005,375 in the previous period[8] Interest Income and Expense - Total interest income increased to $37.9 million in Q1 2024, up from $25.1 million in Q1 2023, reflecting a 51.2% year-over-year growth[20] - Total interest expense is $16,975,727,027[19] - Total interest expense increased to $17.0 million in Q1 2024, up from $7.0 million in Q1 2023, a 142.9% rise[20] Employee Metrics - Average full-time equivalent employees increased to 394.1 in Q1 2024 from 313.2 in Q1 2023[15] Other Financial Metrics - Equity security gains (losses) showed a net gain of $55,000 in Q1 2024, compared to a net loss of $218,000 in Q1 2023[20]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 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 000-13222 CITIZENS FINANCIAL SERVICES, INC. (Exact name of registrant as specified in its charte ...

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 0-13222 CITIZENS FINANCIAL SERVICES, INC. (Exact name of registrant as specified in its charter) ( ...

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 June 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 0-13222 CITIZENS FINANCIAL SERVICES, INC. (Exact name of registrant as specified in its charter) (State ...

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 March 31, 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 0-13222 CITIZENS FINANCIAL SERVICES, INC. PENNSYLVANIA 23-2265045 (State or other jurisdiction of inco ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 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 000-13222 CITIZENS FINANCIAL SERVICES, INC. (Exact name of registrant as specified in its charte ...

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, 2022 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 0-13222 CITIZENS FINANCIAL SERVICES, INC. (Exact name of registrant as specified in its charter) P ...

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 June 30, 2022 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 0-13222 PENNSYLVANIA 23-2265045 (State or other jurisdiction of incorporation or organization) (I.R.S. ...

2Q22 Financial Results July 19, 2022 Forward-looking statements and use of non-GAAP financial measures This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements regarding potential future share repurchases and future dividends as well as the potential effects of the COVID-19 disruption and Russia's invasion of Ukraine on our business, operations, financial performance and prospects, are forward-looking statements. Also, any state ...

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 March 31, 2022 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 0-13222 CITIZENS FINANCIAL SERVICES, INC. (Exact name of registrant as specified in its charter) PENNS ...