Financial Performance - Net interest income for Q3 2020 was $11.9 million, compared to $11.6 million in Q3 2019, and for the nine months ended September 30, 2020, it was $36.9 million, up from $31.7 million in the same period of 2019[223]. - Net interest income for the three months ended September 30, 2020, was $11,909 thousand, up from $11,593 thousand in the same period of 2019, representing an increase of 2.7%[229]. - The company reported a net interest income increase of $5,145 thousand for the nine months ended September 30, 2020, compared to the same period in 2019, totaling $36,883 thousand[232]. - Total non-interest income increased by 39.80% to $5,062 million for the three months ended September 30, 2020, compared to $3,621 million in the prior year[243]. - Loan servicing income rose by 60.22% to $1,144 million for the three months ended September 30, 2020, driven by higher mortgage loan origination fees[243]. - Gain on sale of loans increased by 192.64% to $1,987 million for the three months ended September 30, 2020, reflecting higher origination volumes[243]. Interest Margin and Rates - The net interest margin for Q3 2020 was 3.11%, down from 3.34% in Q3 2019, primarily due to the Federal Reserve's actions that lowered overnight interest rates by 125 basis points in March 2020[224]. - For the nine months ended September 30, 2020, the net interest margin was 3.36%, slightly up from 3.35% in the same period of 2019, attributed to an increase in the accretion of purchased credit impaired discounts[225]. - The net interest margin exceeded the interest rate spread due to non-interest-bearing sources of funds supporting interest-earning assets[222]. - The interest rate spread decreased to 2.92% for the three months ended September 30, 2020, down from 3.11% in the same period of 2019[229]. - The average yield on loans decreased to 4.48% for the three months ended September 30, 2020, down from 5.08% in the same period of 2019[229]. Loan and Deposit Growth - The company originated $139 million in SBA Paycheck Protection Program loans during Q3 2020, contributing to the increase in net interest income[223]. - Total deposits rose to $1,064,077 thousand for the three months ended September 30, 2020, compared to $1,005,084 thousand in the same period of 2019, marking a growth of 5.9%[229]. - Loans increased to $1,258,224 thousand for the three months ended September 30, 2020, from $1,143,252 thousand in the same period of 2019, reflecting a growth of 10.1%[229]. - Total loans outstanding increased by $53 million to $1.23 billion as of September 30, 2020, from $1.18 billion at December 31, 2019[265]. - Total loans increased to $12.579 billion as of September 30, 2020, compared to $5.396 billion at December 31, 2019, reflecting a growth of 133%[284]. Allowance for Loan Losses - The allowance for loan losses is based on ongoing assessments of estimated probable incurred losses, considering factors such as historical loss experience and prevailing economic conditions[210]. - The company continues to refine its allowance for loan losses methodology, emphasizing historical performance adjusted for economic and qualitative factors[211]. - The allowance for loan losses increased to $14.8 million at September 30, 2020, representing 1.21% of loans receivable, up from $10.3 million or 0.88% at December 31, 2019[272]. - The allowance for loan losses (ALL) increased to $14,836 million at the end of the period, up from $10,320 million at the beginning of the period, representing a 43.0% increase[279]. - The company added $5,250 million to the ALL via provision for loan losses charged to operations during the period[279]. Asset and Equity Changes - Cash and cash equivalents increased to $115.5 million at September 30, 2020, from $55.8 million at December 31, 2019, reflecting robust deposit levels and loan growth[258]. - Total assets at the end of the period were $1,622,593 million, an increase from $1,531,249 million at the end of the previous year, representing a growth of 6.0%[279]. - Total stockholders' equity rose to $157.3 million at September 30, 2020, from $150.6 million at December 31, 2019, primarily due to net income of $9.2 million[299]. Nonperforming Assets and Loan Performance - Total nonperforming assets (NPAs) decreased by $6.7 million to $14,916 million as of September 30, 2020, from $21,620 million as of December 31, 2019, primarily due to reductions in acquired non-performing loans[281]. - The ratio of nonperforming loans (NPLs) to total loans was 1.15% as of September 30, 2020, down from 1.71% a year earlier, indicating improved loan performance[279]. - Nonperforming assets decreased to $14.9 million or 0.92% of total assets at September 30, 2020, down from $21.6 million or 1.41% at December 31, 2019[284]. Capital and Liquidity - The Bank's Tier 1 capital to risk-weighted assets ratio was 13.7% as of September 30, 2020, exceeding the required minimum of 6.0%[310]. - Total capital to risk-weighted assets ratio was 15.0% as of September 30, 2020, above the minimum requirement of 8.0%[310]. - The Bank's liquidity is considered adequate, with no known events likely to materially affect liquidity[305]. - The Bank could borrow $139.2 million under the Federal Reserve's PPPLF facility as of September 30, 2020[303]. - The Company maintains a line of credit with the Federal Reserve Bank with a capacity of $1.0 million[304].

Financial Performance - Net interest income for Q2 2020 was $12.3 million, up from $10.1 million in Q2 2019, reflecting growth from the F&M acquisition and organic loan growth [215]. - For the six months ended June 30, 2020, net interest income was $25.0 million, compared to $20.1 million for the same period in 2019 [215]. - Net interest income for the three months ended June 30, 2020, was $12,303, compared to $10,083 for the same period in 2019, representing a year-over-year increase of 21.8% [220]. - The net interest income for the six months ended June 30, 2020, was $24,974, up from $20,145 in 2019, reflecting a 24.0% increase [223]. Net Interest Margin - The net interest margin for Q2 2020 was 3.34%, slightly up from 3.30% in Q2 2019, driven by increased accretion of purchased credit impaired discounts [215]. - The net interest margin for the six months ended June 30, 2020, was 3.48%, compared to 3.36% for the same period in 2019 [216]. - The company’s net interest margin for the six-month period, after adjustments, was 3.23%, compared to 3.28% for the same period in 2019 [216]. - The interest rate spread increased to 3.16% for the three months ended June 30, 2020, compared to 3.05% in 2019, while the net interest margin improved to 3.34% from 3.30% [220]. Loan and Deposit Growth - The company originated $137 million in SBA PPP loans during Q2 2020, contributing 4 basis points to the net interest margin [215]. - Total deposits for the six months ended June 30, 2020, were $1,037,658, with interest expense of $5,787, compared to $876,893 and $5,519 in 2019, marking a 18.3% increase in deposits [223]. - Deposits increased by $76.5 million to $1.272 billion at June 30, 2020, from $1.196 billion at December 31, 2019, driven by growth in retail and commercial non-maturity deposits [285]. - Total loans outstanding increased by $103.8 million to $1.28 billion as of June 30, 2020, from $1.18 billion at December 31, 2019 [257]. Allowance for Loan Losses - The allowance for loan losses is based on ongoing assessments of estimated probable incurred losses in the loan portfolio [202]. - The allowance for loan losses increased to $13.4 million at June 30, 2020, representing 1.04% of loans receivable, up from $10.3 million or 0.88% at December 31, 2019 [263]. - The provision for loan losses for the three months ended June 30, 2020, was $1,750, with $1,250 attributed to COVID-19 related impacts, indicating proactive measures in response to economic conditions [232]. - The ratio of ALL to total loans was 1.04% at June 30, 2020, up from 0.88% at December 31, 2019 [276]. Non-Interest Income and Expenses - Non-interest income for the three months ended June 30, 2020, decreased by 4.30% to $5,013 million compared to $5,238 million in the same period of 2019 [238]. - Total non-interest expense increased by 21.33% to $11,392 million for the three months ended June 30, 2020, compared to $9,389 million in the same period of 2019 [246]. - Compensation and related benefits rose by 28.32% to $5,908 million for the three months ended June 30, 2020, compared to $4,604 million in the prior year [246]. - Gain on sale of loans surged by 217.28% to $1,818 million for the three months ended June 30, 2020, compared to $573 million in the same period of 2019 [238]. Asset Quality - Nonperforming assets decreased by $4.2 million to $17.4 million at June 30, 2020, from $21.6 million at December 31, 2019 [274]. - Total nonaccrual loans amounted to $14.8 million at June 30, 2020, down from $19.1 million at March 31, 2020 [276]. - The total nonperforming loans (NPLs) were $16.7 million at June 30, 2020, down from $20.2 million at the same time last year [276]. - Impaired loans totaled $51.7 million at June 30, 2020, down from $63.2 million at December 31, 2019, with 343 impaired loans identified [262]. Capital and Liquidity - Total stockholders' equity increased to $152.8 million at June 30, 2020, from $150.6 million at December 31, 2019, largely due to net income of $5.7 million [293]. - The company was categorized as "Well Capitalized" under Prompt Corrective Action Provisions as of June 30, 2020 [306]. - The Tier 1 capital to risk-weighted assets ratio was 12.9% as of June 30, 2020, above the required 6.0% [303]. - The company reported a Tier 1 leverage ratio of 9.9% as of June 30, 2020, exceeding the minimum requirement of 4.0% [303]. Risk Management - The company’s interest rate risk is significant, with net interest income projected to change by 1% with a 300 basis point increase in interest rates as of June 30, 2020 [313]. - The company adopted asset and liability management policies to align maturities and re-pricing terms of interest-earning assets and interest-bearing liabilities [310]. - The company plans to manage funding needs by utilizing core deposits and brokered certificates of deposits to extend terms and lock in fixed interest rates [310].

Financial Performance - Net interest income for the three months ended March 31, 2020, was $12.7 million, an increase from $10.1 million for the same period in 2019, driven by growth from the F&M acquisition and organic loan growth [208]. - The net interest margin for the three-month period ended March 31, 2020, was 3.64%, up from 3.43% for the same period in 2019, primarily due to increased accretion of purchased credit impaired discounts [208]. - Net interest income for Q1 2020 was $12,671 million, up from $10,062 million in Q1 2019, reflecting an increase of 25.9% [212]. - Total non-interest income rose to $3,603 million in Q1 2020, a 54.5% increase from $2,332 million in Q1 2019, largely driven by the F&M acquisition [221]. - Gains on the sale of loans increased by 153.25% to $780 million in Q1 2020 from $308 million in Q1 2019, attributed to higher mortgage activity [221]. - Non-interest expense for Q1 2020 was $10,731 million, an 8.46% increase from $9,894 million in Q1 2019, influenced by the F&M acquisition [230]. - Compensation and benefits expense increased by 15.49% to $5,435 million in Q1 2020 from $4,706 million in Q1 2019, reflecting higher salaries and employee benefit costs [230]. Loan and Asset Management - The company maintains an allowance for loan losses based on ongoing assessments of estimated probable incurred losses in its loan portfolio [196]. - Total provision for loan losses for Q1 2020 was $2,000 million, compared to $1,225 million in Q1 2019, indicating a significant increase due to anticipated economic impacts from COVID-19 [218]. - Total loans outstanding increased by $3.6 million to $1.181 billion as of March 31, 2020, from $1.177 billion at December 31, 2019 [243]. - The total allowance for loan losses was $11.835 million as of March 31, 2020, compared to $10.320 million at December 31, 2019 [245]. - The composition of the loan portfolio included $520.15 million in commercial real estate loans as of March 31, 2020, up from $514.46 million at December 31, 2019 [245]. - Total impaired loans decreased to $56.0 million at March 31, 2020, from $63.2 million at December 31, 2019, reflecting a reduction in classified assets and certain acquired loan decreases [259]. - Nonperforming assets decreased by $2.4 million to $19.2 million, primarily due to decreases in nonaccrual loans acquired in the F&M acquisition [257]. Capital and Liquidity - Total stockholders' equity decreased to $147.9 million at March 31, 2020, from $150.6 million at December 31, 2019, with a book value per share of $13.27 [274]. - The Tier 1 capital ratio was 12.6% as of March 31, 2020, exceeding the required minimum of 6.0% for being considered "Well Capitalized" [279]. - The Company had $208.2 million in unused commitments as of March 31, 2020, down from $246.7 million at December 31, 2019 [278]. - The Bank's on-balance sheet liquidity ratio was 12.2% as of March 31, 2020, with $240.1 million of its $382.3 million (63%) CD portfolio maturing within the next 12 months [275]. - As of March 31, 2020, the Bank had approximately $193.6 million available under its borrowing arrangement with the Federal Home Loan Bank, compared to $203.9 million at December 31, 2019 [276]. Market and Economic Conditions - The company emphasizes the importance of maintaining its reputation and market share amidst competitive pressures and economic conditions [192]. - Interest rate risk is identified as the most significant market risk affecting the company's operations, influenced by changes in market interest rates and economic conditions [284]. - The Asset and Liability Management Committee (ALCO) regularly reviews economic conditions and interest rate outlook to manage interest rate risk and liquidity needs [285]. - The estimated change in Economic Value of Equity (EVE) for a +300 basis points shift in interest rates was a 1% increase as of March 31, 2020 [289]. - For a -100 basis points shift in interest rates, the EVE showed a 12% decrease as of March 31, 2020 [289]. Tax and Regulatory Compliance - The company’s financial statements are prepared in accordance with GAAP, requiring significant estimates and judgments that can materially affect reported amounts [195]. - The assessment of deferred tax assets involves estimates and assumptions that could materially impact the company's consolidated results [204]. - Income tax expense for Q1 2020 was $937 million, up from $322 million in Q1 2019, reflecting similar effective tax rates in both periods [234].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 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 001-33003 CITIZENS COMMUNITY BANCORP, INC. (Exact name of registrant as specified in its charter) Maryland 20-5120010 (State or other jur ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 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 001-33003 CITIZENS COMMUNITY BANCORP, INC. (Exact name of registrant as specified in its charter) Maryland 20-5120010 (State or ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 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 001-33003 CITIZENS COMMUNITY BANCORP, INC. (Exact name of registrant as specified in its charter) Maryland 20-5120010 (State or other ...

Financial Performance - Net interest income before provision for loan losses rose to $10,062 thousand for the three months ended March 31, 2019, compared to $7,356 thousand for the same period in 2018, an increase of 36.8%[15] - Net income attributable to common stockholders decreased to $953 thousand for the three months ended March 31, 2019, down from $1,341 thousand in 2018, a decline of 29.0%[15] - Total non-interest income for the three months ended March 31, 2019, was $2,332 thousand, up from $1,675 thousand in 2018, marking a growth of 39.2%[15] - Total non-interest expense increased to $9,894 thousand for the three months ended March 31, 2019, compared to $7,103 thousand in 2018, an increase of 39.2%[15] - Comprehensive income for the three months ended March 31, 2019, was $2,117 thousand, compared to $270 thousand in 2018, a substantial increase[16] - Basic earnings per share for the three months ended March 31, 2019, were $0.09, down from $0.23 in the same period of 2018, a decrease of 60.9%[13] Asset and Liability Management - Total assets increased to $1,326,590 thousand as of March 31, 2019, up from $1,287,924 thousand at December 31, 2018, representing a growth of 3.0%[11] - Total liabilities increased to $1,188,210 thousand as of March 31, 2019, up from $1,149,737 thousand at December 31, 2018, a growth of 3.3%[11] - Total deposits increased to $1,030,649 thousand as of March 31, 2019, compared to $1,007,512 thousand at December 31, 2018, reflecting a growth of 2.3%[11] - Total cash and cash equivalents at the end of the period were $41,358,000, up from $31,468,000 year-over-year[23] Loan and Credit Quality - Provision for loan losses increased to $1,225 thousand for the three months ended March 31, 2019, compared to $100 thousand in the same period of 2018, indicating a significant rise in risk assessment[15] - The allowance for loan losses increased to $8,707 thousand as of March 31, 2019, from $7,604 thousand at December 31, 2018, reflecting a proactive approach to credit risk management[11] - Total originated loans amounted to $667,480 million, with $651,610 million rated as 1 to 5 (Pass) loans[106] - Nonperforming loans totaled $11,584 million as of March 31, 2019, compared to $8,090 million on December 31, 2018, indicating an increase of approximately 43.5%[120] - The total amount of loans categorized as "Current" was $1,005,686 million as of March 31, 2019, compared to $982,287 million on December 31, 2018, reflecting an increase of about 2.4%[122] Investment and Securities - The Company recognized total available for sale securities with an estimated fair value of $160,201 as of March 31, 2019, with gross unrealized losses of $1,410[86] - The estimated fair value of total available for sale securities was $160.201 billion as of March 31, 2019, compared to $146.725 billion as of December 31, 2018, marking an increase of about 9.1%[90] - The total unrealized losses for available for sale securities as of March 31, 2019, were $1.410 billion, compared to $2.642 billion as of December 31, 2018, indicating a reduction of approximately 46.6%[93] - The fair value of investment securities as of March 31, 2019, was $160,201 million, compared to $146,725 million as of December 31, 2018[167] Operational Changes and Strategic Initiatives - The company is in the process of selling a branch located in Michigan, expected to be completed in Q2 2019[31] - The company entered into a merger agreement with F. & M. Bancorp, indicating a strategy for market expansion[30] - The company adopted ASU 2014-09, which did not have a material impact on its consolidated financial statements, effective for annual and interim periods beginning in the first quarter of 2019[82] - The Company is assessing the impact of ASU 2016-13, which changes the accounting for credit losses, effective in the first quarter of 2020[84] Shareholder Returns - Cash dividends paid remained stable at $0.20 per share for both the three months ended March 31, 2019, and 2018[15] - Cash dividends paid amounted to $2,198,000, compared to $1,181,000 in the previous year[24]