Citizens munity Bancorp(US:CZWI)2025-10-27 12:36Financial Performance - The Company reported third quarter 2025 earnings of $3.7 million, or $0.37 per diluted share, an increase from $3.3 million, or $0.33 per diluted share in the second quarter of 2025[3]. - For the nine months ended September 30, 2025, earnings were $10.1 million, or $1.02 per diluted share, compared to $11.0 million, or $1.07 per diluted share for the same period in 2024[6]. - Net interest income decreased by $0.1 million to $13.2 million for the third quarter of 2025, compared to $13.3 million in the previous quarter, but increased from $11.3 million in the same quarter of 2024[6]. - Non-interest income increased by $0.2 million to $3.0 million in the third quarter of 2025, driven by higher gains on loan sales[6]. - Net income attributable to common stockholders for the three months ended September 30, 2025, was $3,682 million, an increase of 12.6% from $3,270 million in the previous quarter[39]. - Basic earnings per share for the three months ended September 30, 2025, were $0.37, up from $0.33 in the previous quarter, reflecting a growth of 12.1%[39]. - Net interest income for the nine months ended September 30, 2025, was $38,119,000, compared to $34,766,000 for the same period last year, reflecting a year-over-year increase of 9.5%[47]. Asset and Liability Management - Total assets decreased by $8.2 million to $1.727 billion at September 30, 2025[7]. - The Company reported a decrease in total liabilities to $1,540.172 million as of September 30, 2025, from $1,551.702 million in the previous quarter[37]. - Total loans receivable decreased to $1,323,010 million as of September 30, 2025, from $1,345,620 million in the previous quarter, a decline of 1.7%[40]. - Loans receivable net amounted to $1,300.828 million as of September 30, 2025, compared to $1,324.273 million in the previous quarter[37]. - Total deposits increased slightly to $1,480,554,000 at September 30, 2025, from $1,478,416,000 at June 30, 2025, with consumer deposits comprising 58% of the total[19]. Credit Quality - The provision for credit losses was $0.65 million for the third quarter of 2025, down from $1.35 million in the previous quarter and a negative provision of $0.4 million in the same quarter of 2024[6]. - The allowance for credit losses on loans increased to $22.2 million, representing 1.68% of total loans receivable, compared to 1.59% at June 30, 2025[13]. - Nonperforming assets increased by $3.7 million to $16.7 million at September 30, 2025, compared to $13.0 million at June 30, 2025, due to a $9 million multi-family loan placed on nonaccrual[17]. - Nonperforming loans (NPLs) at amortized cost increased to $15,751 million as of September 30, 2025, compared to $12,130 million in the previous quarter, representing a rise of 29.0%[40]. - The ratio of NPLs to total loans was 1.19% as of September 30, 2025, up from 0.90% in the previous quarter, indicating a deterioration in loan quality[40]. Operational Efficiency - The efficiency ratio was 67% for the quarter ended September 30, 2025, compared to 66% in the previous quarter[12]. - Non-interest expense rose by $0.3 million to $11.1 million from the previous quarter, attributed to higher compensation and medical costs[28]. - Total non-interest expense increased to $11,051 million for the three months ended September 30, 2025, compared to $10,750 million in the previous quarter, an increase of 2.8%[39]. - The efficiency ratio improved to 67% for the three months ended September 30, 2025, down from 72% in the same period last year[43]. Capital Management - The company repurchased approximately 136,000 shares at an average price of $14.93 per share, with 363,000 shares remaining under the current buyback authorization[22]. - Retained earnings rose to $86.913 million as of September 30, 2025, compared to $83.709 million in the previous quarter[37]. - Total stockholders' equity rose to $186,815,000 as of September 30, 2025, from $183,462,000 in the previous quarter, marking an increase of 1.8%[49]. - Tangible book value per share increased to $15.71 as of September 30, 2025, up from $15.15 in the previous quarter, representing a growth of 3.7%[49]. Market and Economic Conditions - The company is focused on maintaining its market share and adapting to technological changes in the banking sector[32]. - Forward-looking statements indicate potential risks including economic conditions, interest rate risk, and competitive pressures[31].