Citizens munity Bancorp(US:CZWI)2026-01-26 13:33Earnings Performance - Fourth quarter 2025 earnings were $4.3 million, or $0.44 per diluted share, up from $3.7 million, or $0.37 per diluted share in Q3 2025, and $2.7 million, or $0.27 per diluted share in Q4 2024[5] - For the twelve months ended December 31, 2025, earnings totaled $14.4 million, or $1.46 per diluted share, compared to $13.8 million, or $1.34 per diluted share for the prior year[5] - Net income attributable to common stockholders for the twelve months ended December 31, 2025, was $14,420 thousand, up from $13,751 thousand in 2024, reflecting a growth of 4.9%[37] - Basic earnings per share for the three months ended December 31, 2025, were $0.44, compared to $0.27 for the same period in 2024, an increase of 62.9%[37] Asset and Deposit Growth - Total assets increased by $54.8 million to $1.782 billion at December 31, 2025[6] - Total deposits increased by $43.5 million to $1.524 billion, driven by retail consumer deposits growth of $33.9 million and seasonal public deposits growth of $12.1 million[11] - Total deposits reached $1.524 billion as of December 31, 2025, up from $1.481 billion on September 30, 2025, reflecting a growth of 2.9%[17] - Consumer deposits accounted for 58% of the total deposit portfolio, with a balance of $889.1 million as of December 31, 2025[17] - Cash and cash equivalents increased to $118,853 thousand as of December 31, 2025, from $82,431 thousand as of September 30, 2025, a growth of 43.9%[35] Loan Performance - Loan growth of $17.3 million, or 1.3%, and deposit growth of $43.5 million, or 2.9%, were reported in Q4 2025 compared to Q3 2025[3] - Loans receivable, net, stood at $1,317,924 thousand as of December 31, 2025, compared to $1,300,828 thousand as of September 30, 2025, indicating a growth of 1.6%[35] - Total loans receivable as of December 31, 2025, amounted to $1,340,325, showing a slight increase from $1,323,010 in the previous quarter[38] - Nonperforming loans (NPLs) to total loans ratio was 1.18% as of December 31, 2025, compared to 1.19% in the prior quarter[38] - Total nonperforming assets (NPAs) reached $16,711 as of December 31, 2025, up from $16,661 in the previous quarter[38] Interest Income and Margin - The net interest margin decreased by 5 basis points to 3.15% in Q4 2025, but increased by 36 basis points from Q4 2024[5] - Net interest income decreased slightly to $13.1 million for the quarter ended December 31, 2025, compared to $13.2 million for the previous quarter, but increased from $11.7 million year-over-year[21] - Net interest income for the quarter ended December 31, 2025, was $13,065, with a net interest margin of 3.15%[39] - Average interest-earning assets for the quarter ended December 31, 2025, were $1,644,729, generating interest income of $21,771, resulting in a yield of 5.25%[39] - The average interest rate spread for the quarter ended December 31, 2025, was 2.56%[39] Expenses and Efficiency - Non-interest income decreased by $0.3 million to $2.7 million in the fourth quarter of 2025, primarily due to lower gains on the sale of loans[23] - Non-interest expense decreased to $10.7 million in the fourth quarter of 2025, down from $11.1 million in the previous quarter[24] - Efficiency ratio improved to 68% for the twelve months ended December 31, 2025, compared to 72% in the previous year[45] Capital and Dividends - The Board approved a quarterly dividend of $0.105 per share, intended to replace the previous annual dividend structure[11] - Tangible book value per share at the end of the period was $16.23, up from $15.71 at the end of the previous quarter, an increase of 3.3%[37] - Total stockholders' equity was $187,939,000 as of December 31, 2025, compared to $186,815,000 in the previous quarter and $179,084,000 a year ago[48] - Tangible common equity (non-GAAP) was $156,046,000 as of December 31, 2025, compared to $154,809,000 in the previous quarter and $146,607,000 a year ago[44] Share Repurchase - The company repurchased approximately 250,000 shares at an average price of $15.99 per share during the quarter[20] - The company has approximately 113,000 shares remaining for repurchase under the current buyback authorization plan as of December 31, 2025[20] Tax and Provisions - The effective tax rate decreased to 12.6% in Q4 2025 from 18.8% in Q3 2025[5] - The provision for credit losses was $0.20 million in Q4 2025, down from $0.65 million in Q3 2025, and a negative provision of $0.45 million in Q4 2024[5] - The allowance for credit losses on loans was $22.4 million, representing 1.67% of total loans[11] - The allowance for credit losses was $22,401 thousand as of December 31, 2025, compared to $22,182 thousand as of September 30, 2025, reflecting a slight increase of 1.0%[35]