CORRECTING and REPLACING Citizens Holding Company Reports Earnings

Core Viewpoint - Citizens Holding Company reported significant growth in net income and earnings per share for the three and nine months ended September 30, 2025, driven by loan growth and improved profitability metrics. Financial Performance - Net income for the three months ended September 30, 2025, was $2,357, or $0.42 per share, representing a 27.6% increase from the previous quarter and a 641.23% increase from the same quarter in 2024 [3][4]. - For the nine months ended September 30, 2025, net income was $6,057, or $1.08 per share, an increase of 1773.7% from a net loss of $362 in the same period in 2024 [4][28]. Loan and Deposit Growth - Total loans held for investment (LHFI) as of September 30, 2025, totaled $831,202, reflecting a 1.6% increase from the previous quarter and a 16.82% increase year-over-year [9][10]. - Total deposits as of September 30, 2025, were $1,182,358, a decrease from $1,265,573 at June 30, 2025, but an increase from $1,092,738 at September 30, 2024 [11]. Net Interest Income and Margin - Net interest income for the three months ended September 30, 2025, was $10,952, a 2.4% increase from the previous quarter and a 25.0% increase from the same period in 2024 [12][14]. - The net interest margin (NIM) increased to 3.20% for the three months ended September 30, 2025, up from 3.08% in the previous quarter and 2.40% in the same period in 2024 [9][12]. Credit Quality - Credit quality metrics remained strong, with non-performing assets (NPA) to loans at 0.85% as of September 30, 2025, compared to 0.82% at June 30, 2025 [9][16]. - The allowance for credit losses (ACL) to loans was 1.04% at September 30, 2025, up from 1.00% in the prior quarter [9][18]. Noninterest Income and Expense - Noninterest income for the three months ended September 30, 2025, increased by 15.2% compared to the previous quarter, primarily due to an increase in service charges on deposit accounts [22][23]. - Noninterest expense increased by 2.3% for the three months ended September 30, 2025, compared to the previous quarter, driven by higher salaries and employee benefits [26][27]. Capital Position - The company maintained a strong capital position, with a Tier 1 leverage ratio of 7.44% and a common equity tier 1 capital ratio of 10.90% as of September 30, 2025 [20][31]. - Tangible book value per common share increased to $7.96 as of September 30, 2025, up from $6.67 at June 30, 2025 [9][31].