CZFS

MANSFIELD, Pa., July 30, 2026 /PRNewswire/ -- Citizens Financial Services, Inc (Nasdaq: CZFS), parent company of First Citizens Community Bank (the "Bank"), released today its unaudited consolidated financial results for the three and six months ended June 30, 2026. Highlights Net income for the first six months of 2026 was $20.6 million, which was $4.5 million, or 27.9% more than 2025's net income through June 30, 2025 due to the increase in net interest income after the provision for credit losses of $5.5 million. The effective tax rate for the first six months of 2026 was 17.9% compared to 19.1% in the comparable period in 2025. Net income was $10.2 million for the three months ended June 30, 2026, which was $1.7 million more than the net income for 2025's comparable period due to an increase in net interest income after the provision for credit losses of $2.3 million. The effective tax rate for the three months ended June 30, 2026 was 17.5% compared to 19.1% in the comparable period in 2025. Net interest income before the provision for credit losses was $51.8 million for the six months ended June 30, 2026, an increase of $5.2 million, or 11.1%, over the same period a year ago and was primarily due to an increase in investment income and a decrease in interest expense. The provision for credit losses for the three and six months ended June 30, 2026 was $500,000 and $1,000,000, respectively, compared to $750,000 and $1,375,000 for the three and six months ended June 30, 2025, respectively. The provision for 2026 was driven by the updated loss driver analysis for 2026, the economic impact of the Iran conflict, and an increase in specific reserves for non-performing loans. Return on average equity for the three and six months (annualized) ended June 30, 2026 was 11.64% and 11.84% compared to 10.88% and 10.44% for the three and six months (annualized) ended June 30, 2025. Return on average tangible equity for the three and six months (annualized) ended June 30, 2026 was 15.54% and 15.84% compared to 15.19% and 14.65% for the three and six months (annualized) ended June 30, 2025 (non-GAAP). (1) Return on average assets for the three and six months (annualized) ended June 30, 2026 was 1.32% and 1.33% compared to 1.13% and 1.07% for the three and six months (annualized) ended June 30, 2025. Loans grew $151.8 million, or 6.8% since June 30, 2025. Loan growth since December 31, 2025, excluding the student loan portfolio, was $92.1 million, or 8.2% on an annualized basis. Non-performing assets increased $14,176,000 since December 31, 2025 and totaled $43,365,000 as of June 30, 2026, which is $15,989,000 higher than the balance as of June 30, 2025. The increase from December 31, 2025 is primarily due to six commercial real estate loan relationships and one construction real estate loan relationship, totaling approximately $12.2 million, being placed on non-accrual status during the first half of 2026 due to becoming more than 90 days. The Bank's continued strategy for certain acquired loans is to either improve the credit metrics of the non-performing loans or sell the underlying collateral or have the customers refinance the loans with another institution. As a percent of loans, non-performing assets totaled 1.81%, 1.24% and 1.22% as of June 30, 2026, December 31, 2025 and June 30, 2025, respectively. While non-performing assets have increased significantly as of June 30, 2026 when compared to December 31, 2025 and June 30, 2025, specific reserves for these assets have remained stable at $2,432,000, $1,912,758 and $1,476,000 at June 30, 2026, December 31, 2025 and June 30, 2025, respectively. Six Months Ended June 30, 2026 Compared to 2025 For the six months ended June 30, 2026, net income totaled $20,563,000 which compares to net income of $16,084,000 for the first six months of 2025, an increase of $4,479,000. Basic earnings per share of $4.29 for the first six months of 2026 compared to $3.35 for the first six months last year. Annualized return on equity for the six months ended June 30, 2026 and 2025 was 11.84% and 10.44%, while annualized return on assets was 1.33% and 1.07%, respectively. The increase in performance when comparing 2026 to 2025 was due to an increase in the net interest margin from 3.36% to 3.69% and a decrease in the provision for credit losses. Net interest income before the provision for credit loss for the six months ended June 30, 2026 totaled $51,807,000 compared to $46,650,000 for the six months ended June 30, 2025, resulting in an increase of $5,157,000, or 11.1%. Average interest earning assets increased $44.4 million for the six months ended June 30, 2026 compared to the same period last year, primarily due to an increase in average loans. Average loans increased $43.2 million while average investment securities increased $3.4 million. The yield on interest earning assets increased 8 basis points to 5.66%, while the cost of interest-bearing liabilities decreased 31 basis points to 2.44%. As a result, the tax effected net interest margin increased from 3.36% for the six months ended June 30, 2025 to 3.69% for the six months ended June 30, 2026. The provision for credit losses for the six months ended June 30, 2026 was $1,000,000 compared to $1,375,000 for the six months ended June 30, 2025, a decrease of $375,000. The provision for credit losses associated with loans for the six months ended June 30, 2026 and 2025 was $722,000 and $1,137,000, respectively, while the provision for off-balance sheet items was $278,000 and $238,000 for the six months ended June 30, 2026 and 2025, respectively. The provision for 2026 was due to the annual update of loss drivers, which includes historical loss data, as well as prepayment and curtailment speeds, the economic impact of the conflict with Iran is having on diesel and fertilizer prices, and an increase in specific reserves for non-performing loans. The provision for 2025 was due to an increase in past due loans and the annual update of loss drivers, which includes historical loss data, as well as prepayment and curtailment speeds. Total non-interest income was $7,704,000 for the six months ended June 30, 2026, which is $612,000 more than the non-interest income of $7,092,000 for the same period last year. The primary driver of the increase was an increase in earnings on bank owned life insurance (BOLI) of $656,000, as the result of purchasing $22,000,000 of additional insurance in the first quarter of 2026. Total non-interest expenses for the six months ended June 30, 2026 totaled $33,468,000 compared to $32,475,000 for the same period last year, which is an increase of $993,000. Salary and benefit costs increased $283,000 due to merit increases and an increase in full-time equivalent employees (FTEs) of 8.3 employees. Other real estate owned expenses increased due to legal fees associated with the increase in non-performing assets. The increase in other expenses is due to an increase in fraudulent expenses on customer line of credit accounts. The provision for income taxes increased $672,000 when comparing the six months ended June 30, 2026 to the same period in 2025 as a result of an increase in income before income taxes of $5,151,000. The effective tax rate was 17.9% and 19.1% for the six months ended June 30, 2026 and 2025, respectively, with the decrease in the effective tax rate being due to the increase in non-taxable investment income and BOLI income. Three Months Ended June 30, 2026 Compared to 2025 For the three months ended June 30, 2026, net income totaled $10,187,000 which compares to net income of $8,463,000 for the comparable period of 2025, an increase of $1,724,000 or 20.4%. Basic earnings per share of $2.12 for the three months ended June 30, 2026 compares to $1.76 for the 2025 comparable period. Annualized return on equity for the three months ended June 30, 2026 and 2025 was 11.64% and 10.88%, while annualized return on assets was 1.32% and 1.13%, respectively. Net interest income before the provision for credit losses for the three months ended June 30, 2026 totaled $25,694,000 compared to $23,648,000 for the three months ended June 30, 2025, resulting in an increase of $2,046,000, or 8.7%. Average interest earning assets increased $64.8 million for the three months ended June 30, 2026 compared to the same period last year, primarily due to increases in the average balance of outstanding commercial loans. Average loans increased $55.1 million, while average investment securities increased $9.1 million. The tax effected net interest margin for the three months ended June 30, 2026 was 3.67% compared to 3.47% for the same period last year. The yield on interest earning assets decreased six basis points to 5.60%, while the cost of interest-bearing liabilities decreased 32 basis points to 2.41%. The provision for credit losses for the second quarter of 2026 of $500,000, of which $578,000 related to loans, while ($78,000) related to off-balance sheet items, was due to the annual update of loss drivers, which includes historical loss data, as well as prepayment and curtailment speeds, the impact of the war with Iran and an increase in specific reserves for non-performing loans. The provision for credit losses of $750,000 for the second quarter of 2025 was driven by the increase in past due commercial loans, which primarily related to one commercial real estate relationship in our central Pennsylvania market that totaled $14.4 million. Total non-interest income was $4,014,000 for the three months ended June 30, 2026, $349,000 more than the comparable period last year. The primary driver of the increase was an increase in BOLI earnings of $432,000, which offset the decrease in the gains on loans sold of $118,000. Total non-interest expenses for the three months ended June 30, 2026 totaled $16,867,000 compared to $16,097,000 for the same period last year, which is an increase of $770,000, or 4.8%. Salary and employee benefits increased due to merit increases and an increase in FTEs of 9.9 employees. Other real estate owned expenses increased due to legal fees associated with the increase in non-performing assets. The increase in other expenses is to fraudulent expenses on customer line of credit accounts. The provision for income taxes increased $151,000 when comparing the three months ended June 30, 2026 to the same period in 2025. This increase was attributable to an increase in income before provision for income taxes of $1,875,000. The effective tax rate was 17.5% and 19.1% for the three months ended June 30, 2026 and 2025, respectively, with the decrease in the effective tax rate being due to the increase in non-taxable investment income and BOLI income. Balance Sheet and Other Information: At June 30, 2026, total assets were $3.19 billion compared to $3.06 billion at December 31, 2025 and $2.97 billion at June 30, 2025. The loan to deposit ratio as of June 30, 2026 was 100.02% compared to 98.89% as of December 31, 2025 and 97.78% as of June 30, 2025. Available for sale securities of $491.3 million at June 30, 2026 increased $46.6 million from December 31, 2025 and $59.7 million from June 30, 2025. The yield on the investment portfolio increased from 2.89% for the six months ended June 30, 2025 to 3.48% for the six months ended June 30, 2026 on a tax equivalent basis due to securities purchased during a higher market interest rate environment and lower yielding securities maturing. Investment activity for 2026 has focused on increasing the investment portfolio yield during periods of higher market interest rates, which has resulted in additional purchases during 2026. Net loans totaled $2.37 billion at June 30, 2026 and $2.33 billion at December 31, 2025, an increase of $43.7 million. As of June 30, 2025, net loans totaled $2.22 billion. The increase in net loans since December 31, 2025 and June 30, 2025 was due increases in commercial and agricultural real estate loans. The allowance for credit losses - loans totaled $23,559,000 at June 30, 2026 which is an increase of $753,000 from December 31, 2025 and is due to loan growth, the conflict with Iran and an increase in specific reserves on non-performing loans. The provision for credit losses on loans was $722,000 for the first half of 2026. Loan recoveries and charge-offs were $183,000 and $152,000, respectively, for the six months ended June 30, 2026. The allowance for credit losses as a percent of total loans was 0.98% as of June 30, 2026 and 0.97% as of December 31, 2025. While non-performing loans increased $14.2 million or 48.6%, the commercial loans are individually evaluated to determine whether a specific reserve is necessary or not. Specific reserves associated with commercial loans totaled $1,414,000 and $1,039,000 as of June 30, 2026 and December 31, 2025, respectively. Deposits increased $17.6 million from December 31, 2025, to $2.39 billion at June 30, 2026. Competitive pressure for deposits remains high. Brokered CD's have decreased $3.5 million since December 31, 2025. Borrowed funds totaled $394.0 million as of June 30, 2026, a $84.6 million increase from December 31, 2025 to fund investment and loan growth since year-end. Stockholders' equity totaled $352.8 million at June 30, 2026, compared to $338.1 million at December 31, 2025, an increase of $14.8 million. Excluding accumulated other comprehensive loss (AOCL), stockholders' equity increased $15.8 million and totaled $366.2 million at June 30, 2026 (non-GAAP). The increase in stockholders' equity was attributable to net income for the six months ended June 30, 2026 totaling $20.6 million, offset by cash dividends for the six months ended June 30, 2026 totaling $4.9 million. As a result of decreases in market interest rates impacting the fair value of investment securities and swaps, AOCL increased $1.0 million from December 31, 2025. Dividend Declared On June 2, 2026, the Board of Directors declared a cash dividend of $0.51 per share, which was paid on June 26, 2026 to shareholders of record at the close of business on June 12, 2026. This quarterly cash dividend is an increase of 4.0% over the quarterly cash dividend of $0.49 per share declared one year ago. Citizens Financial Services, Inc. has nearly 1,790 shareholders, the majority of whom reside in markets where its offices are located. Note: This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  These statements are not historical facts; rather, they are statements based on the Company's current expectations regarding its business strategies and their intended results and its future performance.  Forward-looking statements are preceded by terms such as "expects," "believes," "anticipates," "intends" and similar expressions.  Forward-looking statements are not guarantees of future performance.  Numerous risks and uncertainties could cause or contribute to the Company's actual results, performance and achievements to be materially different from those expressed or implied by the forward-looking statements. Factors that may cause or contribute to these differences include, without limitation, changes in general economic conditions, including changes in market interest rates and changes in monetary and fiscal policies of the federal government; legislative and regulatory changes; and other factors disclosed periodically in the Company's filings with the Securities and Exchange Commission.  Because of the risks and uncertainties inherent in forward-looking statements, readers are cautioned not to place undue reliance on them, whether included in this press release or made elsewhere periodically by the Company or on its behalf.  The Company assumes no obligation to update any forward-looking statements except as may be required by applicable law or regulation. (1) See reconciliation of GAAP and non-GAAP measures at the end of the press release View original content:https://www.prnewswire.com/news-releases/citizens-financial-services-inc-reports-unaudited-second-quarter-2026-financial-results-302838624.html

Citizens Financial Services (CZFS) came out with quarterly earnings of $2.12 per share, beating the Zacks Consensus Estimate of $1.98 per share. This compares to earnings of $1.76 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +7.07%. A quarter ago, it was expected that this bank would post earnings of $1.98 per share when it actually produced earnings of $2.16, delivering a surprise of +9.09%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Citizens Financial Services, which belongs to the Zacks Banks - Northeast industry, posted revenues of $17.83 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 39.16%. This compares to year-ago revenues of $27.31 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Citizens Financial Services shares have added about 35.5% since the beginning of the year versus the S&P 500's gain of 6.9%. While Citizens Financial Services has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Citizens Financial Services was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.02 on $29.9 million in revenues for the coming quarter and $8.23 on $119.3 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 21% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Citizens & Northern (CZNC), is yet to report results for the quarter ended June 2026. This bank is expected to post quarterly earnings of $0.63 per share in its upcoming report, which represents a year-over-year change of +57.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Citizens & Northern's revenues are expected to be $38.6 million, up 30.9% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Citizens Financial Services Inc. (CZFS) : Free Stock Analysis Report Citizens & Northern Corp (CZNC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

ConnectOne Bancorp (CNOB) came out with quarterly earnings of $0.84 per share, beating the Zacks Consensus Estimate of $0.83 per share. This compares to earnings of $0.55 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +1.21%. A quarter ago, it was expected that this holding company for ConnectOne Bank would post earnings of $0.73 per share when it actually produced earnings of $0.79, delivering a surprise of +8.22%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. ConnectOne, which belongs to the Zacks Banks - Northeast industry, posted revenues of $121.57 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.47%. This compares to year-ago revenues of $84.07 million. The company has not been able to beat consensus revenue estimates over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. ConnectOne shares have added about 25.9% since the beginning of the year versus the S&P 500's gain of 9.6%. While ConnectOne has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for ConnectOne was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.84 on $124.79 million in revenues for the coming quarter and $3.28 on $489.68 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Citizens Financial Services (CZFS), another stock in the same industry, has yet to report results for the quarter ended June 2026. This bank is expected to post quarterly earnings of $1.98 per share in its upcoming report, which represents a year-over-year change of +12.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Citizens Financial Services' revenues are expected to be $29.3 million, up 7.3% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ConnectOne Bancorp, Inc. (CNOB) : Free Stock Analysis Report Citizens Financial Services Inc. (CZFS) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Norwood Financial Corp. (NWFL) came out with quarterly earnings of $0.86 per share, missing the Zacks Consensus Estimate of $0.87 per share. This compares to earnings of $0.67 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -1.15%. A quarter ago, it was expected that this company would post earnings of $0.81 per share when it actually produced earnings of $0.72, delivering a surprise of -11.11%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. Norwood Financial, which belongs to the Zacks Banks - Northeast industry, posted revenues of $29.37 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.40%. This compares to year-ago revenues of $21.31 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Norwood Financial shares have added about 10.4% since the beginning of the year versus the S&P 500's gain of 9.7%. While Norwood Financial has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Norwood Financial was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.93 on $29.2 million in revenues for the coming quarter and $3.45 on $114.1 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Citizens Financial Services (CZFS), is yet to report results for the quarter ended June 2026. This bank is expected to post quarterly earnings of $1.98 per share in its upcoming report, which represents a year-over-year change of +12.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Citizens Financial Services' revenues are expected to be $29.3 million, up 7.3% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Norwood Financial Corp. (NWFL) : Free Stock Analysis Report Citizens Financial Services Inc. (CZFS) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Citizens Financial Services (CZFS) came out with quarterly earnings of $2.16 per share, beating the Zacks Consensus Estimate of $1.98 per share. This compares to earnings of $1.6 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +9.09%. A quarter ago, it was expected that this bank would post earnings of $2.07 per share when it actually produced earnings of $2.18, delivering a surprise of +5.31%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Citizens Financial Services, which belongs to the Zacks Banks - Northeast industry, posted revenues of $29.8 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 2.42%. This compares to year-ago revenues of $26.43 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Citizens Financial Services shares have added about 17.9% since the beginning of the year versus the S&P 500's gain of 4.3%. While Citizens Financial Services has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Citizens Financial Services was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.93 on $28.9 million in revenues for the coming quarter and $7.81 on $116.9 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Northeast Community Bancorp (NECB), is yet to report results for the quarter ended March 2026. This bank holding company is expected to post quarterly earnings of $0.75 per share in its upcoming report, which represents a year-over-year change of -3.9%. The consensus EPS estimate for the quarter has been revised 4.8% lower over the last 30 days to the current level. Northeast Community Bancorp's revenues are expected to be $26.42 million, up 3.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Citizens Financial Services Inc. (CZFS) : Free Stock Analysis Report Northeast Community Bancorp Inc. (NECB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

MANSFIELD, Pa., April 29, 2026 /PRNewswire/ -- Citizens Financial Services, Inc (Nasdaq: CZFS), parent company of First Citizens Community Bank (the "Bank"), released today its unaudited consolidated financial results for the three months ended March 31, 2026. Highlights Net income was $10.4 million for the three months ended March 31, 2026, which is 36.15% more than the net income for 2025's comparable period. The increase was driven by the increase in net interest income before the provision for credit losses of $3.1 million. The effective tax rate for the three months ended March 31, 2026 was 18.3% compared to 19.1% in the comparable period in 2025, with the decrease due to increases in nontaxable interest income and earnings on BOLI due to the purchase of additional insurance policies in the first quarter of 2026. Net interest income before the provision for credit losses was $26.1 million for the three months ended March 31, 2026, an increase of $3,111,000, or 13.5%, over the same period a year ago and was primarily due to an increase in loan interest income and a decrease in interest expense on deposits and borrowings. Return on average equity for the three months (annualized) ended March 31, 2026 was 12.03% compared to 10.00% for the three months (annualized) ended March 31, 2025. Return on average tangible equity for the three months (annualized) ended March 31, 2026 was 16.15% compared to 14.09% for the three months (annualized) ended March 31, 2025 (non-GAAP). (1) Return on average assets for the three months (annualized) ended March 31, 2026 was 1.34% compared to 1.00% for the three months (annualized) ended March 31, 2025. Non-performing assets increased $10,914,000 since December 31, 2025 and totaled $40,103,000 as of March 31, 2026, which is $12,621,000 higher than the balance as of March 31, 2025. The increase from December 31, 2025 is due to four commercial real estate loan relationships being placed on non-accrual status during the first quarter of 2026 due to becoming more than 90 days past due. The Bank's continued strategy for certain acquired loans is to either improve the credit metrics of the non-performing loans or sell the underlying collateral or have the customers refinance the loans with another institution. As a percent of loans, non-performing assets totaled 1.74%, 1.24% and 1.19% as of March 31, 2026, December 31, 2025 and March 31, 2025, respectively. While non-performing assets have increased significantly as of March 31, 2026 when compared to December 31, 2025 and March 31, 2025, specific reserves for these assets have remained stable at $1,862,000, $1,912,758 and $1,603,000 at March 31, 2026, December 31, 2025 and March 31, 2025, respectively. First Quarter of 2026 Compared to the First Quarter of 2025 For the three months ended March 31, 2026, net income totaled $10,376,000 which compares to net income of $7,621,000 for the comparable period of 2025, an increase of $2,755,000 or 36.2%. Basic earnings per share of $2.16 for the three months ended March 31, 2026 compares to $1.59 for the 2025 comparable period. Annualized return on equity for the three months ended March 31, 2026 and 2025 was 12.03% and 10.00%, while annualized return on assets was 1.34% and 1.00%, respectively. Net interest income before the provision for credit losses for the three months ended March 31, 2026 totaled $26,113,000 compared to $23,002,000 for the three months ended March 31, 2025, resulting in an increase of $3,111,000, or 13.5%. Average interest earning assets increased $26.4 million for the three months ended March 31, 2026 compared to the same period last year, primarily due to organic growth in our commercial and agricultural loan portfolios offset by decreases in consumer loans. During the first quarter of 2026, the Company recovered $683,000 in previously charged-off interest that offset the charged-off interest related to the loans placed on non-accrual status during the first quarter of 2026. The tax effected net interest margin for the three months ended March 31, 2026 was 3.72% compared to 3.30% for the same period last year. The yield on interest earning assets increased 14 basis points to 5.71%, while the cost of interest bearing liabilities decreased 34 basis points to 2.46%. The provision for credit losses for the first quarter of 2025 of $500,000 was driven by the annual update of loss drivers, which includes historical loss data, as well as prepayment and curtailment speeds and the potential impact of the Iran war compared to $625,000 for the first quarter of 2025, which was driven by the annual updates for 2025. Total non-interest income was $3,690,000 for the three months ended March 31, 2026, $263,000 more than the comparable period last year. The primary driver of the increase was an increase in earning on bank owned life insurance of $224,000, as the result of purchasing $22,000,000 of additional insurance in the first quarter of 2026. Total non-interest expenses for the three months ended March 31, 2026 totaled $16,601,000 compared to $16,378,000 for the same period last year, which is an increase of $223,000, or 1.4%. The provision for income taxes increased $521,000 when comparing the three months ended March 31, 2026 to the same period in 2025. This increase was attributable to an increase in income before provision for income taxes of $3,276,000. The effective tax rate was 18.3% and 19.1% for the three months ended March 31, 2026 and 2025, respectively. Balance Sheet and Other Information: At March 31, 2026, total assets were $3.03 billion compared to $3.06 billion at December 31, 2025 and $3.02 billion at March 31, 2025. The loan to deposit ratio as of March 31, 2026 was 94.14% compared to 98.89% as of December 31, 2025 and 97.92% as of March 31, 2025. Available for sale securities of $448.3 million at March 31, 2026 increased $3.5 million from December 31, 2025 and $17.6 million from March 31, 2025. The yield on the investment portfolio increased from 2.85% to 3.35% on a tax equivalent basis due to securities purchased during a higher rate environment and lower yielding securities maturing. Investment activity for 2026 has focused on replacing securities as they mature. Net loans totaled $2.28 billion at March 31, 2026 in comparison to $2.33 billion as of December 31, 2025 and $2.29 billion at March 31, 2025. The decrease since December 31, 2025 and March 31, 2025 of $68.6 million and $89.7 million, respectively, was due to the seasonal decrease in student loans that typically occurs late in the first quarter or early in the second quarter. A large component of the increase in commercial loans was due to construction loans being transferred via a permanent financing arrangement. In addition, we continue to see strong demand in commercial real estate in our south eastern Pennsylvania and Delaware markets. The allowance for credit losses - loans totaled $22,894,000 at March 31, 2026 which is an increase of $88,000 from December 31, 2025 due to changes in expected prepayment and curtailment speeds, economic forecasts and the Iran war. The provision for credit losses on loans was $144,000 for the first quarter of 2026. Loan recoveries and charge-offs were $22,000 and $78,000, respectively, for the three months ended March 31, 2026. The allowance as a percent of total loans was 1.00% as of March 31, 2026 and 0.97% as of December 31, 2025. Deposits increased $64.2 million from December 31, 2025, to $2.44 billion at March 31, 2026, with the increase driven by an increase in brokered deposits of $52.8 million, which total $112.8 million at March 31, 2026. The increase in brokered deposits was to offset the seasonal decrease in municipal deposits. Competitive pressure for deposits remains high. Borrowed funds totaled $198.7 million as of March 31, 2026, a $110.7 million decrease from December 31, 2025 due to the decrease in loans and increase in deposits. Stockholders' equity totaled $343.6 million at March 31, 2026, compared to $338.1 million at December 31, 2025, an increase of $5.5 million. Excluding accumulated other comprehensive loss (AOCL), stockholders' equity increased $7.8 million and totals $358.3 million (non-GAAP). The increase in stockholders' equity, excluding AOCL, was attributable to net income for the three months ended March 31, 2026 totaling $10.4 million, offset by cash dividends for the first quarter totaling $2.4 million. As a result of increases in market interest rates impacting the fair value of investment securities and swaps, AOCL increased $2.3 million from December 31, 2025. Dividend Declared On March 2, 2026, the Board of Directors declared a cash dividend of $0.50 per share, which was paid on March 27, 2026 to shareholders of record at the close of business on March 13, 2026. This quarterly cash dividend is an increase of 2.0% over the regular cash dividend of $0.49 per share declared one year ago, as adjusted for the 1% stock dividend declared in June 2025. Citizens Financial Services, Inc. has nearly 1,790 shareholders, the majority of whom reside in markets where its offices are located. Note: This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are not historical facts; rather, they are statements based on the Company's current expectations regarding its business strategies and their intended results and its future performance. Forward-looking statements are preceded by terms such as "expects," "believes," "anticipates," "intends" and similar expressions. Forward-looking statements are not guarantees of future performance. Numerous risks and uncertainties could cause or contribute to the Company's actual results, performance and achievements to be materially different from those expressed or implied by the forward-looking statements. Factors that may cause or contribute to these differences include, without limitation, changes in general economic conditions, including changes in market interest rates and changes in monetary and fiscal policies of the federal government; legislative and regulatory changes; and other factors disclosed periodically in the Company's filings with the Securities and Exchange Commission. Because of the risks and uncertainties inherent in forward-looking statements, readers are cautioned not to place undue reliance on them, whether included in this press release or made elsewhere periodically by the Company or on its behalf. The Company assumes no obligation to update any forward-looking statements except as may be required by applicable law or regulation. (1) See reconciliation of GAAP and non-GAAP measures at the end of the press release. View original content:https://www.prnewswire.com/news-releases/citizens-financial-services-inc-reports-unaudited-first-quarter-2026-financial-results-302756410.html

HBT Financial (HBT) came out with quarterly earnings of $0.68 per share, beating the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.61 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +9.68%. A quarter ago, it was expected that this bank holding company would post earnings of $0.64 per share when it actually produced earnings of $0.64, delivering no surprise. Over the last four quarters, the company has surpassed consensus EPS estimates three times. HBT Financial, which belongs to the Zacks Banks - Northeast industry, posted revenues of $67.33 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.72%. This compares to year-ago revenues of $58.01 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. HBT Financial shares have added about 8.9% since the beginning of the year versus the S&P 500's gain of 4.7%. While HBT Financial has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for HBT Financial was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.75 on $81.6 million in revenues for the coming quarter and $2.89 on $315.75 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Citizens Financial Services (CZFS), another stock in the same industry, has yet to report results for the quarter ended March 2026. This bank is expected to post quarterly earnings of $1.98 per share in its upcoming report, which represents a year-over-year change of +23.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Citizens Financial Services' revenues are expected to be $29.1 million, up 10.1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report HBT Financial, Inc. (HBT) : Free Stock Analysis Report Citizens Financial Services Inc. (CZFS) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Pathward Financial (CASH) came out with quarterly earnings of $3.35 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $3.11 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this holding company for Pathward, N.A. would post earnings of $1.38 per share when it actually produced earnings of $1.57, delivering a surprise of +13.77%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Pathward, which belongs to the Zacks Banks - Northeast industry, posted revenues of $276.3 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 1.89%. This compares to year-ago revenues of $262.86 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Pathward shares have added about 37.7% since the beginning of the year versus the S&P 500's gain of 3.2%. While Pathward has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Pathward was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.95 on $191.82 million in revenues for the coming quarter and $8.70 on $825.7 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the bottom 42% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Citizens Financial Services (CZFS), is yet to report results for the quarter ended March 2026. This bank is expected to post quarterly earnings of $1.98 per share in its upcoming report, which represents a year-over-year change of +23.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Citizens Financial Services' revenues are expected to be $29.1 million, up 10.1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pathward Financial, Inc. (CASH) : Free Stock Analysis Report Citizens Financial Services Inc. (CZFS) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research