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Stock impact report

Citizens Financial Services, Inc. Reports Unaudited Second Quarter 2019 Financial Results

Citizens Financial Services, Inc. (CZFS) 
Company Research Source: PR Newswire
MANSFIELD, Pa., July 24, 2019 /PRNewswire/ -- Citizens Financial Services, Inc. (OTC Pink: CZFS), parent company of First Citizens Community Bank, released today its unaudited consolidated financial results for the three and six months ended June 30, 2019.HighlightsNet income for the first six months of 2019 was $9.3 million, which is 3.5% higher than 2018's net income through June 30, 2018. The effective tax rate for the first six months of 2019 was 15.9% compared to 15.4% in the comparable period in 2018. Net income was $4.8 million for the three months ended June 30, 2019, which is 3.3% higher than the net income for 2018's comparable period. The effective tax rate for the three months ended June 30, 2019 was 16.1% compared to 15.7% in the comparable period in 2018. Net interest income before the provision for loan losses of $24.3 million for the six months ended June 30, 2019 was an increase of $1.1 million, or 4.7%, over the same period a year ago. Net loan growth totaled $17.3 m Show less Read more
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