Citizens Financial Services Inc (CZFS) Financial Statements (2024 and earlier)

Company Profile

Business Address 15 S MAIN ST
MANSFIELD, PA 16933
State of Incorp. PA
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments26,211172,83368,70718,52016,79718,517
Cash and cash equivalents26,211172,83368,70718,52016,79718,517
Financing receivable, accrued interest, after allowance for credit loss   
Total current assets:26,211172,83368,70718,52016,79718,517
Noncurrent Assets
Operating lease, right-of-use asset4,9873,264  
Property, plant and equipment17,61917,01616,94815,93316,27316,523
Long-term investments and receivables 1,304288216325433541
Long-term investments 1,304288216325433541
Intangible assets, net (including goodwill)32,64833,00333,04424,64224,91925,249
Goodwill31,37631,37631,37623,29623,29623,296
Intangible assets, net (excluding goodwill)1,2721,6271,6681,3461,6231,953
Deferred income tax assets12,886   
Total noncurrent assets:69,44453,57150,20840,90041,62542,313
Other undisclosed assets2,237,7381,917,4591,772,7591,406,9191,372,2901,301,056
TOTAL ASSETS:2,333,3932,143,8631,891,6741,466,3391,430,7121,361,886
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt17,77616,87314,81311,29817,98314,989
Total current liabilities:17,77616,87314,81311,29817,98314,989
Noncurrent Liabilities
Other undisclosed liabilities2,115,4701,914,4981,682,6021,300,2671,273,5001,217,886
Total liabilities:2,133,2461,931,3711,697,4151,311,5651,291,4831,232,875
Equity
Equity, attributable to parent200,147212,492194,259154,774139,229129,011
Common stock4,4284,3894,3503,9393,9043,870
Treasury stock, value(16,973)(16,147)(15,213)(14,425)(13,580)(12,551)
Additional paid in capital80,91178,39575,90855,08953,09951,108
Accumulated other comprehensive income (loss)(33,141)(155)2,587(629)(3,921)(3,398)
Retained earnings164,922146,010126,627110,80099,72789,982
Total equity:200,147212,492194,259154,774139,229129,011
TOTAL LIABILITIES AND EQUITY:2,333,3932,143,8631,891,6741,466,3391,430,7121,361,886

Income Statement (P&L) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues83,61574,50072,46462,45357,14054,917
Net investment income83,35773,21770,29661,98056,75848,093
Cost of revenue (1,550)(2,400)(1,675)(1,925)(2,540)
Provision for loan, lease, and other losses (1,550)(2,400)(1,675)(1,925)
Financial services costs(2,540)
Gross profit:83,61572,95070,06460,77855,21552,377
Operating expenses(5,029)(4,492)(6,253)(4,063)(2,126)(20,648)
Other operating income, net
(Noninterest Income, Other Operating Income)
8451,3981,974568588537
Operating income:79,43169,85665,78557,28353,67732,266
Nonoperating income
(Bank Owned Life Insurance Income)
8521,828695623622660
Interest and debt expense(11,223)(7,105)(8,105)(12,040)(9,574)(5,839)
Other undisclosed loss from continuing operations before equity method investments, income taxes   (28,009)(22,556)(23,288)(8,031)
Income from continuing operations before equity method investments, income taxes:69,06064,57930,36623,31021,43719,056
Other undisclosed loss from continuing operations before income taxes(33,565)(29,262)    
Income from continuing operations before income taxes:35,49535,31730,36623,31021,43719,056
Income tax expense(6,435)(6,199)(5,263)(3,820)(3,403)(6,031)
Income from continuing operations:29,06029,11825,10319,49018,03413,025
Income before gain (loss) on sale of properties:29,11825,10319,49018,03413,025
Net income available to common stockholders, diluted:29,06029,11825,10319,49018,03413,025

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:29,06029,11825,10319,49018,03413,025
Other comprehensive income (loss)9121,494(543)2918183
Comprehensive income:29,97230,61224,56019,51918,21513,108
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(33,898)(4,236)3,7593,263(705)(1,530)
Comprehensive income (loss), net of tax, attributable to parent:(3,926)26,37628,31922,78217,51011,578

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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