CITIZENS FINANCIAL SERVICES INC CZFS
CITIZENS FINANCIAL SERVICES, INC.
Citizens Financial Services, Inc. (the "Company"), a Pennsylvania corporation, was incorporated on April 30, 1984 to be the holding company for First Citizens Community Bank (the "Bank"), a
Pennsylvania-chartered bank and trust company. During 2020, CZFS Acquisition Company, LLC ("CZFS") was formed as a wholly owned subsidiary of the Company, and subsequently the Company's interest in the Bank was transferred to CZFS to facilitate the
merger with MidCoast Community Bancorp, Inc. ("MidCoast") and its wholly owned subsidiary, MidCoast Community Bank ("MC Bank"), which was completed on April 17, 2020. During 2024, the Company terminated the corporate existence of CZFS and the
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.9M | $9.6M | $9.0M | $8.6M | $7.7M | $6.7M | $6.9M | $6.5M | $48.1M | $43.0M |
| Interest expense | $98.0M | $86.5M | $80.3M | $72.1M | $7.1M | $8.1M | $12.0M | $9.6M | $5.8M | $5.0M |
| Pre-tax income | $45.2M | $33.9M | $21.6M | $35.5M | $35.3M | $30.4M | $23.3M | $21.4M | $19.1M | $15.7M |
| Income tax | $8.7M | $6.1M | $3.8M | $6.4M | $6.2M | $5.3M | $3.8M | $3.4M | $6.0M | $3.0M |
| Net income | $36.6M | $27.8M | $17.8M | $29.1M | $29.1M | $25.1M | $19.5M | $18.0M | $13.0M | $12.6M |
| EPS, basic | 7.62 | 5.80 | 3.98 | 7.17 | 7.24 | 6.46 | 5.42 | 5.04 | 3.67 | 3.57 |
| EPS, diluted | 7.62 | 5.79 | 3.98 | 7.17 | 7.24 | 6.46 | 5.41 | 5.04 | 3.67 | 3.57 |
| Shares, diluted (wtd. avg.) | $4.8M | $4.8M | $4.5M | $4.1M | $4.0M | $3.9M | $3.6M | $3.6M | $3.6M | $3.5M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $34.3M | $42.2M | $52.8M | $26.2M | $172.8M | $68.7M | $18.5M | $16.8M | $18.5M | $17.8M |
| Property, plant and equipment | $21.0M | $21.4M | $21.4M | $17.6M | $17.0M | $16.9M | $15.9M | $16.3M | $16.5M | $17.0M |
| Goodwill | $85.8M | $85.8M | $85.8M | $31.4M | $31.4M | $31.4M | $23.3M | $23.3M | $23.3M | $21.1M |
| Other intangibles | $2.2M | $2.9M | $3.6M | $1.3M | $1.6M | $1.7M | $1.3M | $1.6M | $2.0M | $2.1M |
| Total assets | $3.06B | $3.03B | $2.98B | $2.33B | $2.14B | $1.89B | $1.47B | $1.43B | $1.36B | $1.22B |
| Total liabilities | $2.73B | $2.73B | $2.70B | $2.13B | $1.93B | $1.70B | $1.31B | $1.29B | $1.23B | $1.10B |
| Retained earnings | $213.6M | $189.4M | $173.0M | $164.9M | $146.0M | $126.6M | $110.8M | $99.7M | $90.0M | $91.3M |
| Total equity | $338.1M | $299.7M | $279.7M | $200.1M | $212.5M | $194.3M | $154.8M | $139.2M | $129.0M | $123.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $36.5M | $33.2M | $26.5M | $33.2M | $38.7M | $11.8M | $21.8M | $21.5M | $15.7M | $16.2M |
| Depreciation and amortisation | $2.1M | $1.8M | $1.5M | $1.0M | $1.1M | $1.1M | $1.0M | $387.0K | $200.0K | $320.0K |
| Stock-based compensation | $625.0K | $412.0K | $309.0K | $336.0K | $614.0K | $473.0K | $369.0K | $308.0K | $278.0K | $284.0K |
| Capital expenditure | $1.3M | $1.3M | $2.6M | $1.6M | $1.1M | $942.0K | $483.0K | $500.0K | $208.0K | $587.0K |
| Investing cash flow | -$40.1M | -$69.1M | $59.5M | -$362.5M | -$158.2M | -$110.7M | -$32.3M | -$72.4M | -$105.4M | -$70.1M |
| Financing cash flow | -$4.4M | $25.3M | -$59.4M | $182.6M | $223.7M | $149.1M | $12.3M | $49.1M | $90.4M | $47.3M |
| Dividends paid | $9.5M | $9.3M | $8.5M | $7.6M | $7.4M | $6.5M | $6.3M | $6.1M | $5.2M | $5.1M |
| Buybacks | $358.0K | $202.0K | $265.0K | $1.3M | $1.4M | $2.1M | $1.3M | $1.2M | $979.0K | $3.2M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-009103.
Others in SIC 6022
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BNY | Bank of New York Mellon Corp | $111.84B | 22.3x | 7.8% |
| STT | STATE STREET CORP | $53.36B | 20.7x | 7.3% |
| FITB | FIFTH THIRD BANCORP | $49.76B | 15.5x | -5.0% |
| MTB | M&T BANK CORP | $34.64B | 14.1x | 7.5% |
| NTRS | NORTHERN TRUST CORP | $34.15B | 21.4x | 6.1% |
| CFG | CITIZENS FINANCIAL GROUP INC/RI | $29.81B | 18.3x | 6.7% |
| FCNCA | FIRST CITIZENS BANCSHARES INC /DE/ | $25.48B | 13.4x | -2.2% |
| EWBC | EAST WEST BANCORP INC | $17.92B | 13.7x | 2.4% |