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Stock impact report

Citizens Community Bancorp, Inc. Reports First Quarter 2024 Earnings of $0.39 Per Share; Nonperforming Assets Decreased 31%; Criticized Assets Decreased 25% [Yahoo! Finance]

Citizens Community Bancorp, Inc. (CZWI) 
Last citizens community bancorp, inc. earnings: 4/28 04:00 pm Check Earnings Report
Company Research Source: Yahoo! Finance
Community Federal N.A. (the “Bank” or “CCFBank”), today reported earnings of $4.1 million and earnings per diluted share of $0.39 for the first quarter ended March 31, 2024, compared to $3.7 million and $0.35 per diluted share for the fourth quarter ended December 31, 2023, and $3.7 million and $0.35 per diluted share for the first quarter ended March 31, 2023, respectively. The Company's first quarter 2024 operating results reflected the following changes from the fourth quarter of 2023: (1) an increase in net interest income largely due to interest income of $0.6 million principally from nonaccrual payoffs partially offset by a lower average balance of non-interest bearing commercial checking deposits and a modest increase in net liability costs; (2) a $0.15 million increase in negative provision for credit losses to $0.8 million in the first quarter, due to a decrease in the allowance for credit losses (“ACL”) on individually evaluated loans, net recoveries, and reductions in com Show less Read more
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