Citizens Financial Services to begin trading on Nasdaq Capital Market Friday

Cris Collingwood//June 2, 2022

Citizens Financial Services to begin trading on Nasdaq Capital Market Friday

Cris Collingwood//June 2, 2022

Citizens Financial Services, Inc., the holding company for First Citizens Community Bank, today announced that The Nasdaq Stock Market LLC has approved uplisting the Company’s common stock to the Nasdaq Capital Market.  

The Company’s common stock is expected to begin trading on the Nasdaq Capital Market at the opening of the market on June 3 under the company’s current ticker symbol “CZFS.”  

Shareholders are not required to take any action as a result of the uplisting. 

First Citizens Community Bank (FCCB) is headquartered in Mansfield and currently operates 31 offices throughout Pennsylvania, New York and Delaware including Lebanon, Lancaster, and Berks counties. 

 “Uplisting to Nasdaq represents a significant milestone that builds on our demonstrated growth,” said Randall Black, CEO of the company. “In addition to raising our overall profile, we anticipate the uplisting will improve the liquidity of our stock, provide us with better access to capital and improved means to use our stock as acquisition considerations, and ultimately enhance long-term shareholder value. I think it’s very fitting that this milestone coincides with our 150th year anniversary and the achievement of several financial milestones in 2021.” 

In 2021, the Company reached $2.1 billion in assets, record deposits of $1.8 billion, record net income of $29.1 million, and record earnings per share of $7.38 as compared to $6.53 for the year ended December 31, 2020. Return on average equity and return on average assets remained strong at 14.26% and 1.45% respectively. 

Since their entry into southern Pennsylvania with the acquisition of The First National Bank of Fredericksburg in December 2015, FCCB has experienced significant success in their market expansion efforts.  

In 2020 the Bank acquired The MidCoast Community Bancorp, extending their reach into Wilmington and Dover Delaware. In the six years since the start of their expansion, the Bank’s assets have grown by $1.22 billion or 132%, since the year ended December 31, 2014. 

“We attribute a significant portion of our success to positioning ourselves in the right markets, with the right products and services, the right technology, and most importantly the right people,” said Black. “We are a bank large enough to offer the products and services consumers and businesses have come to expect, yet small enough to provide high-touch, community focused service.”