|Over a month ago|
Citizens Community Bancorp reports Q1 adjusted EPS 51c, consensus 40c » 16:2004/2604/26/21
Reports Q1 tangible book…
Reports Q1 tangible book value per share $11.39. "I am pleased with our Team's effort in building a strong culture focused on deepening our customer relationships has translated into strong financial results. Our continued focus on building tangible book value, improving asset quality and expense management was demonstrated in the quarter and year over year. Tangible book value increased 16% year over year and the cash dividend was increased 10% to $0.23 per share paid in the first quarter, despite operating in an uncertain environment. Nonperforming assets declined 19% in the quarter and have declined over 50% in the past 12 months. I am optimistic that with COVID-19 vaccinations increasing, our branch lobbies reopening in June, and our cold winter coming to a close, that loan demand should increase, especially since unemployment rates in our markets are below the national averages," said Stephen Bianchi, chairman, president and CEO. "We also assisted our business and farming customers seeking a second draw of SBA PPP loans, with the expected $3.3 million of deferred fees to be accreted over the life of the loans," continued Bianchi.
|Over a quarter ago|
Citizens Community Bancorp reports Q4 EPS 32c, consensus 28c » 16:4201/2801/28/21
Reports Q4 tangible book…
Reports Q4 tangible book value per share $11.18. Stephen Bianchi, chairman, president and CEO, said, "I am very proud of the focus and commitment by our colleagues to clients, to each other and to the communities we serve. Their dedication in the face of adversity helped the Bank deliver strong returns to stakeholders and positions us well for the future."
Citizens Community Bancorp reports Q3 EPS 31c, two est. 24c » 08:4310/2710/27/20
Book value per share was…
Book value per share was $14.10 at September 30, 2020 compared to $13.70 at June 30, 2020 and $13.13 at September 30, 2019. Book value per share increased $0.74, or a 7% annualized increase, from December 31, 2019. Tangible book value per share was $10.75 at September 30, 2020 compared to $10.31 at June 30, 2020 and $9.60 at September 30. "We were pleased with the continued execution of our strategic priorities. This year we have increased tangible book value $0.86 per share, or a 12% annualized increase. Asset quality continued to improve with a quarterly decrease of 14% and year-to-date decrease of 31% in non-performing assets, an $18 million reduction, or 28%, in criticized assets from March 31 levels and $37 thousand of net charge-offs in the quarter. We completed an extensive review of our business during the COVID-19 pandemic to build more efficient workflows and staffing models, to better manage operating expenses, announced branch closings effective in the fourth quarter and strengthened our culture centered on caring for our customers and colleagues," said Stephen Bianchi, Chairman, President and CEO. "As expected, COVID-19 deferrals remain concentrated in the hospitality segment where occupancy rates have been tracking with national averages. We are working with our clients as the pandemic persists by requiring additional support from the borrower in exchange for further deferral periods. Restaurants, especially quick service, have rebounded and many have resumed full payment status. All other segments have or are scheduled to return to regular payment status. Nevertheless, we have increased loan loss reserves adding $3.5 million in COVID-19 qualitative reserves over the last three quarters."
Citizens Community Bancorp reports Q2 EPS 28c, consensus 18c » 08:3207/3007/30/20
Tangible book value per…
Tangible book value per share was $10.31 at June 30, 2020 compared to $9.80 at March 31, 2020. Reports CET1 ratio 9.7% "We were pleased with asset quality improvements evidenced by reductions in special mention and substandard loans and the accretion of interest on PCI loans. Deferments tapered off as the quarter progressed and ended the quarter at 15% of total loans. We found through our client outreach, focused on high risk segments and larger borrowers covering approximately $700 million in loans, that businesses remained optimistic but that more visibility on the reopening of the economy in their markets is needed for them to better assess future prospects." said Stephen Bianchi, Chairman, President and Chief Executive Officer. "The development of our mortgage banking platform over the last three years and the team's commitment to long hours allowed us to take advantage of heavy refinance activity and accelerating purchase market to recognize all-time high gains on sale and loan servicing income. During the COVID-19 shutdown, we evaluated our business and began the implementation of a restructuring plan which began with the sale of Wells Insurance Agency," continued Bianchi.