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Citizens Financial Services (CZFS) guidance and outlook

Citizens Financial Services' 10-Q filed Nov 5, 2026 makes 12 forward-looking statements.

Guidance and outlook

Forward-looking statements, 10-Q filed Nov 5, 2026

• We are invested in eight limited partnerships that have established low-income housing projects in our market areas, with our most recent investments made in the second quarter of 2026.
• We are currently recognizing credits on three projects and expect to recognize credits on the most recent investment in 2027.
• We anticipate recognizing an aggregate of $7.1 million of tax credits over the next 11 years.
• Management expects that these sources of funds will permit us to meet cash obligations and off-balance sheet commitments as they come due.
• Institutions which are deemed to have concentrations in commercial real estate lending are expected to employ heightened levels of risk management with respect to their commercial real estate portfolios and may be required to hold higher levels of capital.
• The Company has an extensive Capital Policy and Capital Plan, which includes pro-forma projections including stress testing within which the Board of Directors has established internal minimum targets for regulatory capital ratios that are in excess of well capitalized ratios.
• Watch list loans are continually monitored going forward until satisfactory conditions exist that allow management to upgrade and remove the loan from the watchlist.
• The Company policies that were purchased directly from insurance companies and acquired as part of the HVBC acquisition are structured so that any death benefits received from a policy while the insured person is an active employee of the Bank will be split with the beneficiary of the policy.
• For these reasons, capital adequacy has been, and will continue to be, of paramount importance to the Company.
• To maintain proper liquidity, we use funds management policies, which include liquidity target ratios, along with our investment policies to assure we can meet our financial obligations to depositors, credit customers and stockholders.
• We use the model as part of our risk management and asset liability management processes that we believe will effectively identify, measure, and monitor the Company’s risk exposure.
• Additionally, the changes above do not necessarily represent the level of change under which management would undertake specific measures to realign its portfolio in order to reduce the projected level of change.

Citizens Financial Services' latest quarter

Questions

What does Citizens Financial Services expect?

We are invested in eight limited partnerships that have established low-income housing projects in our market areas, with our most recent investments made in the second quarter of 2026. We are currently recognizing credits on three projects and expect to recognize credits on the most recent investment in 2027. We anticipate recognizing an aggregate of $7.1 million of tax credits over the next 11 years.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.