Citizens Community Bancorp, Inc. reported a net income of $3.8 million, or $0.39 per diluted share, for the first quarter of 2026, reflecting an increase from the $3.2 million, or $0.32 per diluted share, reported in the same period of 2025. The company's total interest income rose to $21.5 million, up from $21.1 million year-over-year, driven by a 20 basis point increase in loan yields and a decrease in deposit costs. Net interest income before provision for credit losses was $13.0 million, compared to $11.6 million in the prior year, while the provision for credit losses increased to $0.75 million from a negative provision of $0.25 million in the previous year.

Total assets for Citizens Community Bancorp increased to $1.82 billion as of March 31, 2026, compared to $1.78 billion at the end of 2025. The growth in assets was primarily attributed to an increase in cash and cash equivalents, which rose to $149.2 million from $118.9 million. Loans receivable also saw a modest increase, reaching $1.36 billion, up from $1.34 billion at the end of the previous year. The allowance for credit losses on loans was $22.97 million, reflecting a slight increase from $22.40 million at the end of 2025.

In terms of operational developments, the bank's total deposits increased by $41.5 million to $1.57 billion, with significant growth in commercial and public deposits. The composition of deposits remained stable, with consumer deposits accounting for 57%, commercial deposits 28%, and public deposits 14%. The bank's capital ratios remained strong, with a total capital ratio of 14.4% and a Tier 1 capital ratio of 13.2%, both well above the regulatory requirements for being classified as "well capitalized."

Looking ahead, Citizens Community Bancorp expressed optimism about its growth trajectory, citing stable economic conditions in its primary markets of Wisconsin and Minnesota. The bank plans to continue focusing on originating shorter-term loans and managing its interest rate risk through strategic asset and liability management. The company also noted that it is well-positioned to navigate potential challenges, including interest rate fluctuations and economic uncertainties, while maintaining a strong liquidity position.

About Citizens Community Bancorp Inc.

Citizens Community Bancorp, Inc. is a bank holding company that owns Citizens Community Federal N.A., a community bank serving Wisconsin and Minnesota. It offers commercial, agricultural, residential, and consumer banking services through 22 branches. The company focuses on small-business and individual customers, providing loans, deposit products, and investment securities, with core strengths in local market expertise, regulatory compliance, and community engagement.

This description was generated via AI from an annual report. Updated 8 months ago.

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