Citizens Financial Services, Inc. Declares Quarterly Cash Dividend

MANSFIELD, Pa., Sept. 15, 2020 /PRNewswire/ -- The Board of Directors of Citizens Financial Services, Inc. (OTCPink: CZFS), the bank holding company for First Citizens Community Bank, recently declared a cash dividend for its shareholders.

The cash dividend of $0.46 per share is payable on September 25, 2020 to shareholders of record at the close of business on September 11, 2020. This quarterly cash dividend is an increase of 3.33% over the regular cash dividend of $0.445 per share declared one year ago, as adjusted for the 1% stock dividend declared in June 2020.

"Our 2020 financial results have allowed us to continue to pay an attractive cash dividend despite the uncertainty of the COVID-19 pandemic. Through it all, our Board of Directors has remained committed to providing a solid return to shareholders as we remain a strong, independent community bank," said Randall E. Black, CEO and President.

Citizens Financial Services, Inc. is a $1.85 billion bank holding company conducting business through First Citizens Community Bank.  First Citizens Community Bank operates 30 offices in Pennsylvania, Delaware and New York. 

For further information regarding the common stock of Citizens Financial Services, Inc., please contact any of the following firms:  Automated Trading Desk, 866-283-2831; Boenning & Scattergood, Inc., 800-842-8928; Keefe, Bruyette & Woods, Inc., 800-342-5529; Monroe Securities Inc., 800-766-5560; Pershing LLC, 201-413-2700; RBC Capital Markets Corp., 800-959-5951; Sandler O' Neill & Partners, 212-466-8020; Stifel, Nicolaus & Co., Inc., 973-549-4200; UBS Securities, LLC, 203-719-8710.

Note: This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. These factors include operating, legal and regulatory risks; changing economic and competitive conditions and other risks and uncertainties.

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SOURCE Citizens Financial Services, Inc.