UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 21, 2026

CITIZENS FINANCIAL SERVICES INC
(Exact name of registrant as specified in its charter)

Pennsylvania
 
001-41410
 
23-2265045
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)

15 S MAIN ST
MANSFIELD, Pennsylvania
 
16933
(Address of principal executive offices)
 
(Zip code)

Registrant's telephone number, including area code (570) 662-0444

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, Par Value $1.00 Per Share
 CZFS
 NASDAQ Capital Market

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter):

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01. Regulation FD Disclosure.

Citizens Financial Services, Inc. will conduct a presentation on Tuesday, April 21, 2026 at the 2026 Annual Meeting of Shareholders.  A copy of the presentation is furnished hereto as Exhibit 99.1 and is hereby incorporated by reference herein.
The information contained in this Item 7.01, including Exhibit 99.1 attached hereto, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d)
Exhibits
     
Exhibit
Number
  
Description
   
 
     
104
  
Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL)
   


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

             
       
CITIZENS FINANCIAL SERVICES, INC.
       

   
April 21, 2026      
By:
  
/s/ Stephen J. Guillaume
           
Stephen J. Guillaume
Chief Financial Officer
             







 Citizens Financial Services, Inc. 
 
 Our Two Goals for 2025  To leverage our new markets and new teams to create additional wealth, and 
 
 Our Two Goals for 2025  To leverage our new markets and new teams to create additional wealth, and  To organically improve capital levels that were impacted by the 2023 acquisition. 
 
 Results of our Actions  Experienced an All-Time  Record High in Earnings 
 
 Results of our Actions  How did we achieve such outstanding earnings?  Diligent net interest margin management, 
 
 Results of our Actions  How did we achieve such outstanding earnings?  Diligent net interest margin management,  Customer relationship growth,  
 
 Results of our Actions  How did we achieve such outstanding earnings?  Diligent net interest margin management,  Customer relationship growth,   Expansion of fee-based services,  
 
 Results of our Actions  How did we achieve such outstanding earnings?  Diligent net interest margin management,  Customer relationship growth,   Expansion of fee-based services,   Effective risk management, and 
 
 Results of our Actions  How did we achieve such outstanding earnings?  Diligent net interest margin management,  Customer relationship growth,   Expansion of fee-based services,   Effective risk management, and  Cost control and efficiencies. 
 
 2025 Financial Performance 
 
 Efficiency Ratio History  Finished in the 86th percentile compared to the CZFS peer group for 2025. 
 
 Return on Equity History  Finished in the 40th percentile compared to the CZFS peer group for 2025. 
 
 Return on Assets History  Finished in the 87th percentile compared to the CZFS peer group for 2025. 
 
 Cash Dividends Paid History  1% stock dividend paid in 2021, 2022, 2023, 2024 and 2025 
 
 Liquidity Position & Sources   Liquidity Sources  December 31, 2025  $ in Thousands  Cash and Cash Equivalents   $37,916   FHLB Borrowing Capacity Remaining  636,189  Brokered Deposits Capacity  590,629  FRB Borrowing Capacity  29,546  Total  $1,294,280   Investments     US Gov't & Agency  $181,297   MBS & CMO   $149,310   Municipals  $120,608   Corporates  $11,304   Less: Pledged Securities  -364,216  Net Unpledged Securities  $98,303   Total Liquidity Sources  $1,392,583  
 
 Key Financial Highlights  Balance Sheet     2023  2024  2025     Q1 2025  q2 2025  q3 2025  q4 2025  Total Assets     $2,975,321  $3,025,724  $3,064,564     $3,016,338  $2,967,274  $3,056,421  $3,064,564  Total Gross Loans     $2,258,215  $2,322,849  $2,360,015     $2,321,717  $2,257,284  $2,348,896  $2,360,015  Total Deposits     $2,321,481  $2,382,028  $2,376,979     $2,364,854  $2,292,662  $2,411,203  $2,376,979  Loans/Deposits     97.27%  97.52%  99.29%     98.18%  98.46%  97.42%  99.29%                                   Capital & Per Share                             Common Equity     $279,666  $299,734  $338,051     $308,296  $313,653  $327,682  $338,051  Tangible Common Equity     $190,258  $211,084  $250,072     $219,831  $225,365  $239,550  $250,072  Tang. Common Equity/Tangible Assets (1)  6.59%  7.19%  8.40%     7.51%  7.83%  8.07%  8.40%  Tang. Common Equity/Tangible Assets (Excluding AOCL) (1)  7.46%  7.99%  8.82%     8.20%  8.56%  8.56%  8.82%  Bank Leverage Ratio     8.54%  8.99%  9.54%     9.06%  9.22%  9.44%  9.54%  Bank Total RBC Ratio (4)     NA(1)  11.99%  NA(1)     NA(1)  NA(1)  NA(1)  NA(1)                                   Profitability                             Net Interest Margin     3.21%  3.13%  3.50%     3.30%  3.47%  3.60%  3.69%  Efficiency Ratio (3)     58.32%  61.89%  54.50%     59.27%  57.29%  55.97%  54.50%  Core ROAA (1)     1.09%  0.96%  1.21%     1.00%  1.13%  1.33%  1.37%  Core ROAE (1)     12.01%  9.84%  11.51%     10.00%  10.88%  12.52%  12.53%  Core ROATCE (1)     16.25%  14.19%  15.94%     14.09%  15.19%  17.29%  17.01%  Core Earnings Per Share Diluted (1) (2)   $ 6.47    $ 5.94    $ 7.62       $ 1.59    $ 1.76    $ 2.09    $ 2.18   Dividend per share (2)      $ 1.90    $ 1.93    $ 1.98       $ 0.490    $ 0.490    $ 0.500    $ 0.500   TBV per Share (2)      $ 39.63    $ 43.91    $ 52.02       $ 45.73    $ 46.88    $ 49.83    $ 52.02   Net Income         $ 17,811    $ 27,818    $ 36,572       $ 7,621    $ 8,463    $ 10,005    $ 10,483                                    Asset Quality                             NPAs/Assets     0.44%  0.95%  0.95%     0.91%  0.92%  0.75%  0.95%  NCOs/Avg Loans     0.06%  0.11%  0.03%     0.03%  0.10%  0.00%  0.01%  Reserves/Loans     0.94%  0.94%  0.97%     0.95%  0.99%  0.96%  0.97% 
 
 Results of Our 2025 Goals  Continue to amplify our efforts -  
 
 Results of Our 2025 Goals  Continue to amplify our efforts –   Fully engage our markets for growth, 
 
 Results of Our 2025 Goals  Continue to amplify our efforts –   Fully engage our markets for growth,  Lending teams, 
 
 Results of Our 2025 Goals  Continue to amplify our efforts –   Fully engage our markets for growth,  Lending teams,  Market leadership and facilities, 
 
 Results of Our 2025 Goals  Continue to amplify our efforts –   Fully engage our markets for growth,  Lending teams,  Market leadership and facilities,  New product and technology introductions, and 
 
 Results of Our 2025 Goals  Continue to amplify our efforts –   Fully engage our markets for growth,  Lending teams,  Market leadership and facilities,  New product and technology introductions, and  Take advantage of the improved borrowing environment. 
 
 CZFS Common Stock 
 
 CZFS Performance 
 
 Institutional Ownership  26.3 
 
 Shareholder Migration 
 
 Industry Recognition 
 
 Recognition 
 
 Contributions 
 
 More Than A Donation  Unity  In the  Community 
 
 Peace of Mind 
 
 Peace of Mind  Continuing our fight against cybersecurity and fraud. 
 
 FCCB Fraud Occurrences  Fraud Losses  2023  2024  2025  Transactions  Check Fraud  112  74  169  ACH Fraud  7  30  33  Combined Total  119  104  202  Fraudulent Activity  Check Fraud  $830,316  $685,474  $791,558  ACH Fraud  $52,701  $209,210  $157,792  Combined Total  $883,017  $894,684  $949,350  Customer  Loss  Check Fraud  $18,359  $129,896  $6,868  ACH Fraud  $6,500  $11,600  $1,999  Combined Total  $24,859  $141,496  $8,867  Bank  Loss  Check Fraud  $129,809  $149,503  $124,441  ACH Fraud  $0  $0  $0  Debit Card Losses  $168,561  $122,122  $109,609  Combined Total  $298,370  $271,624  $234,050 
 
 Peace of Mind  Continuing our fight against cybersecurity and fraud.  Hosted a scam awareness seminar. 
 
 Peace of Mind  Continuing our fight against cybersecurity and fraud.  Hosted a scam awareness seminar.  Participated in Bankers Day at the Capitol. 
 
 Peace of Mind  Continuing our fight against cybersecurity and fraud.  Hosted a scam awareness seminar.  Participated in Bankers Day at the Capitol.  Offering a Veterans Checking account. 
 
 Peace of Mind  Continuing our fight against cybersecurity and fraud.  Hosted a scam awareness seminar.  Participated in Bankers Day at the Capitol.  Offering a Veterans Checking account.  Updating digital banking channels. 
 
 Peace of Mind  Continuing our fight against cybersecurity and fraud.  Hosted a scam awareness seminar.  Participated in Bankers Day at the Capitol.  Offering a Veterans Checking account.  Updating digital banking channels.  Adding skilled board members. 
 
 2026 Challenges  & Opportunities 
 
 Challenges & Opportunities  Cryptocurrency 
 
 Challenges & Opportunities  Cryptocurrency  AI (into everyday banking operations) 
 
 Staggering Statistics  The Impact on PA Communities  Community banks headquartered in PA:  105  Community banks operating in PA:  123  Total deposits held at bank branches in PA:  $108 billion  Potential deposit outflows from PA banks to stablecoins:  $5.4 billion to $10.8 billion  Lost lending to PA households and businesses as a result of deposit outflow:  $4.6 billion - $9.3 billion drop in loans 
 
 Challenges & Opportunities  Cryptocurrency. . .   Customer Needs:  Custodial Services, 
 
 Challenges & Opportunities  Cryptocurrency. . .    Customer Needs:  Custodial services,  Tokenized deposits, and 
 
 Challenges & Opportunities  Cryptocurrency. . .    Customer Needs:  Custodial services,  Tokenized deposits, and  Collateral for loans 
 
 Challenges & Opportunities  Cryptocurrency. . .    Customer Needs:  Custodial services,  Tokenized deposits, and  Collateral for loans.   Investments In:  Technology, 
 
 Challenges & Opportunities  Cryptocurrency. . .    Customer Needs:  Custodial services,  Tokenized deposits, and  Collateral for loans.   Investments In:  Technology,  Policy development, 
 
 Challenges & Opportunities  Cryptocurrency. . .    Customer Needs:  Custodial services,  Tokenized deposits, and  Collateral for loans.   Investments In:  Technology,  Policy development,  Regulatory compliance, and 
 
 Challenges & Opportunities  Cryptocurrency. . .    Customer Needs:  Custodial services,  Tokenized deposits, and  Collateral for loans.   Investments In:  Technology,  Policy development,  Regulatory compliance, and  Employee training. 
 
 Challenges & Opportunities  IA. . .   Improvements In:  Operational efficiency, 
 
 Challenges & Opportunities  IA. . .   Improvements In:  Operational efficiency,  Fraud detection, 
 
 Challenges & Opportunities  IA. . .   Improvements In:  Operational efficiency,  Fraud detection,  Data quality, 
 
 Challenges & Opportunities  IA. . .   Improvements In:  Operational efficiency,  Fraud detection,  Data quality,  Decision making, and  
 
 Challenges & Opportunities  IA. . .   Improvements In:  Operational efficiency,  Fraud detection,  Data quality,  Decision making, and   Customer experience