Citizens Bancorp Investment : Quarterly Balance Sheet & Income Statement - 2nd Quarter 2022

Citizens Bancorp Investment, Inc.

Consolidated Balance Sheet (Unaudited)

(In Thousands, Except Per Share Data)

Assets

June 30	June 30
2022	2021

Cash and Due from Banks - Noninterest-bearing		23,779			21,531
Due from Banks - Interest-bearing		85,101			194,321
Securities in Available for Sale		419,413			328,619
Federal Funds Sold		1,000			1,000
Loans and Leases		875,901			794,005
Less: Allowance for Loan & Lease Losses			(11,270)			(10,485)
Loans and Leases - Net of Allowance		864,631			783,520
Fixed Assets		20,365			20,870
Goodwill and Other Intangible Assets		22,486			21,198
Cash Surrender Value of Life Insurance		20,093			19,698
Annuity Investments		3,766			3,820
Accrued Interest Receivable		5,096			5,038
Other Real Estate		40			40
Other Assets			17,106			8,090
Total Assets		$	1,482,876		$	1,407,745
Liabilities
Deposits - Noninterest-bearing		282,409			246,160
Deposits - Interest-bearing			1,047,402			976,672
Total Deposits		1,329,811			1,222,832
FHLB Borrowing and Other Borrowings		30,985			45,530
Other Liabilities			5,844			6,742
Total Liabilities		1,366,640			1,275,104
Stockholders' Equity
Total Stockholder's Equity		116,236			132,641
Total Liabilities and Stockholder's Equity		$	1,482,876		$	1,407,745
Common Stock Information
Common Shares Outstanding		5,881,000			5,872,200
Book Value Per Share	$	19.76	$	22.59
Tangible Book Value Per Share	$	15.94	$	19.11
Most Recent Stock Price	$	43.00	$	30.00
Capital Ratios
Equity to Assets Ratio		7.84%			9.42%
Tangible Equity to Assets Ratio		6.32%			7.97%

Asset Quality Ratios

Net Charge-Offs to Average Loans (Annualized)	-0.01%	0.04%
Allowance for Loan Losses to Loans	1.29%	1.32%

Citizens Bancorp Investment, Inc.

Consolidated Statements of Income (Unaudited)

(In Thousands, Except Per Share Data)

Three Months Ended		Six Months Ended
June 30	June 30		June 30	June 30
2022	2021	2022	2021

Interest Income

Interest Income and Fees on Loans

Interest Income on Interest-bearing Bank Balances

Interest Income on Securities

Interest Income on Federal Funds Sold

Other Interest Income

Total Interest Income

Interest Expense

Interest Expense on Deposits

Interest Expense on Borrowings

Total Interest Expense

Net Interest Income

Provision for Loan Losses

Net Interest Income after Provision

Noninterest Income

Gain on Sale of Loans Held for Sale

Debit and ATM Card Income

Service Charges & OD Fees on Deposits

Earnings on BOLI and Annuity Contracts

Net Servicing Income

Other noninterest income

Total Noninterest Income

Security Gains & Losses

Noninterest Expense

Salaries & Employee Benefits

Premises & Fixed Asset Expense

Data Processing

Professional Fees

Debt Card and ATM Expense

Other Noninterest Expense

Total Noninterest Expense

Net Income or (Loss) before Income Taxes
Unrealized Holding Gains or Losses MES
Provision for Income Taxes
Net Income or (Loss)	$
Performance Ratios
Net Income Per Share (Basic)	$
Net Income Per Share (Fully Diluted)	$
Return on Average Assets
Return on Average Equity
Net Interest Margin (FTE)
Efficiency Ratio

10,513		11,784			20,676			23,621
223		40			293			73
1,932		1,390			3,553			2,562
2		-			2			-
30		35			51			62
12,700		13,249			24,575			26,318
954		1,022			1,901			2,242
253		335			514			694
1,207		1,357			2,415			2,936
11,493
	11,892			22,160			23,382
311		406			494			812
11,182		11,486			21,666			22,570
171		540			446			1,378
1,016		988			1,949			1,869
879		583			1,742			1,191
132		646			277			754
499		140			1,159			270
125		229			252			669
2,823		3,127			5,826			6,131
-		-			-			-
5,081		4,805			9,784			9,655
848		828			1,689			1,596
391		530			749			1,138
216		283			389			472
385		343			775			683
1,399		1,552			2,855			3,041
8,320		8,340			16,240			16,585
5,685
	6,273			11,252			12,116
-		(2)			(3)			(4)
1,260		1,289			2,410			2,572
4,425	$	4,982		$	8,839		$	9,540
0.75	$	0.85	$	1.50	$	1.62
0.74	$	0.84	$	1.48	$	1.60
1.20%		1.44%			1.20%			1.39%
15.04%		15.47%			14.34%			14.89%
3.35%		3.80%			3.23%			3.73%
58.1%		55.5%			58.0%			56.2%