American Bankers Association Adds Citizens Financial Services, Inc. to ABA Nasdaq Community Bank Index
MANSFIELD, PA (December 2022) – Citizens Financial Services, Inc. (Nasdaq: CZFS), the holding company of FCCB (First Citizens Community Bank), is pleased to announce its induction to the ABA (American Bankers Association) NASDAQ Community Bank Index (ABAQ), the nation’s most broadly representative stock index for community banks.
Citizens Financial Services, Inc. (CZFS) is one of five banks across the nation recently added to the index (ABAQ), which now includes 284 community banks with $272.1 billion in market capitalization. The index is calculated on both a total return and price return basis. It is reported daily as a total return index, which means that the value of reinvested dividends is included in the calculation. The total return index is commonly used as a benchmark in proxy statements throughout the community banking industry.
“We are honored to be included in the ABAQ index just six months after our uplisting to Nasdaq,” noted CZFS President and CEO, Randall E. Black. “Our company has experienced significant financial milestones this year, and this recognition is only fitting as we celebrate the close of our 150th anniversary year!”
Less than a month ago, FCCB opened two additional offices, expanding its branch network to 33 offices across three states. FCCB’s Greenville location is its fourth office in the state of Delaware and bridges the gap between the bank’s Kennett Square office in Chester County, PA, and its two Wilmington, DE offices. The other newly opened office, located in Ephrata, PA, brings the bank’s Lancaster County office count to three, with additional locations in downtown Mount Joy and an in-store branch in Weaver’s Store, Denver.
This growth-minded community bank has no plans to slow its progress, as CZFS recently announced its plans to acquire HV Bancorp, Inc. in a transaction expected to be completed in the first half of 2023. This strategically compelling merger is expected to enhance and expand CZFS’ presence in communities in Montgomery, Bucks, and Philadelphia Counties in Pennsylvania, New Castle County in Delaware, and Burlington County in New Jersey.
First Citizens Community Bank (FCCB) is headquartered in Mansfield, Pennsylvania, and currently operates 33 offices throughout Tioga, Bradford, Potter, Clinton, Centre, Union, Lebanon, Lancaster, Schuylkill, Berks, and Chester counties in Pennsylvania, Allegany County, New York, and New Castle, and Kent Counties in Delaware. For more information about First Citizens, call (800) 326-9486, visit www.myfccb.com, or find them on Facebook and LinkedIn.