Page 1

CCFBANK ( 800 ) 590-9920 NEWS DETAILS IR Menu Citizens Community Bancorp , Inc. Earnings Increase 4 $ 0.47 Per Share in 3Q21 from 3Q20 ; 2021 Record Nir Earnings of $ 15.2 million ; Quarterly Loan Growth of $ 1 Million Excluding PPP Loan Paydowns Company Release - 10/25/2021 8:30 AM ET EAU CLAIRE , Wis . , Oct. 25 , 2021 ( GLOBE NEWSWIRE ) -- Citizens Community Bancorp , Inc. ( the " Company " ) ( Nasdaq : CZWI ) , the pare Community Federal N.A. ( the " Bank " or " CCFBank " ) , today reported earnings of $ 5.0 million and earnings per diluted share of $ 0.47 for the qua 30 , 2021 , compared to $ 4.7 million and $ 0.44 per diluted share for the quarter ended June 30 , 2021 , and $ 3.5 million and $ 0.31 per diluted sha September 30 , 2020 , respectively . Net income as adjusted ( non - GAAP ) 1 was $ 5.0 million and $ 0.47 per diluted share for the third quarter of 20 income as adjusted of $ 4.7 million and $ 0.44 per diluted share for the preceding quarter , and $ 3.3 million and $ 0.30 per diluted share for the thi For the first nine months of 2021 , earnings increased 66 % to a record $ 15.2 million , or $ 1.41 per diluted share compared to earnings of $ 9.2 m share , for the first nine months of 2020 . The Company's third quarter 2021 operating results reflected the following changes from the second quarter of 2021 : ( 1 ) increase in loan intere increase of $ 0.6 million in the accretion of deferred fees on the Small Business Administration's Paycheck Protection Program ( " SBA PPP " ) ; ( 2 ) interest income resulting from an increase in the investment portfolio size and lower deposit cost ; ( 3 ) decreases in gain on sale of loans of $ 0.5 loan origination and sales activity ; ( 4 ) an increase in compensation expense of $ 0.3 million largely due to higher incentive compensation based including loan growth ; and ( 5 ) the reversal of MSR impairment of $ 0.4 million . Book value per share was $ 15.77 at September 30 , 2021 , compared to $ 15.33 at June 30 , 2021 , and $ 14.10 at September 30 , 2020. Tangible ( non - GAAP ) 5 was $ 12.37 at September 30 , 2021 , compared to $ 11.95 at June 30 , 2021 and $ 10.75 at September 30 , 2020. Book value per sh over the past 12 months , an 11.8 % increase from September 30 , 2020. Tangible book value per share increased $ 1.62 over the past 12 month : September 30 , 2020. These increases were net of the Company's payment of the annual shareholder dividend in the first quarter of 2021 of $ 0 " We were pleased with our continued focus on building market share , the significant progress with PPP loan forgiveness for our clients and furt support areas . Our execution has produced strong results , including the 15 % increase in tangible book value year over year , 9 % year - to - date Ic disciplined operational and expense management . Stronger employment dynamics in our markets than national averages and the seasonal str contributed to exceptionally strong loan growth in all commercial loan types this quarter . SBA PPP loans decreased by $ 44 million to $ 31 millior SBA PPP loans originated . Our current loan pipeline is understandably softer following the strong quarterly performance and the seasonal slow and winter , " said Stephen Bianchi , Chairman , President and Chief Executive Officer . September 30 , 2021 Highlights : ( as of or for the 3 - month period ended September 30 , 2021 compared to June 30 , 2021 and September 30 , 2 Quarterly earnings of $ 5.0 million , or $ 0.47 per diluted share for the third quarter ended September 30 , 2021 , were the highest third quart company's history and up modestly from the quarter ended June 30 , 2021 , earnings of $ 4.7 million or $ 0.44 per diluted share , and increa ended September 30 , 2020 , earnings of $ 3.5 million or $ 0.31 per diluted share . Fiscal 2021 earnings have exceeded fiscal 2020's previo Year - over - year earnings for the nine - months ended September 30 , 2021 , were $ 15.2 million , or $ 1.41 per share compared to $ 9.2 million the nine months ended September 30 , 2020 . • Stockholders ' equity as a percent of total assets was 9.46 % at September 30 , 2021 , compared to 9.57 % at June 30 , 2021. Tangible comr percent of tangible assets ( non - GAAP ) 5 was 7.58 % at September 30 , 2021 , compared to 7.62 % at June 30 , 2021. “ The modest quarterly growth in shareholder's equity . We utilized a portion of our strong quarterly earnings to repurchase 180 thousand shares of stock during t made during the third quarter used all remaining shares authorized under our November 30 , 2020 share repurchase program . On July 23