CITIZENS FINANCIAL SERVICES Business Summary

Citizens Financial Services, Inc. (CZFS) operates as the bank holding company for First Citizens Community Bank (FCCB), a community-focused financial institution with a legacy dating back to 1872. The company generates revenue primarily through net interest income from a diversified loan portfolio, including residential, commercial, and agricultural real estate, as well as commercial and industrial lending. Its primary business segments are Community Banking, which provides traditional deposit and credit services, and a specialized Trust and Investment division that offers estate, retirement, and unique mineral management services. CZFS competes directly with regional players such as S&T Bancorp (STBA), ConnectOne Bancorp (CNOB), and Northwest Bancshares (NWBI). Within this competitive landscape, CZFS maintains a niche as a high-performing community bank with deep roots in rural and suburban Pennsylvania, New York, and Delaware, characterized by a conservative growth strategy and a strong dividend profile. The leadership team is anchored by Randall E. Black, who has served as President and CEO since 2004 and currently sits on the board of the Federal Reserve Bank of Philadelphia. He is supported by Executive Vice President and CFO Stephen J. Guillaume, who has overseen the company’s financial strategy since 2019 and led the integration of the 2023 HV Bancorp acquisition, and Chief Operating Officer Jeffrey R. White, who joined in 2024 with over 15 years of risk management experience from Northwest Bancshares. The company’s governance was recently bolstered by the January 2026 appointment of Joseph B. Bower, Jr., the former CEO of CNB Financial, to the Board of Directors. Notable institutional investors include Geode Capital Management, BlackRock, and Vanguard, reflecting a stable shareholder base aligned with the company’s long-term value creation and community-centric business model.