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July 22, 2008
Citizens Bank of Northern California announced the hiring of Mary Anne Davis as Assistant Vice President, Marketing Officer for the Bank. read more |
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May 19, 2008
Citizens Bancorp, the holding company of Citizens Bank of Northern California, announced that its Board of Directors approved the declaration of a 5% stock dividend. read more |
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March 6, 2008
Citizens Bancorp, the holding company of Citizens Bank of Northern California, announced financial results for the twelve month period ended December 31, 2007. read more |
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November 1, 2007
Citizens Bancorp, the holding company of Citizens Bank of Northern California, announced financial results for the quarter ended September 30, 2007. read more |
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August 1, 2007
Citizens Bancorp, the holding company of Citizens Bank of Northern California, announced financial results for the quarter ended June 30, 2007. read more |
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May 8, 2007
Citizens Bancorp, the holding company of Citizens Bank of Northern California, today announced that its Board of Directors approved the declaration of a 5% stock dividend. read more |
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April 26, 2007
Citizens Bancorp, the holding company of Citizens Bank of Northern California, announced financial results for the three month period ended March 31, 2007. read more |
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March 12, 2007
Citizens Bancorp, the holding company of Citizens Bank of Northern California, announced record earnings for the twelve month period ended December 31, 2006. read more |
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March 8, 2007
Citizens Bank of Northern California announced the hiring of Carmine DeCicco as Vice President, Commercial Banker for its Auburn Branch. read more |
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March 8, 2007
Citizens Bank of Northern California announced the hiring of Julie Frenzel as Vice President, Relationship Officer for its Penn Valley Branch. read more |
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January 10, 2007
Citizens Bank Enhances Its Online Banking Service With a Multi-Factor Authentication Security System. read more |
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January 2, 2007
Citizens Bank to Open Downtown Auburn Branch on January 9, 2007. read more |
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October 31, 2006
Citizens Bancorp Announces 3rd Quarter and YTD Earnings. read more |
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August 24, 2006
Citizens Bank to Open Truckee Branch Soon. read more |
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July 28, 2006
Citizens Bancorp Announces 2nd Quarter Earnings. read more |
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July 7, 2006
Citizens Bancorp Announces New Capital for Citizens Bank. read more |
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May 15, 2006
Citizens Bancorp Announces Stock Dividend . read more |
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May 9, 2006
Citizens Bancorp Stock Now Listed on the OTCBB . read more |
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April 21, 2006
Citizens Bancorp Announces Record 1st Quarter Earnings . read more |
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April 20, 2006
Citizens Bank of Nevada County Announces Name Change . read more |
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February 9, 2006
Citizens Bancorp Announces Record 4th Quarter Earnings . read more |
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January 27, 2006
Citizens Bank Announces Plan for New Truckee Branch . read more |
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December 2, 2005
Citizens Bank Announces Plan for New Downtown Auburn Branch . read more |
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November 8, 2005
Citizens Bank Names New Directors . read more |
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October 20, 2005
Citizens Bancorp Announces Record 3rd Quarter Earnings . read more |
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August 31, 2005
Citizens Bancorp Announces Capital Plans . read more |
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May 16, 2005
Citizens Bancorp Announces Stock Dividend . read more |
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February 9, 2006
Citizens Bancorp Announces Record 4th Quarter Earnings
Nevada City, California, February 9, 2006. Citizens Bancorp (the “Company”) (PINK SHEETS: CZNB), the holding company of Citizens Bank of Nevada County (the “Bank”), announced earnings for the 4th quarter and year-end 2005. For the twelve month period ending December 31, 2005, net income was $2,470,000, a 41% increase compared to $1,746,000 for the same period in 2004. For the twelve month period ending December 31, 2005, basic earnings per share were $1.55 compared to $1.12 for the twelve months ending December 31, 2004, and diluted earnings per share were $1.51 compared to $1.09 for the twelve months ending December 31, 2004.
For the three month period ending December 31, 2005, net income totaled $814,000, a 102% increase compared to $404,000 for the same quarter in 2004. Basic earnings per share for the three month period ending December 31, 2005, were $0.50, compared to $0.26 per share for the same period in 2004, and diluted earnings per share were $0.49, compared to $0.25 per share for the same period in 2004.
Earnings per share for three months and twelve months periods ending December 31, 2004 have been adjusted to reflect the payment of a 5% stock dividend on June 13, 2005.
Total assets for the Company increased 30% to $227.0 million at December 31, 2005 from $174.6 million at December 31, 2004. Total loans increased 38% to $206.7 million at December 31, 2005, compared to $149.3 million at December 31, 2004. Total deposits increased 25% to $189.6 million at December 31, 2005 from $151.9 million at December 31, 2004. Short term borrowings increased $7.9 million to $10.4 million at December 31, 2005 from $2.5 million at December 31, 2004.
In addition, capital was enhanced in August 2005, when the Company announced its participation in a pooled Trust Preferred Securities private offering for $3 million which is being used to support the Bank's continued growth. Under the terms of the trust preferred offering, the securities will mature in 30 years and are redeemable, in whole or in part, without penalty, at the option of Citizens Bancorp after five years. The securities have a floating rate, which will be reset quarterly, equal to the three-month LIBOR rate plus 1.50 percent. That brings the total of Trust Preferred Securities to $9 million, the first $3 million of which is redeemable in June 2008.
“The Bank’s growth was fueled by a continued demand for construction, home equity and commercial real estate loans”, said Judy Hess, President and CEO. She added “Our results speak to our support of business expansion in our community and, likewise, the investments we have made in consumer products and services.”
Founded in February 1995, Citizens Bank, headquartered in Nevada City, became a wholly owned subsidiary of the Company in 2004. The Bank has five branches in Nevada County, one in Nevada City, two in Grass Valley, one in Penn Valley and its newest branch in Lake of the Pines. Two new branches have been scheduled for opening in 2006, one in Truckee and one in Auburn, which will be the Bank's first entry into neighboring Placer County. Today, the Bank offers community banking services in the Nevada County market, including a wide variety of deposit products, commercial, residential and consumer loans, and other traditional banking products and services, designed to meet the needs of small and middle market businesses and individuals.
This news release may include forward-looking statements about Citizens Bancorp’s financial condition, results of operations, plans, objectives and future performance. A number of factors, many of which are beyond the control of Citizens Bancorp, could cause actual results to differ materially from those in the forward-looking statements. In addition, past results are not necessarily indicators of future performance. |
