Form 8-K - Current report
September 14 2023 - 10:23AM
Edgar (US Regulatory)
false
0001075706
0001075706
2023-09-12
2023-09-12
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934
September 12, 2023
Date of Report (Date of earliest event reported)
CITIZENS HOLDING COMPANY
(Exact name of the registrant as specified in its charter)
Mississippi |
001-15375 |
64-0666512 |
(State or other |
(Commission File Number) |
(IRS Employer |
jurisdiction of |
|
Identification No.) |
incorporation) |
|
|
521 Main Street, Philadelphia, Mississippi |
39350 |
(Address of principal executive office) |
(Zip Code) |
(601) 656-4692
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
|
Trading Symbol(s)
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Name of Each Exchange on
Which Registered
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Common Stock, $0.20 par value
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CIZN
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NASDAQ Global Market
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Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosure.
On September 12, 2023, Citizens Holding Company issued a press release announcing the declaration of a cash dividend of $.16 per share of common stock for the third quarter of 2023. This press release is furnished as Exhibit 99.1 to this Form 8-K.
Item 9.01. Financial Statements and Exhibits.
Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CITIZENS HOLDING COMPANY
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BY:
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/s/ Phillip R. Branch
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Phillip R. Branch
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Treasurer and Chief Financial Officer
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DATE: September 14, 2023
Exhibit 99.1
Citizens Holding Company Announces Quarterly Dividend
PHILADELPHIA, Miss.--(BUSINESS WIRE)--Citizens Holding Company (the “Company”) (NASDAQ:CIZN) today announced that its Board of Directors has declared a quarterly dividend of $0.16 per share on its common stock. The dividend is payable on September 29, 2023, to shareholders of record as of September 22, 2023.
“We are pleased to announce our quarterly dividend, which reflects our continued commitment to returning value to our shareholders,” said Stacy Brantley, CEO of the Company. “While certain headwinds to earnings persist, we are focused on strengthening and improving customer service and offerings in order to deepen and grow core relationships. We continue to analyze our balance sheet seeking strategic opportunities to provide capital, improve earnings, and manage interest rate risk.”
At a dividend of $0.16 per share, the Company’s dividend yield is approximately 6%. This reflects the Company’s strong capital position and our commitment to returning value to shareholders.
About Citizens Holding Company
Citizens Holding Company is a one-bank holding company and the parent company of The Citizens Bank of Philadelphia, both headquartered in Philadelphia, Mississippi. The Bank currently has twenty-seven banking locations in fourteen counties throughout the state of Mississippi. In addition to full service commercial banking, the Company offers mortgage loans, title insurance services through third party partnerships and a full range of Internet banking services including online banking, bill pay and cash management services for businesses. Internet services are available at the Bank web site, www.thecitizensbankphila.com. Citizens Holding Company stock is listed on the NASDAQ Global Market and is traded under the symbol CIZN. The Company's transfer agent is American Stock Transfer & Trust Company. Investor relations information may be obtained at the corporate website, https://www.thecitizensbankphila.com/investor-relations.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this release regarding the Company’s business strategies, plans, objectives and expectations for future operations, are forward-looking statements. The Company can give no assurances that the assumptions upon which such forward-looking statements are based will prove to have been correct. Forward-looking statements speak only as of the date they are made. The Company does not undertake a duty to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. Such forward-looking statements are subject to certain risks, uncertainties and assumptions. The risks and uncertainties that may affect the operation, performance, development and results of the Company’s and the Bank’s business include, but are not limited to, the following: (a) the risk of adverse changes in business conditions in the banking industry generally and in the specific markets in which the Company operates; (b) our ability to mitigate our risk exposures; (c) changes in the legislative and regulatory environment that negatively impact the Company and Bank through increased operating expenses; (d) increased competition from other financial institutions; (e) the impact of technological advances; (f) expectations about the movement of interest rates, including actions that may be taken by the Federal Reserve Board in response to changing economic conditions; (g) changes in asset quality and loan demand; (h) expectations about overall economic strength and the performance of the economics in the Company’s market area; and (i) other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission. Should one or more of these risks materialize or should any such underlying assumptions prove to be significantly different, actual results may vary significantly from those anticipated, estimated, projected or expected.
Contacts
Citizens Holding Company, Philadelphia
Phillip R. Branch, 601/656-4692
Phillip.branch@thecitizensbank.bank
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Sep. 12, 2023 |
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Entity, Registrant Name |
CITIZENS HOLDING COMPANY
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Document, Type |
8-K
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Sep. 12, 2023
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Entity, Incorporation, State or Country Code |
MS
|
Entity, File Number |
001-15375
|
Entity, Tax Identification Number |
64-0666512
|
Entity, Address, Address Line One |
521 Main Street
|
Entity, Address, City or Town |
Philadelphia
|
Entity, Address, State or Province |
MS
|
Entity, Address, Postal Zip Code |
39350
|
City Area Code |
601
|
Local Phone Number |
656-4692
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