CZFSMEDIUM SIGNALOPERATIONAL10-K

CZFS completed corporate restructuring by formally terminating subsidiaries and achieved well-capitalized regulatory status while improving profitability.

The completion of subsidiary terminations (CZFS and Realty) represents successful organizational streamlining that may reduce operational complexity and costs. The bank's leverage ratio improvement to 9.54% from 8.99% elevates it to well-capitalized status under regulatory frameworks, providing greater operational flexibility and reduced regulatory oversight concerns.

Comparing 2026-03-12 vs 2025-03-06View on EDGAR →
FINANCIAL ANALYSIS

The company delivered solid financial performance with net income growing meaningfully by 31.5% to $36.6M and operating cash flow increasing 10.1% to $36.5M. Cash and equivalents declined 18.7% to $34.3M while stockholders equity grew 12.8% to $338.1M, suggesting effective capital deployment and retained earnings growth. The overall picture indicates improved profitability and stronger capital position despite lower cash reserves.

FINANCIAL STATEMENT CHANGES
Share Buybacks
Cash Flow
+77.2%
$202K→$358K

Share repurchases increased 77.2% — management returning capital, signals confidence in intrinsic value.

Net Income
P&L
+31.5%
$27.8M→$36.6M

Net income grew 31.5% — bottom-line growth signals improving overall business health.

Cash & Equivalents
Balance Sheet
-18.7%
$42.2M→$34.3M

Cash decreased 18.7% — monitor burn rate and upcoming capital needs.

Stockholders Equity
Balance Sheet
+12.8%
$299.7M→$338.1M

Equity base grew 12.8% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Operating Cash Flow
Cash Flow
+10.1%
$33.2M→$36.5M

Operating cash flow grew 10.1% — strong conversion of earnings to cash, healthy business fundamentals.

LANGUAGE CHANGES
NEW — 2026-03-12
PRIOR — 2025-03-06
ADDED
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.
As of March 3, 2026, there were 4,807,219 shares of the registrant s common stock outstanding.
During 2024, the Company terminated the corporate existence of CZFS and the interest in the Bank was transferred back to the Company.
During 2024, the Bank terminated the corporate existence of Realty.
HUMAN CAPITAL RESOURCES At December 31, 2025, we had a total of 405 employees, including 32 part-time and 8 commissioned employees and of which approximately 71% are women.
At December 31, 2025, the Bank s leverage ratio was 9.54%, which is more than the ratio required to be considered well-capitalized under the CBLR framework.
INSURANCE OF DEPOSIT ACCOUNTS The Bank s deposits are insured up to applicable limits by the Deposit Insurance Fund ( DIF ) of the FDIC.
For 2025, the Bank would have been required to maintain average daily reserves equal to 3% on aggregate transaction accounts of up to and including $645.8 million, plus 10% on the remainder, and the first $37.8 million of otherwise reservable balances would have been exempt.
The Corporation s management and Board of Directors, through the Asset-Liability Committee (the ALCO ), monitor liquidity and the ALCO establishes and monitors acceptable liquidity ranges.
10 Index Our allowance for credit losses amounted to $22.8 million, or 0.97% of total loans outstanding and 85.7% of nonperforming loans, on December 31, 2025.
REMOVED
As of February 25, 2025, there were 4,759,471 shares of the registrant s common stock outstanding.
During 2024, the Company began the process to terminate the corporate existence of CZFS.
During 2024, the Bank began the process to terminate the corporate existence of Realty.
HUMAN CAPITAL RESOURCES At December 31, 2024, we had a total of 410 employees, including 27 part-time and 9 commissioned employees and of which approximately 70% are women.
At December 31, 2024, the Bank s leverage ratio was 8.99%, which is less than the ratio required to be considered well-capitalized under the CBLR framework.
INSURANCE OF DEPOSIT ACCOUNTS The Bank s deposits are insured up to applicable limits by the Deposit Insurance Fund (DIF) of the FDIC.
For 2024, the Bank would have been required to maintain average daily reserves equal to 3% on aggregate transaction accounts of up to and including $644.0 million, plus 10% on the remainder, and the first $36.1 million of otherwise reservable balances would have been exempt.
The Corporation's management and Board of Directors, through the Asset-Liability Committee (the "ALCO"), monitor liquidity and the ALCO establishes and monitors acceptable liquidity ranges.
10 Index Our allowance for credit losses amounted to $21.7 million, or 0.94% of total loans outstanding and 84.4% of nonperforming loans, at December 31, 2024.
At December 31, 2024, we had $1.12 billion in loans secured by commercial real estate, $327.7 million in agricultural real estate loans, $164.3 million in construction loans and $131.3 million in other commercial loans.
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