XML 40 R26.htm IDEA: XBRL DOCUMENT
v3.8.0.1

CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY | 12 Months Ended
--- | ---
Dec. 31, 2017
CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY [Abstract] |
CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY | 18. CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY The following is condensed financial information for Citizens Financial Services, Inc.:
CITIZENS FINANCIAL SERVICES, INC. |
CONDENSED BALANCE SHEET |
|  | December 31, |
(in thousands) |  | 2017 |  |  | 2016 |
Assets: |  |  |  |  |  |
Cash |  | $ | 6,238 |  |  | $ | 2,245 |
Available-for-sale securities |  |  | 91 |  |  |  | 2,735 |
Investment in subsidiary: |  |  |  |  |  |  |  |
First Citizens Community Bank |  |  | 130,402 |  |  |  | 125,973 |
Other assets |  |  | 369 |  |  |  | 564 |
Total assets |  | $ | 137,100 |  |  | $ | 131,517 |
Liabilities: |  |  |  |  |  |  |  |
Other liabilities |  | $ | 589 |  |  | $ | 749 |
Borrowed funds |  |  | 7,500 |  |  |  | 7,500 |
Total liabilities |  |  | 8,089 |  |  |  | 8,249 |
Stockholders' equity |  |  | 129,011 |  |  |  | 123,268 |
Total liabilities and stockholders' equity |  | $ | 137,100 |  |  | $ | 131,517 |
CITIZENS FINANCIAL SERVICES, INC. |
CONDENSED STATEMENT OF INCOME |
|  | Year Ended December 31, |
(in thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |
Dividends from: |  |  |  |  |  |  |  |  |
Bank subsidiary |  | $ | 7,507 |  |  | $ | 5,842 |  |  | $ | 5,582 |
Equity securities |  |  | 60 |  |  |  | 92 |  |  |  | 71 |
Total income |  |  | 7,567 |  |  |  | 5,934 |  |  |  | 5,653 |
Realized securities gains |  |  | 1,021 |  |  |  | 31 |  |  |  | 76 |
Expenses |  |  | 824 |  |  |  | 463 |  |  |  | 892 |
Income before equity |  |  |  |  |  |  |  |  |  |  |  |
in undistributed earnings |  |  |  |  |  |  |  |  |  |  |  |
of subsidiary |  |  | 7,764 |  |  |  | 5,502 |  |  |  | 4,837 |
Equity in undistributed |  |  |  |  |  |  |  |  |  |  |  |
earnings - First Citizens Community Bank |  |  | 5,261 |  |  |  | 7,136 |  |  |  | 6,789 |
Net income |  | $ | 13,025 |  |  | $ | 12,638 |  |  | $ | 11,626 |
Comprehensive income |  | $ | 11,578 |  |  | $ | 11,482 |  |  | $ | 10,623 |
CITIZENS FINANCIAL SERVICES, INC. |
CONDENSED STATEMENT OF CASH FLOWS |
|  | Year Ended December 31, |
(in thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net income |  | $ | 13,025 |  |  | $ | 12,638 |  |  | $ | 11,626 |
Adjustments to reconcile net income to net |  |  |  |  |  |  |  |  |  |  |  |
cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed earnings of subsidiaries |  |  | (5,261 | ) |  |  | (7,136 | ) |  |  | (6,789 | )
Investment securities gains, net |  |  | (1,021 | ) |  |  | (31 | ) |  |  | (76 | )
Other, net |  |  | 629 |  |  |  | 230 |  |  |  | 322 |
Net cash provided by operating activities |  |  | 7,372 |  |  |  | 5,701 |  |  |  | 5,083 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Purchases of available-for-sale securities |  |  | (94 | ) |  |  | (1 | ) |  |  | (901 | )
Proceeds from the sale of available-for-sale securities |  |  | 2,828 |  |  |  | 201 |  |  |  | 113 |
Net cash provided by (used in) investing activities |  |  | 2,734 |  |  |  | 200 |  |  |  | (788 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Cash dividends paid |  |  | (5,177 | ) |  |  | (5,081 | ) |  |  | (5,151 | )
Purchase of treasury stock |  |  | (979 | ) |  |  | (3,227 | ) |  |  | (2,455 | )
Reissuance of treasury stock to employee stock purchase plan |  |  | 43 |  |  |  | 59 |  |  |  | - |
Purchase of restricted stock |  |  | - |  |  |  | - |  |  |  | (7 | )
Net cash used in financing activities |  |  | (6,113 | ) |  |  | (8,249 | ) |  |  | (7,613 | )
Net decrease in cash |  |  | 3,993 |  |  |  | (2,348 | ) |  |  | (3,318 | )
Cash at beginning of year |  |  | 2,245 |  |  |  | 4,593 |  |  |  | 7,911 |
Cash at end of year |  | $ | 6,238 |  |  | $ | 2,245 |  |  | $ | 4,593 |

X
- References No definition available. + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=96868048&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration