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CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY | CONDENSED FINANCIAL INFORMATION – PARENT COMPANY ONLY The following condensed balance sheets as of December 31, 2023 and 2022, and condensed statements of operations and cash flows for the years ended December 31, 2023 and 2022, for Citizens Community Bancorp, Inc. should be read in conjunction with the accompanying consolidated financial statements and the notes thereto. Condensed Balance Sheets
|  | December 31, |  | December 31, |  |
|  | 2023 |  | 2022 |  |
Assets |  |  |  |  |  |
Cash and cash equivalents |  | $ | 18,175 |  |  | $ | 19,221 |  |  |
Equity investments |  | 1,691 |  |  | 946 |  |  |
Other assets |  | 402 |  |  | 386 |  |  |
Investment in subsidiary |  | 221,267 |  |  | 219,714 |  |  |
Total assets |  | $ | 241,535 |  |  | $ | 240,267 |  |  |
Liabilities and Stockholders' Equity |  |  |  |  |  |
Other borrowings |  | $ | 67,465 |  |  | $ | 72,409 |  |  |
Other liabilities |  | 736 |  |  | 770 |  |  |
Total liabilities |  | 68,201 |  |  | 73,179 |  |  |
Total stockholders’ equity |  | 173,334 |  |  | 167,088 |  |  |
Total liabilities and stockholders’ equity |  | $ | 241,535 |  |  | $ | 240,267 |  |  |
Statements of Operations
|  | Year ended December 31, |  | Year ended December 31,
|  | 2023 |  | 2022
Interest income |  | $ | — |  |  | $ | — |
Interest expense |  | 4,184 |  |  | 4,296 |
Net interest expense |  | (4,184) |  |  | (4,296) |
Dividend income from bank subsidiary |  | 12,000 |  |  | 6,000 |
Non-interest income |  | 127 |  |  | 422 |
Non-interest expense |  | (762) |  |  | (918) |
Net income before benefit for income taxes and equity in undistributed income of subsidiaries |  | 7,181 |  |  | 1,208 |
Benefit for income taxes |  | 1,073 |  |  | 1,310 |
Net earnings before equity in undistributed income of subsidiaries |  | 8,254 |  |  | 2,518 |
Equity in undistributed income of subsidiaries |  | 4,805 |  |  | 15,243 |
Net income |  | $ | 13,059 |  |  | $ | 17,761 |
Statements of Cash Flows
|  | Year ended December 31, |  | Year ended December 31, |  |
|  | 2023 |  | 2022 |  |
Change in cash and cash equivalents: |  |  |  |  |  |
Cash flows from operating activities: |  |  |  |  |  |
Net income |  | $ | 13,059 |  |  | $ | 17,761 |  |  |
Depreciation expense |  | 12 |  |  | 13 |  |  |
Net valuation gain on equity securities |  | (127) |  |  | (422) |  |  |
Stock based compensation expense |  | — |  |  | 3 |  |  |
Adjustments to reconcile net income to net cash provided by operating activities - Equity in undistributed income of subsidiary |  | (16,805) |  |  | (21,243) |  |  |
Net change in: |  |  |  |  |  |
Other assets |  | (28) |  |  | (14) |  |  |
Other liabilities |  | (34) |  |  | 424 |  |  |
Net cash used in operating activities |  | (3,923) |  |  | (3,478) |  |  |
Cash flows from investing activities: |  |  |  |  |  |
Purchase of equity investments |  | (750) |  |  | (300) |  |  |
Equity investment capital distribution |  | 132 |  |  | 136 |  |  |
Dividend from bank subsidiary |  | 12,000 |  |  | 6,000 |  |  |
Capital contribution to bank subsidiary |  | — |  |  | (15,000) |  |  |
Net cash provided by (used in) investing activities |  | 11,382 |  |  | (9,164) |  |  |
Cash flows from financing activities: |  |  |  |  |  |
Proceeds from other borrowings, net of origination costs |  | — |  |  | 34,191 |  |  |
Amortization of debt issuance costs |  | 223 |  |  | 398 |  |  |
Other borrowings principal reductions |  | (5,167) |  |  | (5,606) |  |  |
Other borrowings called and repaid |  | — |  |  | (15,000) |  |  |
Repurchase shares of common stock |  | (420) |  |  | (1,764) |  |  |
Surrender of restricted shares of common stock |  | (129) |  |  | (150) |  |  |
Common stock options exercised |  | 28 |  |  | 71 |  |  |
Cash dividends paid |  | (3,040) |  |  | (2,742) |  |  |
Net cash (used in) provided by financing activities |  | (8,505) |  |  | 9,398 |  |  |
Net decrease in cash and cash equivalents |  | (1,046) |  |  | (3,244) |  |  |
Cash and cash equivalents at beginning of year |  | 19,221 |  |  | 22,465 |  |  |
Cash and cash equivalents at end of year |  | $ | 18,175 |  |  | $ | 19,221 |  |  |

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- 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/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
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