Citizens Holding Q3 net income jumps 83% on sale-leaseback gain
CIZN•Citizens Holding’s third-quarter net income rose 83% year over year to $4.32 million, helped by a branch sale-leaseback gain. Core net income increased 6%, while net interest income grew 8% to $11.87 million.
1. Earnings and gain
Citizens Holding reported third-quarter net income of $4.32 million, up 83% year over year, with branch sale-leaseback transactions generating a pretax gain. Core net income, excluding non-core items, increased 6%.
2. Interest income growth
Net interest income rose 8% year over year to $11.87 million. CEO Stacy Brantley attributed the expansion to loan growth, disciplined pricing and a focus on generating new low-cost deposits.
3. Outlook
The company expects solid loan growth for the rest of the year and plans to expand its treasury and mortgage lending teams heading into 2027. It expects credit quality issues to remain contained to two commercial and industrial relationships.
