Citizens Financial announces executive bonuses for FY 2024

Citizens Financial Services (OTC:CZFS) Inc. (NASDAQ:CZFS), a profitable financial institution with a market capitalization of $291 million and a "GOOD" financial health rating according to InvestingPro, disclosed the bonus payments for its executive officers for the fiscal year 2024 on Thursday, following the completion of evaluations by the company’s Board of Directors on May 21, 2025. The information, which updates previously filed statements, includes cash bonuses for four top executives under the company’s Annual Incentive Plan.

CEO and President Randall E. Black received the highest bonus of $545,991, followed by Senior Executive Vice President, COO, and Treasurer Mickey L. Jones with $169,681. Senior Executive Vice President and Director of Emerging Markets David Z. Richards, Jr. was awarded $83,265, and Senior Executive Vice President and Chief Credit Officer Jeffrey L Willson earned $64,367.

The cash bonuses are part of the executives’ total compensation and are reflected in the Non-Equity Incentive Plan Compensation column of the Summary Compensation Table for fiscal year 2024. The company’s strong performance is reflected in its attractive P/E ratio of 9.96 and revenue growth of 9.5% over the last twelve months, with InvestingPro analysis suggesting the stock is currently undervalued. As a result, the total compensation reported for these executives has increased, with Black’s total reaching $1,399,597, Jones’ $497,146, Richards’ $486,388, and Willson’s $383,341.

In compliance with the Dodd-Frank Wall Street Reform and Consumer Protection Act, the company also reported the CEO pay ratio, which compares the total annual compensation of the CEO with that of the median employee. For fiscal year 2024, the median annual compensation was $50,586, while Black’s was $1,399,598, resulting in a pay ratio of 27.7.

This announcement, based on a press release statement, comes after the initial proxy statement filed on March 6, 2025, did not include the bonus amounts as they had not been determined at the time. The filing ensures transparency in executive compensation in line with regulatory requirements. Notably, Citizens Financial Services has maintained dividend payments for 33 consecutive years and currently offers a 3.24% dividend yield, demonstrating long-term financial stability. InvestingPro subscribers can access 6 additional key insights about the company’s financial health and growth prospects.

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