10-Q Filing

CITIZENS HOLDING CO /MS/ CIK: 1075706 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001193125-22-142974`
Period End Date	20220331
Filing Date	20220506
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	d228792d10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 48 Cash Flow Statement 37 Comprehensive Income 18

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.20	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.20	USD	Point-in-time
Cash and due from banks	`CashAndDueFromBanks`	$13.23M	USD	Point-in-time
Cash and due from banks	`CashAndDueFromBanks`	$10.67M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	22.50M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	22.50M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.60M	shares	Point-in-time
Interest bearing deposits with other banks	`InterestBearingDepositsWithOtherBanks`	$59.22M	USD	Point-in-time
Interest bearing deposits with other banks	`InterestBearingDepositsWithOtherBanks`	$68.56M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.60M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	5.60M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	5.60M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$79.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$72.44M	USD	Point-in-time
Accumulated other comprehensive (loss) income, net of tax benefit (expense)	`AccumulatedOtherComprehensiveIncomeLossTax`	$3.92K	USD	Point-in-time
Accumulated other comprehensive (loss) income, net of tax benefit (expense)	`AccumulatedOtherComprehensiveIncomeLossTax`	$18.44K	USD	Point-in-time
Securities available for sale, at fair value	`AvailableForSaleSecuritiesDebtSecurities`	$631.84M	USD	Point-in-time
Securities available for sale, at fair value	`AvailableForSaleSecuritiesDebtSecurities`	$600.77M	USD	Point-in-time
Loans held for investment (LHFI), net of unearned income	`LoansAndLeasesReceivableBeforeFeesGross`	$583.19M	USD	Point-in-time
Loans held for investment (LHFI), net of unearned income	`LoansAndLeasesReceivableBeforeFeesGross`	$571.85M	USD	Point-in-time
Less allowance for loan losses, LHFI	`LoansAndLeasesReceivableAllowance`	$4.77M	USD	Point-in-time
Less allowance for loan losses, LHFI	`LoansAndLeasesReceivableAllowance`	$4.51M	USD	Point-in-time
Less allowance for loan losses, LHFI	`LoansAndLeasesReceivableAllowance`	$4.78M	USD	Point-in-time
Less allowance for loan losses, LHFI	`LoansAndLeasesReceivableAllowance`	$4.74M	USD	Point-in-time
Net LHFI	`LoansAndLeasesReceivableNetReportedAmount`	$578.42M	USD	Point-in-time
Net LHFI	`LoansAndLeasesReceivableNetReportedAmount`	$567.33M	USD	Point-in-time
Bank premises, furniture, fixtures and equipment, net	`PropertyPlantAndEquipmentNet`	$26.66M	USD	Point-in-time
Bank premises, furniture, fixtures and equipment, net	`PropertyPlantAndEquipmentNet`	$26.63M	USD	Point-in-time
Other real estate owned, net	`OtherRealEstateAndForeclosedAssets`	$1.42M	USD	Point-in-time
Other real estate owned, net	`OtherRealEstateAndForeclosedAssets`	$2.48M	USD	Point-in-time
Accrued interest receivable	`InterestReceivable`	$4.01M	USD	Point-in-time
Accrued interest receivable	`InterestReceivable`	$4.17M	USD	Point-in-time
Cash surrender value of life insurance	`CashSurrenderValueOfLifeInsurance`	$25.68M	USD	Point-in-time
Cash surrender value of life insurance	`CashSurrenderValueOfLifeInsurance`	$25.88M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$6.28M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$20.67M	USD	Point-in-time
Identifiable intangible assets, net	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$13.52M	USD	Point-in-time
Identifiable intangible assets, net	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$13.55M	USD	Point-in-time
Other assets	`OtherAssets`	$4.93M	USD	Point-in-time
Other assets	`OtherAssets`	$4.09M	USD	Point-in-time
Total assets	`Assets`	$1.36B	USD	Point-in-time
Total assets	`Assets`	$1.35B	USD	Point-in-time
Non-interest bearing deposits	`NoninterestBearingDepositLiabilities`	$302.71M	USD	Point-in-time
Non-interest bearing deposits	`NoninterestBearingDepositLiabilities`	$305.67M	USD	Point-in-time
Interest bearing deposits	`InterestBearingDepositLiabilities`	$809.18M	USD	Point-in-time
Interest bearing deposits	`InterestBearingDepositLiabilities`	$843.91M	USD	Point-in-time
Total deposits	`Deposits`	$1.15B	USD	Point-in-time
Total deposits	`Deposits`	$1.11B	USD	Point-in-time
Securities sold under agreement to repurchase	`SecuritiesSoldUnderAgreementsToRepurchase`	$105.80M	USD	Point-in-time
Securities sold under agreement to repurchase	`SecuritiesSoldUnderAgreementsToRepurchase`	$112.76M	USD	Point-in-time
Borrowings on secured line of credit	`LineOfCredit`	$18.00M	USD	Point-in-time
Borrowings on secured line of credit	`LineOfCredit`	$18.00M	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrentAndNoncurrent`	$345.00K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrentAndNoncurrent`	$328.00K	USD	Point-in-time
Deferred compensation payable	`DeferredCompensationLiabilityCurrentAndNoncurrent`	$9.64M	USD	Point-in-time
Deferred compensation payable	`DeferredCompensationLiabilityCurrentAndNoncurrent`	$9.54M	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$2.38M	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$2.89M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.29B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.26B	USD	Point-in-time
Common stock, $.20 par value, authorized 22,500,000 shares; 5,595,320 shares issued and outstanding at December 31, 2021 and 5,587,070 shares issued and outstanding at December 31, 2020	`CommonStockValue`	$1.12M	USD	Point-in-time
Common stock, $.20 par value, authorized 22,500,000 shares; 5,595,320 shares issued and outstanding at December 31, 2021 and 5,587,070 shares issued and outstanding at December 31, 2020	`CommonStockValue`	$1.12M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$18.29M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$18.33M	USD	Point-in-time
Accumulated other comprehensive (loss) income, net of tax benefit (expense) of $3,921 in 2021 and ($1,376) in 2020	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-11.79M	USD	Point-in-time
Accumulated other comprehensive (loss) income, net of tax benefit (expense) of $3,921 in 2021 and ($1,376) in 2020	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-55.48M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$98.97M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$98.28M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$62.95M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$106.48M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$119.55M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$105.90M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.35B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.36B	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Interest and fees on loans	`InterestAndFeeIncomeLoansAndLeases`	$6.40M	USD	1 Quarter
Interest and fees on loans	`InterestAndFeeIncomeLoansAndLeases`	$8.13M	USD	1 Quarter
Taxable	`InterestIncomeSecuritiesTaxable`	$262.00K	USD	1 Quarter
Taxable	`InterestIncomeSecuritiesTaxable`	$1.70M	USD	1 Quarter
Non-taxable	`InterestIncomeSecuritiesTaxExempt`	$947.00K	USD	1 Quarter
Non-taxable	`InterestIncomeSecuritiesTaxExempt`	$671.00K	USD	1 Quarter
Other interest	`OtherInterestAndDividendIncome`	$13.00K	USD	1 Quarter
Other interest	`OtherInterestAndDividendIncome`	$15.00K	USD	1 Quarter
Total interest income	`InterestAndDividendIncomeOperating`	$9.08M	USD	1 Quarter
Total interest income	`InterestAndDividendIncomeOperating`	$9.05M	USD	1 Quarter
Deposits	`InterestExpenseDeposits`	$1.27M	USD	1 Quarter
Deposits	`InterestExpenseDeposits`	$556.00K	USD	1 Quarter
Other borrowed funds	`InterestExpenseBorrowings`	$180.00K	USD	1 Quarter
Other borrowed funds	`InterestExpenseBorrowings`	$211.00K	USD	1 Quarter
Total interest expense	`InterestExpense`	$767.00K	USD	1 Quarter
Total interest expense	`InterestExpense`	$1.45M	USD	1 Quarter
Net interest income	`InterestIncomeExpenseNet`	$8.29M	USD	1 Quarter
Net interest income	`InterestIncomeExpenseNet`	$7.63M	USD	1 Quarter
Provision for loan losses	`ProvisionForLoanAndLeaseLosses`	$93.00K	USD	1 Quarter
Provision for loan losses	`ProvisionForLoanAndLeaseLosses`	$87.00K	USD	1 Quarter
Net interest income after provision for loan losses	`InterestIncomeExpenseAfterProvisionForLoanLoss`	$8.19M	USD	1 Quarter
Net interest income after provision for loan losses	`InterestIncomeExpenseAfterProvisionForLoanLoss`	$7.55M	USD	1 Quarter
Net gains on sales of securities	`DebtAndEquitySecuritiesGainLoss`	-	USD	1 Quarter
Net gains on sales of securities	`DebtAndEquitySecuritiesGainLoss`	$526.00K	USD	1 Quarter
Other income	`NoninterestIncomeOtherOperatingIncome`	$917.00K	USD	1 Quarter
Other income	`NoninterestIncomeOtherOperatingIncome`	$563.00K	USD	1 Quarter
Total non-interest income	`NoninterestIncome`	$3.23M	USD	1 Quarter
Total non-interest income	`NoninterestIncome`	$2.53M	USD	1 Quarter
Salaries and employee benefits	`LaborAndRelatedExpense`	$4.57M	USD	1 Quarter
Salaries and employee benefits	`LaborAndRelatedExpense`	$4.44M	USD	1 Quarter
Occupancy expense	`OccupancyNet`	$1.82M	USD	1 Quarter
Occupancy expense	`OccupancyNet`	$1.77M	USD	1 Quarter
Other expense	`OtherNoninterestExpense`	$2.08M	USD	1 Quarter
Other expense	`OtherNoninterestExpense`	$2.09M	USD	1 Quarter
Total other expenses	`NoninterestExpense`	$8.30M	USD	1 Quarter
Total other expenses	`NoninterestExpense`	$8.47M	USD	1 Quarter
INCOME BEFORE PROVISION FOR INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.31M	USD	1 Quarter
INCOME BEFORE PROVISION FOR INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.43M	USD	1 Quarter
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$390.00K	USD	1 Quarter
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$413.00K	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$1.90M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$2.04M	USD	1 Quarter
NET INCOME PER SHARE -Basic	`EarningsPerShareBasic`	$0.36	USD	1 Quarter
NET INCOME PER SHARE -Basic	`EarningsPerShareBasic`	$0.34	USD	1 Quarter
NET INCOME PER SHARE -Diluted	`EarningsPerShareDiluted`	$0.34	USD	1 Quarter
NET INCOME PER SHARE -Diluted	`EarningsPerShareDiluted`	$0.36	USD	1 Quarter
DIVIDENDS PAID PER SHARE	`CommonStockDividendsPerShareCashPaid`	$0.24	USD	1 Quarter
DIVIDENDS PAID PER SHARE	`CommonStockDividendsPerShareCashPaid`	$0.24	USD	1 Quarter

Cash Flow Statement 37 line items

Line Item	Tag	Value	Unit	Period
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.98M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.84M	USD	1 Quarter
Proceeds from maturities and calls of securities available for sale	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$15.80M	USD	1 Quarter
Proceeds from maturities and calls of securities available for sale	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$77.73M	USD	1 Quarter
Proceeds from sale of investment securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	1 Quarter
Proceeds from sale of investment securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$206.12M	USD	1 Quarter
Purchases of investment securities available for sale	`PaymentsToAcquireAvailableMarketableSecurities`	$400.13M	USD	1 Quarter
Purchases of investment securities available for sale	`PaymentsToAcquireAvailableMarketableSecurities`	$43.89M	USD	1 Quarter
Purchases of bank premises and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$250.00K	USD	1 Quarter
Purchases of bank premises and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$259.00K	USD	1 Quarter
Purchases of federal home loan bank stock	`PaymentsToAcquireFederalHomeLoanBankStock`	-	USD	1 Quarter
Purchases of federal home loan bank stock	`PaymentsToAcquireFederalHomeLoanBankStock`	$717.00K	USD	1 Quarter
Proceeds from sale of other real estate owned	`ProceedsFromSaleOfForeclosedAssets`	$364.00K	USD	1 Quarter
Proceeds from sale of other real estate owned	`ProceedsFromSaleOfForeclosedAssets`	$1.08M	USD	1 Quarter
Net change in loans	`PaymentsForProceedsFromLoansAndLeases`	$-11.17M	USD	1 Quarter
Net change in loans	`PaymentsForProceedsFromLoansAndLeases`	$11.18M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-39.15M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-105.00M	USD	1 Quarter
Net change in deposits	`IncreaseDecreaseInDeposits`	$37.69M	USD	1 Quarter
Net change in deposits	`IncreaseDecreaseInDeposits`	$134.43M	USD	1 Quarter
(Decrease) increase in securities sold under agreement to repurchase	`ProceedsFromPaymentsForOtherFinancingActivities`	$1.44M	USD	1 Quarter
(Decrease) increase in securities sold under agreement to repurchase	`ProceedsFromPaymentsForOtherFinancingActivities`	$-6.96M	USD	1 Quarter
Payment of federal home loan bank (FHLB) advances	`ProceedsFromRepaymentsOfFHLBankBorrowingsFinancingActivities`	$-25.00M	USD	1 Quarter
Payment of dividends	`PaymentsOfDividends`	$1.34M	USD	1 Quarter
Payment of dividends	`PaymentsOfDividends`	$1.34M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$29.38M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$109.53M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$9.37M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-6.79M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$42.31M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$51.68M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$79.24M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$72.44M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$42.31M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$51.68M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$79.24M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$72.44M	USD	Point-in-time

Comprehensive Income 18 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.90M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.04M	USD	1 Quarter
Net unrealized holding losses	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$-58.20M	USD	1 Quarter
Net unrealized holding losses	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$-18.74M	USD	1 Quarter
Income tax effect	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$-14.52M	USD	1 Quarter
Income tax effect	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$-4.67M	USD	1 Quarter
Net unrealized losses	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-14.06M	USD	1 Quarter
Net unrealized losses	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-43.68M	USD	1 Quarter
Reclassification adjustment for gains included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax`	-	USD	1 Quarter
Reclassification adjustment for gains included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax`	$-526.00K	USD	1 Quarter
Income tax effect	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax`	$-131.00K	USD	1 Quarter
Income tax effect	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax`	-	USD	1 Quarter
Net gains included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	$-395.00K	USD	1 Quarter
Net gains included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	-	USD	1 Quarter
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-43.68M	USD	1 Quarter
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-13.67M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-11.77M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-41.65M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.