Here are 1-2 brief analogies for Citizens Financial Services (CZFS):

• Bank of America for the Northeast and Midwest regions.
• U.S. Bank for the Eastern U.S.

• Deposits: Provides various checking, savings, money market, and certificate of deposit accounts for individuals and businesses.
• Consumer Lending: Offers a wide range of loans to individuals, including mortgages, auto loans, personal loans, and credit cards.
• Commercial Lending: Extends loans and lines of credit to businesses of all sizes, including financing for working capital, equipment, and commercial real estate.
• Treasury Management Services: Delivers comprehensive cash management, payment processing, and liquidity solutions to business and institutional clients.
• Wealth Management & Investment Advisory: Provides financial planning, investment management, and wealth advisory services to individuals and institutional investors.

Citizens Financial Services (CZFS) is a diversified financial services company that serves a broad range of customers. As a major regional bank, it operates significant retail banking divisions catering to individuals, alongside robust commercial banking divisions serving businesses of various sizes. Therefore, the most appropriate way to identify its major customers is by categorizing the types of clients it serves.

Here are the up to three major categories of customers that Citizens Financial Services serves:

• Individual Consumers and Households: This extensive segment includes personal banking customers who utilize a wide array of retail financial products and services. These offerings encompass checking and savings accounts, credit cards, mortgages, home equity loans, personal loans, and investment and wealth management services. Citizens caters to the general public across its branch network and digital channels.
• Small to Medium-Sized Businesses (SMBs): Citizens provides banking and financial solutions designed for local and regional businesses. This includes offerings such as business checking and savings accounts, lines of credit, term loans, commercial real estate financing, and treasury management services to help businesses manage their cash flow and support their growth.
• Middle-Market and Large Corporate Clients: This segment comprises larger businesses and corporations that require more complex commercial banking services. Citizens offers corporate lending, asset finance, treasury solutions, foreign exchange services, interest rate risk management, and capital markets advisory services to support the sophisticated financial needs of these larger entities.

• KPMG LLP
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• Mastercard Incorporated (MA)
• Equifax Inc. (EFX)
• TransUnion (TRU)
• Experian plc (EXPGY)
• Finastra
• ACI Worldwide (ACIW)

Randall E. Black, Chief Executive Officer, President, and Vice Chairman of the Board

Randall E. Black began his career at First Citizens in 1993. He served as controller, senior vice president of Finance, and chief financial officer of First Citizens National Bank from 1993 to 2004. He was appointed President of Citizens Financial Services Inc. and its subsidiary First Citizens Community Bank in March 2004, and Chief Executive Officer of Citizens Financial Services Inc. and First Citizens National Bank in April 2004. Prior to joining First Citizens, Mr. Black was employed by Parente, Randolph, Orlando, Carey & Associates, where his focus was on bank auditing. He also holds the titles of President & Chief Executive Officer at CZFS Acquisition Co. LLC and President, Chief Executive Officer & Director at First Citizens Community Bank. He has served on the Pennsylvania Bankers Association Board of Directors and as a Class A Director of the Federal Reserve Bank of Philadelphia.

Stephen J. Guillaume, Former Chief Financial Officer and Senior Vice President

Stephen J. Guillaume served as the Chief Financial Officer and Senior Vice President at Citizens Financial Services, Inc. since 2019 and Chief Financial Officer & Executive Vice President at First Citizens Community Bank since 2023. He began his career with First Citizens as the Bank's Controller in 2009 and was promoted to VP of Finance in 2013. However, his termination as Chief Financial Officer was announced in November 2023.

Jeffrey R. White, Chief Operating Officer

Jeffrey R. White was appointed Chief Operating Officer of Citizens Financial Services Inc., effective July 11, 2024. He brings over 15 years of experience in finance and risk. Prior to joining Citizens Financial Services, he served as Senior Vice President, Deputy Chief Risk Officer, and head of Enterprise Risk Management at Northwest Bancshares, Inc. from March 2023. His professional background also includes significant roles at KPMG LLP.

Jeffrey L. Wilson, Senior Executive Vice President and Chief Credit Officer

Jeffrey L. Wilson serves as the Senior Executive Vice President and Chief Credit Officer for Citizens Financial Services.

LeeAnn Gephart, Executive Vice President and Chief Banking Officer

LeeAnn Gephart holds the position of Executive Vice President and Chief Banking Officer at Citizens Financial Services.

• Increasing Competition from Digital-First Fintechs and Neobanks: Companies like Chime, Varo, Revolut, and N26 are offering highly digitized, user-friendly banking experiences with often lower fees and more tailored services, directly challenging Citizens Financial Services for customer acquisition and retention, particularly among younger demographics. These platforms are eroding traditional deposit bases, payment processing revenues, and consumer lending opportunities by leveraging technology for superior customer experience and operational efficiency, mirroring the disruption seen when Netflix challenged Blockbuster.
• Entry of Large Technology Companies into Core Banking Services: Major tech giants such as Apple, Google, and Amazon are increasingly expanding their financial service offerings. Apple's recent launch of a high-yield savings account directly competes for customer deposits, a vital funding source for traditional banks. These companies possess vast customer bases, powerful brand recognition, and advanced technological capabilities, enabling them to rapidly scale and potentially disintermediate Citizens Financial Services from key customer relationships and revenue streams, akin to how Apple's iPhone disrupted the mobile phone market dominated by BlackBerry.

Citizens Financial Services (symbol: CZFS) operates primarily as a community bank in Pennsylvania through its subsidiary, First Citizens Community Bank. The addressable markets for its main products and services in this region are as follows:

Deposit Products (Checking, Savings, Time Deposit Accounts)

While a specific market size for "retail banking deposits" in Pennsylvania is not readily available as a singular figure, the total assets for all banks in Pennsylvania were approximately $329.19 billion as of the second quarter of 2025. This figure provides a general scale of the banking market in the state where deposit products are a core offering.

Residential Real Estate Loans (Mortgages)

The mortgage market in Pennsylvania saw around 126,000 mortgage originations for owner-occupied homes in one- to four-unit buildings in 2022. In 2024, the average mortgage balance in Pennsylvania increased to $175,647. The median home sales price in Pennsylvania was $319,900 as of August 2025.

Commercial Lending (Commercial Real Estate, Commercial and Industrial Loans, Consumer Loans)

The Commercial Banking industry in Pennsylvania is projected to have a market size of $43.2 billion in 2025. This market encompasses commercial, industrial, and consumer loans, alongside deposit-taking activities.

Agricultural Real Estate Loans

The market value of agricultural products sold across all farms in Pennsylvania totaled approximately $7.76 billion. This indicates the economic activity within the agricultural sector that could drive demand for agricultural loans. The state's Agri-Link program offers low-interest loans up to $250,000 for agricultural operations, with Act 37 of 2019 authorizing up to $25 million for such loans.

Trust Administration and Investment Management Services

The total household wealth in Pennsylvania was estimated at roughly $5.0 trillion in 2023, with approximately $418 billion projected to be transferred between 2023 and 2033. This substantial wealth represents a significant addressable market for wealth management and trust services within the state.

Brokerage and Financial Planning Services

A specific market size for brokerage and financial planning services within Pennsylvania was not available. However, the United States securities brokerage market was valued at $188.9 billion in 2023 and is anticipated to grow to $280.5 billion by 2033. This provides a national context for the broader market.

Mutual Funds, Annuities, Health and Life Insurance Products

The Health & Medical Insurance industry in Pennsylvania is projected to have a market size of $108.9 billion in 2025. Additionally, the Insurance Brokers & Agencies industry in Pennsylvania is estimated at $12.5 billion in 2025. Pennsylvania ranks seventh nationally in total insurance premium volume.

Citizens Financial Services (symbol: CZFS) is expected to drive future revenue growth over the next two to three years through a combination of expanding its core banking activities, enhancing profitability metrics, and focusing on its established local market presence.

Here are 3-5 expected drivers of future revenue growth:

1. Expansion of Diverse Lending Portfolio: Citizens Financial Services underwrites a variety of lending products, including residential mortgage loans, home equity financing, commercial real estate loans, construction lending, and consumer installment loans. Future revenue growth is anticipated to come from the continued expansion and origination of these diverse loan products, particularly within its core Pennsylvania market and surrounding communities, where its local lending decisions are a key aspect of its strategy.

2. Growth in Total Loans and Deposits: The company has demonstrated consistent growth in its total assets, as well as an increase in total loans and deposits. Sustaining this growth in its deposit base is crucial for funding new loans, which in turn drives interest income. This will likely involve strategies to attract and retain customers despite ongoing competitive pressures for deposits. [cite: 7, 8 in previous search, 9 in previous search, 10 in previous search]

3. Improvement in Net Interest Margin (NIM): Citizens Financial Services has reported improvements in its net interest margin, with net interest income before the provision for credit losses increasing. Future revenue growth is expected to be driven by further expansion of the net interest margin through effective management of its interest-earning assets and interest-bearing liabilities. [cite: 8 in previous search, 10 in previous search]

4. Enhancement of Non-Interest Income: While non-interest income experienced a temporary decline in a recent period due to a prior year gain from a division sale, the company has shown periods of nice increases in this area. Strategic efforts to grow service charges, card fees, and other fee-based services are expected to contribute to revenue diversification and overall growth in the coming years. [cite: 7, 8 in previous search]

5. Leveraging Local Market Presence and Personalized Service: Citizens Financial Services distinguishes itself through its robust market presence and deep understanding of local economic landscapes within its operating regions. Its mission to foster financial well-being for clients through personalized service and a commitment to ethical business practices, supported by its extensive branch network and digital banking platforms, will continue to be a driver for customer acquisition and retention, thereby supporting revenue growth.

Outbound Investments

• Citizens Financial Services, Inc. completed the acquisition of HV Bancorp, Inc. in 2023.