UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 15, 2023

CITIZENS FINANCIAL SERVICES INC
(Exact name of registrant as specified in its charter)

Pennsylvania
 
001-41410
 
23-2265045
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)

15 S MAIN ST
MANSFIELD, Pennsylvania
 
16933
(Address of principal executive offices)
 
(Zip code)

Registrant's telephone number, including area code (570) 662-0444

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, Par Value $1.00 Per Share
 CZFS
 NASDAQ Capital Market

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter):

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
 
On August 15, 2023, Robert J. Marino, a member of the Board of Directors of Citizens Financial Services, Inc. (the “Company”), notified the Company of his resignation from the Company’s Board of Directors for personal reasons, effective September 5, 2023. Mr. Marino’s resignation was not the result of any disagreement between the Company and him on any matter relating to the Company’s operations, policies or practices.

Effective upon Mr. Marino’s resignation as a director, the size of the Company’s Board of Directors will be reduced from 13 to 12 directors.

In addition to resigning from the Board of Directors of the Company, Mr. Marino resigned from the Board of Directors of the Company’s subsidiary bank, First Citizens Community Bank (the “Bank”), and from his position as Chief Revenue Officer and Senior Executive Vice President of the Bank, effective September 5, 2023.

 
Item 9.01. Financial Statements and Exhibits

(d)
Exhibits
     
Exhibit
Number
  
Description
   
104
  
Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


  CITIZENS FINANCIAL SERVICES, INC.
 
       
August 16, 2023
By:
/s/ Stephen J. Guillaume
  
    Stephen J. Guillaume
  
    Chief Financial Officer
  
       





v3.23.2
Document and Entity Information
Aug. 15, 2023
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Aug. 15, 2023
Entity File Number 001-41410
Entity Registrant Name CITIZENS FINANCIAL SERVICES INC
Entity Central Index Key 0000739421
Entity Incorporation, State or Country Code PA
Entity Tax Identification Number 23-2265045
Entity Address, Address Line One 15 S MAIN ST
Entity Address, City or Town MANSFIELD
Entity Address, State or Province PA
Entity Address, Postal Zip Code 16933
City Area Code 570
Local Phone Number 662-0444
Title of 12(b) Security Common Stock, Par Value $1.00 Per Share
Trading Symbol CZFS
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
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