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CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY
 12 Months Ended
Dec. 31, 2012
CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY [Abstract]  
CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY
19. CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY
 
CITIZENS FINANCIAL SERVICES, INC.
 
CONDENSED BALANCE SHEET
 
 
 
December 31,
 
(in thousands)
 
2012
 
 
2011
 
Assets:
 
 
 
 
 
 
  Cash
 
$
2,366
 
 
$
3,609
 
  Available-for-sale securities
 
 
1,286
 
 
 
1,154
 
  Investment in subsidiary:
 
 
 
 
 
 
 
 
    First Citizens Community Bank
 
 
93,363
 
 
 
84,136
 
  Other assets
 
 
520
 
 
 
510
 
Total assets
 
$
97,535
 
 
$
89,409
 
Liabilities:
 
 
 
 
 
 
 
 
  Other liabilities
 
$
560
 
 
$
441
 
  Borrowed funds
 
 
7,500
 
 
 
7,500
 
Total liabilities
 
 
8,060
 
 
 
7,941
 
Stockholders' equity
 
 
89,475
 
 
 
81,468
 
Total liabilities and stockholders' equity
 
$
97,535
 
 
$
89,409
 
 
CITIZENS FINANCIAL SERVICES, INC.
 
CONDENSED STATEMENT OF INCOME
 
 
 
Year Ended December 31,
 
(in thousands)
 
2012
 
 
2011
 
 
2010
 
Dividends from:
 
 
 
 
 
 
 
 
 
  Bank subsidiary
 
$
5,045
 
 
$
3,823
 
 
$
3,608
 
  Available-for-sale securities
 
 
51
 
 
 
42
 
 
 
34
 
Total dividends
 
 
5,096
 
 
 
3,865
 
 
 
3,642
 
Realized securities gains (losses)
 
 
58
 
 
 
(38
)
 
 
-
 
Expenses
 
 
611
 
 
 
488
 
 
 
423
 
Income before equity in undistributed
 
 
 
 
 
 
 
 
 
 
 
 
   earnings of subsidiary
 
 
4,543
 
 
 
3,339
 
 
 
3,219
 
Equity in undistributed
 
 
 
 
 
 
 
 
 
 
 
 
  earnings - First Citizens Community Bank
 
 
9,672
 
 
 
9,493
 
 
 
8,283
 
Net income
 
$
14,215
 
 
$
12,832
 
 
$
11,502
 
Comprehensive income
 
$
13,897
 
 
$
16,727
 
 
$
10,515
 
 
CITIZENS FINANCIAL SERVICES, INC.
 
STATEMENT OF CASH FLOWS
 
 
 
Year Ended December 31,
 
(in thousands)
 
2012
 
 
2011
 
 
2010
 
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
  Net income
 
$
14,215
 
 
$
12,832
 
 
$
11,502
 
  Adjustments to reconcile net income to net
 
 
 
 
 
 
 
 
 
 
 
 
      cash provided by operating activities:
 
 
 
 
 
 
 
 
 
 
 
 
        Equity in undistributed earnings of subsidiaries
 
 
(9,672
)
 
 
(9,493
)
 
 
(8,283
)
        Investment securities (gains) losses, net
 
 
(58
)
 
 
38
 
 
 
-
 
        Other, net
 
 
394
 
 
 
125
 
 
 
199
 
          Net cash provided by operating activities
 
 
4,879
 
 
 
3,502
 
 
 
3,418
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
 
  Purchases of available-for-sale securities
 
 
(141
)
 
 
(147
)
 
 
(542
)
  Proceeds from the sale of available-for-sale securities
 
 
110
 
 
 
184
 
 
 
-
 
          Net cash provided by (used in) investing activities
 
 
(31
)
 
 
37
 
 
 
(542
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
 
  Cash dividends paid
 
 
(4,601
)
 
 
(3,148
)
 
 
(3,162
)
  Purchase of treasury stock
 
 
(1,348
)
 
 
(851
)
 
 
(386
)
  Purchase of restricted stock
 
 
(142
)
 
 
(159
)
 
 
(9
)
          Net cash used in financing activities
 
 
(6,091
)
 
 
(4,158
)
 
 
(3,557
)
          Net decrease in cash
 
 
(1,243
)
 
 
(619
)
 
 
(681
)
Cash at beginning of year
 
 
3,609
 
 
 
4,228
 
 
 
4,909
 
Cash at end of year
 
$
2,366
 
 
$
3,609
 
 
$
4,228