ACQUISITION OF FNB (Tables)

12 Months Ended

Dec. 31, 2016

Business Acquisition [Line Items]

Summarizes the purchase of FNB

The following table summarizes the purchase of FNB as of December 11, 2015: 

(In Thousands, Except Per Share Data)
Purchase Price Consideration in Common Stock
Citizens Financial Services, Inc. shares issued		336,515
Value assigned to Citizens Financial Services, Inc. common share	$	47.50
Purchase price assigned to FNB common shares exchanged for Citizens Financial Services, Inc.				$	15,984
Purchase Price Consideration - Cash for Common Stock
Purchase price assigned to The First National Bank of Fredericksburg common shares exchanged for cash					5,619
Total Purchase Price					21,603
Net Assets Acquired:
The First National Bank of Fredericksburg shareholders' equity	$	12,298
Adjustments to reflect assets acquired at fair value:
Loans
Interest rate		31
General credit		(1,362	)
Specific credit - non-amortizing		(2,495	)
Specific credit - amortizing		(665	)
Core deposit intangible		1,641
Covenant not to compete		125
Premises and equipment		1,203
Leased premises contracts		(359	)
Other assets		(358	)
Deferred tax assets		785
Adjustments to reflect liabilities acquired at fair value:
Time deposits		(74	)
					10,770
Goodwill resulting from merger				$	10,833

Schedule of asset acquired and liability assumed

The following condensed statement reflects the amounts recognized as of the acquisition date for each major class of asset acquired and liability assumed:

(In Thousands)
Total purchase price				$	21,603
Assets (liabilities) acquired:
Cash and cash equivalents	$	83,514
Interest bearing time deposits with other banks		1,236
Securities available for sale		23,831
Loans		115,211
Premises and equipment, net		4,743
Accrued interest receivable		282
Bank-owned life insurance		4,598
Intangibles		1,981
Deferred tax asset		2,979
Other assets		2,332
Time deposits		(42,675	)
Deposits other than time deposits		(182,555	)
Accrued interest payable		(14	)
Other liabilities		(4,693	)
					10,770
Goodwill resulting from the FNB merger				$	10,833

Summary of integration costs and amortization of fair value adjustments

Merger and acquisition integration costs and amortization of fair value adjustments are included in the numbers below.

				Pro Formas
	Actual from Acquisition Date Through December 31, 2015			Twelve Months Ended December 31,
(In Thousands, Except Per Share Data)					2016		2015		2014
Net interest income	$	401		$	35,837	$	37,736	$	37,634
Non-interest income		21			7,899		8,576		8,184
Net income		(22	)		12,073		8,640		14,019
Pro forma earnings per share:
Basic				$	3.61	$	2.57	$	4.15
Diluted				$	3.61	$	2.57	$	4.15