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CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY (Tables)
 12 Months Ended
Dec. 31, 2020
CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY [Abstract]  
Condensed Financial Information

The following is condensed financial information for Citizens Financial Services, Inc.:

CITIZENS FINANCIAL SERVICES, INC.
  
CONDENSED BALANCE SHEET
  
   
December 31,
  
(in thousands)
  
2020
    
2019
  
Assets:
            
Cash
  
$
5,301
    
$
7,166
  
Investments
    
1,866
      
617
  
Investment in subsidiary
    
194,312
      
154,501
  
Other assets
    
846
      
744
  
Total assets
  
$
202,325
    
$
163,028
  
                 
Liabilities:
                
Other liabilities
  
$
566
    
$
754
  
Borrowed funds
    
7,500
      
7,500
  
Total liabilities
    
8,066
      
8,254
  
Stockholders' equity
    
194,259
      
154,774
  
Total liabilities and stockholders' equity
  
$
202,325
    
$
163,028
  

CITIZENS FINANCIAL SERVICES, INC.
  
CONDENSED STATEMENT OF INCOME
  
   
Year Ended December 31,
  
(in thousands)
  
2020
    
2019
    
2018
  
Dividends from:
                  
Subsidiary
  
$
16,171
    
$
9,565
    
$
8,248
  
Equity securities
    
45
      
17
      
7
  
Total income
    
16,216
      
9,582
      
8,255
  
Realized securities gains (losses)
    
(23
)
    
101
      
-
  
Expenses
    
775
      
1,103
      
642
  
Income before equity in undistributed earnings of subsidiary
    
15,418
      
8,580
      
7,613
  
Equity in undistributed Earnings of subsidiary
    
9,685
      
10,910
      
10,421
  
Net income
  
$
25,103
    
$
19,490
    
$
18,034
  
Comprehensive income
  
$
28,319
    
$
22,782
    
$
17,510
  


CITIZENS FINANCIAL SERVICES, INC.
  
STATEMENT OF CASH FLOWS
  
   
Year Ended December 31,
  
(in thousands)
  
2020
    
2019
    
2018
  
Cash flows from operating activities:
                  
Net income
  
$
25,103
    
$
19,490
    
$
18,034
  
Adjustments to reconcile net income to net cash provided by operating activities:
                        
Equity in undistributed earnings of subsidiary
    
(9,685
)
    
(10,910
)
    
(10,421
)
Investment securities (gains) losses, net
    
23
      
(101
)
    
-
  
Other, net
    
14
      
717
      
(251
)
Net cash provided by operating activities
    
15,455
      
9,196
      
7,362
  
Cash flows from investing activities:
                        
Purchases of equity securities
    
(1,339
)
    
-
      
(425
)
Proceeds from the sale of equity securities
    
168
      
-
      
-
  
Acquisition of Midcoast
    
(7,614
)
                
Net cash provided by (used in) investing activities
    
(8,785
)
    
-
      
(425
)
Cash flows from financing activities:
                        
Cash dividends paid
    
(6,539
)
    
(6,315
)
    
(6,116
)
Purchase of treasury stock
    
(2,122
)
    
(1,291
)
    
(1,483
)
Reissuance of treasury stock to employee stock purchase plan
    
126
      
-
      
-
  
Net cash used in financing activities
    
(8,535
)
    
(7,606
)
    
(7,599
)
Net (decrease) increase in cash
    
(1,865
)
    
1,590
      
(662
)
Cash at beginning of year
    
7,166
      
5,576
      
6,238
  
Cash at end of year
  
$
5,301
    
$
7,166
    
$
5,576