Citizens Holding Posts Higher Q1 Profit

(RTTNews) - Citizens Holding Company (CIZN) reported net income for the first quarter of $1.8 million or $0.37 per share, compared to $1.4 million or $0.29 per share for the year-ago quarter.

Net interest income for the first quarter of 2014, after the provision for loan losses for the quarter, was $6.86 million, 4.2% higher than the same period in 2013, due to a decrease in interest expense. The provision for loan losses for the first quarter was $361,000, compared to $175,000 for the same period last year.

Non-interest income increased in the first quarter of 2014 by 6.1%, while non-interest expenses decreased 2.9%, compared to the same period in 2013.