EXHIBIT 99.2            Earnings Release Supplement  Third Quarter 2021     

Citizens Community Bancorp, Inc.  Table of Contents  Segment Profiles  COVID‐19 Related Loan Deferrals  Non‐Owner Occupied CRE  Owner Occupied CRE  Multi‐family  Commercial & Industrial Loans  Construction & Development Loans  Agricultural Real Estate & Operating Loans  Hotel Loans  Restaurant Loans  Credit Quality/Risk Rating Descriptions  Loans by Risk Rating as of September 30, 2021  Loans by Rish Rating as of June 30, 2021  Loans by Risk Rating as of December 31, 2020  Loans by Risk Rating as of September 30, 2020  Allowance for Loan Losses  Nonaccrual Loans Roll forward  Other Real Estate Owned Roll forward  Troubled Debt Restructurings in Accrual Status  Acquired Loans – Non‐accretable difference and accretable discount tables  Earnings Per Share  Selected Capital Composition Highlights – Bank and Company    Page(s)  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  17  17  18  19   20  1

COVID-19 Related Loan Deferrals Dollars in Thousands COVID-19 Deferrals Balance Number of Loans Commercial Deferrals Hotel Loans 19,191$ 2 Other Commercial Loans - - Total Commercial Deferrals 19,191 2 Residential Deferrals 1,442 12 Consumer Deferrals - - Total Deferrals 20,633$ 14 September 30, 2021 *Interest only deferral – borrower provided two years of principal and interest payments at time of deferral Commercial Loan Deferral Expiration by Quarter Balance Number of Loans Hotel Loans Quarter Ending December 31, 2021 $ 5,953* 1 Quarter Ending March 31, 2022 13,238* 1 Total Hotel Loans 19,191 2 Other Commercial Loans Quarter Ending December 31, 2021 -$ - Total Other Commercial Loans - - Total Commercial Deferral Expirations 19,191$ 2 2

Portfolio Fundamentals 55%35% 10% Wisconsin Minnesota Other By Geography As of 09/30/21 • Typically well seasoned investors with multiple projects, track record of success and personal financial strength (net worth/Liquidity) • Maximum LTV =<80% with recourse to owners with >20% interest • Term of 5-10 years with 20 to 25-year amortizations depending on property type, markets and strength and liquidity of sponsors • Minimum DSC and/or Global DSC covenant required to monitor performance ranging from 1.15x-1.25x • Conservative underwriting approach emphasizing actual results or market data • Appropriate use of SBA 504/7a for lower cash injection or special use projects Non – Owner Occupied CRE As of 09/30/21 As of 06/30/21 $426 $353 753 752 $566 $469 Approximate Weighted Average LTV 58% 59% 2.2x 2.3x Weighted Average Seasoning In Months 23 26 0.00% 0.00% Approximate Weighted Average DSCR Trailing 12 Month Net Charge-Offs Loan Balance Outstanding In Millions Number of Loans Average Loan Size In Thousands Portfolio Characteristics - Non-Owner Occupied CRE 26% 20% 12% 10% 9% 6% 6% 5% 2% 4% Hotel Investor Residential CRE - Office CRE - Senior Living CRE - Retail CRE - Warehouse/Mini Storage CRE - Industrial/Manufacturing CRE - Campground CRE - Mixed Use Other Non – Owner Occupied CRE As of 09/30/21 3

26% 16% 11% 11% 11% 7% 6% 12% CRE Campground CRE Restaurant CRE Industrial/Manufacturing CRE Retail CRE Warehouse/Mini Storage CRE Mixed Use CRE Office Other Owner Occupied CRE As of 09/30/21 Portfolio Fundamentals 71% 12% 17% Wisconsin Minnesota Other By Geography As of 09/30/21 • Underwritten to <80% LTV based on appraised value (<75% for Restaurant) • Term of 5-10 years with 20-year amortization • Recourse to owners with greater than 20% interest • DSC covenant of 1.25x on project and/or Global DSC of 1.15x • Appropriate use of SBA 504/7a for lower cash injection or special use projects • By Geography “Other” segment includes borrowers with warm climates, no income tax states Owner Occupied CRE As of 09/30/21 As of 06/30/21 $212 $207 421 425 $504 $488 Approximate Weighted Average LTV 47% 48% 2.2x 2.1x Weighted Average Seasoning In Months 29 32 0.00% 0.00% Approximate Weighted Average DSCR Trailing 12 Month Net Charge-Offs Portfolio Characteristics - Owner Occupied CRE Loan Balance Outstanding In Millions Number of Loans Average Loan Size In Thousands 4

Portfolio Fundamentals 69% 29% 2% Wisconsin Minnesota Other By Geography As of 09/30/21 100% Multi-family Multi-family As of 09/30/21 • Robust housing markets in Eau Claire and Mankato markets supported by student populations at state universities, technical colleges, and growing population and job markets • Multi-family sponsors experienced owners with multi-project portfolios • Typically underwritten to 75% LTV based on appraised value with recourse; metro markets and/or strong sponsors may warrant up to 80% LTV • Generally, term of 5-10 years with 20 to 25-year amortization (varies by new versus existing, size of market and sponsor strength) • Covenant for minimum DSC/Global DSC Multi-family As of 09/30/21 As of 06/30/21 $156 $121 111 104 $1.41 $1.17 69% 67% Approximate Weighted Average DSCR 1.8x 1.8x 18 21 0.00% 0.00% Approximate Weighted Average LTV Weighted Average Seasoning In Months Trailing 12 Month Net Charge-Offs Portfolio Characteristics - Multi-family Loan Balance Outstanding In Millions Number of Loans Average Loan Size In Millions 5

81% 18% 1% Wisconsin Minnesota Other By Geography As of 09/30/21 22% 11% 11% 8%7% 6% 6% 6% 4% 4% 4% 4% 3% 4% Manufacturing Public Admin Transportation and Warehousing Wholesale Trade Construction Real Estate, Rental and Leasing Agriculture Retail Trade Administrative Support Education Services Health Care Other Services Finance and Insurance Other Commercial & Industrial As of 09/30/21 Portfolio Fundamentals • Highly diversified, secured loan portfolio underwritten with recourse • Lines of credit reviewed annually and may have borrowing base certificates governing line usage • Fixed asset LTV’s based on age and type of equipment; <5-year amortization • Use of SBA Guaranty Program (Preferred Lender or General Processing) as appropriate • “Retail Trade” segment consists of Farm Supply, Franchised Hardware, Franchised Auto Parts, Franchised and Non-franchised Auto Dealers and Repair Shops, Convenience Stores/Gas Stations Commercial & Industrial Loans As of 09/30/21 As of 06/30/21 $107 $100 730 736 $147 $137 2.3x 2.7x 30 27 0.28% 0.35% Committed Line, if collateral 66 57 Approximate Weighted Average DSCR Weighted Average Seasoning In Months Trailing 12 Month Net Charge-Offs Portfolio Characteristics - Commercial & Industrial Loan Balance In Millions Number of Loans Average Loan Size In Thousands 6

Portfolio Fundamentals 23% 19% 15% 14% 10% 7% 12% Commercial 1-4 Family Construction CRE Multi-family CRE Warehouse/Mini Storage CRE Senior Living Land CRE Campground Other Commercial & Development As of 09/30/21 50% 38% 12% Wisconsin Minnesota Other By Geography As of 09/30/21 • Underwritten to 75-80% LTV based on lesser of cost or appraised value with full recourse • Interest only typically up to 18 months (depending on project complexity and seasonal timing) followed by amortization of 15-25 years (terms vary by property type) • Borrower equity contribution of cash/land value =>15% injected at the beginning of project (cash/land contribution) • Construction loans require 3rd party inspections and title company draws after balancing to sworn construction statement • 1-4 residential construction centered in eastern Twin Cities and Northwest Wisconsin. Generally 80% LTC /60%-80% of AV. Spec building capped. Progress reporting monthly by individual home Construction & Development Loans As of 09/30/21 As of 06/30/21 Loan Balance Outstanding In Millions $86 $91 Number of Loans 132 118 Average Loan Size In Thousands $648 $769 Approximate Weighted Average LTV 78% 61% Trailing 12 Month Net Charge-Offs 0.00% 0.00% Percent Utilized of Commitments 50% 58% Portfolio Characteristics - Construction & Development 7

38% 23% 22% 17% Crop Dairy Other Farming Other Agricultural As of 09/30/21 Portfolio Fundamentals 69% 28% 3% Wisconsin Minnesota Other By Geography As of 09/30/21 • Producers required to have marketing plans to mitigate volatility of commodities • Appropriate crop/revenue insurance and/or dairy margin protection required • Maximum ag RE LTV of less than 65%; equipment LTV of less than 75% • Appropriate structuring to separate crop production cycles and to match length of loan with asset financed • Use of Farmer Mac, FSA, SBA or USDA programs to address DSC, collateral margins or working capital Agricultural Real Estate & Operating Loans As of 09/30/21 As of 06/30/21 $107 $101 568 568 $188 $177 1.8x 1.8x 31 33 0.18% 0.12% Approximate Weighted Average DSCR Weighted Average Seasoning In Months Trailing 12 Month Net Charge-Offs Portfolio Characteristics - Agricultural Loan Balance Outstanding In Millions Number of Loans Average Loan Size In Thousands 8

74% 17% 9% Flagged Historic Boutique Other Hotels As of 09/30/21 Portfolio Fundamentals 56% 30% 14% Minnesota Wisconsin Illinois By Geography As of 09/30/21 • Mainly experienced multi project hoteliers and guarantors with strong personal financial statements (net worth and liquidity) • Mainly flagged properties • Historic hotels are two hotels in Twin Cities area • Underwriting consistent with management's conservative approach to Investor CRE, emphasizing actual results in underwriting Hotel Loans As of 09/30/21 As of 06/30/21 $109 $93 31 32 $3.5 $2.9 56% 53% 2.3x 2.3x 0.00% 0.00%Trailing 12 Month Net Charge Offs Number of Loans Approximate DSCR - Non-Construction Portfolio Characteristics - Hotels Loan Balance Outstanding In Millions Average Loan Size In Millions Approximate Weighted Average LTV 9

48% 18% 10% 9% 5% 4% 6% Culver's - Limited Service Restaurants Other National Limited Services Micro Breweries Drinking Establishments Bowling Centers Other Restaurants As of 09/30/21 Portfolio Fundamentals 80% 15% 5% Wisconsin Minnesota Other By Geography As of 09/30/21 • Experienced developers/operators of national Limited /Quick Service brands (Culver’s, Subway, Dairy Queen, McDonalds, Jimmy John’s, A&W) • Underwritten to =<80% LTV with full recourse (depending on sponsor history); 20-year amortization with 5 to 10-year terms • Use of SBA Guaranty Program (Preferred Lender or General Processing) as appropriate • Drinking establishments may have other collateral pledged and tend to be in smaller communities in our footprint • Micro Breweries concentrated in Eau Claire area • Lessors of RE include investor and owner-occupied structure Restaurant Loans As of 09/30/21 As of 06/30/21 $41 $39 80 83 $518 $464 56% 59% 3.5x 3.5x 0.00% 0.00% Portfolio Characteristics - Restaurants Approximate Weighted Average DSCR Trailing 12 Month Net Charge-Offs Loan Balance Outstanding In Millions Number of Loans Average Loan Size In Thousands Approximate Weighted Average LTV 10

Credit Quality/Risk Ratings: Management utilizes a numeric risk rating system to identify and quantify the Bank’s risk of loss within its loan portfolio. Ratings are initially assigned prior to funding the loan, and may be changed at any time as circumstances warrant. Ratings range from the highest to lowest quality based on factors that include measurements of ability to pay, collateral type and value, borrower stability and management experience. The Bank’s loan portfolio is presented below in accordance with the risk rating framework that has been commonly adopted by the federal banking agencies. The definitions of the various risk rating categories are as follows: 1 through 4 - Pass. A “Pass” loan means that the condition of the borrower and the performance of the loan is satisfactory or better. 5 - Watch. A “Watch” loan has clearly identifiable developing weaknesses that deserve additional attention from management. Weaknesses that are not corrected or mitigated, may jeopardize the ability of the borrower to repay the loan in the future. 6 - Special Mention. A “Special Mention” loan has one or more potential weakness that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the institution’s credit position in the future. 7 - Substandard. A “Substandard” loan is inadequately protected by the current net worth and paying capacity of the obligor or the collateral pledged, if any. Assets classified as substandard must have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. 8 - Doubtful. A “Doubtful” loan has all the weaknesses inherent in a Substandard loan with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. 9 - Loss. Loans classified as “Loss” are considered uncollectible, and their continuance as bankable assets is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, and a partial recovery may occur in the future. 11

Below is a breakdown of loans by risk rating as of September 30, 2021: 1 to 5 6 7 8 9 TOTAL Originated Loans: Commercial/Agricultural real estate: Commercial real estate $ 507,305 $ 300 $ 935 $ — $ — $ 508,540 Agricultural real estate 48,053 378 651 — — 49,082 Multi-family real estate 149,802 292 — — — 150,094 Construction and land development 76,366 — 8,033 — — 84,399 C&I/Agricultural operating: Commercial and industrial 87,481 16 3,084 — — 90,581 Agricultural operating 23,744 22 1,624 — — 25,390 Residential mortgage: Residential mortgage 65,733 — 3,253 — — 68,986 Purchased HELOC loans 3,756 — 165 — — 3,921 Consumer installment: Originated indirect paper 17,511 — 178 — — 17,689 Other consumer 9,344 — 70 — — 9,414 Originated loans before SBA PPP loans $ 989,095 $ 1,008 $ 17,993 $ — $ — $ 1,008,096 SBA PPP loans 31,301 — — — — 31,301 Total originated loans $ 1,020,396 $ 1,008 $ 17,993 $ — $ — $ 1,039,397 Acquired Loans: Commercial/Agricultural real estate: Commercial real estate $ 126,472 $ 1,342 $ 1,970 $ — $ — $ 129,784 Agricultural real estate 22,517 — 5,035 — — 27,552 Multi-family real estate 5,928 — — — — 5,928 Construction and land development 949 190 — — — 1,139 C&I/Agricultural operating: Commercial and industrial 16,243 8 303 — — 16,554 Agricultural operating 4,251 — 290 — — 4,541 Residential mortgage: Residential mortgage 29,253 — 1,542 — — 30,795 Consumer installment: Other consumer 512 — 4 — — 516 Total acquired loans $ 206,125 $ 1,540 $ 9,144 $ — $ — $ 216,809 Total Loans: Commercial/Agricultural real estate: Commercial real estate $ 633,777 $ 1,642 $ 2,905 $ — $ — $ 638,324 Agricultural real estate 70,570 378 5,686 — — 76,634 Multi-family real estate 155,730 292 — — — 156,022 Construction and land development 77,315 190 8,033 — — 85,538 C&I/Agricultural operating: Commercial and industrial 103,724 24 3,387 — — 107,135 Agricultural operating 27,995 22 1,914 — — 29,931 Residential mortgage: Residential mortgage 94,986 — 4,795 — — 99,781 Purchased HELOC loans 3,756 — 165 — — 3,921 Consumer installment: Originated indirect paper 17,511 — 178 — — 17,689 Other consumer 9,856 — 74 — — 9,930 Gross Loans Before SBA PPP Loans $ 1,195,220 $ 2,548 $ 27,137 $ — $ — $ 1,224,905 SBA PPP loans 31,301 — — — — 31,301 Gross loans $ 1,226,521 $ 2,548 $ 27,137 $ — $ — $ 1,256,206 Less: Unearned net deferred fees and costs and loans in process (3,486) Unamortized discount on acquired loans (4,066) Allowance for loan losses (16,832) Loans receivable, net $ 1,231,822 12

Below is a breakdown of loans by risk rating as of June 30, 2021: 1 to 5 6 7 8 9 TOTAL Originated Loans: Commercial/Agricultural real estate: Commercial real estate $ 419,278 $ 506 $ 781 $ — $ — $ 420,565 Agricultural real estate 41,425 378 1,122 — — 42,925 Multi-family real estate 113,491 299 — — — 113,790 Construction and land development 86,108 — 3,478 — — 89,586 C&I/Agricultural operating: Commercial and industrial 77,758 16 3,009 — — 80,783 Agricultural operating 21,261 22 1,731 — — 23,014 Residential mortgage: Residential mortgage 69,549 — 3,416 — — 72,965 Purchased HELOC loans 4,715 — 234 — — 4,949 Consumer installment: Originated indirect paper 20,196 — 181 — — 20,377 Other consumer 10,250 — 46 — — 10,296 Originated loans before SBA PPP loans $ 864,031 $ 1,221 $ 13,998 $ — $ — $ 879,250 SBA PPP loans 74,925 — — — — 74,925 Total originated loans $ 938,956 $ 1,221 $ 13,998 $ — $ — $ 954,175 Acquired Loans: Commercial/Agricultural real estate: Commercial real estate $ 124,647 $ 10,876 $ 3,974 $ — $ — $ 139,497 Agricultural real estate 24,576 — 5,164 — — 29,740 Multi-family real estate 7,401 — — — — 7,401 Construction and land development 961 202 39 — — 1,202 C&I/Agricultural operating: Commercial and industrial 19,391 9 301 — — 19,701 Agricultural operating 4,482 — 411 — — 4,893 Residential mortgage: Residential mortgage 31,782 — 1,999 — — 33,781 Consumer installment: Other consumer 644 — 4 — — 648 Total acquired loans $ 213,884 $ 11,087 $ 11,892 $ — $ — $ 236,863 Total Loans: Commercial/Agricultural real estate: Commercial real estate $ 543,925 $ 11,382 $ 4,755 $ — $ — $ 560,062 Agricultural real estate 66,001 378 6,286 — — 72,665 Multi-family real estate 120,892 299 — — — 121,191 Construction and land development 87,069 202 3,517 — — 90,788 C&I/Agricultural operating: Commercial and industrial 97,149 25 3,310 — — 100,484 Agricultural operating 25,743 22 2,142 — — 27,907 Residential mortgage: Residential mortgage 101,331 — 5,415 — — 106,746 Purchased HELOC loans 4,715 — 234 — — 4,949 Consumer installment: Originated indirect paper 20,196 — 181 — — 20,377 Other consumer 10,894 — 50 — — 10,944 Gross Loans Before SBA PPP Loans $ 1,077,915 $ 12,308 $ 25,890 $ — $ — $ 1,116,113 SBA PPP loans 74,925 — — — — 74,925 Gross loans $ 1,152,840 $ 12,308 $ 25,890 $ — $ — $ 1,191,038 Less: Unearned net deferred fees and costs and loans in process (5,133) Unamortized discount on acquired loans (4,347) Allowance for loan losses (16,845) Loans receivable, net $ 1,164,713 13

Below is a breakdown of loans by risk rating as of December 31, 2020: 1 to 5 6 7 8 9 TOTAL Originated Loans: Commercial/Agricultural real estate: Commercial real estate $ 349,482 $ 543 $ 1,088 $ — $ — $ 351,113 Agricultural real estate 30,041 446 1,254 — — 31,741 Multi-family real estate 112,423 308 — — — 112,731 Construction and land development 87,763 — 3,478 — — 91,241 C&I/Agricultural operating: Commercial and industrial 91,474 20 3,796 — — 95,290 Agricultural operating 22,462 934 1,061 — — 24,457 Residential mortgage: Residential mortgage 82,097 7 4,179 — — 86,283 Purchased HELOC loans 5,959 — 301 — — 6,260 Consumer installment: Originated indirect paper 25,616 — 235 — — 25,851 Other consumer 11,986 — 70 — — 12,056 Originated loans before SBA PPP loans $ 819,303 $ 2,258 $ 15,462 $ — $ — $ 837,023 SBA PPP loans 123,702 — — — — 123,702 Total originated loans $ 943,005 $ 2,258 $ 15,462 $ — $ — $ 960,725 Acquired Loans: Commercial/Agricultural real estate: Commercial real estate $ 148,303 $ 4,274 $ 3,985 $ — $ — $ 156,562 Agricultural real estate 31,147 — 5,907 — — 37,054 Multi-family real estate 9,273 — 148 — — 9,421 Construction and land development 7,237 — 39 — — 7,276 C&I/Agricultural operating: Commercial and industrial 20,918 9 336 — — 21,263 Agricultural operating 7,838 — 490 — — 8,328 Residential mortgage: Residential mortgage 42,805 131 2,167 — — 45,103 Consumer installment: Other consumer 1,150 — 7 — — 1,157 Total acquired loans $ 268,671 $ 4,414 $ 13,079 $ — $ — $ 286,164 Total Loans: Commercial/Agricultural real estate: Commercial real estate $ 497,785 $ 4,817 $ 5,073 $ — $ — $ 507,675 Agricultural real estate 61,188 446 7,161 — — 68,795 Multi-family real estate 121,696 308 148 — — 122,152 Construction and land development 95,000 — 3,517 — — 98,517 C&I/Agricultural operating: Commercial and industrial 112,392 29 4,132 — — 116,553 Agricultural operating 30,300 934 1,551 — — 32,785 Residential mortgage: Residential mortgage 124,902 138 6,346 — — 131,386 Purchased HELOC loans 5,959 — 301 — — 6,260 Consumer installment: Originated indirect paper 25,616 — 235 — — 25,851 Other consumer 13,136 — 77 — — 13,213 Gross Loans Before SBA PPP Loans $ 1,087,974 $ 6,672 $ 28,541 $ — $ — $ 1,123,187 SBA PPP loans 123,702 — — — — 123,702 Gross loans $ 1,211,676 $ 6,672 $ 28,541 $ — $ — $ 1,246,889 Less: Unearned net deferred fees and costs and loans in process (4,245) Unamortized discount on acquired loans (5,063) Allowance for loan losses (17,043) Loans receivable, net $ 1,220,538 14

Below is a breakdown of loans by risk rating as of September 30, 2020: 1 to 5 6 7 8 9 TOTAL Originated Loans: Commercial/Agricultural real estate: Commercial real estate $ 318,915 $ 1,947 $ 1,166 $ — $ — $ 322,028 Agricultural real estate 30,807 454 1,269 — — 32,530 Multi-family real estate 100,148 — — — — 100,148 Construction and land development 77,514 — 3,478 — — 80,992 C&I/Agricultural operating: Commercial and industrial 75,338 802 3,819 — — 79,959 Agricultural operating 23,040 28 1,256 — — 24,324 Residential mortgage: Residential mortgage 85,922 7 4,171 — — 90,100 Purchased HELOC loans 6,220 — 327 — — 6,547 Consumer installment: Originated indirect paper 28,312 — 223 — — 28,535 Other consumer 13,135 — 86 — — 13,221 Originated loans before SBA PPP loans $ 759,351 $ 3,238 $ 15,795 $ — $ — $ 778,384 SBA PPP loans 139,166 — — — — 139,166 Total originated loans $ 898,517 $ 3,238 $ 15,795 $ — $ — $ 917,550 Acquired Loans: Commercial/Agricultural real estate: Commercial real estate $ 168,360 $ 4,237 $ 6,048 $ — $ — $ 178,645 Agricultural real estate 33,765 — 6,848 — — 40,613 Multi-family real estate 9,372 — 148 — — 9,520 Construction and land development 8,264 — 82 — — 8,346 C&I/Agricultural operating: Commercial and industrial 23,572 59 782 — — 24,413 Agricultural operating 8,688 — 946 — — 9,634 Residential mortgage: Residential mortgage 49,243 243 2,268 — — 51,754 Consumer installment: Other consumer 1,404 — 5 — — 1,409 Total acquired loans $ 302,668 $ 4,539 $ 17,127 $ — $ — $ 324,334 Total Loans: Commercial/Agricultural real estate: Commercial real estate $ 487,275 $ 6,184 $ 7,214 $ — $ — $ 500,673 Agricultural real estate 64,572 454 8,117 — — 73,143 Multi-family real estate 109,520 — 148 — — 109,668 Construction and land development 85,778 — 3,560 — — 89,338 C&I/Agricultural operating: Commercial and industrial 98,910 861 4,601 — — 104,372 Agricultural operating 31,728 28 2,202 — — 33,958 Residential mortgage: Residential mortgage 135,165 250 6,439 — — 141,854 Purchased HELOC loans 6,220 — 327 — — 6,547 Consumer installment: Originated indirect paper 28,312 — 223 — — 28,535 Other consumer 14,539 — 91 — — 14,630 Gross Loans Before SBA PPP Loans $ 1,062,019 $ 7,777 $ 32,922 $ — $ — $ 1,102,718 SBA PPP loans 139,166 — — — — 139,166 Gross loans $ 1,201,185 $ 7,777 $ 32,922 $ — $ — $ 1,241,884 Less: Unearned net deferred fees and costs and loans in process (5,033) Unamortized discount on acquired loans (6,712) Allowance for loan losses (14,836) Loans receivable, net $ 1,215,303 15

Allowance for Loan Losses (in thousand, except ratios) September 30, 2021 and Three Months Ended June 30, 2021 and Three Months Ended December 31, 2020 and Three Months Ended September 30, 2020 and Three Months Ended Allowance for loan losses (“ALL”), at beginning of period $ 16,845 $ 16,860 $ 14,836 $ 13,373 Loans charged off: Commercial/Agricultural real estate — (51) — — C&I/Agricultural operating — (7) (300) (103) Residential mortgage — — — (51) Consumer installment (36) (15) (23) (10) Total loans charged off (36) (73) (323) (164) Recoveries of loans previously charged off: Commercial/Agricultural real estate 4 1 1 73 C&I/Agricultural operating 13 33 11 33 Residential mortgage 1 3 — 1 Consumer installment 5 21 18 20 Total recoveries of loans previously charged off: 23 58 30 127 Net loans charged off (“NCOs”) (13) (15) (293) (37) Additions to ALL via provision for loan losses charged to operations — — 2,500 1,500 ALL, at end of period $ 16,832 $ 16,845 $ 17,043 $ 14,836 Average outstanding loan balance $ 1,192,636 $ 1,186,439 $ 1,240,895 $ 1,258,224 Ratios: NCOs (annualized) to average loans — % 0.01 % 0.09 % 0.01 % 16

Nonaccrual Loans Roll forward (in thousands) Quarter Ended September 30, 2021 June 30, 2021 March 31, 2021 December 31, 2020 September 30, 2020 Balance, beginning of period $ 8,075 $ 8,678 $ 10,747 $ 13,154 $ 14,787 Additions 4,859 863 430 912 716 Acquired nonaccrual loans — — — — — Charge offs (24) (58) (205) (2) (141) Transfers to OREO — — (45) — (172) Return to accrual status — (696) (291) — (165) Payments received (1,202) (712) (1,935) (3,317) (1,744) Other, net (2) — (23) — (127) Balance, end of period $ 11,706 $ 8,075 $ 8,678 $ 10,747 $ 13,154 Other Real Estate Owned Roll forward (in thousands) Quarter Ended September 30, 2021 June 30, 2021 March 31, 2021 December 31, 2020 September 30, 2020 Balance, beginning of period $ 129 $ 57 $ 156 $ 756 $ 692 Loans transferred in — — 45 — 172 Branch properties transferred in 0 79 — — — Sales (124) (5) (142) (529) (86) Write-downs — — — (68) (26) Other, net (3) (2) (2) (3) 4 Balance, end of period $ 2 $ 129 $ 57 $ 156 $ 756 Troubled Debt Restructurings in Accrual Status (in thousands, except number of modifications) September 30, 2021 June 30, 2021 December 31, 2020 September 30, 2020 Number of Modifications Recorded Investment Number of Modifications Recorded Investment Number of Modifications Recorded Investment Number of Modifications Recorded Investment Troubled debt restructurings: Accrual Status Commercial/Agricultural real estate 12 $ 4,711 14 $ 4,841 16 $ 4,695 19 $ 5,480 C&I/Agricultural Operating 4 3,685 6 3,804 4 3,836 5 3,868 Residential mortgage 39 2,925 40 3,040 43 3,162 42 3,178 Consumer installment 6 44 7 51 8 49 7 53 Total loans 61 $ 11,365 67 $ 11,736 71 $ 11,742 73 $ 12,579 17

Acquired loans represent much of the reduction in non-performing loans and classified loans. The table below shows the changes in the Bank’s non-accretable difference on purchased credit impaired loans. The second table below shows the changes in the Bank’s accretable loan discount which was established at each acquisition. The Bank has transferred the non-accretable difference on purchased credit impaired loans to accretable discount as collateral coverage improved sufficiently, due to a combination of principal paydowns and/or improving collateral positions. This transferred non-accretable difference to accretable discount is accreted over the remaining maturity of the loan or until payoff, whichever is shorter. Non-accretable difference: (in thousands) September 30, 2021 June 30, 2021 March 31, 2021 December 31, 2020 September 30, 2020 Non-accretable difference, beginning of period $ 823 $ 966 $ 1,087 $ 1,661 $ 3,355 Additions to non-accretable difference for acquired purchased credit impaired loans — — — — — Non-accretable difference realized as interest from payoffs of purchased credit impaired loans (8) (37) (58) (324) (130) Transfers from non-accretable difference to accretable discount (129) (106) (63) (50) (1,294) Non-accretable difference used to reduce loan principal balance — — — (200) (270) Non-accretable difference transferred to OREO due to loan foreclosure — — — — — Non-accretable difference, end of period $ 686 $ 823 $ 966 $ 1,087 $ 1,661 The table below provides the changes in accretable discount for acquired loans. Accretable discount: (in thousands) September 30, 2021 June 30, 2021 March 31, 2021 December 31, 2020 September 30, 2020 Accretable discount, beginning of period $ 3,524 $ 3,683 $ 3,976 $ 5,050 $ 4,032 Additions to accretable discount for acquired performing loans — — — — — Accelerated accretion from payoff of certain purchased credit impaired loans with transferred non-accretable difference (12) — (90) (872) — Transfers from non-accretable difference to accretable discount 129 106 63 50 1,294 Scheduled accretion (261) (265) (266) (252) (276) Accretable discount, end of period $ 3,380 $ 3,524 $ 3,683 $ 3,976 $ 5,050 18

On November 30, 2020, the Board of Directors adopted a share repurchase program, pursuant to which Citizens Community Bancorp, Inc. was authorized to repurchase 557 thousand shares of its common stock, or approximately 5% of the outstanding shares on that date. Repurchases made during the quarter ended September 30, 2021, used all remaining shares authorized under this share repurchase program. On July 23, 2021, the Board of Directors adopted a new share repurchase program, pursuant to which Citizens Community Bancorp, Inc. is authorized to repurchase 532,962 shares of its common stock, or approximately 5% of the outstanding shares on that date. Under this new share repurchase program, approximately 144 thousand shares, were repurchased during the quarter ended September 30, 2021. As of September 30, 2021, there were 10.5 million shares outstanding and an additional 389 thousand shares could be repurchased under the program. Earnings Per Share (Amounts in thousands, except per share data, share count in thousands) Three Months Ended Nine Months Ended September 30, 2021 June 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Basic Net income attributable to common shareholders $ 4,997 $ 4,706 $ 3,480 $ 15,209 $ 9,155 Weighted average common shares outstanding 10,610 10,778 11,153 10,788 11,173 Basic earnings per share $ 0.47 $ 0.44 $ 0.31 $ 1.41 $ 0.82 Diluted Net income attributable to common shareholders $ 4,997 $ 4,706 $ 3,480 $ 15,209 $ 9,155 Weighted average common shares outstanding 10,610 10,778 11,153 10,788 11,173 Add: Dilutive stock options outstanding 13 12 — 10 — Average shares and dilutive potential common shares 10,623 10,790 11,153 10,798 11,173 Diluted earnings per share $ 0.47 $ 0.44 $ 0.31 $ 1.41 $ 0.82 Common stock issued and outstanding 10,519 10,696 11,155 10,519 11,155 19

CITIZENS COMMUNITY FEDERAL N.A. Selected Capital Composition Highlights September 30, 2021 (unaudited) June 30, 2021 (unaudited) December 31, 2020 (audited) September 30, 2020 (unaudited) To Be Well Capitalized Under Prompt Corrective Action Provisions Tier 1 leverage ratio (to adjusted total assets) 9.6% 9.7% 9.9% 9.9% 5.0% Tier 1 capital (to risk weighted assets) 12.4% 13.5% 13.5% 13.7% 8.0% Common equity tier 1 capital (to risk weighted assets) 12.4% 13.5% 13.5% 13.7% 6.5% Total capital (to risk weighted assets) 13.6% 14.7% 14.7% 15.0% 10.0% CITIZENS COMMUNITY BANCORP, INC. Selected Capital Composition Highlights September 30, 2021 (unaudited) June 30, 2021 (unaudited) December 31, 2020 (audited) September 30, 2020 (unaudited) For Capital Adequacy Purposes Tier 1 leverage ratio (to adjusted total assets) 7.6% 7.5% 7.7% 7.5% 4.0% Tier 1 capital (to risk weighted assets) 9.7% 10.4% 10.5% 10.5% 6.0% Common equity tier 1 capital (to risk weighted assets) 9.7% 10.4% 10.5% 10.5% 4.5% Total capital (to risk weighted assets) 13.2% 14.2% 14.3% 14.3% 8.0% 20