filing on CZFS repurchase plan

0000739421-06-000002.txt : 20060120 0000739421-06-000002.hdr.sgml : 20060120 20060120143346 ACCESSION NUMBER: 0000739421-06-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060120 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060120 DATE AS OF CHANGE: 20060120 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CITIZENS FINANCIAL SERVICES INC CENTRAL INDEX KEY: 0000739421 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 232265045 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13222 FILM NUMBER: 06540514 BUSINESS ADDRESS: STREET 1: 15 S MAIN ST CITY: MANSFIELD STATE: PA ZIP: 16933 BUSINESS PHONE: 5706622121 MAIL ADDRESS: STREET 1: 15 S MAIN ST CITY: MANSFIELD STATE: PA ZIP: 16933 8-K 1 repurchaseplan.htm FILING ON CZFS REPURCHASE PLAN filing on CZFS repurchase plan

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C., 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):		January 17, 2006


CITIZENS FINANCIAL SERVICES, INC.
(Exact name of registrant as specified in its charter)

Pennsylvania	0-13222			23-2265045
(State or other jurisdiction of incorporation)	(Commission File Number)			(I.R.S. Employer Identification No.)

15 South Main Street, Mansfield, PA				16933
(Address of principal executive offices)				(Zip Code)

Registrant’s telephone number, including area code:			(570) 662-2121

N/A
(Former name or former address, if changes since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events.

On January 17, 2006, Citizens Financial Services, Inc. announced the approval of a plan to repurchase up to 140,000 shares of its common stock. A press release announcing the repurchase plan is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

Exhibit Number	Description
99.1	Press Release dated January 20, 2006.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CITIZENS FINANCIAL SERVICES, INC.




Date: January 20, 2006	By:	/s/ Mickey L. Jones
		Title: Chief Financial Officer

EX-99.1 2 buybackpressrelease.htm BUYBACK PRESS RELEASE buyback press release

Exhibit 99.1

FOR IMMEDIATE RELEASE

CITIZENS FINANCIAL SERVICES, INCORPORATED

COMMON STOCK REPURCHASE PROGRAM INITIATED

MANSFIELD, PENNSYLVANIA - JANUARY 20, 2006 - Acting under the authority granted by the Board of Directors, Citizens Financial Services, Incorporated announced on January 17, 2006 the approval of a plan to repurchase up to 140,000 shares of its common stock. The Board of Directors has authorized repurchases from time to time at the prevailing market prices in open market or in privately negotiated transactions as, in management’s sole opinion, market conditions warrant and based on stock availability, price and the Company’s financial performance.

Citizens Financial Services, Incorporated is the parent holding company of First Citizens National Bank headquarted in Mansfield, Pennsylvania.

FORWARD-LOOKING INFORMATION

The following appears in accordance with the Private Securities Litigation Reform Act of 1995:

This press release may contain certain forward-looking statements which are based on management's current expectations regarding economic, legislative, and regulatory issues that may impact the Company's earnings in future periods. Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, real estate values, and competition, changes in accounting principles, policies, or guidelines, changes in legislation or regulation, and other economic, competitive, governmental, regulatory and technological factors affecting the Company's operations, pricing, products and services. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may."

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CONTACT:	Randall E. Black
	Chief Executive Officer and President
	15 South Main Street
	Mansfield, PA 16933
	570-662-1212
	570-662-2365 (fax)