Citizens Financial Services, Inc. Named One of the Nation's Top Community Banks by...

Citizens Financial Services, Inc. Named One of the Nation's Top Community
Banks by US Banker

MANSFIELD, Pa., July 22 /PRNewswire-FirstCall/ -- Citizens Financial
Services, Inc. (OTC Bulletin Board: CZFS) holding company for First Citizens
National Bank, was recently listed as one of the top 200 best performing
community banks in the United States by US Banker magazine. Each year, US
Banker, a magazine that covers the field of banking and finance, reviews the
Return on Equity for a three year period for all publicly traded U.S. Banks
asset size $1 Billion or less. This year, Citizens Financial Services, Inc.
placed 154th in the nation. Our Return on Average Equity (ROAE) for 2007 was
14.38% and the three year average ROAE was 13.54%.
"This ranking is quite an honor," stated Randall E. Black, CEO and
President. "What this means is, in addition to managing our operational
efficiencies we have been able to maintain remarkably high returns on earnings
despite the current economic conditions, stagnant consumer loan demand and
regulatory burdens. This accomplishment is the result of a true team effort."
In addition to being named to the top 200 Community Banker list by US
Banker, First Citizens has consistently received a 4-Star Rating from Bauer
Financial, Inc., a firm that has been analyzing and reporting on the financial
condition of the nation's banking industry since 1983. Find out more about the
Bauer Financial rating by visiting the bank's website at
firstcitizensbank.com.
The organization has experienced strong financial performance thru the
first part of 2008. As of June 30, 2008, Citizens Financial Service, Inc.
reported an annualized ROAE of 17.80% compared to 13.68% as of June 30, 2007.
Assets have grown to over $600 million and the bank remains well capitalized.
"In addition to our strong financial performance, we're also pleased that
First Citizens has not been impacted by the sub-prime loan issue," stated Mr.
Black. "We have simply refused to make the sort of risky loans that are at
the heart of the national credit crisis. We continue to adhere to the
fundamentals of safety and soundness, sound underwriting standards, due
diligence and capital standards."
Citizens Financial Services, Inc. has over 1,500 shareholders. First
Citizens National Bank is headquartered in Mansfield, Pennsylvania, and
currently operates 16 offices in Tioga, Bradford and Potter Counties in PA,
and Alleghany County, NY. For more information on First Citizens National
Bank, visit www.firstcitizensbank.com.
SOURCE Citizens Financial Services, Inc.

Kathleen Campbell, Senior Vice President, Marketing, Citizens Financial
Services, Inc., +1-570-662-0422, or fax +1-570-662-8512