10-Q 1 czwi-20240331.htm 10-Q czwi-20240331
0001367859FALSE2024Q112/31http://fasb.org/us-gaap/2023#OccupancyNethttp://fasb.org/us-gaap/2023#OccupancyNethttp://fasb.org/us-gaap/2023#OtherAssetshttp://fasb.org/us-gaap/2023#OtherAssetshttp://fasb.org/us-gaap/2023#OtherLiabilitieshttp://fasb.org/us-gaap/2023#OtherLiabilitiesxbrli:sharesiso4217:USDiso4217:USDxbrli:sharesczwi:branchczwi:segmentczwi:reporting_unitxbrli:pureczwi:leaseczwi:fund00013678592024-01-012024-03-3100013678592024-05-0800013678592024-03-3100013678592023-12-3100013678592023-01-012023-03-310001367859us-gaap:CommonStockMember2023-12-310001367859us-gaap:AdditionalPaidInCapitalMember2023-12-310001367859us-gaap:RetainedEarningsMember2023-12-310001367859us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310001367859us-gaap:RetainedEarningsMember2024-01-012024-03-310001367859us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-03-310001367859us-gaap:CommonStockMember2024-01-012024-03-310001367859us-gaap:AdditionalPaidInCapitalMember2024-01-012024-03-310001367859us-gaap:CommonStockMember2024-03-310001367859us-gaap:AdditionalPaidInCapitalMember2024-03-310001367859us-gaap:RetainedEarningsMember2024-03-310001367859us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-310001367859us-gaap:CommonStockMember2022-12-310001367859us-gaap:AdditionalPaidInCapitalMember2022-12-310001367859us-gaap:RetainedEarningsMember2022-12-310001367859us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-3100013678592022-12-310001367859us-gaap:RetainedEarningsMember2023-01-012023-03-310001367859us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310001367859us-gaap:CommonStockMember2023-01-012023-03-310001367859us-gaap:AdditionalPaidInCapitalMember2023-01-012023-03-310001367859us-gaap:AccountingStandardsUpdate201613Memberus-gaap:RetainedEarningsMember2022-12-310001367859us-gaap:AccountingStandardsUpdate201613Member2022-12-310001367859us-gaap:AccountingStandardsUpdate201602Memberus-gaap:RetainedEarningsMember2022-12-310001367859us-gaap:AccountingStandardsUpdate201602Member2022-12-310001367859us-gaap:CommonStockMember2023-03-310001367859us-gaap:AdditionalPaidInCapitalMember2023-03-310001367859us-gaap:RetainedEarningsMember2023-03-310001367859us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-3100013678592023-03-310001367859us-gaap:RetainedEarningsMember2023-04-012023-06-3000013678592023-04-012023-06-300001367859us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-300001367859us-gaap:CommonStockMember2023-04-012023-06-300001367859us-gaap:AdditionalPaidInCapitalMember2023-04-012023-06-300001367859us-gaap:CommonStockMember2023-06-300001367859us-gaap:AdditionalPaidInCapitalMember2023-06-300001367859us-gaap:RetainedEarningsMember2023-06-300001367859us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-3000013678592023-06-300001367859us-gaap:RetainedEarningsMember2023-07-012023-09-3000013678592023-07-012023-09-300001367859us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-07-012023-09-300001367859us-gaap:CommonStockMember2023-07-012023-09-300001367859us-gaap:AdditionalPaidInCapitalMember2023-07-012023-09-300001367859us-gaap:CommonStockMember2023-09-300001367859us-gaap:AdditionalPaidInCapitalMember2023-09-300001367859us-gaap:RetainedEarningsMember2023-09-300001367859us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-09-3000013678592023-09-300001367859us-gaap:RetainedEarningsMember2023-10-012023-12-3100013678592023-10-012023-12-310001367859us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-10-012023-12-310001367859us-gaap:CommonStockMember2023-10-012023-12-310001367859us-gaap:AdditionalPaidInCapitalMember2023-10-012023-12-310001367859us-gaap:InvestmentInFederalHomeLoanBankStockMember2024-03-310001367859czwi:FederalReserveBankMember2024-03-310001367859czwi:BankersBankStockMember2024-03-310001367859us-gaap:InvestmentInFederalHomeLoanBankStockMember2023-12-310001367859czwi:FederalReserveBankMember2023-12-310001367859czwi:BankersBankStockMember2023-12-310001367859us-gaap:CommercialLoanMember2024-01-012024-03-310001367859czwi:ClosedEndConsumerLoanMember2024-01-012024-03-310001367859czwi:RealEstateAndOpenEndedConsumerLoansMember2024-01-012024-03-310001367859srt:MinimumMemberczwi:BuildingsAndComponentsMember2024-03-310001367859srt:MaximumMemberczwi:BuildingsAndComponentsMember2024-03-310001367859srt:MinimumMemberczwi:FurnitureFixturesAndEquipmentMember2024-03-310001367859srt:MaximumMemberczwi:FurnitureFixturesAndEquipmentMember2024-03-310001367859srt:MinimumMember2024-03-310001367859srt:MaximumMember2024-03-310001367859us-gaap:OtherAssetsMember2024-01-012024-03-310001367859czwi:FederalHomeLoanBankShortTermDebtMember2024-03-310001367859czwi:FederalHomeLoanBankShortTermDebtMember2023-12-310001367859czwi:FederalHomeLoanBankLongTermDebtMember2024-03-310001367859czwi:FederalHomeLoanBankLongTermDebtMember2023-12-310001367859us-gaap:USGovernmentAgenciesDebtSecuritiesMember2024-03-310001367859us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2024-03-310001367859us-gaap:CorporateDebtSecuritiesMember2024-03-310001367859us-gaap:AssetBackedSecuritiesMember2024-03-310001367859us-gaap:USGovernmentAgenciesDebtSecuritiesMember2023-12-310001367859us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2023-12-310001367859us-gaap:CorporateDebtSecuritiesMember2023-12-310001367859us-gaap:AssetBackedSecuritiesMember2023-12-310001367859us-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310001367859us-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310001367859us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:CollateralPledgedMemberczwi:FederalReserveBankMember2024-03-310001367859czwi:FederalReserveBankMember2024-03-310001367859czwi:SpecificMunicipalDepositsMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:CollateralPledgedMember2024-03-310001367859czwi:SpecificMunicipalDepositsMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:CollateralPledgedMember2024-03-310001367859czwi:MPFCreditEnhancementFeeMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2024-03-310001367859srt:FederalHomeLoanBankOfDesMoinesMemberczwi:MPFCreditEnhancementFeeMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2024-03-310001367859us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:CollateralPledgedMemberczwi:FederalReserveBankMember2023-12-310001367859czwi:FederalReserveBankMember2023-12-310001367859czwi:SpecificMunicipalDepositsMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:CollateralPledgedMember2023-12-310001367859czwi:SpecificMunicipalDepositsMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:CollateralPledgedMember2023-12-310001367859czwi:MPFCreditEnhancementFeeMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2023-12-310001367859srt:FederalHomeLoanBankOfDesMoinesMemberczwi:MPFCreditEnhancementFeeMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2023-12-310001367859us-gaap:MortgageBackedSecuritiesMember2024-03-310001367859us-gaap:MortgageBackedSecuritiesMember2023-12-310001367859czwi:U.S.GovernmentAgencyMember2024-03-310001367859czwi:U.S.GovernmentAgencyMember2023-12-310001367859srt:StandardPoorsAAARatingMember2024-03-310001367859srt:StandardPoorsAAARatingMember2023-12-310001367859srt:StandardPoorsAARatingMember2024-03-310001367859srt:StandardPoorsAARatingMember2023-12-310001367859srt:StandardPoorsARatingMember2024-03-310001367859srt:StandardPoorsARatingMember2023-12-310001367859srt:StandardPoorsBBBRatingMember2024-03-310001367859srt:StandardPoorsBBBRatingMember2023-12-310001367859czwi:StandardPoorsNonRatedMember2024-03-310001367859czwi:StandardPoorsNonRatedMember2023-12-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2024-03-310001367859us-gaap:CommercialRealEstateMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2024-03-310001367859us-gaap:CommercialRealEstateMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2023-12-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2023-12-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMember2024-03-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMember2023-12-310001367859czwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2024-03-310001367859czwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2023-12-310001367859czwi:CommercialNonrealEstateMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859czwi:CommercialNonrealEstateMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859czwi:AgriculturalNonrealEstateMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859czwi:AgriculturalNonrealEstateMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859czwi:OnetoFourFamilyMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-03-310001367859czwi:OnetoFourFamilyMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-12-310001367859us-gaap:HomeEquityMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-03-310001367859us-gaap:HomeEquityMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberczwi:OriginatedIndirectPaperMember2024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberczwi:OriginatedIndirectPaperMember2023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:ConsumerLoanMember2024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:ConsumerLoanMember2023-12-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:PassMember2024-03-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:SpecialMentionMember2024-03-310001367859us-gaap:SubstandardMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2024-03-310001367859us-gaap:CommercialRealEstateMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2024-01-012024-03-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMemberus-gaap:PassMember2024-03-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMemberus-gaap:SpecialMentionMember2024-03-310001367859us-gaap:SubstandardMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2024-03-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2024-01-012024-03-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMemberus-gaap:PassMember2024-03-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMemberus-gaap:SpecialMentionMember2024-03-310001367859us-gaap:SubstandardMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMember2024-03-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMember2024-01-012024-03-310001367859czwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:PassMember2024-03-310001367859czwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2024-03-310001367859us-gaap:SubstandardMemberczwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2024-03-310001367859czwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2024-01-012024-03-310001367859czwi:CommercialandIndustrialMemberus-gaap:PassMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859czwi:CommercialandIndustrialMemberus-gaap:SpecialMentionMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859us-gaap:SubstandardMemberczwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859czwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859czwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-01-012024-03-310001367859czwi:AgriculturalOperatingMemberus-gaap:PassMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859czwi:AgriculturalOperatingMemberus-gaap:SpecialMentionMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859us-gaap:SubstandardMemberczwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859czwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859czwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-01-012024-03-310001367859czwi:ResidentialMortgagesMemberus-gaap:PassMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-03-310001367859czwi:ResidentialMortgagesMemberus-gaap:SubstandardMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-03-310001367859czwi:ResidentialMortgagesMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-03-310001367859czwi:ResidentialMortgagesMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-01-012024-03-310001367859us-gaap:HomeEquityMemberus-gaap:PassMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-03-310001367859us-gaap:HomeEquityMemberus-gaap:SubstandardMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-03-310001367859us-gaap:HomeEquityMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-01-012024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberczwi:OriginatedIndirectPaperMemberus-gaap:PassMember2024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:SubstandardMemberczwi:OriginatedIndirectPaperMember2024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberczwi:OriginatedIndirectPaperMember2024-01-012024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:ConsumerLoanMemberus-gaap:PassMember2024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:SubstandardMemberus-gaap:ConsumerLoanMember2024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:ConsumerLoanMember2024-01-012024-03-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:PassMember2023-12-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:SpecialMentionMember2023-12-310001367859us-gaap:SubstandardMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2023-12-310001367859us-gaap:CommercialRealEstateMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2023-01-012023-12-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMemberus-gaap:PassMember2023-12-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMemberus-gaap:SpecialMentionMember2023-12-310001367859us-gaap:SubstandardMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2023-12-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2023-01-012023-12-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMemberus-gaap:PassMember2023-12-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMemberus-gaap:SpecialMentionMember2023-12-310001367859us-gaap:SubstandardMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMember2023-12-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMember2023-01-012023-12-310001367859czwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:PassMember2023-12-310001367859czwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2023-12-310001367859us-gaap:SubstandardMemberczwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2023-12-310001367859czwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2023-01-012023-12-310001367859czwi:CommercialandIndustrialMemberus-gaap:PassMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859czwi:CommercialandIndustrialMemberus-gaap:SpecialMentionMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859us-gaap:SubstandardMemberczwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859czwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859czwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-01-012023-12-310001367859czwi:AgriculturalOperatingMemberus-gaap:PassMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859czwi:AgriculturalOperatingMemberus-gaap:SpecialMentionMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859us-gaap:SubstandardMemberczwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859czwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859czwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-01-012023-12-310001367859czwi:ResidentialMortgagesMemberus-gaap:PassMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-12-310001367859czwi:ResidentialMortgagesMemberus-gaap:SubstandardMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-12-310001367859czwi:ResidentialMortgagesMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-12-310001367859czwi:ResidentialMortgagesMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-01-012023-12-310001367859us-gaap:HomeEquityMemberus-gaap:PassMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-12-310001367859us-gaap:HomeEquityMemberus-gaap:SubstandardMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-12-310001367859us-gaap:HomeEquityMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-01-012023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberczwi:OriginatedIndirectPaperMemberus-gaap:PassMember2023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:SubstandardMemberczwi:OriginatedIndirectPaperMember2023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberczwi:OriginatedIndirectPaperMember2023-01-012023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:ConsumerLoanMemberus-gaap:PassMember2023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:SubstandardMemberus-gaap:ConsumerLoanMember2023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:ConsumerLoanMember2023-01-012023-12-3100013678592023-01-012023-12-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2023-12-310001367859czwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859czwi:ResidentialMortgagePortfolioSegmentMember2023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMember2023-12-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2024-01-012024-03-310001367859czwi:CIAgriculturalOperatingPortfolioSegmentMember2024-01-012024-03-310001367859czwi:ResidentialMortgagePortfolioSegmentMember2024-01-012024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMember2024-01-012024-03-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2024-03-310001367859czwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859czwi:ResidentialMortgagePortfolioSegmentMember2024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMember2024-03-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2022-12-310001367859czwi:CIAgriculturalOperatingPortfolioSegmentMember2022-12-310001367859czwi:ResidentialMortgagePortfolioSegmentMember2022-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMember2022-12-310001367859us-gaap:UnallocatedFinancingReceivablesMember2022-12-310001367859us-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2022-12-310001367859us-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2022-12-310001367859us-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberczwi:ResidentialMortgagePortfolioSegmentMember2022-12-310001367859us-gaap:AccountingStandardsUpdate201613Memberczwi:ConsumerInstallmentPortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2022-12-310001367859us-gaap:AccountingStandardsUpdate201613Memberus-gaap:UnallocatedFinancingReceivablesMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2022-12-310001367859us-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2022-12-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2023-01-012023-03-310001367859czwi:CIAgriculturalOperatingPortfolioSegmentMember2023-01-012023-03-310001367859czwi:ResidentialMortgagePortfolioSegmentMember2023-01-012023-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMember2023-01-012023-03-310001367859us-gaap:UnallocatedFinancingReceivablesMember2023-01-012023-03-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2023-03-310001367859czwi:CIAgriculturalOperatingPortfolioSegmentMember2023-03-310001367859czwi:ResidentialMortgagePortfolioSegmentMember2023-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMember2023-03-310001367859us-gaap:UnallocatedFinancingReceivablesMember2023-03-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2023-01-012023-12-310001367859czwi:CIAgriculturalOperatingPortfolioSegmentMember2023-01-012023-12-310001367859czwi:ResidentialMortgagePortfolioSegmentMember2023-01-012023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMember2023-01-012023-12-310001367859us-gaap:UnallocatedFinancingReceivablesMember2023-01-012023-12-310001367859us-gaap:UnallocatedFinancingReceivablesMember2023-12-310001367859us-gaap:UnfundedLoanCommitmentMember2024-03-310001367859us-gaap:UnfundedLoanCommitmentMember2023-12-310001367859us-gaap:UnfundedLoanCommitmentMember2022-12-310001367859us-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:UnfundedLoanCommitmentMember2023-12-310001367859us-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:UnfundedLoanCommitmentMember2022-12-310001367859us-gaap:UnfundedLoanCommitmentMember2024-01-012024-03-310001367859us-gaap:UnfundedLoanCommitmentMember2023-01-012023-12-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2024-03-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-03-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2024-03-310001367859us-gaap:FinancialAssetPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2024-03-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2024-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2024-03-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-03-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2024-03-310001367859us-gaap:FinancialAssetPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2024-03-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2024-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMember2024-03-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-03-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMember2024-03-310001367859us-gaap:FinancialAssetPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMember2024-03-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMember2024-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2024-03-310001367859czwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-03-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberczwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2024-03-310001367859us-gaap:FinancialAssetPastDueMemberczwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2024-03-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2024-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859czwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-03-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberczwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859us-gaap:FinancialAssetPastDueMemberczwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859czwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-03-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberczwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859us-gaap:FinancialAssetPastDueMemberczwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:ResidentialMortgagesMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-03-310001367859czwi:ResidentialMortgagesMemberczwi:ResidentialMortgagePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-03-310001367859czwi:ResidentialMortgagesMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-03-310001367859us-gaap:FinancialAssetPastDueMemberczwi:ResidentialMortgagesMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-03-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:ResidentialMortgagesMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:HomeEquityMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-03-310001367859us-gaap:HomeEquityMemberczwi:ResidentialMortgagePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-03-310001367859us-gaap:HomeEquityMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-03-310001367859us-gaap:HomeEquityMemberus-gaap:FinancialAssetPastDueMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-03-310001367859us-gaap:FinancialAssetNotPastDueMemberus-gaap:HomeEquityMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:ConsumerInstallmentPortfolioSegmentMemberczwi:OriginatedIndirectPaperMember2024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberczwi:OriginatedIndirectPaperMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberczwi:OriginatedIndirectPaperMember2024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberczwi:OriginatedIndirectPaperMember2024-03-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:ConsumerInstallmentPortfolioSegmentMemberczwi:OriginatedIndirectPaperMember2024-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:ConsumerLoanMember2024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:ConsumerLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerLoanMember2024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberus-gaap:ConsumerLoanMember2024-03-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:ConsumerLoanMember2024-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMember2024-03-310001367859us-gaap:FinancingReceivables60To89DaysPastDueMember2024-03-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310001367859us-gaap:FinancialAssetPastDueMember2024-03-310001367859us-gaap:FinancialAssetNotPastDueMember2024-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2023-12-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2023-12-310001367859us-gaap:FinancialAssetPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2023-12-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2023-12-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2023-12-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2023-12-310001367859us-gaap:FinancialAssetPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2023-12-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2023-12-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMember2023-12-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMember2023-12-310001367859us-gaap:FinancialAssetPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMember2023-12-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:MultifamilyRealEstateMember2023-12-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2023-12-310001367859czwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberczwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2023-12-310001367859us-gaap:FinancialAssetPastDueMemberczwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2023-12-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2023-12-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859czwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberczwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859us-gaap:FinancialAssetPastDueMemberczwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859czwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberczwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859us-gaap:FinancialAssetPastDueMemberczwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:ResidentialMortgagesMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-12-310001367859czwi:ResidentialMortgagesMemberczwi:ResidentialMortgagePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001367859czwi:ResidentialMortgagesMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-12-310001367859us-gaap:FinancialAssetPastDueMemberczwi:ResidentialMortgagesMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-12-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:ResidentialMortgagesMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-12-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:HomeEquityMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-12-310001367859us-gaap:HomeEquityMemberczwi:ResidentialMortgagePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001367859us-gaap:HomeEquityMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-12-310001367859us-gaap:HomeEquityMemberus-gaap:FinancialAssetPastDueMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-12-310001367859us-gaap:FinancialAssetNotPastDueMemberus-gaap:HomeEquityMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-12-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:ConsumerInstallmentPortfolioSegmentMemberczwi:OriginatedIndirectPaperMember2023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberczwi:OriginatedIndirectPaperMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberczwi:OriginatedIndirectPaperMember2023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberczwi:OriginatedIndirectPaperMember2023-12-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:ConsumerInstallmentPortfolioSegmentMemberczwi:OriginatedIndirectPaperMember2023-12-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:ConsumerLoanMember2023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:ConsumerLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerLoanMember2023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberus-gaap:ConsumerLoanMember2023-12-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:ConsumerLoanMember2023-12-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310001367859us-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310001367859us-gaap:FinancialAssetPastDueMember2023-12-310001367859us-gaap:FinancialAssetNotPastDueMember2023-12-310001367859us-gaap:CommercialRealEstateMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2023-03-310001367859us-gaap:CommercialRealEstateMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2023-01-012023-03-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2023-03-310001367859czwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2023-01-012023-03-310001367859czwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-03-310001367859czwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-01-012023-03-310001367859czwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-03-310001367859czwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-01-012023-03-310001367859czwi:ResidentialMortgagesMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-03-310001367859czwi:ResidentialMortgagesMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-01-012023-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberczwi:OriginatedIndirectPaperMember2023-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberczwi:OriginatedIndirectPaperMember2023-01-012023-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:ConsumerLoanMember2023-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:ConsumerLoanMember2023-01-012023-03-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:RealEstateMember2024-03-310001367859us-gaap:OtherAssetsMemberus-gaap:CollateralizedLoanObligationsMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2024-03-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2024-03-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:RealEstateMemberczwi:AgriculturalRealEstateMember2024-03-310001367859us-gaap:OtherAssetsMemberus-gaap:CollateralizedLoanObligationsMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2024-03-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2024-03-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:RealEstateMember2024-03-310001367859us-gaap:OtherAssetsMemberus-gaap:CollateralizedLoanObligationsMemberczwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2024-03-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2024-03-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:CommercialandIndustrialMemberus-gaap:RealEstateMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859us-gaap:OtherAssetsMemberus-gaap:CollateralizedLoanObligationsMemberczwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:AgriculturalOperatingMemberus-gaap:RealEstateMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859us-gaap:OtherAssetsMemberus-gaap:CollateralizedLoanObligationsMemberczwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2024-03-310001367859czwi:ResidentialMortgagesMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:RealEstateMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-03-310001367859czwi:ResidentialMortgagesMemberus-gaap:OtherAssetsMemberus-gaap:CollateralizedLoanObligationsMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-03-310001367859czwi:ResidentialMortgagesMemberus-gaap:CollateralizedLoanObligationsMemberczwi:ResidentialMortgagePortfolioSegmentMember2024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberczwi:OriginatedIndirectPaperMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:RealEstateMember2024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:OtherAssetsMemberczwi:OriginatedIndirectPaperMemberus-gaap:CollateralizedLoanObligationsMember2024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberczwi:OriginatedIndirectPaperMemberus-gaap:CollateralizedLoanObligationsMember2024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:ConsumerLoanMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:RealEstateMember2024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:OtherAssetsMemberus-gaap:ConsumerLoanMemberus-gaap:CollateralizedLoanObligationsMember2024-03-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:ConsumerLoanMemberus-gaap:CollateralizedLoanObligationsMember2024-03-310001367859us-gaap:CollateralizedLoanObligationsMemberus-gaap:RealEstateMember2024-03-310001367859us-gaap:OtherAssetsMemberus-gaap:CollateralizedLoanObligationsMember2024-03-310001367859us-gaap:CollateralizedLoanObligationsMember2024-03-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:RealEstateMember2023-12-310001367859us-gaap:OtherAssetsMemberus-gaap:CollateralizedLoanObligationsMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2023-12-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2023-12-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:RealEstateMemberczwi:AgriculturalRealEstateMember2023-12-310001367859us-gaap:OtherAssetsMemberus-gaap:CollateralizedLoanObligationsMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2023-12-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberczwi:AgriculturalRealEstateMember2023-12-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMemberus-gaap:RealEstateMember2023-12-310001367859us-gaap:OtherAssetsMemberus-gaap:CollateralizedLoanObligationsMemberczwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2023-12-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:ConstructionandLandDevelopmentMemberczwi:CommercialAgriculturalRealEstatePortfolioSegmentMember2023-12-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:CommercialandIndustrialMemberus-gaap:RealEstateMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859us-gaap:OtherAssetsMemberus-gaap:CollateralizedLoanObligationsMemberczwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:CommercialandIndustrialMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:AgriculturalOperatingMemberus-gaap:RealEstateMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859us-gaap:OtherAssetsMemberus-gaap:CollateralizedLoanObligationsMemberczwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859us-gaap:CollateralizedLoanObligationsMemberczwi:AgriculturalOperatingMemberczwi:CIAgriculturalOperatingPortfolioSegmentMember2023-12-310001367859czwi:ResidentialMortgagesMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:RealEstateMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-12-310001367859czwi:ResidentialMortgagesMemberus-gaap:OtherAssetsMemberus-gaap:CollateralizedLoanObligationsMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-12-310001367859czwi:ResidentialMortgagesMemberus-gaap:CollateralizedLoanObligationsMemberczwi:ResidentialMortgagePortfolioSegmentMember2023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberczwi:OriginatedIndirectPaperMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:RealEstateMember2023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:OtherAssetsMemberczwi:OriginatedIndirectPaperMemberus-gaap:CollateralizedLoanObligationsMember2023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberczwi:OriginatedIndirectPaperMemberus-gaap:CollateralizedLoanObligationsMember2023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:ConsumerLoanMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:RealEstateMember2023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:OtherAssetsMemberus-gaap:ConsumerLoanMemberus-gaap:CollateralizedLoanObligationsMember2023-12-310001367859czwi:ConsumerInstallmentPortfolioSegmentMemberus-gaap:ConsumerLoanMemberus-gaap:CollateralizedLoanObligationsMember2023-12-310001367859us-gaap:CollateralizedLoanObligationsMemberus-gaap:RealEstateMember2023-12-310001367859us-gaap:OtherAssetsMemberus-gaap:CollateralizedLoanObligationsMember2023-12-310001367859us-gaap:CollateralizedLoanObligationsMember2023-12-310001367859czwi:FinancingReceivableTermExtensionMemberczwi:CommercialandIndustrialMember2024-01-012024-03-310001367859czwi:ResidentialMortgagesMemberczwi:FinancingReceivableOtherThanInsignificantPaymentDelayMember2024-01-012024-03-310001367859us-gaap:ExtendedMaturityMemberczwi:FinancingReceivableTermExtensionMemberus-gaap:CommercialRealEstateMember2024-01-012024-03-310001367859czwi:ResidentialMortgagesMemberus-gaap:ExtendedMaturityMemberczwi:FinancingReceivableOtherThanInsignificantPaymentDelayMember2024-01-012024-03-310001367859czwi:FinancingReceivableTermExtensionMemberus-gaap:CommercialRealEstateMember2023-04-012024-03-310001367859czwi:FinancingReceivableTermExtensionMemberczwi:CommercialandIndustrialMember2023-04-012024-03-310001367859czwi:ResidentialMortgagesMemberczwi:FinancingReceivableOtherThanInsignificantPaymentDelayMember2023-04-012024-03-310001367859us-gaap:ExtendedMaturityMemberczwi:FinancingReceivableTermExtensionMemberus-gaap:CommercialRealEstateMember2023-04-012024-03-310001367859us-gaap:ExtendedMaturityMemberczwi:FinancingReceivableTermExtensionMemberczwi:CommercialandIndustrialMember2023-04-012024-03-310001367859czwi:ResidentialMortgagesMemberus-gaap:ExtendedMaturityMemberczwi:FinancingReceivableOtherThanInsignificantPaymentDelayMember2023-04-012024-03-310001367859czwi:FinancingReceivableTermExtensionMemberus-gaap:CommercialRealEstateMember2023-01-012023-03-310001367859czwi:FinancingReceivableTermExtensionMemberczwi:CommercialandIndustrialMember2023-01-012023-03-310001367859czwi:ResidentialMortgagesMemberczwi:FinancingReceivableTermExtensionMember2023-01-012023-03-310001367859us-gaap:ConsumerLoanMemberczwi:FinancingReceivableOtherThanInsignificantPaymentDelayMember2023-01-012023-03-310001367859us-gaap:ExtendedMaturityMemberczwi:FinancingReceivableTermExtensionMemberus-gaap:CommercialRealEstateMember2023-01-012023-03-310001367859us-gaap:ExtendedMaturityMemberczwi:FinancingReceivableTermExtensionMemberczwi:CommercialandIndustrialMember2023-01-012023-03-310001367859czwi:ResidentialMortgagesMemberus-gaap:ExtendedMaturityMemberczwi:FinancingReceivableTermExtensionMember2023-01-012023-03-310001367859us-gaap:ExtendedMaturityMemberus-gaap:ConsumerLoanMemberczwi:FinancingReceivableOtherThanInsignificantPaymentDelayMember2023-01-012023-03-310001367859us-gaap:FinancialAssetNotPastDueMemberus-gaap:EntityLoanModificationProgramMemberus-gaap:CommercialRealEstateMember2024-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:EntityLoanModificationProgramMemberus-gaap:CommercialRealEstateMember2024-03-310001367859us-gaap:EntityLoanModificationProgramMemberus-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-03-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:EntityLoanModificationProgramMemberus-gaap:CommercialRealEstateMember2024-03-310001367859us-gaap:FinancialAssetNotPastDueMemberus-gaap:EntityLoanModificationProgramMemberczwi:CommercialandIndustrialMember2024-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:EntityLoanModificationProgramMemberczwi:CommercialandIndustrialMember2024-03-310001367859us-gaap:EntityLoanModificationProgramMemberczwi:CommercialandIndustrialMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-03-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:EntityLoanModificationProgramMemberczwi:CommercialandIndustrialMember2024-03-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:ResidentialMortgagesMemberus-gaap:EntityLoanModificationProgramMember2024-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:ResidentialMortgagesMemberus-gaap:EntityLoanModificationProgramMember2024-03-310001367859czwi:ResidentialMortgagesMemberus-gaap:EntityLoanModificationProgramMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-03-310001367859czwi:ResidentialMortgagesMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:EntityLoanModificationProgramMember2024-03-310001367859us-gaap:FinancialAssetNotPastDueMemberus-gaap:EntityLoanModificationProgramMember2024-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:EntityLoanModificationProgramMember2024-03-310001367859us-gaap:EntityLoanModificationProgramMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-03-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:EntityLoanModificationProgramMember2024-03-310001367859us-gaap:FinancialAssetNotPastDueMemberus-gaap:EntityLoanModificationProgramMemberus-gaap:CommercialRealEstateMember2023-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:EntityLoanModificationProgramMemberus-gaap:CommercialRealEstateMember2023-03-310001367859us-gaap:EntityLoanModificationProgramMemberus-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-03-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:EntityLoanModificationProgramMemberus-gaap:CommercialRealEstateMember2023-03-310001367859us-gaap:FinancialAssetNotPastDueMemberus-gaap:EntityLoanModificationProgramMemberczwi:CommercialandIndustrialMember2023-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:EntityLoanModificationProgramMemberczwi:CommercialandIndustrialMember2023-03-310001367859us-gaap:EntityLoanModificationProgramMemberczwi:CommercialandIndustrialMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-03-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:EntityLoanModificationProgramMemberczwi:CommercialandIndustrialMember2023-03-310001367859us-gaap:FinancialAssetNotPastDueMemberczwi:ResidentialMortgagesMemberus-gaap:EntityLoanModificationProgramMember2023-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberczwi:ResidentialMortgagesMemberus-gaap:EntityLoanModificationProgramMember2023-03-310001367859czwi:ResidentialMortgagesMemberus-gaap:EntityLoanModificationProgramMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-03-310001367859czwi:ResidentialMortgagesMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:EntityLoanModificationProgramMember2023-03-310001367859us-gaap:FinancialAssetNotPastDueMemberus-gaap:EntityLoanModificationProgramMemberus-gaap:ConsumerLoanMember2023-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:EntityLoanModificationProgramMemberus-gaap:ConsumerLoanMember2023-03-310001367859us-gaap:EntityLoanModificationProgramMemberus-gaap:ConsumerLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-03-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:EntityLoanModificationProgramMemberus-gaap:ConsumerLoanMember2023-03-310001367859us-gaap:FinancialAssetNotPastDueMemberus-gaap:EntityLoanModificationProgramMember2023-03-310001367859us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:EntityLoanModificationProgramMember2023-03-310001367859us-gaap:EntityLoanModificationProgramMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-03-310001367859us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:EntityLoanModificationProgramMember2023-03-310001367859us-gaap:ServicingContractsMember2024-03-310001367859us-gaap:ServicingContractsMember2023-12-310001367859us-gaap:CoreDepositsMember2024-03-310001367859us-gaap:CoreDepositsMember2023-12-310001367859us-gaap:ServicingContractsMember2022-12-310001367859us-gaap:ServicingContractsMember2024-01-012024-03-310001367859us-gaap:ServicingContractsMember2023-01-012023-03-310001367859us-gaap:ServicingContractsMember2023-03-310001367859us-gaap:MeasurementInputDiscountRateMembersrt:MinimumMember2024-03-310001367859srt:MaximumMemberus-gaap:MeasurementInputDiscountRateMember2024-03-310001367859us-gaap:MeasurementInputDiscountRateMembersrt:MinimumMember2023-03-310001367859srt:MaximumMemberus-gaap:MeasurementInputDiscountRateMember2023-03-310001367859czwi:CorporateOfficesMember2024-03-310001367859czwi:BankBranchOfficesMember2024-03-310001367859czwi:FormerBankBranchOfficeMember2024-03-310001367859czwi:ATMLocationMember2024-03-310001367859us-gaap:CertificatesOfDepositMember2024-03-310001367859us-gaap:MoneyMarketFundsMember2024-03-310001367859us-gaap:CertificatesOfDepositMember2023-12-310001367859us-gaap:MoneyMarketFundsMember2023-12-310001367859us-gaap:FederalReserveBankAdvancesMember2024-03-310001367859us-gaap:FederalReserveBankAdvancesMembersrt:MinimumMember2024-03-310001367859srt:MaximumMemberus-gaap:FederalReserveBankAdvancesMember2024-03-310001367859us-gaap:FederalReserveBankAdvancesMember2023-12-310001367859us-gaap:FederalReserveBankAdvancesMembersrt:MinimumMember2023-12-310001367859srt:MaximumMemberus-gaap:FederalReserveBankAdvancesMember2023-12-310001367859czwi:SeniorNotesVariableRateDueIn2034Memberus-gaap:SeniorNotesMember2024-03-310001367859czwi:SeniorNotesVariableRateDueIn2034Membersrt:MinimumMemberus-gaap:SeniorNotesMember2024-03-310001367859srt:MaximumMemberczwi:SeniorNotesVariableRateDueIn2034Memberus-gaap:SeniorNotesMember2024-03-310001367859czwi:SeniorNotesVariableRateDueIn2034Memberus-gaap:SeniorNotesMember2023-12-310001367859czwi:SeniorNotesVariableRateDueIn2034Membersrt:MinimumMemberus-gaap:SeniorNotesMember2023-12-310001367859srt:MaximumMemberczwi:SeniorNotesVariableRateDueIn2034Memberus-gaap:SeniorNotesMember2023-12-310001367859czwi:SubordinatedNotes6.75DueAugust2030VariableRateCommencingAugust2022Memberus-gaap:SubordinatedDebtMember2024-03-310001367859czwi:SubordinatedNotes6.75DueAugust2030VariableRateCommencingAugust2022Membersrt:MinimumMemberus-gaap:SubordinatedDebtMember2024-03-310001367859srt:MaximumMemberczwi:SubordinatedNotes6.75DueAugust2030VariableRateCommencingAugust2022Memberus-gaap:SubordinatedDebtMember2024-03-310001367859czwi:SubordinatedNotes6.75DueAugust2030VariableRateCommencingAugust2022Memberus-gaap:SubordinatedDebtMember2023-12-310001367859czwi:SubordinatedNotes6.75DueAugust2030VariableRateCommencingAugust2022Membersrt:MinimumMemberus-gaap:SubordinatedDebtMember2023-12-310001367859srt:MaximumMemberczwi:SubordinatedNotes6.75DueAugust2030VariableRateCommencingAugust2022Memberus-gaap:SubordinatedDebtMember2023-12-310001367859czwi:SubordinatedNotes6.00DueAugust2032VariableRateCommencingSeptember2025Memberus-gaap:SubordinatedDebtMember2024-03-310001367859czwi:SubordinatedNotes6.00DueAugust2032VariableRateCommencingSeptember2025Membersrt:MinimumMemberus-gaap:SubordinatedDebtMember2024-03-310001367859srt:MaximumMemberczwi:SubordinatedNotes6.00DueAugust2032VariableRateCommencingSeptember2025Memberus-gaap:SubordinatedDebtMember2024-03-310001367859czwi:SubordinatedNotes6.00DueAugust2032VariableRateCommencingSeptember2025Memberus-gaap:SubordinatedDebtMember2023-12-310001367859czwi:SubordinatedNotes6.00DueAugust2032VariableRateCommencingSeptember2025Membersrt:MinimumMemberus-gaap:SubordinatedDebtMember2023-12-310001367859srt:MaximumMemberczwi:SubordinatedNotes6.00DueAugust2032VariableRateCommencingSeptember2025Memberus-gaap:SubordinatedDebtMember2023-12-310001367859us-gaap:SubordinatedDebtMember2024-03-310001367859us-gaap:SubordinatedDebtMember2023-12-310001367859us-gaap:SeniorNotesMember2024-03-310001367859us-gaap:SeniorNotesMember2023-12-310001367859us-gaap:FederalHomeLoanBankAdvancesMember2024-03-310001367859czwi:SeniorNotesVariableRateDueIn2034Memberus-gaap:PrimeRateMemberus-gaap:SeniorNotesMember2019-06-012019-06-300001367859czwi:SeniorNotesVariableRateDueIn2034Membersrt:MinimumMemberus-gaap:SeniorNotesMember2019-06-300001367859us-gaap:RevolvingCreditFacilityMemberczwi:SeniorNotesVariableRateDueInJune2031Member2024-03-310001367859czwi:SubordinatedNotes600DueAugust2030VariableRateCommencingSeptember2025Memberus-gaap:SubordinatedDebtMember2024-03-310001367859czwi:SubordinatedNotes600DueAugust2030VariableRateCommencingSeptember2025Memberus-gaap:SubordinatedDebtMember2024-01-012024-03-310001367859srt:ScenarioForecastMemberczwi:SubordinatedNotes600DueAugust2030VariableRateCommencingSeptember2025Memberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberus-gaap:SubordinatedDebtMember2025-09-012025-09-300001367859czwi:SubordinatedNotes475DueMarch2032VariableRateCommencingApril2027Memberus-gaap:SubordinatedDebtMember2024-03-310001367859czwi:SubordinatedNotes475DueMarch2032VariableRateCommencingApril2027Memberus-gaap:SubordinatedDebtMember2024-01-012024-03-310001367859srt:ScenarioForecastMemberczwi:SubordinatedNotes475DueMarch2032VariableRateCommencingApril2027Memberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberus-gaap:SubordinatedDebtMember2027-04-012027-04-300001367859us-gaap:LetterOfCreditMemberus-gaap:FederalReserveBankAdvancesMember2024-03-310001367859us-gaap:LetterOfCreditMemberus-gaap:FederalReserveBankAdvancesMember2023-12-310001367859us-gaap:FederalReserveBankAdvancesMember2024-03-310001367859us-gaap:FederalReserveBankAdvancesMember2023-12-310001367859us-gaap:FederalReserveBankAdvancesMember2024-01-012024-03-310001367859us-gaap:FederalReserveBankAdvancesMember2023-01-012023-12-310001367859czwi:UnsecuredFederalFundsPurchasedMember2024-01-012024-03-310001367859czwi:UnsecuredFederalFundsPurchasedMember2024-03-310001367859czwi:UnsecuredFederalFundsPurchasedMember2023-12-310001367859us-gaap:LineOfCreditMemberczwi:UnsecuredFederalFundsPurchasedMember2024-03-310001367859us-gaap:LineOfCreditMemberczwi:UnsecuredFederalFundsPurchasedMember2023-12-310001367859srt:ParentCompanyMember2024-03-310001367859srt:ParentCompanyMember2023-12-310001367859czwi:TwoThousandandEighteenEquityIncentivePlanMember2018-03-270001367859czwi:TwoThousandandEighteenEquityIncentivePlanMemberus-gaap:RestrictedStockMember2024-03-310001367859czwi:PerformanceBasedRestrictedSharesMemberczwi:TwoThousandandEighteenEquityIncentivePlanMember2024-03-310001367859czwi:PerformanceBasedRestrictedSharesMemberczwi:TwoThousandandEighteenEquityIncentivePlanMember2024-01-012024-03-310001367859czwi:PerformanceBasedRestrictedSharesMemberczwi:TwoThousandandEighteenEquityIncentivePlanMember2023-01-012023-01-310001367859czwi:TwoThousandandEighteenEquityIncentivePlanMember2024-03-310001367859czwi:TwoThousandAndEightEquityIncentivePlanMember2024-01-012024-03-310001367859us-gaap:RestrictedStockMemberczwi:TwoThousandAndEightEquityIncentivePlanMember2024-01-012024-03-310001367859us-gaap:EmployeeStockOptionMemberczwi:TwoThousandAndEightEquityIncentivePlanMember2024-01-012024-03-310001367859czwi:TwoThousandAndEightEquityIncentivePlanAndTwoThousandAndEighteenEquityIncentivePlanMemberus-gaap:RestrictedStockMember2024-01-012024-03-310001367859czwi:TwoThousandAndEightEquityIncentivePlanAndTwoThousandAndEighteenEquityIncentivePlanMemberus-gaap:RestrictedStockMember2023-01-012023-03-310001367859us-gaap:RestrictedStockMember2023-12-310001367859us-gaap:RestrictedStockMember2022-12-310001367859us-gaap:RestrictedStockMember2024-01-012024-03-310001367859us-gaap:RestrictedStockMember2023-01-012023-12-310001367859us-gaap:RestrictedStockMember2024-03-310001367859czwi:PerformanceBasedRestrictedSharesMember2023-12-310001367859czwi:PerformanceBasedRestrictedSharesMember2024-01-012024-03-310001367859czwi:PerformanceBasedRestrictedSharesMember2024-03-310001367859czwi:TwoThousandAndEightEquityIncentivePlanAndTwoThousandAndEighteenEquityIncentivePlanMember2024-01-012024-03-310001367859czwi:TwoThousandAndEightEquityIncentivePlanAndTwoThousandAndEighteenEquityIncentivePlanMember2023-01-012023-03-3100013678592024-01-250001367859us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001367859us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-03-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001367859us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001367859us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001367859us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-03-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001367859us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001367859us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001367859us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-03-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001367859us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001367859czwi:CorporateAssetBasedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001367859czwi:CorporateAssetBasedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-03-310001367859us-gaap:FairValueInputsLevel2Memberczwi:CorporateAssetBasedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001367859czwi:CorporateAssetBasedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001367859us-gaap:FairValueMeasurementsRecurringMember2024-03-310001367859us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-03-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001367859us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001367859us-gaap:EquityMethodInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001367859us-gaap:EquityMethodInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-03-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:EquityMethodInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001367859us-gaap:EquityMethodInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001367859us-gaap:EquityMethodInvestmentsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001367859us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001367859us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2023-12-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001367859us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001367859us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001367859us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2023-12-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001367859us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001367859us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001367859us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2023-12-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001367859us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001367859czwi:CorporateAssetBasedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001367859czwi:CorporateAssetBasedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2023-12-310001367859us-gaap:FairValueInputsLevel2Memberczwi:CorporateAssetBasedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001367859czwi:CorporateAssetBasedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001367859us-gaap:FairValueMeasurementsRecurringMember2023-12-310001367859us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2023-12-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001367859us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001367859us-gaap:EquityMethodInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001367859us-gaap:EquityMethodInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2023-12-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:EquityMethodInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001367859us-gaap:EquityMethodInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001367859us-gaap:EquityMethodInvestmentsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001367859us-gaap:FairValueMeasurementsNonrecurringMemberczwi:ForeclosedAndRepossessedAssetsMember2024-03-310001367859us-gaap:FairValueMeasurementsNonrecurringMemberczwi:ForeclosedAndRepossessedAssetsMemberus-gaap:FairValueInputsLevel1Member2024-03-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberczwi:ForeclosedAndRepossessedAssetsMember2024-03-310001367859us-gaap:FairValueMeasurementsNonrecurringMemberczwi:ForeclosedAndRepossessedAssetsMemberus-gaap:FairValueInputsLevel3Member2024-03-310001367859czwi:CollateralDependentLoansMemberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310001367859czwi:CollateralDependentLoansMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2024-03-310001367859us-gaap:FairValueInputsLevel2Memberczwi:CollateralDependentLoansMemberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310001367859czwi:CollateralDependentLoansMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2024-03-310001367859us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ServicingContractsMember2024-03-310001367859us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ServicingContractsMemberus-gaap:FairValueInputsLevel1Member2024-03-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ServicingContractsMember2024-03-310001367859us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ServicingContractsMemberus-gaap:FairValueInputsLevel3Member2024-03-310001367859us-gaap:FairValueMeasurementsNonrecurringMember2024-03-310001367859us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2024-03-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310001367859us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2024-03-310001367859us-gaap:FairValueMeasurementsNonrecurringMemberczwi:ForeclosedAndRepossessedAssetsMember2023-12-310001367859us-gaap:FairValueMeasurementsNonrecurringMemberczwi:ForeclosedAndRepossessedAssetsMemberus-gaap:FairValueInputsLevel1Member2023-12-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberczwi:ForeclosedAndRepossessedAssetsMember2023-12-310001367859us-gaap:FairValueMeasurementsNonrecurringMemberczwi:ForeclosedAndRepossessedAssetsMemberus-gaap:FairValueInputsLevel3Member2023-12-310001367859czwi:CollateralDependentLoansMemberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310001367859czwi:CollateralDependentLoansMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2023-12-310001367859us-gaap:FairValueInputsLevel2Memberczwi:CollateralDependentLoansMemberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310001367859czwi:CollateralDependentLoansMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2023-12-310001367859us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ServicingContractsMember2023-12-310001367859us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ServicingContractsMemberus-gaap:FairValueInputsLevel1Member2023-12-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ServicingContractsMember2023-12-310001367859us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ServicingContractsMemberus-gaap:FairValueInputsLevel3Member2023-12-310001367859us-gaap:FairValueMeasurementsNonrecurringMember2023-12-310001367859us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2023-12-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310001367859us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2023-12-310001367859czwi:ForeclosedAndRepossessedAssetsMemberus-gaap:FairValueInputsLevel3Member2024-03-310001367859us-gaap:MeasurementInputCostToSellMemberczwi:ForeclosedAndRepossessedAssetsMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMember2024-03-310001367859us-gaap:MeasurementInputCostToSellMembersrt:MaximumMemberczwi:ForeclosedAndRepossessedAssetsMemberus-gaap:FairValueInputsLevel3Member2024-03-310001367859czwi:CollateralDependentLoansMemberus-gaap:FairValueInputsLevel3Member2024-03-310001367859czwi:CollateralDependentLoansMemberus-gaap:MeasurementInputCostToSellMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMember2024-03-310001367859czwi:CollateralDependentLoansMemberus-gaap:MeasurementInputCostToSellMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Member2024-03-310001367859us-gaap:ServicingContractsMemberus-gaap:FairValueInputsLevel3Member2024-03-310001367859us-gaap:MeasurementInputDiscountRateMemberus-gaap:ServicingContractsMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMember2024-03-310001367859srt:MaximumMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ServicingContractsMemberus-gaap:FairValueInputsLevel3Member2024-03-310001367859czwi:ForeclosedAndRepossessedAssetsMemberus-gaap:FairValueInputsLevel3Member2023-12-310001367859us-gaap:MeasurementInputCostToSellMemberczwi:ForeclosedAndRepossessedAssetsMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMember2023-12-310001367859us-gaap:MeasurementInputCostToSellMembersrt:MaximumMemberczwi:ForeclosedAndRepossessedAssetsMemberus-gaap:FairValueInputsLevel3Member2023-12-310001367859czwi:ImpairedLoansWithAllocatedAllowancesMemberus-gaap:FairValueInputsLevel3Member2023-12-310001367859us-gaap:MeasurementInputCostToSellMemberczwi:ImpairedLoansWithAllocatedAllowancesMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMember2023-12-310001367859us-gaap:MeasurementInputCostToSellMembersrt:MaximumMemberczwi:ImpairedLoansWithAllocatedAllowancesMemberus-gaap:FairValueInputsLevel3Member2023-12-310001367859us-gaap:ServicingContractsMemberus-gaap:FairValueInputsLevel3Member2023-12-310001367859us-gaap:MeasurementInputDiscountRateMemberus-gaap:ServicingContractsMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMember2023-12-310001367859srt:MaximumMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ServicingContractsMemberus-gaap:FairValueInputsLevel3Member2023-12-310001367859us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2024-03-310001367859us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2024-03-310001367859us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2023-12-310001367859us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2023-12-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-03-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001367859us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-03-310001367859us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310001367859us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2024-03-310001367859us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2024-03-310001367859us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2023-12-310001367859us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2023-12-310001367859czwi:ResidentialMortgagesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2024-03-310001367859us-gaap:EstimateOfFairValueFairValueDisclosureMemberczwi:ResidentialMortgagesMemberus-gaap:FairValueInputsLevel1Member2024-03-310001367859czwi:ResidentialMortgagesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2023-12-310001367859us-gaap:EstimateOfFairValueFairValueDisclosureMemberczwi:ResidentialMortgagesMemberus-gaap:FairValueInputsLevel1Member2023-12-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:CarryingReportedAmountFairValueDisclosureMemberczwi:SmallBusinessAssociationPaycheckProtectionProgramLoansMember2024-03-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberczwi:SmallBusinessAssociationPaycheckProtectionProgramLoansMember2024-03-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:CarryingReportedAmountFairValueDisclosureMemberczwi:SmallBusinessAssociationPaycheckProtectionProgramLoansMember2023-12-310001367859us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberczwi:SmallBusinessAssociationPaycheckProtectionProgramLoansMember2023-12-310001367859us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2024-01-012024-03-310001367859us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2023-01-012023-03-310001367859us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-12-310001367859us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-01-012023-12-310001367859us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001367859us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-12-310001367859us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-01-012024-03-310001367859us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-03-310001367859us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-01-012024-03-310001367859us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-01-012023-03-31


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q  
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2024
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from             to            
Commission file number 001-33003
CITIZENS COMMUNITY BANCORP, INC.
(Exact name of registrant as specified in its charter)
Maryland 20-5120010
(State or other jurisdiction of
incorporation or organization)
 (IRS Employer
Identification Number)

2174 EastRidge Center
Eau Claire, WI 54701
(Address and Zip Code of principal executive offices)

715-836-9994
(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $.01 par value per shareCZWINASDAQ Global Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes      No  





Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes      No  
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act:
Large accelerated filer
Accelerated filer
Non-accelerated filerSmaller reporting company  
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes   No  

APPLICABLE ONLY TO CORPORATE ISSUERS
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:
At May 8, 2024 there were 10,406,341 shares of the registrant’s common stock, par value $0.01 per share, outstanding.



CITIZENS COMMUNITY BANCORP, INC.
FORM 10-Q
March 31, 2024
INDEX
  Page Number
Item 1.
Item 2.
Item 3.
Item 4.
Item 1.
Item 1A.
Item 2.
Item 3.
Item 4.
Item 5.
Item 6.
 
3


PART 1 – FINANCIAL INFORMATION

ITEM 1.FINANCIAL STATEMENTS
4


CITIZENS COMMUNITY BANCORP, INC.
Consolidated Balance Sheets
March 31, 2024 (unaudited) and December 31, 2023
(derived from audited financial statements)
(in thousands, except share and per share data)
March 31, 2024December 31, 2023
Assets
Cash and cash equivalents$28,638 $37,138 
Other interest bearing deposits  
Available for sale ("AFS") securities, at fair value (amortized cost of $176,564, net of allowance for credit losses of $0 at March 31, 2024 and amortized cost of $179,744, net of allowance for credit losses of $0 at December 31, 2023)
151,672 155,743 
Held to maturity ("HTM") securities, at amortized cost (fair value of $70,270, net of allowance for credit losses of $0 at March 31, 2024 and fair value of $73,262, net of allowance for credit losses of $0 at December 31, 2023)
89,942 91,229 
Equity investments3,281 3,284 
Other investments13,022 15,725 
Loans receivable1,450,159 1,460,792 
Allowance for credit losses(22,436)(22,908)
Loans receivable, net1,427,723 1,437,884 
Loans held for sale 5,773 
Mortgage servicing rights, net3,774 3,865 
Office properties and equipment, net18,026 18,373 
Accrued interest receivable6,324 5,409 
Intangible assets1,515 1,694 
Goodwill31,498 31,498 
Foreclosed and repossessed assets, net1,845 1,795 
Bank owned life insurance ("BOLI")25,836 25,647 
Other assets16,219 16,334 
TOTAL ASSETS$1,819,315 $1,851,391 
Liabilities and Stockholders’ Equity
Liabilities:
Deposits$1,527,489 $1,519,092 
Federal Home Loan Bank (“FHLB”) advances39,500 79,530 
Other borrowings67,523 67,465 
Other liabilities11,982 11,970 
Total liabilities1,646,494 1,678,057 
Stockholders’ Equity:
Common stock—$0.01 par value, authorized 30,000,000; 10,406,880 and 10,440,591 shares issued and outstanding, respectively
104 104 
Additional paid-in capital118,916 119,441 
Retained earnings71,831 71,117 
Accumulated other comprehensive loss(18,030)(17,328)
Total stockholders’ equity172,821 173,334 
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY$1,819,315 $1,851,391 
See accompanying condensed notes to unaudited consolidated financial statements.
5


CITIZENS COMMUNITY BANCORP, INC.
Consolidated Statements of Operations (unaudited)
Three Months Ended March 31, 2024 and 2023
(in thousands, except per share data)
 Three Months Ended
March 31, 2024March 31, 2023
Interest and dividend income:
Interest and fees on loans$20,168 $17,126 
Interest on investments2,511 2,547 
Total interest and dividend income22,679 19,673 
Interest expense:
Interest on deposits9,209 4,348 
Interest on FHLB and FRB borrowed funds512 1,493 
Interest on other borrowed funds1,053 1,037 
Total interest expense10,774 6,878 
Net interest income before provision for credit losses11,905 12,795 
Provision for credit losses(800)50 
Net interest income after provision for credit losses12,705 12,745 
Non-interest income:
Service charges on deposit accounts471 485 
Interchange income541 551 
Loan servicing income582 569 
Gain on sale of loans1,020 298 
Loan fees and service charges230 80 
Net gains on investment and equity securities167 56 
Other253 253 
Total non-interest income3,264 2,292 
Non-interest expense:
Compensation and related benefits5,483 5,338 
Occupancy1,367 1,423 
Data processing1,597 1,460 
Amortization of intangible assets179 204 
Mortgage servicing rights expense, net148 158 
Advertising, marketing and public relations164 136 
FDIC premium assessment205 201 
Professional services566 505 
Losses (gains) on repossessed assets, net (29)
Other1,068 725 
Total non-interest expense10,777 10,121 
Income before provision for income taxes5,192 4,916 
Provision for income taxes1,104 1,254 
Net income attributable to common stockholders$4,088 $3,662 
Per share information:
Basic earnings$0.39 $0.35 
Diluted earnings$0.39 $0.35 
Cash dividends paid$0.32 $0.29 
See accompanying condensed notes to unaudited consolidated financial statements.
6


CITIZENS COMMUNITY BANCORP, INC.
Consolidated Statements of Comprehensive Income (Loss) (unaudited)
Three months ended March 31, 2024 and 2023
(in thousands)
 Three Months Ended
 March 31, 2024March 31, 2023
Net income attributable to common stockholders$4,088 $3,662 
Other comprehensive (loss) income, net of tax:
Securities available for sale
Net unrealized (losses) gains arising during period, net of tax(702)1,065 
Other comprehensive (loss) income, net of tax(702)1,065 
Comprehensive income$3,386 $4,727 
See accompanying condensed notes to unaudited consolidated financial statements.
 

7


CITIZENS COMMUNITY BANCORP, INC.
Consolidated Statement of Changes in Stockholders’ Equity (unaudited)
Three Months Ended March 31, 2024
(in thousands, except shares and per share data)
Additional Paid-In CapitalRetained EarningsAccumulated Other Comprehensive Income (loss)Total Stockholders’ Equity
 Common Stock
 SharesAmount
Balance, December 31, 202310,440,591 $104 $119,441 $71,117 $(17,328)$173,334 
Net income— — — 4,088 — 4,088 
Other comprehensive income, net of tax— — — — (702)(702)
Surrender of restricted shares of common stock(9,471)— (113)— — (113)
Restricted common stock awarded under the equity incentive plan16,955 — — — — 
Restricted common stock issued upon achievement of the 2021 performance criteria8,805 — — — — — 
Common stock repurchased(50,000) (570)(28)— (598)
Amortization of restricted stock— — 158 — — 158 
Cash dividends ($0.32 per share)
— — — (3,346)— (3,346)
Balance at March 31, 202410,406,880$104 $118,916 $71,831 $(18,030)$172,821 
See accompanying condensed notes to unaudited consolidated financial statements.
 

8


CITIZENS COMMUNITY BANCORP, INC.
Consolidated Statement of Changes in Stockholders’ Equity (unaudited)
Twelve Months Ended December 31, 2023
(in thousands, except shares and per share data)
Additional Paid-In CapitalRetained EarningsAccumulated Other Comprehensive Income (Loss)Total Stockholders’ Equity
 Common Stock
 SharesAmount
Balance, January 1, 202310,425,119 $104 $119,240 $65,400 $(17,656)$167,088 
Net income— — — 3,662 — 3,662 
Other comprehensive loss, net of tax— — — — 1,065 1,065 
Forfeiture of unvested shares(1,168)— — — — — 
Surrender of restricted shares of common stock(10,287)— (129)— — (129)
Restricted common stock awarded under the equity incentive plan50,606 1 — — — 1 
Restricted stock issued upon achievement of the 2020 performance criteria18,551 — — — — — 
Amortization of restricted stock— — 216 — — 216 
Cumulative change in accounting principle for adoption of ASU 2016-13— — — (4,432)— (4,432)
Cumulative change in accounting principle for adoption of ASU 2023-02— — — 130 — 130 
Cash dividends ($0.29 per share)
— — — (3,040)— (3,040)
Balance at March 31, 202310,482,821105 119,327 61,720 (16,591)164,561 
Net income— — — 3,206 — 3,206 
Other comprehensive loss, net of tax— — — — (2,286)(2,286)
Forfeiture of unvested shares(1,500)— — — — — 
Common stock options exercised3,000 — 28 — — 28 
Common stock repurchased (14,146)— (117)— — (117)
Amortization of restricted stock— — 166 — — 166 
Balance at June 30, 202310,470,175105 119,404 64,926 (18,877)165,558 
Net income— — — 2,498 — 2,498 
Other comprehensive loss, net of tax— — — — (2,862)(2,862)
Forfeiture of unvested shares(2,084)— — — — — 
Amortization of restricted stock— — 208 — — 208 
Balance, September 30, 202310,468,091 105 119,612 67,424 (21,739)165,402 
Net income— — — 3,693 — 3,693 
Other comprehensive loss, net of tax— — — — 4,411 4,411 
Common stock repurchased(27,500)(1)(303)— — (304)
Amortization of restricted stock— — 132 — — 132 
Balance, December 31, 202310,440,591 $104 $119,441 $71,117 $(17,328)$173,334 
See accompanying condensed notes to unaudited consolidated financial statements.
 

9


CITIZENS COMMUNITY BANCORP, INC.
Consolidated Statements of Cash Flows (unaudited)
Three Months Ended March 31, 2024 and 2023
(in thousands)
Three Months Ended
March 31, 2024March 31, 2023
Cash flows from operating activities:
Net income attributable to common stockholders$4,088 $3,662 
Adjustments to reconcile net income to net cash provided by operating activities:
Investment securities net discount accretion(19)(30)
Depreciation expense561 606 
(Negative provision) provision for credit losses(800)50 
Net realized gain on equity securities(167)(56)
Increase in mortgage servicing rights resulting from transfers of financial assets(57)(16)
Mortgage servicing rights amortization and impairment, net148 158 
Amortization of intangible assets179 204 
Amortization of restricted stock158 216 
Loss on sale of office properties and equipment(13) 
Decrease in deferred income taxes355 457 
Increase in cash surrender value of life insurance(189)(164)
Net loss (gain) from disposals of foreclosed and repossessed assets (29)
Gain on sale of loans held for sale, net(1,020)(298)
Proceeds from sale of loans held for sale18,543 4,563 
Originations of loans held for sale(11,750)(5,026)
Proceeds from insurance claim on foreclosed and repossessed assets27  
Net change in:
Accrued interest receivable and other assets(966)(837)
Other liabilities12 (1,640)
Total adjustments5,002 (1,842)
Net cash provided by operating activities9,090 1,820 
Cash flows from investing activities:
Purchase of available for sale securities (11,007)
Proceeds from principal payments of available for sale securities3,202 5,077 
Proceeds from principal payments and maturities of held to maturity securities1,284 1,075 
Equity investment capital distribution170  
Purchase of equity investments (300)
Net sales (purchases) of other investments2,703 (1,594)
Proceeds from sales of foreclosed and repossessed assets 212 
Net decrease (increase) in loans10,888 (9,082)
Net capital expenditures(214)(313)
Proceeds from disposal of office properties and equipment13 3 
Net cash provided by (used in) investing activities18,046 (15,929)
Cash flows from financing activities:
Change in short term Federal Home Loan Bank advances, net(34,500)70,000 
Federal Home Loan Bank advance long-term maturities(5,530)(30,000)
Amortization of debt issuance costs58 58 
Other borrowings principal reductions (5,167)
Net increase in deposits8,393 12,073 
Common stock restricted shares  1 
Repurchase shares of common stock(598) 
Surrender of restricted shares of common stock(113)(129)
Cash dividends paid(3,346)(3,040)
Net cash (used in) provided by financing activities(35,636)43,796 
Net (decrease) increase in cash and cash equivalents(8,500)29,687 
Cash and cash equivalents at beginning of period37,138 35,363 
Cash and cash equivalents at end of period$28,638 $65,050 


10


Supplemental cash flow information:
Cash paid during the period for:
Interest on deposits$7,079 $4,325 
Interest on borrowings$2,249 $2,947 
Income taxes$ $ 
Supplemental noncash disclosure:
Transfers from loans receivable to other real estate owned ("OREO")$73 $25 

See accompanying condensed notes to unaudited consolidated financial statements. 
11


CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in thousands, except share and per share data)
(UNAUDITED)
NOTE 1 – NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The consolidated financial statements of Citizens Community Federal N.A. (the “Bank”) included herein have been included by its parent company, Citizens Community Bancorp, Inc. (the “Company”) pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. As used in this quarterly report, the terms “we”, “us”, “our”, and “Citizens Community Bancorp, Inc.” mean the Company and its wholly owned subsidiary, the Bank, unless the context indicates other meaning.
The Bank is a national banking association (a “National Bank”) and operates under the title of Citizens Community Federal National Association (“Citizens Community Federal N.A.” or “Bank” or “CCFBank”). The Company is a bank holding company, supervised by the Federal Reserve Bank of Minneapolis (the “FRB”), and operates under the title of Citizens Community Bancorp, Inc. The Office of the Comptroller of the Currency (the “OCC”), is the primary federal regulator for the Bank.
The consolidated income of the Company is principally derived from the income of the Bank, the Company’s wholly owned subsidiary, serving customers primarily in Wisconsin and Minnesota through 23 branch locations. Its primary markets include the Chippewa Valley Region in Wisconsin, the Mankato and Twin Cities markets in Minnesota, and various rural communities around these areas. The Bank offers traditional community banking services to businesses, agricultural operators and consumers, including one-to-four family residential mortgages.
The Bank is subject to competition from other financial institutions and non-financial institutions providing financial products. Additionally, the Bank is subject to the regulations of certain regulatory agencies and undergoes periodic examination by those regulatory agencies.
In preparing these consolidated financial statements, we evaluated the events and transactions that occurred subsequent to the balance sheet date of March 31, 2024, through the date on which the consolidated financial statements were available to be issued on May 8, 2024, for items that should potentially be recognized or disclosed in these consolidated financial statements.
The accompanying consolidated interim financial statements are unaudited. However, in the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included.
Unless otherwise stated herein, and except for shares and per share amounts, all amounts are in thousands.
Principles of Consolidation – The accompanying consolidated financial statements include the accounts of the Company and the Bank. All significant intercompany accounts and transactions have been eliminated.
Use of Estimates –Preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. These estimates are based on management’s best knowledge of current events and actions the Company may undertake in the future. Estimates are used in accounting for, among other items, fair value of financial instruments, the allowance for credit losses, mortgage servicing rights, foreclosed and repossessed assets, valuation of intangible assets arising from acquisitions, useful lives for depreciation and amortization, valuation of goodwill and long-lived assets, stock based compensation, deferred tax assets, uncertain income tax positions and contingencies. Management does not anticipate any material changes to estimates made herein in the near term. Factors that may cause sensitivity to the aforementioned estimates include but are not limited to: those items described under the caption “Risk Factors” in Item 1A of the annual report on Form 10-K for the year ended December 31, 2023, filed with the SEC on March 5, 2024; the matters described in “Risk Factors” in Item 1A of this Form 10-Q; and external market factors such as market interest rates and unemployment rates; changes to operating policies and procedures, and changes in applicable banking regulations. Actual results may ultimately differ from estimates, although management does not generally believe such differences would materially affect the consolidated financial statements in any individual reporting period.
Cash and Cash Equivalents—For purposes of reporting cash flows in the consolidated financial statements, cash and cash equivalents include cash, due from banks, and interest bearing deposits with original maturities of three months or less.
Investment Securities; Available for Sale and Held to Maturity – Management determines the appropriate classification of investment securities at the time of purchase and reevaluates such designation as of the date of each balance sheet. Securities
12


are classified as held to maturity when the Company has the positive intent and ability to hold the securities to maturity. Held to maturity securities are stated at amortized cost. Investment securities not classified as held to maturity are classified as available for sale. Available for sale securities are stated at fair value, with unrealized holding gains and losses being reported in other comprehensive income (loss), net of tax. Realized gains or losses on sales of available for sale securities are calculated with the specific identification method and are included in the consolidated statements of operations under net gains on investment securities. Interest income includes amortization of purchase premium or accretion of purchase discount. Amortization of premiums and accretion of discounts are recognized in interest income using the interest method over the estimated lives of the securities.
Allowance for Credit Losses – Available for Sale Securities - The Company measures the allowance for credit losses on available for sale debt securities by evaluating securities in an unrealized loss position using a two-step process. First, the Company assesses whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost. If it is determined that the Company intends or will be required to sell the security, it is written down to its fair value as net gains or losses on investment securities in our consolidated statement of operations. For agency mortgage-backed and asset-backed securities that do not meet the criteria in step one, there are no expected credit losses as they are guaranteed by the U.S. government, are highly rated by major rating agencies, and have a long history of no credit losses. For other debt securities that do not meet the criteria in step one, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and the allowance for credit losses on available for sale investments is recorded for the credit loss, limited by the amount that the fair value is less that the amortized cost basis. Any impairment that has not been recorded though an allowance for credit losses is recognized in other comprehensive income.
Allowance for Credit Losses – Held to Maturity Securities -The Company measures expected credit losses on held to maturity debt securities on a collective basis by major security type. For agency mortgage-backed securities there are no expected credit losses as they are guaranteed by the U.S. government, are highly rated by major rating agencies, and have a long history of no credit losses. For other securities, the estimate of expected credit losses considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts.
The Company has elected to not measure an ACL on accrued interest on available for sale and held to maturity securities, as it would write off accrued interest in a timely manner if the related security was determined to have a credit loss. The Company has no available for sale securities or held to maturity securities which it deems to have a credit loss at March 31, 2024.
Equity investments - The Company is required to maintain an investment in Federal Agricultural Mortgage Corporation (“Farmer Mac”) equity securities. Farmer Mac equity securities are carried at their fair market value, which is readily determinable. Changes in fair value are recognized as net gains or losses on investment securities in our consolidated statement of operations.
Also included in equity investments are the Company’s investments in a Volker Rule-compliant Small Business Investment Company ("SBIC") and an investment fund. The SBIC and investment fund meet the definition of investment companies, as defined in ASC 946, Financial Services - Investment Companies. These investments seek returns by investing in various small businesses and do not have redemption rights. Distributions from the investments will be received as the underlying investments, which generally have a life of 10 years, are liquidated. We elected the practical expedient available in Topic 820, Fair Value Measurements, which permits the use of net asset value ("NAV") per share or equivalent to value investments in entities that are or are similar to investment companies. SBICs and investment funds report their investments at estimated fair value. We record the unrealized gains and losses resulting from changes in the fair value of these investments as net gains or losses on investment securities in our consolidated statements of operations. The carrying value of these investments is equal to the capital account as provided by the investee and adjusted as necessary.
Other Investments - As a member of the Federal Reserve Bank (“FRB”) System and the Federal Home Loan Bank (“FHLB”) System, the Bank is required to maintain an investment in the capital stock of these entities. These securities are “restricted” in that they can only be sold back to the respective institutions or another member institution at par. Therefore, they are less liquid than other exchange traded equity securities. As no ready market exists for these stocks, and they have no quoted market value, these investments are carried at cost and periodically evaluated for impairment based on the ultimate recovery of par value. Cash dividends are reported as other income in our consolidated statements of operations.
13


Also included in other investments is stock of our correspondent bank, Bankers’ Bank, without readily determinable fair value. This stock is carried at cost plus or minus changes resulting from observable price changes in orderly transactions for this stock, less other-than-temporary impairment charges, if any.
Management’s evaluation for impairment of these other investments, includes consideration of the financial condition and other available relevant information of the issuer. Based on management’s quarterly evaluation, no impairment has been recorded on these securities. Other investments totaling $13,022 at March 31, 2024 consisted of $4,595 of FHLB stock, $5,703 of Federal Reserve Bank stock and $2,724 of Bankers’ Bank stock. Other investments totaling $15,725 at December 31, 2023 consisted of $7,302 of FHLB stock and $5,699 of Federal Reserve Bank stock and $2,724 of Bankers’ Bank stock.
Loans Receivable – Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of deferred loan fees and costs, accretable yield on acquired loans, and non-accretable discount on purchased credit deteriorated (PCD) loans. Interest income is accrued on the unpaid principal balance of these loans and is presented as a separate line item on the consolidated balance sheets. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the interest method over the contractual life of the loan with no prepayments assumed. If the loan is prepaid, any unamortized net fee is recognized at this time. Late charge fees are recognized into income when collected.
Interest income on commercial, mortgage and consumer loans is discontinued according to the following schedules:
Commercial/agricultural real estate loans past due 90 days or more;
Commercial and industrial/agricultural operating loans past due 90 days or more;
Closed end consumer installment loans past due 120 days or more; and
Residential mortgage loans and open ended consumer installment loans past due 180 days or more.
Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual status or charged off at an earlier date if collection of principal or interest is considered doubtful. All interest accrued but not received for a loan placed on nonaccrual status is reversed against interest income. Interest received on such loans is accounted for on the cash basis or cost recovery method until qualifying for return to accrual status. Loans are returned to accrual status when payments are made that bring the loan account current with the contractual term of the loan and a six month payment history has been established.
Residential mortgage loans and open ended consumer installment loans are charged off to estimated net realizable value less estimated selling costs at the earlier of when (a) the loan is deemed by management to be uncollectible, or (b) the loan becomes past due 180 days or more. Closed ended consumer installment loans are charged off to net realizable value at the earlier of when (a) the loan is deemed by management to be uncollectible, or (b) the loan becomes past due 120 days or more. Commercial/agricultural real estate, commercial and industrial and agricultural operating loans are charged off to net realizable value at the earlier of when (a) the loan is deemed by management to be uncollectible, or (b) the loan becomes past due 90 days or more.
Allowance for Credit Losses – Loans The allowance for credit losses (“ACL”) on loans is a valuation allowance for current expected credit losses in the Company’s loan portfolio. Prior to January 1, 2023, the valuation allowance was established for probable and inherent credit losses. Loan losses are charged against the ACL when management believes that the collectability of a loan balance is unlikely. Subsequent recoveries, if any, are credited to the ACL. In determining the allowance, the company estimates credit losses over the loan’s entire contractual term, adjusted for expected prepayments when appropriate. The allowance estimate considers relevant available information from internal and external sources relating to historical loss experience; known and inherent risks in our portfolio; information about specific borrowers’ ability to repay; estimated collateral values; current economic conditions; reasonable and supportable forecasts for future conditions; and other relevant factors determined by management. To ensure that the ACL is maintained at an adequate level, a detailed analysis is performed on a quarterly basis and an appropriate provision is made to adjust the allowance. The entire ACL balance is available for any loan that, in management’s judgment, should be charged off.
The determination of the ACL requires significant judgement to estimate credit losses. The ACL on loans is measured collectively on a pooled basis when similar risk characteristics exist, and on an individual basis when management determines that the loan does not share similar risk characteristics with other loans. The ACL on loans collectively evaluated is measured using the loss rate model. The Company categorizes its loan portfolio into four segments based on similar risk characteristics. Loans within each segment are pooled based on individual loan characteristics. Aggregated risk drivers are then calculated at a pool level. Risk drivers are identified attributes that have proven to be predictive of loan loss rates and vary based on loan
14


segment and type. A loss rate is calculated and applied to the pool utilizing a model that combines the pool’s risk drivers, historical loss experience, and reasonable and supportable future economic forecasts to project lifetime losses. For commercial/agricultural real estate loans, the loss rate is then combined with the loans balance and contractual maturity, adjusted for expected prepayments, to determine expected future losses. Future and supportable economic forecasts are based on national economic conditions and their reversion to the mean is implicit in the model and generally occurs over a period of two years. For commercial and industrial/agricultural operating, residential, and consumer loans, the loss rate is then combined with the loans balance and contractual maturity, to determine expected future losses.
Qualitative adjustments are made to the allowance calculated on collectively evaluated loans to incorporate factors not included in the model. Qualitative factors include but are not limited to, lending policies and procedures, the experience and ability of lending and other staff, the volume and severity of problem credits, quality of the loan review system, and other external factors.
Loans that exhibit different risk characteristics from the pool are individually evaluated. Loans can be identified for individual evaluation for a variety of reasons including delinquency, nonaccrual status, risk rating and loan modification. Accruing loans that exhibit different risk characteristics from their pool may also be within scope. On these loans, an allowance may be established so that the loan is reported, net, at the lower of (a) its amortized cost; (b) the present value of the loan’s estimated future cash flows using the loan’s existing rate; or (c) at the fair value of any loan collateral, less estimated disposal costs, if the loan is collateral dependent. Collateral dependency is determined using the practical expedient when: 1) the borrower is experiencing financial difficulty; and 2) repayment is expected to be provided substantially through the sale or operation of the collateral.
The Company has elected to not measure an ACL on accrued interest as it writes off accrued interest in a timely manner.
Allowance for Credit Losses - Unfunded Commitments - The ACL on unfunded commitments is a liability for credit losses on commitments to originate or fund loans, and standby letters of credit. It is included in “Other liabilities” on the consolidated balance sheets. Expected credit losses are estimated over the contractual period in which the Company is exposed to credit risk via a commitment that cannot be unconditionally canceled, adjusted for projected prepayments when appropriate. In addition, the estimate of the liability considers the likelihood that funding will occur. The ACL on unfunded commitments is adjusted through provision for credit losses on consolidated statements of operations. Because the business processes and risks associated with unfunded commitments are essentially the same as loans, the Company uses the same process to estimate the liability.
Loans Held for Sale — Loans held for sale are those loans the Company has the intent to sell in the foreseeable future. They are carried at the lower of aggregate cost or fair value. Gains and losses on sales of loans are recognized at settlement dates, and are determined by the difference between the sales proceeds and the carrying value of the loans after allocating costs to servicing rights retained. Such gains and losses are included as non-interest income in the consolidated statements of operations. All sales are made without recourse. Interest rate lock commitments on mortgage loans to be funded and sold are valued at fair value, and are included in other assets or liabilities, if material.
Transfers of financial assets—Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the entity, (2) the transferee obtains the right, free of conditions that constrain it from taking advantage of that right, to pledge or exchange the transferred assets, and (3) the entity does not maintain effective control over the transferred assets through an agreement to repurchase them before maturity.
Mortgage Servicing Rights— Mortgage servicing rights (“MSR”) assets result as the Company sells loans to investors in the secondary market and retains the rights to service mortgage loans sold to others. MSR assets are initially measured at fair value; assessed for impairment at least annually; and carried at the lower of the initial capitalized amount, net of accumulated amortization, or estimated fair value. MSR assets are amortized in proportion to and over the period of estimated net servicing income, with the amortization recorded as “Mortgage servicing rights expense, net” in non-interest expense in the consolidated statements of operations.
The valuation of MSRs and related amortization, included in mortgage servicing rights expense in the consolidated statements of operations, thereon are based on numerous factors, assumptions and judgments, such as those for: changes in the mix of loans, interest rates, prepayment speeds, and default rates. Changes in these factors, assumptions and judgments may have a material effect on the valuation and amortization of MSRs. Although management believes that the assumptions used to evaluate the MSRs for impairment are reasonable, future adjustment may be necessary if future economic conditions differ substantially from the economic assumptions used to determine the value of MSRs.
15


Servicing fee income, which is reported on the consolidated statements of operations in non-interest income as loan servicing income, is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of outstanding principal; or a fixed amount per loan and are recorded as income when earned.
Office Properties and Equipment—Premises and equipment are stated at cost less accumulated depreciation. Land is carried at cost. Maintenance and repair costs are charged to expense as incurred. Gains or losses on disposition of office properties and equipment are reflected in income. Buildings and related components are depreciated using the straight-line method with useful lives ranging from 10 to 40 years. Furniture, fixtures and equipment are depreciated using the straight-line (or accelerated) method with useful lives ranging from 3 to 10 years. Leasehold improvements are depreciated using the straight-line (or accelerated) method with useful lives based on the lesser of (a) the estimated life of the lease, or (b) the estimated useful life of the leasehold improvement. Depreciation expense is included in non-interest expense on the consolidated statements of operations.
Goodwill and other intangible assets—The Company accounts for goodwill and other intangible assets in accordance with ASC Topic 350, “Intangibles - Goodwill and Other.” The Company records the excess of the cost of acquired entities over the fair value of identifiable tangible and intangible assets acquired, less liabilities assumed, as goodwill. The Company amortizes acquired intangible assets, primarily Core Deposit Intangibles (CDI) with definite useful economic lives over their useful economic lives originally ranging from 72 to 111 months utilizing the straight-line method. On a periodic basis, management assesses whether events or changes in circumstances indicate that the carrying amounts of the intangible assets may be impaired. Goodwill is not amortized but, instead, is subject to impairment tests on at least an annual basis, and more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. A reporting unit is defined as any distinct, separately identifiable component of the Company’s one operating segment for which complete, discrete financial information is available and reviewed regularly by the segment’s management. The Company has one reporting unit as of March 31, 2024, which is related to its banking activities. The impairment testing process is conducted by assigning net assets and goodwill to the Company’s reporting unit. An initial qualitative evaluation is made to assess the likelihood of impairment and determine whether further quantitative testing to calculate the fair value is necessary. When the qualitative evaluation indicates that impairment is more likely than not, quantitative testing is required whereby the fair value of the Company’s reporting unit is calculated and compared to the recorded book value, “step one.” If the calculated fair value of the Company’s reporting unit exceeds its carrying value, goodwill is not considered impaired and “step two” is not considered necessary. If the carrying value of the Company’s reporting unit exceeds its calculated fair value, the impairment test continues (“step two”) by comparing the carrying value of the Company’s reporting unit’s goodwill to the implied fair value of goodwill. An impairment charge is recognized if the carrying value of goodwill exceeds the implied fair value of goodwill. The Company has performed the required goodwill impairment test and has determined that goodwill was not impaired as of December 31, 2023. The Company has monitored events and conditions since December 31, 2023, and has determined that no triggering event has occurred that would require goodwill to be tested for impairment.
Foreclosed and Repossessed Assets, net – Assets acquired through foreclosure or repossession are initially recorded at fair value, less estimated costs to sell, which establishes a new cost basis. If the fair value declines subsequent to foreclosure or repossession, a write-down is recorded through expense. Costs incurred after acquisition are expensed and are included in non-interest expense, other in the consolidated statements of operations.
Bank Owned Life Insurance (BOLI)—The Bank invests in bank-owned life insurance (BOLI) as a source of funding for employee benefit expenses. BOLI involves the purchasing of life insurance by the Bank on a select group of employees. The Bank is the owner and beneficiary of the policies. Income from the increase in cash surrender value of the policies as well as the receipt of death benefits is included in non-interest income on the consolidated statements of operations.
New Markets Tax Credits - As a part of its commitment to the communities it serves, in the first quarter of 2022, the Company made an investment in an LLC that is sponsoring a community development project that has been awarded a New Markets Tax Credit (“NMTC”) through the U.S. Department of the Treasury’s Community Development Financial Institutions Fund. This investment is Community Reinvestment Act eligible and is designed to generate a return primarily through the realization of the tax credit. This LLC is considered a Variable Interest Entity (VIE) as the Company represents the holder of the equity investment at risk. However, the Company does not have the ability to direct the activities that most significantly affect the performance of the LLC. As such, the Company is not the primary beneficiary of the VIE and the LLC has not been consolidated. With the adoption of ASU 2023-02 on January 1, 2023 discussed in Recent Accounting Pronouncements - Adopted below, the investment is accounted for using the proportional amortization method, which requires amortizing the investment in the period of and in proportion to the recognition of the related tax credit. Amortization of the investment is included in provision for income taxes and the utilization of the tax credit is recorded as a reduction in provision for income taxes. Prior to the adoption of ASU 2023-02 the investment was accounted for using the equity method of accounting and was amortized through non-interest expense
16


As of March 31, 2024, the carrying amount of this investment, which is included in other assets in the consolidated balance sheets, was $2,753. The risk of loss with this investment is limited to its carrying value and is tied to its ability to operate in compliance with the rules and regulations necessary for the qualification of the tax credit generated by the investment. As of March 31, 2024, there were no known instances of noncompliance associated with the investment.
Leases - We determine if an arrangement is a lease at inception. All of our existing leases have been determined to be operating leases under ASC 842. Right-of-use (“ROU”) assets are included in other assets in our consolidated balance sheets. Operating lease liabilities are included in other liabilities in our consolidated balance sheets. Lease expense is included in non-interest expense, “Occupancy” in the consolidated statements of operations.

ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date, based on the present value of lease payments over the lease term. As none of our existing leases provide an implicit rate, we use our incremental borrowing rate, based on information available at commencement date, in determining the present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease, when it is reasonably certain that we will exercise that option. Lease expense is recognized based on the total contractually required lease payments, over the term of the lease, on a straight-line basis. Some of the Bank’s leases require it to make variable payments for the Bank’s share of property taxes, insurance, common area maintenance and other costs. These variable costs are recognized when incurred and are also included in lease expense.
Federal Hold Loan Bank (“FHLB”) advances - The Bank holds both $9,500 and $44,000 short-term and $30,000 and $35,530 long-term FHLB advances as of March 31, 2024 and December 31, 2023, respectively. For cash flow purposes the short-term FHLB advances are disclosed net with original maturities of three months or less.
Debt and equity issuance costs—Debt issuance costs, which consist primarily of fees paid to note lenders, are deferred and included in other borrowings in the consolidated balance sheets.Debt issuance costs that originated in 2020 and thereafter, are amortized through the first Company call option date of the corresponding debt, as a component of interest expense on other borrowed funds in the consolidated statements of operations. Senior note debt issuance costs, are amortized over the contractual term of the corresponding debt, as a component of interest expense on other borrowed funds in the consolidated statements of operations. Specific costs associated with the issuance of shares of the Company’s common or preferred stock are netted against proceeds and recorded in stockholders’ equity, as additional paid in capital, on the consolidated balance sheets, in the period of the share issuance.
Share-Based Compensation—The Company may grant restricted stock awards and other stock-based awards to plan participants, subject to forfeiture upon the occurrence of certain events until the dates specified in the participant’s award agreement. The Company accounts for forfeitures as they occur. While time based restricted shares are subject to forfeiture, time based restricted stock award participants may exercise full voting rights and will receive all dividends and other distributions paid with respect to the restricted shares. The time based restricted shares granted under the 2018 Equity Incentive Plan (the “Plan”) are subject to a three-year vesting period. Compensation expense for time based restricted stock is recognized over the requisite service period of three years for the entire award on a straight-line basis. Performance based restricted shares are earned over a three-year period based on Board approved performance metrics and expense is recorded based on expected shares vesting. The performance based restricted stock award participants do not have voting rights and do not receive dividends or other distributions paid with respect to the performance based restricted shares. Upon vesting of restricted stock, the benefit of tax deductions in excess of recognized compensation expense is reflected as an income tax benefit in the Consolidated Statements of Operations.
    Advertising, Marketing and Public Relations Expense—The Company expenses all advertising, marketing and public relations costs as they are incurred.
Income Taxes – The Company accounts for income taxes in accordance with the Financial Accounting Standards Board (FASB) Accounting Standards Codification (“ASC”) Topic 740, “Income Taxes.” Under this guidance, deferred taxes are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates that will apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as income or expense in the period that includes the enactment date.
The Company regularly reviews the carrying amount of its net deferred tax assets to determine if the establishment of a valuation allowance is necessary. If based on the available evidence, it is more likely than not that all or a portion of the
17


Company’s net deferred tax assets will not be realized in future periods, a deferred tax valuation allowance would be established. Consideration is given to various positive and negative factors that could affect the realization of the deferred tax assets. In evaluating this available evidence, management considers, among other things, historical performance, expectations of future earnings, the ability to carry back losses to recoup taxes previously paid, the length of statutory carry forward periods, any experience with utilization of operating loss and tax credit carry forwards not expiring, tax planning strategies and timing of reversals of temporary differences. Significant judgment is required in assessing future earnings trends and the timing of reversals of temporary differences. Accordingly, the Company’s evaluation is based on current tax laws as well as management’s expectations of future performance.
The Company’s effective tax rates were 21.3% for the three months ended March 31, 2024, and 25.5% for the three months ended March 31, 2023. The Wisconsin state budget, signed July 5, 2023, effective January 1, 2023, made originated loans in Wisconsin for business purposes up to $5,000 non-taxable. This change lowers the Company’s income tax rate for the three-months ended March 31, 2024, and lowered the Company’s income tax rate for the twelve-month period ended December 31, 2023, before related valuation allowance. Income tax expense in 2023, was lower due to the retroactive, effect of this change. This reduction of income tax expense was offset by a one-time tax expense of $1,828 in the period ended September 30, 2023, as the impact of the resulting lower incremental tax rate decreased the estimated future realization of an existing deferred tax asset resulting in a valuation allowance.
Revenue Recognition - The Company’s primary source of revenue is interest income from interest earning assets, which is recognized on the accrual basis of accounting using the effective interest method. The recognition of revenues from interest earning assets is based upon formulas from underlying loan agreements, securities contracts or other similar contracts.
The Company accounts for revenue from contracts with customers in accordance with ASC Topic 606, “Revenue from Contracts with Customers.” Topic 606 provides that revenue from contracts with customers be recognized when performance obligations under the terms of a contract are satisfied. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods or providing service. The Company does not have any materially significant payment terms as payment is received shortly after the satisfaction of the performance obligation. The non-interest income line items recognized under the scope of Topic 606 are as follows:
Service charges on deposit accounts - Service charges on accounts consist of monthly service fees, transaction-based fees, overdraft fees and other deposit account related fees. The Company’s performance obligation for monthly services fees is generally satisfied over the period in which the service is provided. Revenue for these monthly fees is recognized during the service period. Other deposit account related fees are largely transactional based, and therefore, the Company’s performance obligation is satisfied at the time the service is provided. Payment for service charges on deposit accounts are primarily received immediately or in the following month through a direct charge to a customer’s account.
Interchange income - The Company earns interchange fees when cardholder debit card transaction are processed through card association networks. The interchange rates are generally set by the card association based upon purchase volumes and other factors. Interchange fees represent a percentage of the underlying transaction value. The Company has a continuous contract, based on customary business practices, with the card association networks to make funds available for settlement of card transactions. The Company’s performance obligation is satisfied over time as it makes funds available, and the related income is recognized when received.
Gain (loss) on repossessed assets - The Company records a gain or loss from the sale of repossessed assets, when control of the property or asset transfers to the buyer, which generally occurs at the time of an executed deed or sales agreement. When the Company finances the sale of repossessed assets to a buyer, the Company assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the repossessed asset is derecognized and the gain or loss on sale is recorded upon transfer of control of the property to the buyer. In determining the gain on sale or loss on the sale, the Company adjust the transaction price and related gain or loss on sale if a significant financing component is present.
Non-interest income outside of the scope of Revenue from Contracts with Customers, Topic 606 is recognized on the accrual basis of accounting as services are provided or as transactions occur. Non-interest income outside of the scope of Topic 606 includes mortgage banking activities, loan fees and service charges, net gains (losses) on investment securities, and other, which is primarily made up of BOLI related income.
Earnings Per Share – Basic earnings per common share is net income or loss divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable during the period, consisting of stock options outstanding under the Company’s stock incentive plans that have an exercise price that is less than the Company’s stock price on the reporting date.
18


Loss Contingencies—Loss contingencies, including claims and legal actions arising in the normal course of business, are recorded as liabilities when the likelihood of loss is probable and an amount of loss can be reasonably estimated.
Off-Balance-Sheet Financial Instruments—In the ordinary course of business, the Bank has entered into off-balance sheet financial instruments consisting of commitments to extend credit and commitments under lines of credit arrangements, issued to meet customer financial needs. Such financial instruments are recorded in the financial statements when they become payable.
Derivatives--Rate-lock Commitments and Forward Sale Agreements —The Company enters into commitments to originate loans, whereby the interest rate on the loan is determined prior to funding (rate-lock commitment). Rate-lock commitments on mortgage loans held for sale are derivative instruments. If material, derivative instruments are carried on the consolidated balance sheets at fair value, and changes in the fair value thereof are recognized in the consolidated statements of operations. The Company originates single-family residential loans for sale, pursuant to programs primarily with the Federal Home Loan Mortgage Corporation (“FHLMC”) and other similar third parties. In connection with these programs, at the time the Company initially issues a loan commitment, it does not lock in a specific interest rate. At the time the interest rate is locked in by the borrower, the Company concurrently enters into a forward loan sale agreement with the prospective loan purchaser, at a specific price, in order to manage the interest rate risk inherent to the rate-lock commitment. The forward sale agreement also meets the definition of a derivative instrument. Any change in the fair value of the loan commitment after the borrower locks in the interest rate is substantially offset by the corresponding change in the fair value of the forward loan sale agreement related to such loan. The period from the time the borrower locks in the interest rate, to the time the Company funds the loan and sells the loan to a third party varies, and could be up to 90 days. The fair value of each instrument will rise and fall in response to changes in market interest rates, subsequent to the dates the interest rate locks and forward sale agreements are entered into. In the event that interest rates rise after the Company enters into an interest rate lock, the fair value of the loan commitment will decline. However, the fair value of the forward loan sale agreement related to such loan commitment should increase by substantially the same amount, effectively eliminating the Company’s interest rate and price risks.
At March 31, 2024, the Company had $2,437 of loan commitments outstanding related to loans being originated for sale, all of which were subject to interest rate lock commitments and corresponding forward loan sale agreements, as described above. The net fair values of outstanding interest rate-lock commitments and forward sale agreements were considered immaterial to the Company’s consolidated financial statements as of March 31, 2024.
Other Comprehensive Income —Accumulated and other comprehensive income or loss is comprised of the unrealized and realized gains and losses on securities available for sale, net of tax, and is shown on the accompanying consolidated statements of comprehensive income.
Operating Segments—While our executive officers monitor the revenue streams of the various banking products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Accordingly, all of the Company’s banking operations are considered by management to be aggregated in one reportable operating segment.
Reclassifications – Certain items previously reported were reclassified for consistency with the current presentation.
Recent Accounting Pronouncements—The Financial Accounting Standards Board (FASB) issues Accounting Standards Updates (ASUs) to the FASB Accounting Standards Codification (ASC). This section provides a summary description of recent ASUs that have potentially significant implications (elected or required) within the consolidated financial statements, or that management expects may have a significant impact on financial statements issued in the near future.
Recent Accounting Pronouncements—Adopted
ASU 2020-04 and ASU 2021-01, Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting--These ASUs provide optional and temporary relief, in the form of optional expedients and exceptions, for applying GAAP to modifications of contacts, hedging relationships and other transactions affected by reference rate (e.g. LIBOR) reforms. ASU 2020-04 and ASU 2021-01 was effective immediately upon issuance and will remain in effect through December 31, 2024. The Company utilizes LIBOR, among other indexes, as a reference rate for underwriting variable rate loans. Reference rate reform has not had, nor does the Company expect it to have, a material effect on the Company’s consolidated balance sheet, operations or cash flows.
Recently Issued, But Not Yet Effective Accounting Pronouncements
ASU 2023-07, Segment Reporting (Topic 820): Improvements to Reportable Segment Disclosures—This ASU, issued in November 2023, is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. This update is effective for fiscal years beginning after December 15, 2023, and interim
19


periods with fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact and applicability of these new disclosure requirements. As all new requirements are disclosure-related only, adoption will have no material impact on the Company’s financial condition or results of operations.
ASU 2023-09, Income Taxes – Improvements to Income Tax Disclosures – This ASU, issued in December 2023, is effective for fiscal years beginning after December 15, 2024 and interim periods therein, with early adoption permitted. This ASU requires expanded income tax-related note disclosures. The Company is currently evaluating the impact of these new disclosure requirements. As all requirements are disclosure-related only, adoption will have no material impact on the Company’s financial condition or results of operations.
20



NOTE 2 – INVESTMENT SECURITIES
The amortized cost and fair value of securities available for sale and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income as of March 31, 2024 and December 31, 2023, respectively, were as follows:
Available for sale securitiesAmortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
March 31, 2024
U.S. government agency obligations$15,835 $62 $169 $15,728 
Mortgage-backed securities89,933  19,254 70,679 
Corporate debt securities47,164 29 5,415 41,778 
Asset-backed securities23,632 31 176 23,487 
Total available for sale securities$176,564 $122 $25,014 $151,672 
December 31, 2023
U.S. government agency obligations$16,655 $77 $156 $16,576 
Mortgage-backed securities91,091  17,611 73,480 
Corporate debt securities47,158 6 5,990 41,174 
Asset-backed securities24,840 12 339 24,513 
Total available for sale securities$179,744 $95 $24,096 $155,743 
The amortized cost and fair value of securities held to maturity and the corresponding amounts of gross unrecognized gains and losses as of March 31, 2024 and December 31, 2023, respectively, were as follows:
Held to maturity securitiesAmortized
Cost
Gross
Unrecognized
Gains
Gross
Unrecognized
Losses
Estimated
Fair Value
March 31, 2024
Obligations of states and political subdivisions$500 $ $34 $466 
Mortgage-backed securities89,442 4 19,642 69,804 
Total held to maturity securities$89,942 $4 $19,676 $70,270 
December 31, 2023
Obligations of states and political subdivisions$600 $ $35