Hank's Small Banks

[10 bagger]

Citizens National Bank..

CIWV.OB Citizens Financial Corp. $6.60 02/27/09

213 Third Street
Elkins, WV 26241

Phone: [phone]
Fax: [phone]
Web Site: http://www.cnbelkins.com

Industry: Regional - Mid-Atlantic Banks
Full Time Employees: 88

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SMALL Bank With increasing earnings...
Three Months Ended Nine Months Ended
September 30, September 30,
2008 2007 2008 2007
Basic and fully diluted earnings per common share
$ 0.28 $ 0.23 $ 0.73 $ 0.63
Weighted average shares outstanding
1,829,504 1,829,504 1,829,504 1,829,504
Dividends per common share
$ 0.12 $ 0.12 $ 0.36 $ 0.36
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BUSINESS SUMMARY:

Citizens Financial Corp. operates as the holding company for Citizens National Bank of Elkins, which provides retail and commercial banking services in central and eastern West Virginia. It primarily engages in generating deposits and originating loans.

The company’s deposit products include demand deposits, savings, money market, and time deposits. Its lending portfolio comprises commercial, financial, and agricultural loans; real estate construction and mortgage loans; and installment loans. The company also provides letters of credit; safe deposit and wire transfer services; automated teller machine, telebanking, and Internet banking services; and brokerage and financial planning services, as well as fixed rate residential mortgages. As of December 31, 2007, it operated six branch offices. The company was founded in 1923 and is headquartered in Elkins, West Virginia.

http://www.cnbelkins.com/
http://www.cnbelkins.com/investrelate.cfm

Economic Characteristics of Citizens’ Marketplace...

Citizens serves an area of West Virginia including the counties of Randolph, Tucker, Grant and Pocahontas. This market is a largely rural, mountainous region covering approximately 2,876 square miles with a civilian labor force of 25,520.

The economy of this area typically does not experience highs or lows to the same degree as the national economy and is generally less prosperous than the nation as a whole. Major industries in the area include lumber and wood products, tourism, and poultry operations.

Other major sources of employment include public schools, hospitals and other health care providers and various forms of local and state governmental services. As of December,2007, the unemployment rate in this market was 5.9% compared to 4.4% for West Virginia and 4.8% nationwide. Average annual wages in the area approximate $28,869 which is below both state and national levels.

Ongoing roadway improvements are helping to improve access to and transportation within the area and are expected to provide long-term economic benefits. However, the local economy is not expected to undergo significant changes in the short-term...

SEC Filings:
http://finance.yahoo.com/q/sec?s=ciwv.ob

For the quarterly period ended September 30, 2008 Commission file number 2-96144
http://www.cnbelkins.com/10Q-0908.pdf

For the quarterly period ended June 30, 2008 Commission file number 2-96144
http://www.cnbelkins.com/10Q-0608.pdf

For the quarterly period ended March 31, 2008 Commission file number 2-96144
http://www.cnbelkins.com/10Q-0308.pdf

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31,2007
http://www.cnbelkins.com/10K-2007.pdf