Citizens Community Bancorp Inc.
For the period ended Jun 30, 2026. Filed Aug 6, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 6, 2026
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-06.
0001367859-26-000034
Item 1A. Risk FactorsUnregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety DisclosuresCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-06.
0001367859-26-000050
Item 1A. Risk FactorsUnregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety DisclosuresThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 11 previous paragraphs and 13 current paragraphs.
10 unchanged; 1 reworded; 2 added; 0 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 1 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (2)
Current report
There have been no material changes from the risk factors as previously disclosed in “Risk Factors” in Item 1A of our 2025 10-K, except as described below:
Current report
Our business could be materially and adversely affected due to the actions of activist stockholders. On June 4, 2026, a group of stockholders led by Andrew Schornack (the “Reporting Persons”) filed a Schedule 13D reporting beneficial ownership of approximately 9.1% of our outstanding common stock (as amended through Amendment No. 3 filed July 29, 2026). On July 27, 2026, the Reporting Persons asked for a seat on the Company’s Board of Directors, which request has been taken under advisement and will be considered by the Governance and Nomination Committee of the Board of Directors (the “Committee”) at a forthcoming Committee meeting. Assuming the Committee determines to recommend the creation of a vacancy, the Committee would evaluate such nominee (once he or she has been identified by the Reporting Persons) in accordance with the Company’s Corporate Governance Guidelines. There can be no assurance that the Committee will recommend, or that the Board will approve, the appointment of the Reporting Persons’ nominee to the Board. Any escalation by this group into a proxy contest or other adversarial action could increase costs, divert management attention, create uncertainty, and materially harm our business, stock price, and ability to consummate value-maximizing transactions.
Reworded paragraphs (1)
Previous wording
On July 24, 2025, the Board of Directors authorized a stock repurchase program of 5% of the outstanding shares on that date, or 499,000 shares, in open market or private transactions. The timing and amount of any share repurchases under the new authorization will be determined by management based on market conditions and other considerations. The new share repurchase authorization does not obligate the Company to repurchase any shares of its common stock. During the quarter ended March 31, 2026, no shares were repurchased under this program. As of March 31, 2026, 113,748 shares remain available for repurchase under the 2025 share repurchase program.
Current wording
On July 24, 2025, the Board of Directors authorized a stock repurchase program of 5% of the outstanding shares on that date, or 499,000 shares, in open market or private transactions. During the quarter ended June 30, 2026, approximately 881 shares were repurchased under this program. This stock repurchase authorization expired on July 23, 2026.