DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS
In addition to historical information, this report contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on management’s beliefs, plans, expectations, assumptions and on information currently available to management. The words “may,” “should,” “expect,” “anticipate,” “intend,” “plan,” “continue,” “believe,” “seek,” “estimate” and similar expressions used in this report that do not relate to historical facts are intended to identify forward-looking statements. These statements appear in a number of places in this report, including, but not limited to, statements found in Item 1, “Business,” and in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Citizens Holding Company (the “Company”) notes that a variety of factors could cause its actual results or experience to differ materially from the anticipated results or other expectations described or implied by such forward-looking statements. The risks and uncertainties that may affect the operation, performance, development and results of the business of the Company and the Company’s wholly-owned subsidiary, The Citizens Bank of Philadelphia, Mississippi (the “Bank”), include, but are not limited to, the following:
| ● | expectations about the movement of interest rates, including actions that may be taken by the Federal Reserve Board in response to changing economic conditions; |
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| ● | adverse changes in asset quality and loan demand, and the potential insufficiency of the ACL and our ability to foreclose on delinquent mortgages; |
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| ● | the risk of adverse changes in business conditions in the banking industry generally and in the specific markets in which the Company operates; |
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| ● | natural disasters, civil unrest, epidemics and other catastrophic events in the Company’s geographic area; |
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| ● | the impact of increasing inflation rates on the general economic, market or business conditions; |
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| ● | extensive regulation, changes in the legislative and regulatory environment that negatively impact the Company and the Bank through increased operating expenses and the potential for regulatory enforcement actions, claims, or litigation; |
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| ● | increased competition from other financial institutions, in particular with respect to deposits, and the risk of failure to achieve our business strategies; |
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| ● | events affecting our business operations, including the effectiveness of our risk management framework, the accuracy of our estimates, our reliance on third party vendors, the risk of security breaches and potential fraud, and the impact of technological advances; |
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| ● | climate change and societal responses to climate change could adversely affect the Company’s business and results of operations, including indirectly through impact to its customers; |
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| ● | our ability to maintain sufficient capital and to raise additional capital when needed; |
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| ● | our ability to maintain adequate liquidity to conduct business and meet our obligations; |
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| ● | events affecting our ability to compete effectively and achieve our strategies, such as the risk of failure to achieve the revenue increases expected to result from our acquisitions, branch additions and in new product and service offerings, our ability to control expenses and our ability to attract and retain skilled people; |
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| ● | events that adversely affect our reputation, and the resulting potential adverse impact on our business operations; |
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| ● | increased cybersecurity risk, including network breaches, business disruptions or financial losses; |
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| ● | risks arising from owning our common stock, such as the volatility and trading volume, our ability to pay dividends, the regulatory limitations on stock ownership, and provisions in our governing documents that may make it more difficult for another party to obtain control of us; |
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| ● | risks associated with national and global events, such as the conflict between Russia and Ukraine and supply chain disruptions; |
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| ● | risks associated with the failures of Silicon Valley Bank, Signature Bank and First Republic Bank, which have resulted in significant market volatility and less confidence in depository institutions; |
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| ● | internal and external factors affecting net interest margin; and |
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| ● | other risks detailed from time-to-time in the Company’s filings with the Securities and Exchange Commission. |
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The Company undertakes no obligation to update or revise any forward-looking statements subsequent to the date on which they are made.
