CZFS — what changed in the latest 10-Q
A section-by-section comparison of CZFS's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-07 vs the prior 10-Q · 2025-11-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +27 | −49 | ~52 | 38 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | +3 | −2 | ~9 | 12 |
| Legal proceedings | Text added/removed | +3 | −2 | ~8 | 11 |
| Risk factors | Text added/removed | +3 | −2 | ~8 | 10 |
| Other information | Text added/removed | 0 | 0 | ~7 | 9 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-07
Net interest income as a percentage of average interest-earning assets
Ratio of interest-earning assets to interest-bearing liabilities
Tax exempt revenue is shown on a tax-equivalent basis (non-GAAP) for proper comparison using a federal statutory income tax rate of 21% for the three months ended March 31, 2026 and 2025. For purposes of the comparison, as well as the discussion that follows, this presentation facilitates performanc…
Tax equivalent net interest income increased from $23,250,000 for the three month period ended March 31, 2025 to $26,483,000 for the three month period ended March 31, 2026, an increase of $3,233,000. This increase was primarily due to rate. Asset yields increased 14 basis points (bps), increasing i…
For the three month period ended March 31, 2026, we recorded a provision for credit losses of $500,000, which represents a decrease of $125,000 from the $625,000 provision recorded in the corresponding three months of last year. The decrease in the provision is due to the updated loss driver analysi…
Text removed vs the prior filing · source: 10-Q · 2025-11-06
Net income for the three months ended September 30, 2025 was $10,005,000 compared to net income of $7,536,000 in the comparable 2024 period, an increase of $2,469,000. Basic earnings per share for the three months ended September 30, 2025 were $2.09, compared to $1.57 for last year’s comparable peri…
Tax exempt interest revenue is shown on a tax equivalent basis for proper comparison using a statutory federal income tax rate of 21%.
Income on non-accrual loans is accounted for on a cash basis, and the loan balances are included in interest-earning assets.
Interest rate spread represents the difference between the average rate earned on interest-earning assets and the average rate paid on interest-bearing liabilities.
Tax exempt revenue is shown on a tax-equivalent basis (non-GAAP) for proper comparison using a federal statutory income tax rate of 21% for the three and nine months ended September 30, 2025 and 2024. For purposes of the comparison, as well as the discussion that follows, this presentation facilitat…
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-05-07
On February 18, 2026, the Company announced that the Board of Directors authorized the Company to repurchase up to an additional 200,000 shares at an aggregate purchase price not to exceed $15.0 million over a period of 36 months from April 22, 2026 and ending on April 22, 2029. Under the stock repu…
Additionally, during the quarter ended March 31, 2026, certain employees surrendered shares of common stock owned by them to satisfy their statutory minimum U.S. federal and state tax obligations associated with the vesting of shares of restricted common stock issued under the Amended and Restated F…
During the three months ended March 31, 2026, none of the Company’s directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of the Company’s securities that was intended to satisfy the affirmative defense conditions of SEC Rule 10b5-1(…
Text removed vs the prior filing · source: 10-Q · 2025-11-06
Additionally, during the quarter ended September 30, 2025, certain employees surrendered shares of common stock owned by them to satisfy their statutory minimum U.S. federal and state tax obligations associated with the vesting of shares of restricted common stock issued under the Amended and Restat…
During the three months ended September 30, 2025, none of the Company’s directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of the Company’s securities that was intended to satisfy the affirmative defense conditions of SEC Rule 10b…
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-05-07
On February 18, 2026, the Company announced that the Board of Directors authorized the Company to repurchase up to an additional 200,000 shares at an aggregate purchase price not to exceed $15.0 million over a period of 36 months from April 22, 2026 and ending on April 22, 2029. Under the stock repu…
Additionally, during the quarter ended March 31, 2026, certain employees surrendered shares of common stock owned by them to satisfy their statutory minimum U.S. federal and state tax obligations associated with the vesting of shares of restricted common stock issued under the Amended and Restated F…
During the three months ended March 31, 2026, none of the Company’s directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of the Company’s securities that was intended to satisfy the affirmative defense conditions of SEC Rule 10b5-1(…
Text removed vs the prior filing · source: 10-Q · 2025-11-06
Additionally, during the quarter ended September 30, 2025, certain employees surrendered shares of common stock owned by them to satisfy their statutory minimum U.S. federal and state tax obligations associated with the vesting of shares of restricted common stock issued under the Amended and Restat…
During the three months ended September 30, 2025, none of the Company’s directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of the Company’s securities that was intended to satisfy the affirmative defense conditions of SEC Rule 10b…
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-05-07
On February 18, 2026, the Company announced that the Board of Directors authorized the Company to repurchase up to an additional 200,000 shares at an aggregate purchase price not to exceed $15.0 million over a period of 36 months from April 22, 2026 and ending on April 22, 2029. Under the stock repu…
Additionally, during the quarter ended March 31, 2026, certain employees surrendered shares of common stock owned by them to satisfy their statutory minimum U.S. federal and state tax obligations associated with the vesting of shares of restricted common stock issued under the Amended and Restated F…
During the three months ended March 31, 2026, none of the Company’s directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of the Company’s securities that was intended to satisfy the affirmative defense conditions of SEC Rule 10b5-1(…
Text removed vs the prior filing · source: 10-Q · 2025-11-06
Additionally, during the quarter ended September 30, 2025, certain employees surrendered shares of common stock owned by them to satisfy their statutory minimum U.S. federal and state tax obligations associated with the vesting of shares of restricted common stock issued under the Amended and Restat…
During the three months ended September 30, 2025, none of the Company’s directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of the Company’s securities that was intended to satisfy the affirmative defense conditions of SEC Rule 10b…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice