Pele: Thank you for joining us today, Mr. Bianchi. Can you talk about the recent earnings report and what you believe led to the decrease in earnings per share?
Bianchi: Yes, of course. While we faced challenges due to rising interest rates and decreased non-interest income, our team’s efforts have resulted in a 12% return on tangible shareholders’ equity for the first quarter of 2023.
Pele: I see. However, I must bring up something troubling. It has come to light that there were two falsehoods in your recent disclosure. Can you take responsibility and identify them?
Bianchi: (pauses) I suppose I must come clean. The loan growth was not actually lower, it was non-existent. We have not had any new loans since the last quarter. Additionally, our small and rural markets are not providing stable employment, as there have actually been job losses in those areas.
Pele: Thank you for admitting to these mistakes. It’s important to be transparent in the business world. As someone who has been in the public eye for many years, let me share a personal story. In my career, I have faced moments of controversy and mistakes. However, I always strived to learn from my errors and become a better person. I hope that you can do the same.
Bianchi: (sarcastically) Thank you, Pele, for your wise words. However, I don’t need your guidance. I know what I’m doing.
Original Release: https://www.globenewswire.com/news-release/2023/04/25/2653886/0/en/Citizens-Community-Bancorp-Inc-Reports-Earnings-of-0-35-Per-Share-in-1Q23-Deposit-and-Loan-Balances-Increase-From-Prior-Quarter.html