Citizens Bancorp reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. The company reported net income for the quarter ended September 30, 2009 of $363,000 compared to net income of $176,000 for the same period in 2008, an increase of $187,000 or 106%. Earnings per diluted share for the three months ended September 30, 2009 and 2008 were $0.19 and $0.09, respectively. Net interest income was $3.7 million for the three month period ended September 30, 2009, a decrease of $297,000 or 7.5%, as compared to $4.0 million for the same period in 2008. The company's net interest margin declined from 4.78% in the three month period ended September 30, 2008 to 4.17% in the three month period ended September 30, 2009. Income before provision for income tax was $653,000 against $296,000 for the same period a year ago. Return on average assets was 0.40% against 0.20% for the same period a year ago. Return on average equity was 7.93% against 3.14% for the same period a year ago. Total interest income was $4.6 million compared to $5.5 million for the same period a year ago. The company reported net loss for the nine month period ended September 30, 2009 was $1.7 million or $0.89 per share compared to net income of $889,000 and or $0.46 per share for the same period in 2008. The decrease in net income for the nine months ended September 30, 2009 compared to 2008 was attributed primarily to an increase in the provision for loan losses along with valuation expenses related to real estate owned. For the nine month period ended September 30, 2009, net interest income was $10.9 million compared to $11.5 million in the same period in 2008. The company's net interest margin narrowed from 4.76% in the nine month period ended September 30, 2008 to 4.35% in the nine month period ended September 30, 2009. Loss before provision for income tax was $2,341,000 against income of $1,491,000 for the same period a year ago. Negative return on average assets was 0.60% against return on average assets of 0.34% for the same period a year ago. Annualized return on average equity was negative at 11.44% against annualized return on equity of 5.37% for the same period a year ago. Total interest income was $14.2 million compared to $16.7 million for the same period a year ago.

Citizens Bancorp announced that Gary Gall has been named as President/Chief Executive Officer of Citizens Bancorp and subsidiary, Citizens Bank of Northern California. Gall, whose career includes his former role as President/Chief Executive Officer of Western Sierra Bancorp, succeeds Judy Hess, who remains with the Bank as Chief Banking Officer working directly with Gall. Prior to his 13 years with Western Sierra he was President/CEO of Delta National Bank in Manteca for six years.

Citizens Bancorp reported financial results for the three month period ended March 31, 2008. Net income for the quarter ended March 31, 2008 was $393,000, a 35% decrease compared to $608,000 for the same period in 2007. The Company earned $0.21 and $0.33 per diluted share for the three months ended March 31, 2008 and 2007, respectively. The decrease in net income in first quarter 2008 compared to first quarter 2007 was attributed primarily to an increase in the provision for loan losses. During the three months ended March 31, 2008 the Company recorded a provision for loan losses of $650,000 compared to $50,000 during the same period in the prior year. Net interest income was $3.66 million for the three month period ended March 31, 2008, an increase of $182,000, or 5% as compared to $3.48 million for the same period in 2007. Total Interest Income for the period was $5,612,000 against $5,288,000 a year ago.