<?xml version="1.0" ?><!--XBRL Document Created with Wdesk from Workiva--><!--Copyright 2020 Workiva--><!--r:713dbde1-e70c-4337-a381-26614bd126a8,g:0d58c261-1ff0-4c96-ba11-35800cf038d1,d:02b1bdb58bbb407bac138251ab5b921b--><html xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns="http://www.w3.org/1999/xhtml" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:dei="http://xbrl.sec.gov/dei/2019-01-31" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xml:lang="en-US"><head><meta http-equiv="Content-Type" content="text/html"/>


<title>czwi-20200812</title></head><body><div style="display:none"><ix:header><ix:hidden><ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" name="dei:EntityCentralIndexKey" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl80L2ZyYWc6YThhYTY4YzRhOWY4NGYyZWE1NmYyY2UyZGE3YzE5NmMvdGFibGU6OGI4ZGRlMDlmMzBjNDQ4OGFiZGFhMmJmYjZiMjg4MzAvdGFibGVyYW5nZTo4YjhkZGUwOWYzMGM0NDg4YWJkYWEyYmZiNmIyODgzMF8xLTEtMS0xLTA_1692c255-0197-4eb2-ada4-c1db30190087">0001367859</ix:nonNumeric><ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" name="dei:AmendmentFlag" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl80L2ZyYWc6YThhYTY4YzRhOWY4NGYyZWE1NmYyY2UyZGE3YzE5NmMvdGFibGU6OGI4ZGRlMDlmMzBjNDQ4OGFiZGFhMmJmYjZiMjg4MzAvdGFibGVyYW5nZTo4YjhkZGUwOWYzMGM0NDg4YWJkYWEyYmZiNmIyODgzMF8yLTEtMS0xLTA_19c2d4a5-ec46-4668-9f55-462dced30dd5">false</ix:nonNumeric></ix:hidden><ix:references xml:lang="en-US"><link:schemaRef xlink:type="simple" xlink:href="czwi-20200812.xsd"></link:schemaRef></ix:references><ix:resources><xbrli:context id="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727"><xbrli:entity><xbrli:identifier scheme="http://www.sec.gov/CIK">0001367859</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2020-07-27</xbrli:startDate><xbrli:endDate>2020-07-27</xbrli:endDate></xbrli:period></xbrli:context></ix:resources></ix:header></div><div id="i02b1bdb58bbb407bac138251ab5b921b_1"></div><div style="min-height:42.75pt;width:100%;"><div><span><br/></span></div></div><div style="text-align:center;"><span><br/></span></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">UNITED STATES SECURITIES AND EXCHANGE COMMISSION</span></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">WASHINGTON, DC 20549</span></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">________________</span></div><div><span><br/></span></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">FORM <ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" name="dei:DocumentType" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGV4dHJlZ2lvbjo4YTVmNjlhNTVkMjc0MTYwOGExMzdjMmU5NjgxNzBkMl83MjI2_c83d36d7-1799-44cb-9831-638f98b00257">8-K</ix:nonNumeric> </span></div><div><span><br/></span></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">CURRENT REPORT</span></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">PURSUANT TO SECTION 13 OR 15(d) OF THE</span></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">SECURITIES EXCHANGE ACT OF 1934</span></div><div><span><br/></span></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Date of Report (Date of earliest event reported):&#160;&#160;<ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" format="ixt:datemonthdayyearen" name="dei:DocumentPeriodEndDate" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGV4dHJlZ2lvbjo4YTVmNjlhNTVkMjc0MTYwOGExMzdjMmU5NjgxNzBkMl8yNDM_5671c881-f673-41a7-8c7f-fc42cae705b0">August 12, 2020</ix:nonNumeric> </span></div><div style="text-align:center;"><span><br/></span></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration: underline;"><ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" name="dei:EntityRegistrantName" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGV4dHJlZ2lvbjo4YTVmNjlhNTVkMjc0MTYwOGExMzdjMmU5NjgxNzBkMl83MjI3_edaa6b8d-0c0a-420e-a305-850e6809e92c">CITIZENS COMMUNITY BANCORP, INC.</ix:nonNumeric> </span></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">(Exact name of registrant as specified in its charter)</span></div><div style="text-align:center;"><span><br/></span></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;"><ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" format="ixt-sec:stateprovnameen" name="dei:EntityIncorporationStateCountryCode" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGV4dHJlZ2lvbjo4YTVmNjlhNTVkMjc0MTYwOGExMzdjMmU5NjgxNzBkMl83MjI5_03a51d64-d524-48b0-90cc-62b63ccb2746">Maryland</ix:nonNumeric> </span></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">(State or other jurisdiction of incorporation)</span></div><div style="margin-top:5pt;margin-bottom:5pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%;"><tr><td style="width:1.0%;"></td><td style="width:38.497%;"></td><td style="width:1.0%;"></td><td style="width:1.0%;"></td><td style="width:17.736%;"></td><td style="width:1.0%;"></td><td style="width:1.0%;"></td><td style="width:37.767%;"></td><td style="width:1.0%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" name="dei:EntityFileNumber" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGFibGU6YjRmNWFkYmE3MTgwNDI0ZmFiMDBjOTI5MDVlNjc5ODcvdGFibGVyYW5nZTpiNGY1YWRiYTcxODA0MjRmYWIwMGM5MjkwNWU2Nzk4N18wLTAtMS0xLTA_a88b0096-c23c-4539-ab78-6ed6377a2bff">001-33003</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" name="dei:EntityTaxIdentificationNumber" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGFibGU6YjRmNWFkYmE3MTgwNDI0ZmFiMDBjOTI5MDVlNjc5ODcvdGFibGVyYW5nZTpiNGY1YWRiYTcxODA0MjRmYWIwMGM5MjkwNWU2Nzk4N18wLTItMS0xLTA_4756ecd8-69c4-473f-b340-ab45f78ce7b2">20-5120010</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:top;border-top:2pt solid #000000;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">(Commission File Number)</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:top;border-top:2pt solid #000000;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">(I.R.S. Employer Identification No.)</span></td></tr></table></div><div style="text-align:center;"><span><br/></span></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"><ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" name="dei:EntityAddressAddressLine1" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGV4dHJlZ2lvbjo4YTVmNjlhNTVkMjc0MTYwOGExMzdjMmU5NjgxNzBkMl83MjI4_a90187de-a774-469d-8f9e-d31e86860d16">2174 EastRidge Center</ix:nonNumeric> </span></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"><ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" name="dei:EntityAddressCityOrTown" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGV4dHJlZ2lvbjo4YTVmNjlhNTVkMjc0MTYwOGExMzdjMmU5NjgxNzBkMl83MjIy_13dba731-9879-459b-ba68-879b2ea0f8d2">Eau Claire</ix:nonNumeric>, <ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" name="dei:EntityAddressStateOrProvince" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGV4dHJlZ2lvbjo4YTVmNjlhNTVkMjc0MTYwOGExMzdjMmU5NjgxNzBkMl83MjIz_a9e10253-fd41-4ee1-adb0-25613ce01d38">WI</ix:nonNumeric>  <ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" name="dei:EntityAddressPostalZipCode" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGV4dHJlZ2lvbjo4YTVmNjlhNTVkMjc0MTYwOGExMzdjMmU5NjgxNzBkMl83MjI0_e6ba54ad-ce3a-489b-a37e-93573edc03b0">54701</ix:nonNumeric> </span></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">(Address and Zip Code of principal executive offices)</span></div><div style="text-align:center;"><span><br/></span></div><div><span><br/></span></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;"><ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" name="dei:CityAreaCode" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGV4dHJlZ2lvbjo4YTVmNjlhNTVkMjc0MTYwOGExMzdjMmU5NjgxNzBkMl83MjMw_fcef42b1-b5b3-44dd-9ab1-834df6ca4833">715</ix:nonNumeric>-<ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" name="dei:LocalPhoneNumber" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGV4dHJlZ2lvbjo4YTVmNjlhNTVkMjc0MTYwOGExMzdjMmU5NjgxNzBkMl83MjI1_2d6c3bc7-826c-49bd-af9a-cbee6b0ec2dc">836-9994</ix:nonNumeric> </span></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">(Registrant's telephone number, including area code)</span></div><div><span><br/></span></div><div style="text-indent:45pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;">see</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> General Instruction A.2. below):</span></div><div style="text-indent:45pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#160;&#160;</span></div><div style="margin-top:5pt;margin-bottom:5pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.707%;"><tr><td style="width:1.0%;"></td><td style="width:9.143%;"></td><td style="width:1.0%;"></td><td style="width:1.0%;"></td><td style="width:1.665%;"></td><td style="width:1.0%;"></td><td style="width:1.0%;"></td><td style="width:83.192%;"></td><td style="width:1.0%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Arial Unicode MS',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" format="ixt-sec:boolballotbox" name="dei:WrittenCommunications" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGFibGU6ZTZkY2MyOGY1NDQwNDgyNWIzNzZkYzAwZDgxZThkNjYvdGFibGVyYW5nZTplNmRjYzI4ZjU0NDA0ODI1YjM3NmRjMDBkODFlOGQ2Nl8wLTAtMS0xLTA_397bdaa0-6ebd-402e-98b4-325419cce9cd">&#9744;</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Arial Unicode MS',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" format="ixt-sec:boolballotbox" name="dei:SolicitingMaterial" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGFibGU6ZTZkY2MyOGY1NDQwNDgyNWIzNzZkYzAwZDgxZThkNjYvdGFibGVyYW5nZTplNmRjYzI4ZjU0NDA0ODI1YjM3NmRjMDBkODFlOGQ2Nl8yLTAtMS0xLTA_31a6ad36-1844-4094-9dfc-1f1400ada5e6">&#9744;</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Arial Unicode MS',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" format="ixt-sec:boolballotbox" name="dei:PreCommencementTenderOffer" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGFibGU6ZTZkY2MyOGY1NDQwNDgyNWIzNzZkYzAwZDgxZThkNjYvdGFibGVyYW5nZTplNmRjYzI4ZjU0NDA0ODI1YjM3NmRjMDBkODFlOGQ2Nl80LTAtMS0xLTA_4b697a48-a2f0-4d03-81d2-ed036fb3a2bc">&#9744;</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Arial Unicode MS',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" format="ixt-sec:boolballotbox" name="dei:PreCommencementIssuerTenderOffer" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGFibGU6ZTZkY2MyOGY1NDQwNDgyNWIzNzZkYzAwZDgxZThkNjYvdGFibGVyYW5nZTplNmRjYzI4ZjU0NDA0ODI1YjM3NmRjMDBkODFlOGQ2Nl82LTAtMS0xLTA_59e5dfd3-39aa-45fd-b9b0-ef675209a746">&#9744;</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</span></td></tr></table></div><div style="margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">Securities registered or to be registered pursuant to Section 12(b) of the Act:</span></div><div style="text-align:center;margin-top:14pt;margin-bottom:5pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%;"><tr><td style="width:1.0%;"></td><td style="width:31.525%;"></td><td style="width:1.0%;"></td><td style="width:1.0%;"></td><td style="width:16.561%;"></td><td style="width:1.0%;"></td><td style="width:1.0%;"></td><td style="width:45.914%;"></td><td style="width:1.0%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Title of each class</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Trading Symbol(s)</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;border-right:1pt solid #000000;padding-right:1pt;"><span style="font-size:10pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Name of each exchange on which registered</span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGFibGU6ZWVhYjk2MDM5NDdiNDEwNzhkYWU4Y2JhMGIwNjFkNjIvdGFibGVyYW5nZTplZWFiOTYwMzk0N2I0MTA3OGRhZThjYmEwYjA2MWQ2Ml8xLTAtMS0xLTA_e4e442e1-e2fd-49d9-8934-1dd3c488353a">Common Stock, $.01 par value per share</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGFibGU6ZWVhYjk2MDM5NDdiNDEwNzhkYWU4Y2JhMGIwNjFkNjIvdGFibGVyYW5nZTplZWFiOTYwMzk0N2I0MTA3OGRhZThjYmEwYjA2MWQ2Ml8xLTEtMS0xLTA_cbc3bf12-b67c-44aa-a788-baa24c78c3cc">CZWI</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;border-right:1pt solid #000000;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGFibGU6ZWVhYjk2MDM5NDdiNDEwNzhkYWU4Y2JhMGIwNjFkNjIvdGFibGVyYW5nZTplZWFiOTYwMzk0N2I0MTA3OGRhZThjYmEwYjA2MWQ2Ml8xLTItMS0xLTA_987faad2-ba7d-49b2-b801-d7ef777776f0">NASDAQ Global Market</ix:nonNumeric></span></td></tr></table></div><div><span><br/></span></div><div style="text-indent:45pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933. (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter.)</span></div><div style="text-indent:45pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Emerging growth company  </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial Unicode MS',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"><ix:nonNumeric contextRef="i2688a7ad3f1847e39cf0ca34b111dc62_D20200727-20200727" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="id3VybDovL2RvY3MudjEvZG9jOjAyYjFiZGI1OGJiYjQwN2JhYzEzODI1MWFiNWI5MjFiL3NlYzowMmIxYmRiNThiYmI0MDdiYWMxMzgyNTFhYjViOTIxYl8xL2ZyYWc6OGE1ZjY5YTU1ZDI3NDE2MDhhMTM3YzJlOTY4MTcwZDIvdGV4dHJlZ2lvbjo4YTVmNjlhNTVkMjc0MTYwOGExMzdjMmU5NjgxNzBkMl83MjMx_ea493f5b-1575-4072-b320-34d3838ef5f9">&#9744;</ix:nonNumeric></span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> </span></div><div style="text-indent:45pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial Unicode MS',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#9744;</span></div><div style="position:relative;width:100%;height:42.75pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><span><br/></span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%;"><div><span><br/></span></div></div><div style="text-indent:45pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> </span></div><div style="text-align:center;"><span><br/></span></div><div><span><br/></span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:115%;text-decoration: underline;">Item 2.05</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:115%;">. </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:115%;text-decoration: underline;">Costs Associated with Exit or Disposal Activities</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:115%;">.</span></div><div><span><br/></span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:115%;">On August 12, 2020, Citizens Community Federal National Association (the &#8220;Bank&#8221;), wholly-owned subsidiary of Citizens Community Bancorp, Inc. (the &#8220;Company&#8221;), made the determination to close three branch operations located at Minnesota Lake, Minnesota, Eau Claire, Wisconsin, and Eleva, Wisconsin. The branch operations will be consolidated into nearby branch locations. </span></div><div><span><br/></span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:115%;">The branch closures are intended to improve efficiency, particularly given increased adoption of the Bank&#8217;s digital banking channels.  In addition, the branch closures are expected to result in approximately $400,000 of savings during 2021. Customers will continue to have access to in-person banking services at nearby branch locations.  The Company is assisting impacted employees to find new roles at other Bank locations.  The Company expects to complete these actions in November, 2020. </span></div><div><span><br/></span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:115%;"> At this time, the Company is unable to make a good faith determination of an estimate or range of estimates for charges that it will incur in connection with this action, or the amount or range of such charges that will result in future cash expenditures, required by paragraphs (b), (c) and (d) of Item 2.05 of Form 8-K. The Company expects the severance costs to be approximately $50 thousand in total. The Company will file an amendment to this report after it makes a determination of such estimate or range of estimates, if any.</span></div><div><span><br/></span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:115%;">Cautionary Statement Regarding Forward-Looking Statements</span></div><div><span><br/></span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:115%;">Certain statements contained in this Current Report on Form 8-K are considered &#8220;forward-looking statements&#8221; within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified using forward-looking words or phrases such as &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;could,&#8221; &#8220;expect,&#8221; &#8220;estimates,&#8221; &#8220;intend,&#8221; &#8220;may,&#8221; &#8220;preliminary,&#8221; &#8220;planned,&#8221; &#8220;potential,&#8221; &#8220;should,&#8221; &#8220;will,&#8221; &#8220;would&#8221; or the negative of those terms or other words of similar meaning. Such forward-looking statements in this report are inherently subject to many uncertainties arising in the operations and business environment of Citizens Community Bancorp, Inc. (the &#8220;Company&#8221;) and the Bank. These uncertainties include the conditions in the financial markets and economic conditions generally; adverse impacts to the Company or Bank arising from the COVID-19 pandemic; the possibility of a deterioration in the residential real estate markets; interest rate risk; lending risk; the sufficiency of loan allowances; changes in the fair value or ratings downgrades of our securities; competitive pressures among depository and other financial institutions; our ability to maintain our reputation; our ability to realize the benefits of net deferred tax assets; our ability to maintain or increase our market share; acts of terrorism and political or military actions by the United States or other governments; legislative or regulatory changes or actions, or significant litigation, adversely affecting the Company or the Bank; increases in FDIC insurance premiums or special assessments by the FDIC; disintermediation risk; our inability to obtain needed liquidity; risks related to the ongoing integration of F. &amp; M. Bancorp. of Tomah, Inc. into the Company&#8217;s operations; our ability to successfully execute our acquisition growth strategy; risks posed by acquisitions and other expansion opportunities, including difficulties and delays in integrating the acquired business operations or fully realizing the cost savings and other benefits; our ability to raise capital needed to fund growth or meet regulatory requirements; the possibility that our internal controls and procedures could fail or be circumvented; our ability to attract and retain key personnel; our ability to keep pace with technological change; cybersecurity risks; changes in federal or state tax laws; changes in accounting principles, policies or guidelines and their impact on financial performance; restrictions on our ability to pay dividends; and the potential volatility of our stock price. Stockholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are </span></div><div style="position:relative;width:100%;height:42.75pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><span><br/></span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%;"><div><span><br/></span></div></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:115%;">cautioned not to place undue reliance on such forward-looking statements. Such uncertainties and other risks that may affect the Company&#8217;s performance are discussed further in Part I, Item 1A, &#8220;Risk Factors,&#8221; in the Company&#8217;s Annual Report on Form 10-K, for the year ended December 31, 2019 filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) on March 10, 2020, the Company's Quarterly Reports on Form 10-Q, for the quarters ended March 31, 2020 and June 30, 2020, filed with the SEC on May 11, 2020 and August 6, 2020, respectively,  and the Company&#8217;s subsequent filings with the SEC. The Company undertakes no obligation to make any revisions to the forward-looking statements contained in this report or to update them to reflect events or circumstances occurring after the date of this report.</span></div><div style="position:relative;width:100%;height:42.75pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><span><br/></span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%;"><div><span><br/></span></div></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">SIGNATURE</span></div><div><span><br/></span></div><div style="text-indent:36pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</span></div><div style="text-align:center;margin-top:5pt;margin-bottom:5pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:512.25pt;"><tr><td style="width:1.0pt;"></td><td style="width:184.75pt;"></td><td style="width:1.0pt;"></td><td style="width:1.0pt;"></td><td style="width:75.25pt;"></td><td style="width:1.0pt;"></td><td style="width:1.0pt;"></td><td style="width:21.25pt;"></td><td style="width:1.0pt;"></td><td style="width:1.0pt;"></td><td style="width:10.00pt;"></td><td style="width:1.0pt;"></td><td style="width:1.0pt;"></td><td style="width:211.00pt;"></td><td style="width:1.0pt;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:8pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="9" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">CITIZENS COMMUNITY BANCORP, INC.</span></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="6" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="display:none;"></td><td colspan="6" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Date: August 17, 2020</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:8pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">By:</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:8pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">/s/ James S. Broucek</span></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:8pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><span style="font-size:8pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">James S. Broucek</span></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:8pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:8pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:middle;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Chief Financial Officer</span></td></tr></table></div><div><span><br/></span></div><div style="position:relative;width:100%;height:42.75pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><span><br/></span></div></div></div></body></html>
[{"type": "8-K", "sequence": "1", "filename": "czwi-20200812.htm", "description": "8-K", "secsgml_size_bytes": 48035}]
{"company-data": {"conformed-name": "Citizens Community Bancorp Inc.", "cik": "0001367859", "assigned-sic": "6035", "irs-number": "205120010", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-33003", "film-number": "201110142"}, "business-address": {"street1": "2174 EASTRIDGE CENTER", "city": "EAU CLAIRE", "state": "WI", "zip": "54701", "phone": "715 836 9994"}, "mail-address": {"street1": "2174 EASTRIDGE CENTER", "city": "EAU CLAIRE", "state": "WI", "zip": "54701"}}
czwi-20200812
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
________________
FORM
8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
August 12, 2020
CITIZENS COMMUNITY BANCORP, INC.
(Exact name of registrant as specified in its charter)
Maryland
(State or other jurisdiction of incorporation)
001-33003
20-5120010
(Commission File Number)
(I.R.S. Employer Identification No.)
2174 EastRidge Center
Eau Claire
,
WI
54701
(Address and Zip Code of principal executive offices)
715
-
836-9994
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered or to be registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $.01 par value per share
CZWI
NASDAQ Global Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933. (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter.)
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Item 2.05
.
Costs Associated with Exit or Disposal Activities
.
On August 12, 2020, Citizens Community Federal National Association (the "Bank"), wholly-owned subsidiary of Citizens Community Bancorp, Inc. (the "Company"), made the determination to close three branch operations located at Minnesota Lake, Minnesota, Eau Claire, Wisconsin, and Eleva, Wisconsin. The branch operations will be consolidated into nearby branch locations.
The branch closures are intended to improve efficiency, particularly given increased adoption of the Bank's digital banking channels.  In addition, the branch closures are expected to result in approximately $400,000 of savings during 2021. Customers will continue to have access to in-person banking services at nearby branch locations.  The Company is assisting impacted employees to find new roles at other Bank locations.  The Company expects to complete these actions in November, 2020.
At this time, the Company is unable to make a good faith determination of an estimate or range of estimates for charges that it will incur in connection with this action, or the amount or range of such charges that will result in future cash expenditures, required by paragraphs (b), (c) and (d) of Item 2.05 of Form 8-K. The Company expects the severance costs to be approximately $50 thousand in total. The Company will file an amendment to this report after it makes a determination of such estimate or range of estimates, if any.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this Current Report on Form 8-K are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified using forward-looking words or phrases such as "anticipate," "believe," "could," "expect," "estimates," "intend," "may," "preliminary," "planned," "potential," "should," "will," "would" or the negative of those terms or other words of similar meaning. Such forward-looking statements in this report are inherently subject to many uncertainties arising in the operations and business environment of Citizens Community Bancorp, Inc. (the "Company") and the Bank. These uncertainties include the conditions in the financial markets and economic conditions generally; adverse impacts to the Company or Bank arising from the COVID-19 pandemic; the possibility of a deterioration in the residential real estate markets; interest rate risk; lending risk; the sufficiency of loan allowances; changes in the fair value or ratings downgrades of our securities; competitive pressures among depository and other financial institutions; our ability to maintain our reputation; our ability to realize the benefits of net deferred tax assets; our ability to maintain or increase our market share; acts of terrorism and political or military actions by the United States or other governments; legislative or regulatory changes or actions, or significant litigation, adversely affecting the Company or the Bank; increases in FDIC insurance premiums or special assessments by the FDIC; disintermediation risk; our inability to obtain needed liquidity; risks related to the ongoing integration of F. & M. Bancorp. of Tomah, Inc. into the Company's operations; our ability to successfully execute our acquisition growth strategy; risks posed by acquisitions and other expansion opportunities, including difficulties and delays in integrating the acquired business operations or fully realizing the cost savings and other benefits; our ability to raise capital needed to fund growth or meet regulatory requirements; the possibility that our internal controls and procedures could fail or be circumvented; our ability to attract and retain key personnel; our ability to keep pace with technological change; cybersecurity risks; changes in federal or state tax laws; changes in accounting principles, policies or guidelines and their impact on financial performance; restrictions on our ability to pay dividends; and the potential volatility of our stock price. Stockholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are
cautioned not to place undue reliance on such forward-looking statements. Such uncertainties and other risks that may affect the Company's performance are discussed further in Part I, Item 1A, "Risk Factors," in the Company's Annual Report on Form 10-K, for the year ended December 31, 2019 filed with the Securities and Exchange Commission (the "SEC") on March 10, 2020, the Company's Quarterly Reports on Form 10-Q, for the quarters ended March 31, 2020 and June 30, 2020, filed with the SEC on May 11, 2020 and August 6, 2020, respectively,  and the Company's subsequent filings with the SEC. The Company undertakes no obligation to make any revisions to the forward-looking statements contained in this report or to update them to reflect events or circumstances occurring after the date of this report.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CITIZENS COMMUNITY BANCORP, INC.
Date: August 17, 2020
By:
/s/ James S. Broucek
James S. Broucek
Chief Financial Officer