CITIZENS COMMUNITY BANCORP, INC. (NASDAQ:CZWI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Election of Mr. Moll to the Board of Directors

On December 20, 2017, the Board of Directors (the “Board”) of Citizens Community Bancorp, Inc., a Maryland corporation (the “Company”), elected James D. Moll to the Board of Directors as a Class I Director, effective January 1, 2018, to fill the vacancy on the Board created by the previously disclosed resignation of Timothy A. Nettesheim. No determination has been made concerning which committees Mr. Moll will serve on as a member of the Board. As a Class I Director, Mr. Moll will serve until the Company’s 2019 annual shareholders meeting.

Mr. Moll served as the Chief Financial Officer of Wells Financial Corp. (Wells) and its subsidiary, Wells Federal Bank from 1995 to 2016 and served as the Chief Executive Officer and President of Wells from 2015 until August of 2017 when the sale of Wells to the Company was completed. Mr. Moll also served on the board of directors of Wells from 2013 until the completion of the sale of the company in 2017. Mr. Moll holds a B.A. in Economics from St. John’s University, Collegeville, MN and a B.S. in Accounting from Minnesota State University, Mankato, MN. Mr. Moll is a Certified Public Accountant.

There is no arrangement or understanding between Mr. Moll and any other person to which he was selected as a director. Mr. Moll will receive compensation for his service on the Board in accordance with the Company’s standard compensatory arrangement for directors. A description of the Company’s director compensation can be found under the caption “Director Compensation” in the Company’s most recent definitive proxy statement on Schedule 14A, filed with the Securities and Exchange Commission on January 25, 2017. Mr. Moll’s compensation will be prorated to reflect the commencement date of his service on the Board.

About CITIZENS COMMUNITY BANCORP, INC. (NASDAQ:CZWI)

Citizens Community Bancorp, Inc. is a bank holding company of Citizens Community Federal N.A. (the Bank). The Company is engaged in consumer, small commercial and agricultural banking activities, through the Bank. As of September 30, 2015, it had approximately $460 million in deposits. Through all of its branch locations, in Wisconsin, Minnesota and Michigan, the Bank provides a range of commercial and consumer banking products and services to customers, including online and mobile banking options. It offers a range of loans, such as commercial loans, agricultural loans and residential mortgages. Its Investment portfolio consists of securities available for sale and securities held to maturity. Its primary sources of funds are deposits; amortization, prepayments and maturities of outstanding loans; other short-term investments, and funds provided from operations. As of September 30, 2015, its total gross outstanding loans before net deferred loan costs were approximately $448,100.