# Schornack Andrew David — capital_return/recapitalization [announced]
Source: SEC API (secapi.ai) · situation sit_d109d7c690a55ebcd101 · retrieved 2026-08-11T15:50:21.652Z

## Overview
Citizens Community Bancorp Inc. is a federally chartered savings institution headquartered in Eau Claire, Wisconsin, with a community banking platform offering deposit-gathering capabilities and disciplined credit management in Wisconsin and Minnesota markets.

A group of reporting persons led by Andrew Schornack, holding 878,472.49 shares (9.1% of Citizens Community Bancorp Inc.) as of July 7, 2026, disclosed on July 27, 2026 that they discussed with the issuer's management potential changes to the board of directors and the addition of one or more directors nominated by the reporting persons. The reporting persons, experienced community banking operators, believe the shares are undervalued relative to the issuer's intrinsic value and intend to continue dialogue with management and the board regarding board composition and other matters, including the possibility of extraordinary transactions such as mergers or strategic transactions.

## Terms
- Counterparty: Citizens Community Bancorp Inc. · Stake: 9.1%

## Key dates
- Announced 2026-07-29

## Timeline
- 2026-07-29 · SCHEDULE 13D/A (0001104659-26-087976): SCHEDULE 13D/A - Schornack Andrew David — *Citizens Community Bancorp Inc. is a federally chartered savings institution headquartered in Eau Claire, Wisconsin, with a community banking platform offering deposit-gathering capabilities and disciplined credit management in Wisconsin and Minnesota markets.* A group of reporting persons led by Andrew Schornack, holding 878,472.49 shares (9.1% of Citizens Community Bancorp Inc.) as of July 7, 2026, disclosed on July 27, 2026 that they discussed with the issuer's management potential changes to the board of directors and the addition of one or more directors nominated by the reporting persons. The reporting persons, experienced community banking operators, believe the shares are undervalued relative to the issuer's intrinsic value and intend to continue dialogue with management and the board regarding board composition and other matters, including the possibility of extraordinary transactions such as mergers or strategic transactions.
  https://www.sec.gov/Archives/edgar/data/2128672/0001104659-26-087976.txt

## Citations
- 0001104659-26-087976 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926087976