| 1 | NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON (Entities Only) Citizens Community Bancorp, Inc. Employee Stock Ownership Plan IRS I.D. No. 20-5120010 | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* | (a) (b) |
| 3 | SEC USE ONLY | |
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION Not applicable | |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | |
| 5 | SOLE VOTING POWER 529,454 |
| 6 | SHARED VOTING POWER 39,721 |
| 7 | SOLE DISPOSITIVE POWER 569,175 |
| 8 | SHARED DISPOSITIVE POWER 0 |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 569,175 |
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.0% |
| 12 | TYPE OF REPORTING PERSON EP |
| ITEM 1(a) | Name of Issuer: Citizens Community Bancorp, Inc. (the "Corporation") |
| ITEM 1(b) | Address of Issuer's Principal Executive Offices: 2174 EastRidge Center, Eau Claire, Wisconsin 54701 |
| ITEM 2(a) | Names of Persons Filing: Citizens Community Bancorp, Inc. Employee Stock Ownership Plan (the "ESOP"). |
| ITEM 2(b) | Address of Principal Business Office: The business address of the ESOP is: 2174 EastRidge Center, Eau Claire, Wisconsin 54701 |
| ITEM 2(c) | Citizenship: Not Applicable. |
| ITEM 2(d) | Title of Class of Securities: Common stock, par value $.01 per share (the "Common Stock"). |
| ITEM 2(e) | CUSIP Number: 174 903 104 |
| ITEM 3 | If this statement is filed pursuant to Section 240.13d-2(b) or (c), check whether the
person filing is: | ||
| (a) | [ ] | Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); | |
| (b) | [ ] | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); | |
| (c) | [ ] | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); | |
| (d) | [ ] | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); | |
| (e) | [ ] | An investment adviser in accordance with Section 240.13d-1(b)(1)(ii)(E); | |
| (f) | [ x ] | An employee benefit plan or endowment fund in accordance with Section 240.13d-1(b)(1)(ii)(F); | |
| (g) | [ ] | A parent holding company or control person in accordance with Section 240.13d-1(b)(1)(ii)(G); | |
| (h) | [ ] | A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); | |
| (i) | [ ] | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3) | |
| (j) | [ ] | Group, in accordance with Section 240.13d-1(b)(1)(ii)(J). | |
| ITEM 4 | Ownership: The ESOP holds an aggregate of 569,175 shares of Common Stock (8.0% of the outstanding shares). The ESOP has sole voting power with respect to shares held by it which have not been allocated to participant accounts, shared voting power with respect to shares held by it which have been allocated to participant accounts and sole dispositive power with respect to all shares (allocated and unallocated) held by the ESOP. The Trustee may be deemed to beneficially own the 569,175 shares held by the ESOP. However, the Trustee expressly disclaims beneficial ownership of all of such shares. Other than the shares held by the ESOP, the Trustee does not beneficially own any shares of Common Stock. Pursuant to the ESOP, participants in the ESOP are entitled to instruct the Trustee as to the voting of the shares allocated to their ESOP accounts. On each issue with respect to which shareholders are entitled to vote, the Trustee is required to vote the shares held by the ESOP which have not been allocated to participant accounts in the manner directed under the ESOP. |
| ITEM 5. | Ownership of Five Percent or Less of a Class: Not Applicable. |
| ITEM 6. | Ownership of More Than Five Percent on Behalf of Another Person: Not Applicable. |
| ITEM 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported
on by the Parent Holding Company: Not Applicable. |
| ITEM 8. | Identification and Classification of Members of the Group: Not Applicable. |
| ITEM 9. | Notice of Dissolution of Group: Not Applicable. |
| ITEM 10 | Certifications By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Signature: After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. |
| Date: February 13, 2007 | CITIZENS COMMUNITY BANCORP, INC. EMPLOYEE STOCK OWNERSHIP PLAN | ||
| By: | /s/Linda Shultz First Bankers Trust Services, Inc., as Trustee | ||
| Name: Title: |
Linda Shultz Trust Officer | ||
| Date: February 13, 2007 | FIRST BANKERS TRUST SERVICES, INC. | ||
| By: | /s/Linda Shultz | ||
| Name: Title: |
Linda Shultz Trust Officer | ||
| By: | /s/ Linda Shultz Name: Linda Shultz Title: Trust Officer |
| By: | /s/ Linda Shultz First Bankers Trust Services, Inc., as Trustee Name: Linda Shultz Title: Trust Officer |