CITIZENS & NORTHERN CORP

Listed Company

CZNCCIK 0000810958NasdaqAcceleratedState Commercial BanksPennsylvaniaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$23.43M

Total Assets

$3.13B

Equity

$341.71M

Shares Out

17.91M

Op. Cash Flow

$32.00M

+ 13F Filer

Business

CITIZENS & NORTHERN CORP is a holding company that conducts community banking through its principal subsidiary, Citizens & Northern Bank. It offers deposit and loan products for personal and commercial customers, wealth management and trust services, insurance and investment products through CNFS, and foreclosure property management. Its key business units include C&N Bank, Citizens & Northern Investment Corporation, Bucktail Life Insurance Company and Northern Tier Holding LLC. The company serves markets in northern/Northcentral Pennsylvania, Southeastern and Southcentral Pennsylvania, a Southern New York office, and via internet and ATM channels.

Summary from filing dated 2025-03-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Taxable	121	110	99	79	75
Tax-exempt	2	2	2	2	2
Taxable	10	9	9	8	5
Tax-exempt	2	2	2	3	3
Other interest and dividend income	3	4	1	722,000	384,000
Total interest and dividend income	139	128	114	93	85
Interest on deposits	39	39	24	7	5
Interest on short-term borrowings	7,000	1	3	429,000	23,000
Interest on long-term borrowings - FHLB advances	6	7	4	896,000	399,000
Interest on senior notes, net	931,000	481,000	479,000	477,000	293,000
Interest on subordinated debt, net	483,000	926,000	922,000	1	1
Total interest expense	47	49	33	10	—
Net interest income	92	79	80	83	78
Provision for credit losses	6	2	186,000	7	4
Net interest income after provision for credit losses	86	77	80	76	74
Trust revenue	8	8	7	7	7
Brokerage and insurance revenue	2	2	2	2	2
Net gains from sale of loans	1	1	723,000	757,000	3
Increase in cash surrender value of life insurance	2	2	3	545,000	573,000
Other noninterest income	6	5	5	4	4
Realized gains on available-for-sale debt securities, net	38,000	0	−3	20,000	24,000
Total noninterest income	31	29	24	24	26
Salaries and employee benefits	47	45	44	42	38
Net occupancy and equipment expense	6	5	5	6	5
Data processing and telecommunications expense	9	8	8	7	6
Automated teller machine and interchange expense	2	2	2	2	1
Pennsylvania shares tax	2	2	2	2	2
Professional fees	3	2	2	2	2
Merger-related expenses	8	0	0	—	—
Other noninterest expense	12	10	11	8	8
Total noninterest expense	88	74	74	68	62
Income before income tax provision	29	32	30	32	38
Income tax provision	5	6	6	6	7
NET INCOME	23	26	24	27	31
EARNINGS PER COMMON SHARE - BASIC (in dollars per share)	1.46	1.69	1.57	1.71	1.92

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Noninterest-bearing	22	21	25	26	17
Interest-bearing	24	105	32	29	88
Total cash and due from banks	46	126	57	55	105
Available-for-sale debt securities, at fair value	507	402	416	498	518
Loans receivable	2,354	1,896	1,848	1,740	1,565
Allowance for credit losses	−31	−20	−19	−17	−14
Loans, net	2,323	1,876	1,829	1,723	1,551
Bank-owned life insurance	61	51	64	31	31
Accrued interest receivable	12	9	9	9	7
Bank premises and equipment, net	28	21	22	22	21
Foreclosed assets held for sale	189,000	181,000	478,000	275,000	684,000
Deferred tax asset, net	18	19	17	21	6
Goodwill	63	53	53	53	53
Core deposit intangibles, net	12	2	2	3	3
Other assets	63	51	47	40	33
TOTAL ASSETS	3,132	2,611	2,516	2,454	2,328
Noninterest-bearing	531	487	491	564	521
Interest-bearing	2,033	1,607	1,524	1,434	1,404
Total deposits	2,565	2,094	2,015	1,998	1,925
Short-term borrowings	29	2	34	80	2
Long-term borrowings - FHLB advances	121	165	138	62	28
Senior notes, net	15	15	15	15	15
Subordinated debt, net	25	25	25	25	33
Accrued interest and other liabilities	37	34	27	26	24
TOTAL LIABILITIES	2,791	2,335	2,253	2,205	2,026
Preferred stock, $1,000 par value; authorized 30,000 shares; $1,000 liquidation preference per share; no shares issued	—	—	—	—	0
Common stock, par value $1.00 per share; authorized 30,000,000 shares; issued 18,303,120 and outstanding 17,823,444 at December 31, 2025; issued 16,030,172 and outstanding 15,433,494 at December 31, 2024	18	16	16	16	16
Paid-in capital	186	144	144	144	144
Retained earnings	171	166	157	152	143
Treasury stock, at cost; 479,676 shares at December 31, 2025 and 596,678 shares at December 31, 2024	−11	−13	−17	−13	−7
Accumulated other comprehensive loss	−23	−37	−38	−50	5
TOTAL STOCKHOLDERS' EQUITY	342	275	262	249	301
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	3,132	2,611	2,516	2,454	2,328

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	23	26	24	27	31
Realized (gains) losses on available-for-sale debt securities, net	−38,000	0	3	−20,000	−24,000
Net amortization of securities	1	2	2	3	2
Depreciation and amortization of bank premises and equipment	2	2	2	2	2
Net accretion of purchase accounting adjustments	−91,000	−253,000	−288,000	−1	−2
Stock-based compensation	1	1	1	1	1
Deferred income taxes	3	−2	836,000	−400,000	−1
Decrease in fair value of servicing rights	258,000	164,000	200,000	−126,000	68,000
Origination of loans held for sale	−48	−38	−25	−26	−106
Proceeds from sales of loans held for sale	50	37	25	28	108
Increase in accrued interest receivable and other assets	−755,000	−3	−1	−4	186,000
(Decrease) increase in accrued interest payable and other liabilities	−3	8	4	−589,000	210,000
Other	120,000	194,000	−66,000	62,000	−127,000
Net Cash Provided by Operating Activities	32	33	34	35	35
Net cash and cash equivalents provided by business combination	6	0	0	—	—
Proceeds from maturities of certificates of deposit	1	2	3	2	1
Proceeds from sales of available-for-sale debt securities	143	0	61	4	2
Proceeds from calls and maturities of available-for-sale debt securities	51	39	52	59	62
Purchase of available-for-sale debt securities	−134	−26	−23	−114	−244
Redemption of Federal Home Loan Bank of Pittsburgh stock	4	7	23	12	3
Purchase of Federal Home Loan Bank of Pittsburgh stock	−2	−7	−24	−16	−2
Purchase of Federal Reserve Bank stock	−1	−47,000	−6	0	0
Net increase in loans	−66	−49	−107	−178	79
Proceeds from bank-owned life insurance	0	14	363,000	0	287,000
Purchase of bank-owned life insurance	0	0	−30	0	0
Purchase of premises and equipment	−2	−2	−2	−3	−2
Proceeds from sale of foreclosed assets	346,000	293,000	267,000	647,000	1
Other	42,000	33,000	109,000	203,000	228,000
Net Cash Provided by (Used in) Investing Activities	196,000	−21	−53	−235	−104
Net (decrease) increase in deposits	−30	79	17	73	105
Net decrease in short-term borrowings	−20	−31	−46	78	−18
Proceeds from long-term borrowings - FHLB advances	0	59	85	50	0
Repayments of long-term borrowings - FHLB advances	−45	−32	−9	−15	−26
Purchases of treasury stock	−218,000	−629,000	−7	−9	−8
Common dividends paid	−16	−16	−16	−16	−16
Net Cash (Used in) Provided by Financing Activities	−111	59	25	152	69
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	−79	71	5	−48	−169,000

Filings

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Holdings (13F)

Portfolio as of 2026-01-14 · 100 positions

Reported AUM

$270.63M

Holdings

100

Top sector

$270.63M

Top sectors

Sector	Value	% of portfolio
Uncategorized	$270.63M	100.0%

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