NASDAQ : CZNC
Citizens & Northern Corporation — Financial statements
Financials · Banks - Regional · United States
Last price 27.82 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 499.38M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 151.11M | 126.50M | 117.22M | 102.52M | 81.29M | 76.70M |
| Interest Income on Investments | 14.73M | 12.71M | 10.85M | 10.98M | 11.36M | 7.80M |
| Total Interest Income | 165.83M | 139.22M | 128.08M | 113.50M | 92.65M | 84.50M |
| Interest Paid on Deposits | 41.19M | 39.48M | 39.20M | 24.23M | 6.64M | 4.54M |
| Interest Paid on Borrowings | 7.90M | 7.89M | 9.76M | 8.87M | 2.88M | 2.02M |
| Total Interest Expense | 49.08M | 47.36M | 48.96M | 33.10M | 9.52M | 6.56M |
| Net Interest Income | 116.75M | 91.85M | 79.11M | 80.40M | 83.13M | 77.94M |
| Trust Income | 8.60M | 8.21M | 7.93M | 7.41M | 6.99M | 7.23M |
| Gain (Loss) on Sale of Investments | 67.00K | 38.00K | -3.04M | 20.00K | 24.00K | |
| Other Non-Interest Income | 17.97M | 15.14M | 14.26M | 13.75M | 11.64M | 10.56M |
| Total Non-Interest Income | 35.74M | 30.85M | 29.21M | 24.42M | 24.43M | 25.88M |
| Revenues Before Loan Losses | 152.50M | 122.70M | 108.32M | 104.82M | 107.56M | 103.82M |
| Provision for Loan Losses | 9.90M | 6.07M | 2.19M | 186.00K | 7.25M | 3.66M |
| Revenue | 142.59M | 116.63M | 106.13M | 104.63M | 100.31M | 100.16M |
| Salaries and Employee Benefits | 50.47M | 45.37M | 42.77M | 41.48M | 39.40M | 35.35M |
| Occupancy Expenses | 6.20M | 5.07M | 4.81M | 4.71M | 4.93M | 4.49M |
| Selling, General & Administrative | 15.84M | 14.30M | 12.77M | 13.44M | 11.84M | 10.89M |
| Other Non-Interest Expense | 19.64M | 15.30M | 13.91M | 14.52M | 11.78M | 11.74M |
| Total Non-Interest Expense | 92.14M | 80.05M | 74.26M | 74.15M | 67.95M | 62.47M |
| EBT Excluding Unusual Items | 50.45M | 36.58M | 31.87M | 30.48M | 32.35M | 37.69M |
| Pretax Income | 43.55M | 28.64M | 31.87M | 30.48M | 32.35M | 37.69M |
| Income Tax Expense | 8.47M | 5.22M | 5.91M | 6.33M | 5.73M | 7.13M |
| Net Income | 35.08M | 23.43M | 25.96M | 24.15M | 26.62M | 30.55M |
| Preferred Dividends & Other Adjustments | 182.00K | 182.00K | 211.00K | 186.00K | 237.00K | 241.00K |
| Net Income to Common | 34.90M | 23.25M | 25.75M | 23.96M | 26.38M | 30.31M |
| Basic Shares Outstanding | 17.75M | 15.95M | 15.26M | 15.24M | 15.46M | 15.77M |
| Diluted Shares Outstanding | 17.75M | 15.95M | 15.26M | 15.24M | 15.46M | 15.77M |
| EPS (Basic) | 1.97 | 1.46 | 1.69 | 1.57 | 1.71 | 1.92 |
| EPS (Diluted) | 1.97 | 1.46 | 1.69 | 1.57 | 1.71 | 1.92 |
| Dividend Per Share | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 |
| Effective Tax Rate | 19.45% | 18.21% | 18.55% | 20.78% | 17.72% | 18.93% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 99.99M | 44.71M | 123.57M | 52.78M | 47.70M | 95.85M |
| Investment Securities | 490.47M | 204.18M | 187.80M | 203.15M | 277.44M | 296.88M |
| Trading Asset Securities | 1.32M | 2.39M | 2.79M | 3.64M | 3.10M | |
| Mortgage-Backed Securities | 303.75M | 217.18M | 216.71M | 227.95M | 229.90M | |
| Total Investments | 490.47M | 509.25M | 407.37M | 422.65M | 509.02M | 529.88M |
| Gross Loans | 2.33B | 2.36B | 1.90B | 1.85B | 1.74B | 1.57B |
| Allowance for Loan Losses | -28.95M | -31.05M | -20.04M | -19.21M | -16.61M | -13.54M |
| Other Adjustments to Gross Loans | -4.07M | -4.14M | -4.46M | -4.72M | -4.25M | |
| Net Loans | 2.30B | 2.32B | 1.88B | 1.83B | 1.72B | 1.55B |
| Property, Plant & Equipment | 27.11M | 31.33M | 24.49M | 25.20M | 25.71M | 24.43M |
| Goodwill | 63.31M | 63.31M | 52.51M | 52.51M | 52.51M | 52.51M |
| Other Intangible Assets | 9.13M | 11.57M | 2.08M | 2.47M | 2.88M | 3.32M |
| Loans Held for Sale | 1.59M | 2.48M | ||||
| Accrued Interest Receivable | 11.63M | 11.59M | 8.73M | 9.14M | 8.65M | 7.24M |
| Long-Term Deferred Tax Assets | 22.19M | 17.61M | 19.10M | 17.44M | 20.88M | 5.89M |
| Other Real Estate Owned & Foreclosed | 336.00K | 189.00K | 181.00K | 478.00K | 275.00K | 684.00K |
| Other Long-Term Assets | 123.59M | 99.27M | 79.31M | 88.78M | 49.09M | 47.23M |
| Total Assets | 3.15B | 3.13B | 2.61B | 2.52B | 2.45B | 2.33B |
| Interest Bearing Deposits | 2.07B | 1.82B | 1.43B | 1.39B | 1.35B | 1.33B |
| Institutional Deposits | 215.57M | 175.45M | 134.09M | 85.64M | 75.38M | |
| Non-Interest Bearing Deposits | 537.86M | 531.44M | 486.57M | 490.55M | 563.84M | 521.21M |
| Total Deposits | 2.61B | 2.56B | 2.09B | 2.01B | 2.00B | 1.93B |
| Short-Term Borrowings | 4.80M | 29.94M | 4.88M | 36.67M | 83.72M | 4.91M |
| Current Portion of Long-Term Debt | 62.99M | 44.52M | 32.16M | 9.30M | 15.45M | |
| Current Portion of Leases | 719.00K | |||||
| Accrued Interest Payable | 34.91M | 1.74M | 1.77M | 1.52M | 461.00K | 205.00K |
| Long-Term Debt | 25.00M | 24.95M | 39.73M | 39.55M | 39.37M | 47.71M |
| Federal Home Loan Bank Debt, Long-Term | 133.66M | 72.92M | 120.94M | 106.18M | 53.04M | 12.59M |
| Long-Term Leases | 2.86M | 3.15M | 3.57M | 4.13M | 3.75M | |
| Pension & Post-Retirement Benefits | 514.00K | 625.00K | 1.97M | 1.83M | 2.17M | |
| Other Long-Term Liabilities | 29.41M | 25.86M | 16.78M | 15.53M | 14.39M | |
| Total Liabilities | 2.81B | 2.79B | 2.34B | 2.25B | 2.20B | 2.03B |
| Common Stock | 18.30M | 18.30M | 16.03M | 16.03M | 16.03M | 16.03M |
| Additional Paid-In Capital | 184.86M | 185.70M | 143.56M | 144.39M | 143.95M | 144.45M |
| Retained Earnings | 186.79M | 171.21M | 165.78M | 157.03M | 151.74M | 142.61M |
| Treasury Stock | -7.87M | -10.70M | -13.33M | -16.63M | -12.52M | -6.72M |
| Comprehensive Income & Other | -38.76M | -22.80M | -36.76M | -38.44M | -49.88M | 5.03M |
| Shareholders' Equity | 343.32M | 341.71M | 275.28M | 262.38M | 249.32M | 301.40M |
| Total Liabilities & Equity | 3.15B | 3.13B | 2.61B | 2.52B | 2.45B | 2.33B |
| Total Debt | 163.46M | 194.37M | 213.21M | 218.12M | 189.57M | 84.41M |
| Net Cash (Debt) | -63.47M | -147.00M | -84.65M | -158.45M | -130.88M | 23.64M |
| Net Cash Per Share | -3.58 | -9.22 | -5.55 | -10.40 | -8.47 | 1.50 |
| Filing Date Shares Outstanding | 17.95M | 17.91M | 15.47M | 15.38M | 15.56M | 15.83M |
| Total Common Shares Outstanding | 17.95M | 17.82M | 15.43M | 15.30M | 15.52M | 15.76M |
| Book Value Per Share | 19.13 | 19.17 | 17.84 | 17.15 | 16.07 | 19.13 |
| Tangible Book Value | 270.88M | 266.83M | 220.70M | 207.41M | 193.94M | 245.58M |
| Tangible Book Value Per Share | 15.09 | 14.97 | 14.30 | 13.56 | 12.50 | 15.58 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 23.43M | 25.96M | 24.15M | 26.62M | 30.55M | |
| Depreciation & Amortization | 3.56M | 2.57M | 2.56M | 2.83M | 2.67M | |
| Gain (Loss) on Sale of Investments | 1.34M | 1.65M | 5.10M | 2.74M | 2.18M | |
| Provision for Credit Losses | 6.07M | 2.19M | 186.00K | 7.25M | 3.66M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 1.97M | -1.03M | 476.00K | 1.41M | 2.27M | |
| Accrued Interest Receivable | -755.00K | -3.01M | -1.40M | -3.53M | 186.00K | |
| Change in Other Net Operating Assets | -1.93M | -1.83M | -2.70M | -545.00K | -573.00K | |
| Other Operating Activities | 1.81M | -1.79M | 274.00K | -2.08M | -4.10M | |
| Operating Cash Flow | 32.00M | 33.03M | 33.55M | 34.60M | 34.84M | |
| Capital Expenditures | -1.91M | -1.91M | -2.27M | -3.29M | -1.86M | |
| Sale of Property, Plant and Equipment | 627.00K | |||||
| Cash Acquisitions | 5.83M | |||||
| Investment in Securities | 61.19M | 14.90M | 92.98M | -49.19M | -183.47M | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -65.80M | -48.70M | -107.36M | -178.20M | 78.75M | |
| Other Investing Activities | 887.00K | 14.77M | -36.56M | -4.00M | 2.07M | |
| Investing Cash Flow | 196.00K | -20.94M | -53.20M | -234.69M | -103.89M | |
| Short-Term Debt Issued | 78.26M | |||||
| Long-Term Debt Issued | 59.39M | 85.44M | 50.00M | 39.10M | ||
| Total Debt Issued | 59.39M | 85.44M | 128.26M | 39.10M | ||
| Short-Term Debt Repaid | -19.67M | -31.39M | -46.19M | -18.15M | ||
| Long-Term Debt Repaid | -44.52M | -32.25M | -9.39M | -23.95M | -34.09M | |
| Total Debt Repaid | -64.19M | -63.63M | -55.58M | -23.95M | -52.25M | |
| Net Debt Issued (Repaid) | -64.19M | -4.25M | 29.85M | 104.30M | -13.15M | |
| Issuance of Common Stock | 160.00K | 212.00K | ||||
| Repurchase of Common Stock | -218.00K | -629.00K | -6.78M | -9.35M | -7.59M | |
| Common Dividends Paid | -16.29M | -15.53M | -15.57M | -15.87M | -15.98M | |
| Net Increase (Decrease) in Deposit Accounts | -30.37M | 79.11M | 17.23M | 72.69M | 105.38M | |
| Financing Cash Flow | -111.07M | 58.70M | 24.73M | 151.94M | 68.88M | |
| Net Cash Flow | -78.87M | 70.80M | 5.08M | -48.15M | -169.00K | |
| Free Cash Flow | 30.10M | 31.13M | 31.28M | 31.31M | 32.98M | |
| Free Cash Flow Margin | 25.81% | 29.33% | 29.90% | 31.22% | 32.93% | |
| Free Cash Flow Per Share | 1.89 | 2.04 | 2.05 | 2.02 | 2.09 | |
| Cash Interest Paid | 49.05M | 48.56M | 31.94M | 9.50M | 8.17M | |
| Cash Income Tax Paid | 8.79M | 4.84M | 6.38M | 5.56M | 10.10M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 509.89M | 359.06M | 286.70M | 342.61M | 354.34M | 411.42M |
| Last Close Price | 28.03 | 19.46 | 16.94 | 19.29 | 18.61 | 20.31 |
| PE Ratio | 14.44 | 15.45 | 11.13 | 14.30 | 13.43 | 13.57 |
| PS Ratio | 3.53 | 3.08 | 2.70 | 3.27 | 3.53 | 4.11 |
| PB Ratio | 1.47 | 1.05 | 1.04 | 1.31 | 1.42 | 1.36 |
| P/FCF Ratio | 11.24 | 11.93 | 9.21 | 10.95 | 11.32 | 12.47 |
| P/OCF Ratio | 10.94 | 11.22 | 8.68 | 10.21 | 10.24 | 11.81 |
| Debt / Equity Ratio | 0.48 | 0.57 | 0.77 | 0.83 | 0.76 | 0.28 |
| Debt / FCF Ratio | 6.46 | 6.85 | 6.97 | 6.05 | 2.56 | |
| Net Debt / Equity Ratio | 0.18 | 0.43 | 0.31 | 0.60 | 0.53 | -0.08 |
| Net Debt / FCF Ratio | 4.88 | 2.72 | 5.07 | 4.18 | -0.72 | |
| Return on Equity (ROE) | 11.01% | 7.59% | 9.66% | 9.44% | 9.67% | 10.17% |
| Return on Assets (ROA) | 1.21% | 0.82% | 1.01% | 0.97% | 1.11% | 1.34% |
| Earnings Yield | 6.92% | 6.52% | 9.05% | 7.05% | 7.51% | 7.43% |
| FCF Yield | 8.90% | 8.38% | 10.86% | 9.13% | 8.84% | 8.02% |
| Dividend Yield | 4.23% | 5.56% | 6.03% | 5.00% | 4.91% | 4.29% |
| Payout Ratio | 61.02% | 69.55% | 59.83% | 64.47% | 59.60% | 52.29% |
| Buyback Yield / Dilution | -15.60% | -4.50% | -0.14% | 1.40% | 1.99% | -6.95% |
| Total Shareholder Return | -11.32% | 1.06% | 5.89% | 6.40% | 6.89% | -2.66% |