Citizens & Northern Corp (CZNC) Financial Statements (2025 and earlier)

Company Profile

Business Address 90-92 MAIN ST
WELLSBORO, PA 16901
State of Incorp. PA
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2025
MRQ
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments126,17456,87855,048104,948102,85736,181
Cash and cash equivalent126,17456,87855,048104,948101,85735,202
Short-term investments     1,000979
Restricted cash and investments      20,148
Financing receivable, excluding accrued interest, after allowance for credit loss(19,208)(16,615) 
Total current assets:126,17437,67038,433104,948102,85756,329
Noncurrent Assets
Operating lease, right-of-use asset 3,1513,5704,133   
Property, plant and equipment21,33821,63221,57420,68321,52617,170
Intangible assets, net (including goodwill)54,58554,97455,38255,82156,35629,635
Goodwill52,50552,50552,50552,50552,50528,388
Intangible assets, net (excluding goodwill)2,0802,4692,8773,3163,8511,247
Deferred income tax assets19,09817,44120,8845,8872,7052,618
Total noncurrent assets:98,17297,617101,97382,39180,58749,423
Other undisclosed assets2,386,3072,380,2972,313,9012,140,3092,055,6561,548,393
TOTAL ASSETS:2,610,6532,515,5842,454,3072,327,6482,239,1001,654,145
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt2,48833,87480,0621,80320,02286,220
Total current liabilities:2,48833,87480,0621,80320,02286,220
Noncurrent Liabilities
Other undisclosed liabilities2,332,8812,219,3292,124,9202,024,4401,919,3221,323,473
Total liabilities:2,335,3692,253,2032,204,9822,026,2431,939,3441,409,693
Equity
Equity, attributable to parent, including:275,284262,381249,325301,405299,756244,452
Treasury stock, value(13,328)(16,628)(12,520)(6,716)(1,369)(4,173)
Additional paid in capital143,565144,388143,950144,453143,644104,519
Accumulated other comprehensive income (loss)(36,761)(38,437)(49,878)5,02611,7953,691
Retained earnings165,778157,028151,743142,612129,703126,480
Other undisclosed equity, attributable to parent16,03016,03016,03016,03015,98313,935
Total equity:275,284262,381249,325301,405299,756244,452
TOTAL LIABILITIES AND EQUITY:2,610,6532,515,5842,454,3072,327,6482,239,1001,654,145

Income Statement (P&L) ($ in thousands)

3/31/2025
TTM
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Revenues14,28210,34414,42913,11015,0899,558
Gain (loss) on disposition of assets for financial service operations1,158(2,313)7773,4525,572 
Net investment income10,85310,98211,3617,7987,9909,558
Revenues, excluding interest and dividends2,2711,6752,291   
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(2,195)(186)(7,255)(3,661)(3,913)(849)
Gross profit:12,08710,1587,1749,44911,1768,709
Operating expenses(60,346)(59,631)(56,177)(50,733)(43,325)(32,588)
Other operating income, net
(Noninterest Income, Other Operating Income)
5,2304,6103,6983,5803,010 
Operating loss:(43,029)(44,863)(45,305)(37,704)(29,139)(23,879)
Nonoperating income1,8302,703545573515 
Bank owned life insurance income1,8302,703545573515 
Interest and debt expense  (33,104)(9,519)(6,562)(9,595)(10,283)
Other undisclosed income from continuing operations before equity method investments, income taxes     61,43157,571
Income (loss) from continuing operations before equity method investments, income taxes:(41,199)(75,264)(54,279)(43,693)23,21223,409
Other undisclosed income from continuing operations before income taxes73,070105,74786,62981,380  
Income from continuing operations before income taxes:31,87130,48332,35037,68723,21223,409
Income tax expense(5,913)(6,335)(5,732)(7,133)(3,990)(3,905)
Income from continuing operations:25,95824,14826,61830,55419,22219,504
Income before gain (loss) on sale of properties:30,55419,22219,504
Net income attributable to parent:25,95824,14826,61830,55419,22219,504
Undistributed earnings (loss) allocated to participating securities, basic(211)(186)(237)(241)(116)(100)
Net income available to common stockholders, diluted:25,74723,96226,38130,31319,10619,404

Comprehensive Income ($ in thousands)

3/31/2025
TTM
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Net income:25,95824,14826,61830,55419,22219,504
Other comprehensive income (loss)1,67611,441(54,904)(6,769)8,1047,861
Comprehensive income (loss), net of tax, attributable to parent:27,63435,589(28,286)23,78527,32627,365

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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