Citizens & Northern Corp (CZNC) Financial Statements (2024 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)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments55,048104,948102,85736,18138,43737,004
Cash and cash equivalents55,048104,948101,85735,20237,48737,004
Short-term investments   1,000979950 
Restricted cash and investments    20,14818,14117,178
Financing receivable, excluding accrued interest, after allowance for credit loss(16,615) 
Total current assets:38,433104,948102,85756,32956,57854,182
Noncurrent Assets
Operating lease, right-of-use asset4,133   
Property, plant and equipment21,57420,68321,52617,17014,59215,432
Intangible assets, net (including goodwill)55,38255,82156,35629,63511,95111,954
Goodwill52,50552,50552,50528,38811,94211,942
Intangible assets, net (excluding goodwill)2,8773,3163,8511,247912
Deferred income tax assets20,8845,8872,7052,618
Total noncurrent assets:101,97382,39180,58749,42326,54327,386
Other undisclosed assets2,313,9012,140,3092,055,6561,548,3931,207,7721,195,391
TOTAL ASSETS:2,454,3072,327,6482,239,1001,654,1451,290,8931,276,959
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt80,0621,80320,02286,22012,85361,766
Total current liabilities:80,0621,80320,02286,22012,85361,766
Noncurrent Liabilities
Other undisclosed liabilities2,124,9202,024,4401,919,3221,323,4731,080,6721,026,750
Total liabilities:2,204,9822,026,2431,939,3441,409,6931,093,5251,088,516
Equity
Equity, attributable to parent, including:249,325301,405299,756244,452197,368188,443
Treasury stock, value(12,520)(6,716)(1,369)(4,173)(6,362)(8,348)
Additional paid in capital143,950144,453143,644104,51972,60272,035
Accumulated other comprehensive income (loss)(49,878)5,02611,7953,691(4,170)(1,507)
Retained earnings151,743142,612129,703126,480122,643113,608
Other undisclosed equity, attributable to parent16,03016,03015,98313,93512,65512,655
Total equity:249,325301,405299,756244,452197,368188,443
TOTAL LIABILITIES AND EQUITY:2,454,3072,327,6482,239,1001,654,1451,290,8931,276,959

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

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues14,42913,11015,0899,55847,76258,300
Gain (loss) on disposition of assets for financial service operations7773,4525,572 (288)
Net investment income11,3617,7987,9909,55848,05043,801
Revenues, excluding interest and dividends2,291     
Financial services revenue14,499
Cost of revenue(7,255)(3,661)(3,913)(849)(584)(801)
Provision for loan, lease, and other losses(7,255)(3,661)(3,913)(849)(584)
Financial services costs(801)
Gross profit:7,1749,44911,1768,70947,17857,499
Operating expenses(56,177)(50,733)(43,325)(32,588)(24,326)(19,232)
Other operating income, net
(Noninterest Income, Other Operating Income)
3,6983,5803,010  1,275
Operating income (loss):(45,305)(37,704)(29,139)(23,879)22,85239,542
Nonoperating income545573515  636
Investment income, nonoperating      257
Bank owned life insurance income545573515  379
Interest and debt expense(9,519)(6,562)(9,595)(10,283)(4,625)(3,915)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes   61,43157,5718,036(15,673)
Income (loss) from continuing operations before equity method investments, income taxes:(54,279)(43,693)23,21223,40926,26320,590
Other undisclosed income from continuing operations before income taxes86,62981,380    
Income from continuing operations before income taxes:32,35037,68723,21223,40926,26320,590
Income tax expense(5,732)(7,133)(3,990)(3,905)(4,250)(7,156)
Income from continuing operations:26,61830,55419,22219,50422,01313,434
Income before gain (loss) on sale of properties:30,55419,22219,50422,01313,434
Net income attributable to parent:26,61830,55419,22219,50422,01313,434
Undistributed earnings (loss) allocated to participating securities, basic(237)(241)(116)(100)(110)(69)
Net income available to common stockholders, diluted:26,38130,31319,10619,40421,90313,365

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:26,61830,55419,22219,50422,01313,434
Other comprehensive income (loss)(54,904)(6,769)8,1047,861(2,386)(609)
Comprehensive income (loss), net of tax, attributable to parent:(28,286)23,78527,32627,36519,62712,825

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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