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
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments52,65851,76252,21255,04864,04469,187
Cash and cash equivalents52,65851,76252,21255,04864,04469,187
Financing receivable, excluding accrued interest, after allowance for credit loss(18,085)(19,056)(18,346)(16,615)  
Total current assets:34,57332,70633,86638,43364,04469,187
Noncurrent Assets
Operating lease, right-of-use asset   4,133  
Property, plant and equipment21,26720,97021,27721,57421,88121,829
Intangible assets, net (including goodwill)55,07655,17855,28055,38255,49255,602
Goodwill52,50552,50552,50552,50552,50552,505
Intangible assets, net (excluding goodwill)2,5712,6732,7752,8772,9873,097
Deferred income tax assets23,73120,68718,91420,88422,32716,331
Total noncurrent assets:100,07496,83595,471101,97399,70093,762
Other undisclosed assets2,349,3022,341,2392,300,5352,313,9012,236,4362,247,769
TOTAL ASSETS:2,483,9492,470,7802,429,8722,454,3072,400,1802,410,718
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt23,25331,43193,39680,0622,45790,042
Total current liabilities:23,25331,43193,39680,0622,45790,042
Noncurrent Liabilities
Other undisclosed liabilities2,220,4912,191,2322,080,9082,124,9202,158,9342,062,057
Total liabilities:2,243,7442,222,6632,174,3042,204,9822,161,3912,152,099
Equity
Equity, attributable to parent, including:240,205248,117255,568249,325238,789258,619
Treasury stock, value(17,015)(17,226)(13,050)(12,520)(12,970)(13,013)
Additional paid in capital143,972143,661143,395143,950143,894143,417
Accumulated other comprehensive loss(59,826)(48,073)(42,797)(49,878)(56,469)(36,002)
Retained earnings157,044153,725151,990151,743148,304148,187
Other undisclosed equity, attributable to parent16,03016,03016,03016,03016,03016,030
Total equity:240,205248,117255,568249,325238,789258,619
TOTAL LIABILITIES AND EQUITY:2,483,9492,470,7802,429,8722,454,3072,400,1802,410,718

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

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
Revenues3,3053,2653,3623,4903,0573,589
Brokerage commissions revenue566
Gain (loss) on disposition of assets for financial service operations2371388123151219
Net investment income2,6742,7622,8512,9602,9062,804
Revenues, excluding interest and dividends394365430507  
Cost of revenue (812) (2,262)(3,794)(308)
Provision for loan, lease, and other losses  (812) (2,262)(3,794)(308)
Gross profit:3,3052,4533,3621,228(737)3,281
Operating expenses(14,456)(14,564)(15,702)(13,710)(14,564)(13,773)
Other operating income, net
(Noninterest Income, Other Operating Income)
1,0841,5877711,0326221,456
Operating loss:(10,067)(10,524)(11,569)(11,450)(14,679)(9,036)
Nonoperating income
(Bank Owned Life Insurance Income)
160152138140133137
Interest and debt expense(9,455)(7,649)(5,358)(3,563)(2,831)(1,684)
Loss from continuing operations before equity method investments, income taxes:(19,362)(18,021)(16,789)(14,873)(17,377)(10,583)
Other undisclosed income from continuing operations before income taxes28,79925,48324,45124,42522,69019,690
Income from continuing operations before income taxes:9,4377,4627,6629,5525,3139,107
Income tax expense(1,846)(1,419)(1,409)(1,773)(858)(1,618)
Income from continuing operations:7,5916,0436,2537,7794,4557,489
Income before gain (loss) on sale of properties:4,4557,489
Net income attributable to parent:7,5916,0436,2537,7794,4557,489
Undistributed earnings (loss) allocated to participating securities, basic(57)(47)(52)(68)(39)(70)
Net income available to common stockholders, diluted:7,5345,9966,2017,7114,4167,419

Comprehensive Income ($ in thousands)

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
Net income:7,5916,0436,2537,7794,4557,489
Other comprehensive income (loss)(11,753)(5,276)7,0816,591(20,467)(15,824)
Comprehensive income (loss), net of tax, attributable to parent:(4,162)76713,33414,370(16,012)(8,335)

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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