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Citizens & Northern Corporation (OQ:CZNC)

Business Focus: Banks

Sector:  Financials Industry:  Banks
 
See Regulatory Filings on SEC
Company Contact
Address: 90-92 Main St
WELLSBORO PA 16901
Tel: N/A
Website: https://www.cnbankpa.com/About/Investor-Relations/C-N-Corporate-Profile
IR: See website
Key People
J. Bradley Scovill
President, Chief Executive Officer, Director
Blair T. Rush
Executive Vice President, Southeast Region President of the Bank
Glenn James
Executive Vice President, General Counsel, Corporate Secretary
Alexander Balagour
Executive Vice President, Chief Information Officer of the Bank
Matthew L. Bower
Executive Vice President, Chief Wealth Management Officer of the Bank
Kelley A. Cwiklinski
Executive Vice President, Chief Commercial Lending Officer
Stan R. Dunsmore
Executive Vice President, Chief Credit Officer of the Bank
Harold F. Hoose
Executive Vice President, Chief Revenue Officer of the Bank
John M. Reber
Executive Vice President, Chief Risk Management Officer of the Bank
Thomas L. Rudy
Executive Vice President, Chief Delivery Officer and Region President of the Bank
   
Business Overview
Citizens & Northern Corporation is a holding company whose principal activity is community banking. The Company's subsidiaries include Citizens & Northern Bank (the Bank), Citizens & Northern Investment Corporation and Bucktail Life Insurance Company (Bucktail). The Bank is a Pennsylvania banking institution, which provides a range of banking services, including deposit and loan products for personal and commercial customers. The Bank also provides wealth management services through its trust department and C&N Financial Services, LLC (CNFS). The trust department offers a range of financial services, such as 401(k) plans, retirement planning, estate planning, estate settlements and asset management. It operates over 29 branch offices, including 22 in the Northern tier/Northcentral region of Pennsylvania, one in the Southern tier of New York State, four in Southeastern Pennsylvania and two in Southcentral Pennsylvania. The Bank also has a lending office in Elmira, New York.
Financial Overview
For the fiscal year ended 31 December 2023, Citizens & Northern Corporation interest income increased 23% to $113.5M. Net interest income after loan loss provision increased 6% to $80.2M. Net income applicable to common stockholders decreased 9% to $24M. Net interest income after loan loss provision reflects Community banking segment increase of 6% to $80.2M. Net income was offset by Community banking segment income decrease of 9% to $24.1M.