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Citizens & Northern (CZNC) Financials

Citizens & Northern logo
$20.07 +0.05 (+0.25%)
Closing price 09/15/2025 04:00 PM Eastern
Extended Trading
$20.13 +0.06 (+0.30%)
As of 09/15/2025 04:11 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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Annual Income Statements for Citizens & Northern

Annual Income Statements for Citizens & Northern

This table shows Citizens & Northern's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 27 24 26
Consolidated Net Income / (Loss)		 27 24 26
Net Income / (Loss) Continuing Operations		 27 24 26
Total Pre-Tax Income 		32 30 32
Total Revenue		 108 105 108
Net Interest Income / (Expense)		 83 80 79
Total Interest Income		 93 114 128
Loans and Leases Interest Income		 81 101 113
Investment Securities Interest Income		 12 12 15
Total Interest Expense		 9.52 33 49
Deposits Interest Expense		 6.64 24 39
Short-Term Borrowings Interest Expense		 0.43 3.24 1.17
Long-Term Debt Interest Expense		 2.45 5.63 8.60
Total Non-Interest Income		 24 24 29
Trust Fees by Commissions		 9.29 9.09 10
Other Service Charges		 14 4.61 5.23
Net Realized & Unrealized Capital Gains on Investments		 0.78 -2.31 1.16
Other Non-Interest Income		 0.55 13 13
Provision for Credit Losses		 7.26 0.19 2.20
Total Non-Interest Expense		 68 74 74
Salaries and Employee Benefits		 42 44 45
Net Occupancy & Equipment Expense		 12 13 13
Other Operating Expenses		 14 17 16
Income Tax Expense		 5.73 6.34 5.91
Basic Earnings per Share		 $1.71 $1.57 $1.69
Weighted Average Basic Shares Outstanding		 15.56M 15.38M 15.47M
Diluted Earnings per Share		 $1.71 $1.57 $1.69
Weighted Average Diluted Shares Outstanding		 15.56M 15.38M 15.47M
Weighted Average Basic & Diluted Shares Outstanding		 15.56M 15.38M 15.47M

Quarterly Income Statements for Citizens & Northern

This table shows Citizens & Northern's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 4.46 7.78 6.25 6.04 7.59 4.26 5.31 6.11 6.37 8.17
Consolidated Net Income / (Loss)		 4.46 7.78 6.25 6.04 7.59 4.26 5.31 6.11 6.37 8.17
Net Income / (Loss) Continuing Operations		 4.46 7.78 6.25 6.04 7.59 4.26 5.31 6.11 6.37 8.17
Total Pre-Tax Income 		5.31 9.55 7.66 7.46 9.44 5.92 6.46 7.48 7.81 10
Total Revenue		 27 28 26 27 26 25 26 27 27 28
Net Interest Income / (Expense)		 21 22 21 20 20 20 19 19 20 20
Total Interest Income		 24 26 26 28 29 30 30 31 33 33
Loans and Leases Interest Income		 21 23 23 25 26 27 27 28 29 29
Investment Securities Interest Income		 3.12 3.28 3.14 3.09 3.04 3.17 3.09 3.24 4.38 4.58
Total Interest Expense		 2.83 3.56 5.36 7.65 9.46 11 11 12 13 13
Deposits Interest Expense		 1.97 2.63 3.23 5.10 7.26 8.64 8.89 9.31 10 11
Short-Term Borrowings Interest Expense		 0.18 0.13 1.10 1.14 0.68 0.32 0.60 0.36 0.18 0.03
Long-Term Debt Interest Expense		 0.68 0.81 1.03 1.41 1.51 1.68 1.81 2.21 2.34 2.25
Total Non-Interest Income		 5.67 6.11 5.62 6.63 6.49 5.68 6.68 7.85 7.13 7.55
Trust Fees by Commissions		 0.70 7.50 2.21 2.17 2.31 2.40 2.44 2.54 2.47 2.75
Other Service Charges		 4.69 2.64 3.19 4.18 1.08 -3.84 3.58 1.94 3.85 -4.14
Net Realized & Unrealized Capital Gains on Investments		 0.15 0.02 0.08 0.14 0.24 -2.77 0.19 0.24 0.36 0.37
Other Non-Interest Income		 0.13 -4.05 0.14 0.15 2.86 9.89 0.47 3.14 0.46 8.56
Provision for Credit Losses		 3.79 2.26 -0.35 0.81 -1.23 0.95 0.95 0.57 1.21 -0.53
Total Non-Interest Expense		 17 17 19 19 18 18 18 19 18 18
Salaries and Employee Benefits		 11 10 11 11 11 11 12 11 11 11
Net Occupancy & Equipment Expense		 3.22 3.06 3.34 3.22 3.09 3.29 3.44 3.34 3.26 3.20
Other Operating Expenses		 3.40 3.39 4.32 4.72 3.97 4.00 3.30 4.90 4.14 3.76
Income Tax Expense		 0.86 1.77 1.41 1.42 1.85 1.66 1.15 1.37 1.45 1.95
Basic Earnings per Share		 $0.29 $0.50 $0.40 $0.39 $0.50 $0.28 $0.35 $0.40 $0.41 $0.53
Weighted Average Basic Shares Outstanding		 15.50M 15.56M 15.36M 15.26M 15.27M 15.38M 15.38M 15.39M 15.41M 15.47M
Diluted Earnings per Share		 $0.29 $0.50 $0.40 $0.39 $0.50 $0.28 $0.35 $0.40 $0.41 $0.53
Weighted Average Diluted Shares Outstanding		 15.50M 15.56M 15.36M 15.26M 15.27M 15.38M 15.38M 15.39M 15.41M 15.47M
Weighted Average Basic & Diluted Shares Outstanding		 15.50M 15.56M 15.36M 15.26M 15.27M 15.38M 15.38M 15.39M 15.41M 15.47M

Annual Cash Flow Statements for Citizens & Northern

This table details how cash moves in and out of Citizens & Northern's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -48 5.08 71
Net Cash From Operating Activities		 35 34 33
Net Cash From Continuing Operating Activities		 35 34 33
Net Income / (Loss) Continuing Operations		 27 24 26
Consolidated Net Income / (Loss)		 27 24 26
Provision For Loan Losses		 7.26 0.19 2.20
Depreciation Expense		 2.39 2.15 2.18
Amortization Expense		 1.58 1.77 1.65
Non-Cash Adjustments to Reconcile Net Income		 0.88 2.53 -3.92
Changes in Operating Assets and Liabilities, net		 -4.12 2.76 4.98
Net Cash From Investing Activities		 -235 -53 -21
Net Cash From Continuing Investing Activities		 -235 -53 -21
Purchase of Property, Leasehold Improvements and Equipment		 -3.29 -2.27 -1.91
Purchase of Investment Securities		 -308 -191 -81
Sale and/or Maturity of Investments		 65 117 55
Other Investing Activities, net		 12 23 7.01
Net Cash From Financing Activities		 152 25 59
Net Cash From Continuing Financing Activities		 152 25 59
Net Change in Deposits		 73 17 79
Issuance of Debt		 50 39 59
Issuance of Common Equity		 0.16 0.00 0.00
Repayment of Debt		 54 -9.40 -64
Repurchase of Common Equity		 -9.35 -6.78 -0.63
Payment of Dividends		 -16 -16 -16

Quarterly Cash Flow Statements for Citizens & Northern

This table details how cash moves in and out of Citizens & Northern's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 -4.89 -7.75 -1.59 0.05 2.15 4.47 -10 54 85 -58
Net Cash From Operating Activities		 13 8.06 9.55 7.79 8.46 7.75 5.73 8.63 6.60 12
Net Cash From Continuing Operating Activities		 13 8.06 9.55 7.79 8.46 7.75 5.73 8.63 6.60 12
Net Income / (Loss) Continuing Operations		 4.46 7.78 6.25 6.04 7.59 4.26 5.31 6.11 6.37 8.17
Consolidated Net Income / (Loss)		 4.46 7.78 6.25 6.04 7.59 4.26 5.31 6.11 6.37 8.17
Provision For Loan Losses		 3.79 2.26 -0.35 0.81 -1.23 0.95 0.95 0.57 1.21 -0.53
Depreciation Expense		 0.77 0.61 0.57 0.53 0.53 0.52 0.51 0.55 0.58 0.55
Amortization Expense		 0.49 0.42 0.53 0.35 0.48 0.42 0.43 0.43 0.41 0.38
Non-Cash Adjustments to Reconcile Net Income		 1.80 -0.81 0.42 0.25 -0.39 2.25 0.09 -1.64 -3.04 0.67
Changes in Operating Assets and Liabilities, net		 1.22 -2.21 2.13 -0.19 1.47 -0.65 -1.56 2.63 1.08 2.83
Net Cash From Investing Activities		 -20 -54 27 -48 -19 -13 -19 -18 22 -5.92
Net Cash From Continuing Investing Activities		 -20 -54 27 -48 -19 -13 -19 -18 22 -5.92
Purchase of Property, Leasehold Improvements and Equipment		 -0.83 -0.30 -0.28 -0.28 -0.83 -0.88 -0.74 -0.66 -0.15 -0.35
Purchase of Investment Securities		 -50 -65 -12 -77 -15 -86 -28 -32 -4.40 -17
Sale and/or Maturity of Investments		 25 9.96 35 20 11 51 7.48 11 26 11
Other Investing Activities, net		 6.00 0.84 3.63 9.34 -13 23 2.70 2.54 0.75 1.02
Net Cash From Financing Activities		 2.29 39 -38 40 13 9.57 2.46 64 56 -64
Net Cash From Continuing Financing Activities		 2.29 39 -38 40 13 9.57 2.46 64 56 -64
Net Change in Deposits		 75 -42 -82 94 15 -10 -19 63 77 -42
Repayment of Debt		 -0.03 74 6.31 -62 -8.20 54 -6.03 -23 -16 -18
Repurchase of Common Equity		 -0.27 - -1.87 -4.64 -0.22 -0.07 -0.21 -0.38 -0.06 0.03
Payment of Dividends		 -3.94 -3.94 -3.95 -3.90 -3.85 -3.87 -3.88 -3.88 -3.88 -3.89

Annual Balance Sheets for Citizens & Northern

This table presents Citizens & Northern's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 2,454 2,516 2,611
Cash and Due from Banks		 26 25 21
Interest Bearing Deposits at Other Banks		 29 32 105
Trading Account Securities		 498 416 402
Loans and Leases, Net of Allowance		 1,723 1,829 1,876
Loans and Leases		 1,740 1,848 1,896
Allowance for Loan and Lease Losses		 17 19 20
Accrued Investment Income		 8.65 9.14 8.74
Premises and Equipment, Net		 22 22 21
Goodwill		 53 53 53
Intangible Assets		 2.88 2.47 2.08
Other Assets		 92 128 122
Total Liabilities & Shareholders' Equity		 2,454 2,516 2,611
Total Liabilities		 2,205 2,253 2,335
Non-Interest Bearing Deposits		 564 491 487
Interest Bearing Deposits		 1,434 1,524 1,607
Short-Term Debt		 80 34 2.49
Long-Term Debt		 102 178 205
Other Long-Term Liabilities		 26 27 34
Total Equity & Noncontrolling Interests		 249 262 275
Total Preferred & Common Equity		 249 262 275
Preferred Stock		 0.00 0.00 0.00
Total Common Equity		 249 262 275
Common Stock		 160 160 160
Retained Earnings		 152 157 166
Treasury Stock		 -13 -17 -13
Accumulated Other Comprehensive Income / (Loss)		 -50 -38 -37

Quarterly Balance Sheets for Citizens & Northern

This table presents Citizens & Northern's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 2,400 2,430 2,471 2,484 2,522 2,593 2,671
Cash and Due from Banks		 31 23 25 26 18 27 26
Interest Bearing Deposits at Other Banks		 33 29 27 27 28 74 159
Trading Account Securities		 488 473 446 429 405 401 408
Loans and Leases, Net of Allowance		 1,674 1,727 1,795 1,813 1,852 1,873 1,872
Loans and Leases		 1,690 1,745 1,815 1,831 1,872 1,893 1,893
Allowance for Loan and Lease Losses		 16 18 19 18 20 20 20
Accrued Investment Income		 8.43 8.81 8.44 9.31 9.47 9.17 9.42
Premises and Equipment, Net		 22 21 21 21 22 22 22
Goodwill		 53 53 53 53 53 53 53
Intangible Assets		 2.99 2.78 2.67 2.57 2.37 2.27 2.18
Other Assets		 88 1,819 93 104 131 133 120
Total Liabilities & Shareholders' Equity		 2,400 2,430 2,471 2,484 2,522 2,593 2,671
Total Liabilities		 2,161 2,174 2,223 2,244 2,260 2,330 2,394
Non-Interest Bearing Deposits		 558 545 510 496 494 502 513
Interest Bearing Deposits		 1,482 1,371 1,500 1,529 1,502 1,558 1,623
Short-Term Debt		 2.46 93 31 23 49 17 11
Long-Term Debt		 95 138 155 165 188 225 214
Other Long-Term Liabilities		 25 27 26 31 27 28 32
Total Equity & Noncontrolling Interests		 239 256 248 240 262 263 277
Total Preferred & Common Equity		 239 256 248 240 262 263 277
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 239 256 248 240 262 263 277
Common Stock		 160 159 160 160 159 159 159
Retained Earnings		 148 152 154 157 158 160 162
Treasury Stock		 -13 -13 -17 -17 -15 -15 -14
Accumulated Other Comprehensive Income / (Loss)		 -56 -43 -48 -60 -41 -41 -30

Annual Metrics And Ratios for Citizens & Northern

This table displays calculated financial ratios and metrics derived from Citizens & Northern's official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 3.60% -2.55% 3.35%
EBITDA Growth		 -13.57% -5.26% 3.75%
EBIT Growth		 -14.16% -5.77% 4.55%
NOPAT Growth		 -12.88% -9.28% 7.50%
Net Income Growth		 -12.88% -9.28% 7.50%
EPS Growth		 -10.94% -8.19% 7.64%
Operating Cash Flow Growth		 -0.70% -3.04% -1.53%
Free Cash Flow Firm Growth		 -160.02% 26.02% 190.78%
Invested Capital Growth		 13.76% 9.98% 1.86%
Revenue Q/Q Growth		 2.16% -2.90% 2.60%
EBITDA Q/Q Growth		 1.17% -12.48% 12.28%
EBIT Q/Q Growth		 1.78% -10.64% 15.17%
NOPAT Q/Q Growth		 1.80% -12.72% 17.75%
Net Income Q/Q Growth		 1.80% -12.72% 17.75%
EPS Q/Q Growth		 2.40% -12.29% 17.36%
Operating Cash Flow Q/Q Growth		 -4.55% -0.92% 15.08%
Free Cash Flow Firm Q/Q Growth		 -132.84% 70.73% 132.50%
Invested Capital Q/Q Growth		 28.29% 10.72% -3.99%
Profitability Metrics		 - - -
EBITDA Margin		 33.77% 32.83% 32.96%
EBIT Margin		 30.08% 29.08% 29.42%
Profit (Net Income) Margin		 24.75% 23.04% 23.96%
Tax Burden Percent		 82.28% 79.22% 81.45%
Interest Burden Percent		 100.00% 100.00% 100.00%
Effective Tax Rate		 17.72% 20.78% 18.55%
Return on Invested Capital (ROIC)		 6.57% 5.34% 5.42%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.57% 5.34% 5.42%
Return on Net Nonoperating Assets (RNNOA)		 3.09% 4.10% 4.23%
Return on Equity (ROE)		 9.67% 9.44% 9.66%
Cash Return on Invested Capital (CROIC)		 -6.30% -4.17% 3.58%
Operating Return on Assets (OROA)		 1.35% 1.23% 1.24%
Return on Assets (ROA)		 1.11% 0.97% 1.01%
Return on Common Equity (ROCE)		 9.67% 9.44% 9.66%
Return on Equity Simple (ROE_SIMPLE)		 10.68% 9.20% 9.43%
Net Operating Profit after Tax (NOPAT)		 27 24 26
NOPAT Margin		 24.75% 23.04% 23.96%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 50.36% 54.51% 53.70%
Operating Expenses to Revenue		 63.18% 70.74% 68.55%
Earnings before Interest and Taxes (EBIT)		 32 30 32
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 36 34 36
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 1.25 1.22 1.03
Price to Tangible Book Value (P/TBV)		 1.61 1.54 1.28
Price to Revenue (P/Rev)		 2.91 3.05 2.61
Price to Earnings (P/E)		 11.74 13.23 10.90
Dividend Yield		 5.55% 5.36% 6.10%
Earnings Yield		 8.51% 7.56% 9.17%
Enterprise Value to Invested Capital (EV/IC)		 1.02 1.00 0.75
Enterprise Value to Revenue (EV/Rev)		 4.08 4.52 3.36
Enterprise Value to EBITDA (EV/EBITDA)		 12.10 13.78 10.21
Enterprise Value to EBIT (EV/EBIT)		 13.58 15.56 11.43
Enterprise Value to NOPAT (EV/NOPAT)		 16.51 19.64 14.04
Enterprise Value to Operating Cash Flow (EV/OCF)		 12.70 14.14 11.03
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 21.26
Leverage & Solvency		 - - -
Debt to Equity		 0.73 0.81 0.75
Long-Term Debt to Equity		 0.41 0.68 0.75
Financial Leverage		 0.47 0.77 0.78
Leverage Ratio		 8.68 9.71 9.53
Compound Leverage Factor		 8.68 9.71 9.53
Debt to Total Capital		 42.17% 44.66% 43.00%
Short-Term Debt to Total Capital		 18.57% 7.14% 0.52%
Long-Term Debt to Total Capital		 23.59% 37.52% 42.48%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 57.83% 55.34% 57.00%
Debt to EBITDA		 5.01 6.15 5.82
Net Debt to EBITDA		 3.49 4.50 2.28
Long-Term Debt to EBITDA		 2.80 5.17 5.75
Debt to NOPAT		 6.83 8.77 8.00
Net Debt to NOPAT		 4.76 6.41 3.14
Long-Term Debt to NOPAT		 3.82 7.37 7.90
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00%
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 -26 -19 17
Operating Cash Flow to CapEx		 1,052.28% 1,481.15% 1,733.21%
Free Cash Flow to Firm to Interest Expense		 -2.68 -0.57 0.35
Operating Cash Flow to Interest Expense		 3.63 1.01 0.67
Operating Cash Flow Less CapEx to Interest Expense		 3.29 0.95 0.64
Efficiency Ratios		 - - -
Asset Turnover		 0.05 0.04 0.04
Fixed Asset Turnover		 5.09 4.85 5.04
Capital & Investment Metrics		 - - -
Invested Capital		 431 474 483
Invested Capital Turnover		 0.27 0.23 0.23
Increase / (Decrease) in Invested Capital		 52 43 8.81
Enterprise Value (EV)		 439 474 364
Market Capitalization		 313 319 283
Book Value per Share		 $16.09 $17.18 $17.86
Tangible Book Value per Share		 $12.51 $13.58 $14.32
Total Capital		 431 474 483
Total Debt		 182 212 208
Total Long-Term Debt		 102 178 205
Net Debt		 127 155 81
Capital Expenditures (CapEx)		 3.29 2.27 1.91
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 182 212 208
Total Depreciation and Amortization (D&A)		 3.97 3.93 3.83
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $1.71 $1.57 $1.69
Adjusted Weighted Average Basic Shares Outstanding		 15.56M 15.38M 15.47M
Adjusted Diluted Earnings per Share		 $1.71 $1.57 $1.69
Adjusted Weighted Average Diluted Shares Outstanding		 15.56M 15.38M 15.47M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 15.56M 15.38M 15.47M
Normalized Net Operating Profit after Tax (NOPAT)		 27 24 26
Normalized NOPAT Margin		 24.75% 23.04% 23.96%
Pre Tax Income Margin		 30.08% 29.08% 29.42%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 3.40 0.92 0.65
NOPAT to Interest Expense		 2.80 0.73 0.53
EBIT Less CapEx to Interest Expense		 3.05 0.85 0.61
NOPAT Less CapEx to Interest Expense		 2.45 0.66 0.49
Payout Ratios		 - - -
Dividend Payout Ratio		 59.60% 64.47% 59.83%
Augmented Payout Ratio		 94.73% 92.57% 62.25%

Quarterly Metrics And Ratios for Citizens & Northern

This table displays calculated financial ratios and metrics derived from Citizens & Northern's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 2.74% 8.69% 0.93% 2.05% -1.50% -11.02% -2.58% 1.12% 4.35% 10.87%
EBITDA Growth		 -42.45% 4.13% -8.72% -12.75% 58.97% -35.22% -15.53% 1.27% -15.76% 61.14%
EBIT Growth		 -40.74% 6.31% -8.55% -18.06% 77.62% -38.00% -15.71% 0.23% -17.21% 70.91%
NOPAT Growth		 -39.79% 6.45% -9.31% -19.31% 70.39% -45.22% -15.14% 1.16% -16.15% 91.83%
Net Income Growth		 -39.79% 6.45% -9.31% -19.31% 70.39% -45.22% -15.14% 1.16% -16.15% 91.83%
EPS Growth		 -38.30% 8.70% -9.09% -18.75% 72.41% -44.00% -12.50% 2.56% -18.00% 89.29%
Operating Cash Flow Growth		 28.79% -17.00% 69.07% -6.87% -32.47% -3.86% -40.00% 10.76% -21.99% 55.87%
Free Cash Flow Firm Growth		 -26.56% -330.04% -463.74% 81.66% -250.96% 12.61% 95.13% -1,762.97% 19.12% 98.35%
Invested Capital Growth		 -13.31% 13.76% 40.41% 2.24% 27.44% 9.98% 2.43% 16.38% 17.47% 1.86%
Revenue Q/Q Growth		 0.36% 6.97% -7.06% 2.27% -3.13% -3.36% 1.76% 6.16% -0.04% 2.68%
EBITDA Q/Q Growth		 -31.32% 61.08% -25.52% -4.75% 25.14% -34.35% 6.55% 14.20% 4.09% 25.57%
EBIT Q/Q Growth		 -41.66% 79.79% -19.79% -2.61% 26.47% -37.25% 9.05% 15.81% 4.47% 29.54%
NOPAT Q/Q Growth		 -40.51% 74.61% -19.62% -3.36% 25.62% -43.87% 24.52% 15.21% 4.12% 28.42%
Net Income Q/Q Growth		 -40.51% 74.61% -19.62% -3.36% 25.62% -43.87% 24.52% 15.21% 4.12% 28.42%
EPS Q/Q Growth		 -39.58% 72.41% -20.00% -2.50% 28.21% -44.00% 25.00% 14.29% 2.50% 29.27%
Operating Cash Flow Q/Q Growth		 49.65% -35.66% 18.50% -18.38% 8.52% -8.41% -26.05% 50.69% -23.57% 83.01%
Free Cash Flow Firm Q/Q Growth		 394.53% -179.16% -201.88% 97.40% -2,324.99% 54.17% 83.19% -897.22% -5.28% 99.07%
Invested Capital Q/Q Growth		 -20.88% 28.29% 12.98% -10.84% -1.39% 10.72% 5.22% 1.30% -0.47% -3.99%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 24.75% 37.26% 33.19% 30.92% 39.94% 27.13% 28.78% 30.96% 32.24% 39.43%
EBIT Margin		 20.01% 33.63% 29.03% 27.64% 36.09% 23.43% 25.11% 27.40% 28.63% 36.12%
Profit (Net Income) Margin		 16.78% 27.39% 23.69% 22.38% 29.03% 16.86% 20.63% 22.39% 23.32% 29.17%
Tax Burden Percent		 83.85% 81.44% 81.61% 80.98% 80.44% 71.95% 82.16% 81.74% 81.47% 80.76%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 16.15% 18.56% 18.39% 19.02% 19.56% 28.05% 17.84% 18.26% 18.53% 19.24%
Return on Invested Capital (ROIC)		 4.88% 7.27% 6.12% 5.65% 8.20% 3.90% 4.36% 4.98% 5.29% 6.60%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.88% 7.27% 6.12% 5.65% 8.20% 3.90% 4.36% 4.98% 5.29% 6.60%
Return on Net Nonoperating Assets (RNNOA)		 1.68% 3.43% 3.48% 3.93% 4.88% 3.00% 3.95% 4.17% 4.23% 5.15%
Return on Equity (ROE)		 6.57% 10.70% 9.60% 9.57% 13.08% 6.91% 8.31% 9.15% 9.52% 11.75%
Cash Return on Invested Capital (CROIC)		 21.48% -6.30% -27.39% 3.49% -16.89% -4.17% 2.31% -10.18% -11.33% 3.58%
Operating Return on Assets (OROA)		 0.89% 1.51% 1.31% 1.23% 1.60% 0.99% 1.06% 1.13% 1.17% 1.53%
Return on Assets (ROA)		 0.74% 1.23% 1.07% 0.99% 1.28% 0.71% 0.87% 0.92% 0.96% 1.23%
Return on Common Equity (ROCE)		 6.57% 10.70% 9.60% 9.57% 13.08% 6.91% 8.31% 9.15% 9.52% 11.75%
Return on Equity Simple (ROE_SIMPLE)		 10.95% 0.00% 10.16% 9.89% 11.52% 0.00% 8.87% 8.84% 7.95% 0.00%
Net Operating Profit after Tax (NOPAT)		 4.46 7.78 6.25 6.04 7.59 4.26 5.31 6.11 6.37 8.17
NOPAT Margin		 16.78% 27.39% 23.69% 22.38% 29.03% 16.86% 20.63% 22.39% 23.32% 29.17%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 52.89% 46.46% 55.93% 51.86% 53.41% 56.98% 58.35% 52.60% 51.79% 52.37%
Operating Expenses to Revenue		 65.70% 58.40% 72.31% 69.35% 68.60% 72.80% 71.18% 70.53% 66.95% 65.77%
Earnings before Interest and Taxes (EBIT)		 5.31 9.55 7.66 7.46 9.44 5.92 6.46 7.48 7.81 10
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 6.57 11 8.76 8.35 10 6.86 7.40 8.45 8.80 11
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 1.25 1.21 1.11 1.04 1.22 1.09 1.03 1.08 1.03
Price to Tangible Book Value (P/TBV)		 0.00 1.61 1.55 1.43 1.35 1.54 1.37 1.30 1.34 1.28
Price to Revenue (P/Rev)		 0.00 2.91 2.87 2.55 2.31 3.05 2.73 2.60 2.83 2.61
Price to Earnings (P/E)		 0.01 11.74 11.92 11.26 9.00 13.23 12.25 11.67 13.55 10.90
Dividend Yield		 5.02% 5.55% 5.63% 6.23% 6.86% 5.36% 6.06% 6.34% 5.77% 6.10%
Earnings Yield		 7,558.42% 8.51% 8.39% 8.88% 11.11% 7.56% 8.16% 8.57% 7.38% 9.17%
Enterprise Value to Invested Capital (EV/IC)		 0.10 1.02 1.00 0.95 0.90 1.00 0.95 0.82 0.68 0.75
Enterprise Value to Revenue (EV/Rev)		 0.32 4.08 4.54 3.79 3.56 4.52 4.56 3.96 3.22 3.36
Enterprise Value to EBITDA (EV/EBITDA)		 0.93 12.10 13.34 11.59 9.78 13.78 14.25 12.36 10.70 10.21
Enterprise Value to EBIT (EV/EBIT)		 1.06 13.58 15.45 13.69 11.27 15.56 16.23 14.11 12.29 11.43
Enterprise Value to NOPAT (EV/NOPAT)		 1.28 16.51 18.82 16.74 13.90 19.64 20.48 17.76 15.43 14.04
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.93 12.70 12.70 10.83 11.35 14.14 15.98 13.52 11.85 11.03
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.43 0.00 0.00 27.38 0.00 0.00 41.76 0.00 0.00 21.26
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.41 0.73 0.91 0.75 0.78 0.81 0.91 0.92 0.81 0.75
Long-Term Debt to Equity		 0.40 0.41 0.54 0.62 0.69 0.68 0.72 0.86 0.77 0.75
Financial Leverage		 0.34 0.47 0.57 0.70 0.60 0.77 0.91 0.84 0.80 0.78
Leverage Ratio		 8.84 8.68 8.95 9.63 10.20 9.71 9.57 9.90 9.96 9.53
Compound Leverage Factor		 8.84 8.68 8.95 9.63 10.20 9.71 9.57 9.90 9.96 9.53
Debt to Total Capital		 28.94% 42.17% 47.53% 42.87% 43.91% 44.66% 47.55% 47.92% 44.87% 43.00%
Short-Term Debt to Total Capital		 0.73% 18.57% 19.17% 7.24% 5.43% 7.14% 9.79% 3.34% 2.27% 0.52%
Long-Term Debt to Total Capital		 28.21% 23.59% 28.36% 35.63% 38.48% 37.52% 37.77% 44.58% 42.60% 42.48%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 71.06% 57.83% 52.47% 57.13% 56.09% 55.34% 52.45% 52.08% 55.13% 57.00%
Debt to EBITDA		 2.71 5.01 6.31 5.25 4.78 6.15 7.12 7.24 7.10 5.82
Net Debt to EBITDA		 0.93 3.49 4.89 3.79 3.44 4.50 5.72 4.24 1.31 2.28
Long-Term Debt to EBITDA		 2.64 2.80 3.77 4.37 4.19 5.17 5.65 6.74 6.74 5.75
Debt to NOPAT		 3.72 6.83 8.91 7.59 6.80 8.77 10.23 10.41 10.24 8.00
Net Debt to NOPAT		 1.27 4.76 6.90 5.48 4.89 6.41 8.22 6.09 1.88 3.14
Long-Term Debt to NOPAT		 3.63 3.82 5.32 6.31 5.96 7.37 8.12 9.68 9.72 7.90
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 56 -44 -134 -3.49 -85 -39 -6.52 -65 -68 -0.64
Operating Cash Flow to CapEx		 1,518.06% 2,668.21% 3,459.78% 2,834.18% 1,019.04% 876.36% 770.03% 1,308.03% 4,398.67% 3,430.40%
Free Cash Flow to Firm to Interest Expense		 19.80 -12.45 -25.00 -0.46 -8.95 -3.64 -0.58 -5.47 -5.29 -0.05
Operating Cash Flow to Interest Expense		 4.42 2.26 1.78 1.02 0.89 0.73 0.51 0.73 0.51 0.94
Operating Cash Flow Less CapEx to Interest Expense		 4.13 2.18 1.73 0.98 0.81 0.64 0.44 0.67 0.50 0.91
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.04 0.05 0.05 0.04 0.04 0.04 0.04 0.04 0.04 0.04
Fixed Asset Turnover		 4.97 5.09 5.08 5.06 5.00 4.85 4.83 4.86 4.93 5.04
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 336 431 487 434 428 474 499 505 503 483
Invested Capital Turnover		 0.29 0.27 0.26 0.25 0.28 0.23 0.21 0.22 0.23 0.23
Increase / (Decrease) in Invested Capital		 -52 52 140 9.53 92 43 12 71 75 8.81
Enterprise Value (EV)		 34 439 489 411 384 474 475 413 340 364
Market Capitalization		 0.35 313 310 276 249 319 284 272 299 283
Book Value per Share		 $15,412.70 $16.09 $16.42 $16.15 $15.74 $17.18 $17.01 $17.12 $18.02 $17.86
Tangible Book Value per Share		 $11,830.96 $12.51 $12.87 $12.56 $12.13 $13.58 $13.45 $13.56 $14.46 $14.32
Total Capital		 336 431 487 434 428 474 499 505 503 483
Total Debt		 97 182 232 186 188 212 237 242 226 208
Total Long-Term Debt		 95 102 138 155 165 178 188 225 214 205
Net Debt		 33 127 179 134 135 155 191 142 42 81
Capital Expenditures (CapEx)		 0.83 0.30 0.28 0.28 0.83 0.88 0.74 0.66 0.15 0.35
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 97 182 232 186 188 212 237 242 226 208
Total Depreciation and Amortization (D&A)		 1.26 1.03 1.10 0.88 1.01 0.93 0.94 0.97 0.99 0.93
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.29 $0.50 $0.40 $0.39 $0.50 $0.28 $0.35 $0.40 $0.41 $0.53
Adjusted Weighted Average Basic Shares Outstanding		 15.50M 15.56M 15.36M 15.26M 15.27M 15.38M 15.38M 15.39M 15.41M 15.47M
Adjusted Diluted Earnings per Share		 $0.29 $0.50 $0.40 $0.39 $0.50 $0.28 $0.35 $0.40 $0.41 $0.53
Adjusted Weighted Average Diluted Shares Outstanding		 15.50M 15.56M 15.36M 15.26M 15.27M 15.38M 15.38M 15.39M 15.41M 15.47M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 15.50M 15.56M 15.36M 15.26M 15.27M 15.38M 15.38M 15.39M 15.41M 15.47M
Normalized Net Operating Profit after Tax (NOPAT)		 4.46 7.78 6.25 6.04 7.59 4.26 5.31 6.11 6.37 8.17
Normalized NOPAT Margin		 16.78% 27.39% 23.69% 22.38% 29.03% 16.86% 20.63% 22.39% 23.32% 29.17%
Pre Tax Income Margin		 20.01% 33.63% 29.03% 27.64% 36.09% 23.43% 25.11% 27.40% 28.63% 36.12%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 1.88 2.68 1.43 0.98 1.00 0.56 0.57 0.63 0.60 0.79
NOPAT to Interest Expense		 1.57 2.18 1.17 0.79 0.80 0.40 0.47 0.51 0.49 0.64
EBIT Less CapEx to Interest Expense		 1.59 2.60 1.38 0.94 0.91 0.47 0.51 0.57 0.59 0.76
NOPAT Less CapEx to Interest Expense		 1.28 2.10 1.12 0.75 0.72 0.32 0.40 0.46 0.48 0.61
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 60.88% 59.60% 60.82% 64.14% 56.56% 64.47% 66.78% 66.49% 70.32% 59.83%
Augmented Payout Ratio		 97.30% 94.73% 90.98% 91.73% 80.84% 92.57% 88.90% 70.27% 73.59% 62.25%

Key Financial Trends

Citizens & Northern Corp (NASDAQ:CZNC) has shown positive trends in profitability and operational performance over the last four years, with growing net income and modest improvements in earnings per share, supported by steady revenue growth and controlled expenses.

Key Positive Highlights:

  • Net income has consistently risen from around $4.4 million in Q3 2022 to over $8.1 million in Q4 2024, reflecting steady profitability improvement.
  • Earnings per share (basic and diluted) grew from about $0.29 in Q3 2022 to $0.53 in Q4 2024, indicating enhanced shareholder value.
  • Net interest income increased from approximately $20.9 million in Q3 2022 to $20.5 million in Q4 2024, showing strength in core banking operations.
  • Non-interest income saw improvement in most recent quarters, with significant contribution from trust fees and other non-interest sources, supporting diversified revenue streams.
  • Provision for credit losses was reduced to negative $531,000 in Q4 2024, which may indicate lower expected loan losses or positive credit conditions compared to prior periods.
  • Cash flow from operating activities increased to $12.1 million in Q4 2024 from $6.6 million in Q3 2024, suggesting improved operational cash generation.
  • Total assets grew steadily, with net loans and leases increasing from about $1.67 billion in Q3 2022 to $1.87 billion in Q3 2024, reflecting asset base expansion.
  • Equity increased from approximately $239 million in Q3 2022 to $277 million in Q3 2024, signaling a strengthening capital base.

Neutral Observations:

  • Interest expense has risen over time from $2.8 million in Q3 2022 to approximately $12.9 million in Q4 2024, partially offsetting revenue gains.
  • Total non-interest expense has generally remained stable around $18 to $19 million per quarter, showing moderate control over operating costs.

Potential Concerns or Negative Trends:

  • Significant volatility in non-interest income was noted in some quarters, including negative other service charges (e.g., -$4.1 million in Q4 2024 and -$3.8 million in Q4 2023), which could impact overall income stability.
  • Large swings in cash flows from financing activities each quarter, with sizable repayments and issuances of debt and deposits changes, indicating potential liquidity management challenges or strategic shifts in funding.
  • The company recorded losses or negative capital gains in some quarters (e.g., -$2.8 million in Q4 2023), which could pressure quarterly results.
  • Net change in cash and equivalents showed a significant decrease of $57.8 million in Q4 2024, mainly due to heavy financing outflows, which warrants monitoring of liquidity position.

Overall, Citizens & Northern has demonstrated improving profitability and capital strength through 2023 and 2024, underpinned by solid core banking income and disciplined expense management. However, investors should remain attentive to non-interest income volatility and cash flow fluctuations which may affect short-term earnings stability.

09/16/25 12:48 AM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Citizens & Northern's Financials

When does Citizens & Northern's financial year end?

According to the most recent income statement we have on file, Citizens & Northern's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Citizens & Northern's net income changed over the last 2 years?
Below is a breakdown of Citizens & Northern's net income over the past 5 years:
  • 2022: $26.62 million
  • 2023: $24.15 million
  • 2024: $25.96 million
Check out Citizens & Northern's forecast to explore projected trends and price targets.
How has Citizens & Northern's revenue changed over the last 2 years?

Over the last 2 years, Citizens & Northern's total revenue changed from $107.56 million in 2022 to $108.32 million in 2024, a change of 0.7%.

How much debt does Citizens & Northern have?

Citizens & Northern's total liabilities were at $2.34 billion at the end of 2024, a 3.6% increase from 2023, and a 5.9% increase since 2022.

How much cash does Citizens & Northern have?

In the past 2 years, Citizens & Northern's cash and equivalents has ranged from $21.11 million in 2024 to $25.81 million in 2022, and is currently $21.11 million as of their latest financial filing in 2024.

How has Citizens & Northern's book value per share changed over the last 2 years?

Over the last 2 years, Citizens & Northern's book value per share changed from 16.09 in 2022 to 17.86 in 2024, a change of 11.0%.


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This page (NASDAQ:CZNC) was last updated on 9/16/2025 by MarketBeat.com Staff
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