Citizens & Northern Corporation (CZNC) 10-Year Financial Performance & Capital Metrics

CZNC • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutCitizens & Northern Corporation operates as the bank holding company for Citizens & Northern Bank that provides a range of banking and mortgage services to individual and corporate customers. The company offers lending products include commercial, mortgage, and consumer loans, as well as specialized instruments, such as commercial letters-of-credit; and deposit products, including various types of checking accounts, passbook and statement savings accounts, money market accounts, interest checking accounts, individual retirement accounts, and certificates of deposits. It also offers wealth management services, including administration of trusts and estates, retirement plans, and other employee benefit plans, and investment management services; and a range of personal and commercial insurance products; mutual funds, annuities, educational savings accounts, and other investment products through registered agents. In addition, the company reinsures credit and mortgage, life and accident, and health insurance products. As of December 31, 2021, it had 31 branch offices, including 23 in the Northern tier/Northcentral region of Pennsylvania, 2 in the Southern tier of New York State, 4 in Southeastern Pennsylvania, and 2 in Southcentral Pennsylvania, as well as a lending office in Elmira, New York. The company was founded in 1864 and is based in Wellsboro, Pennsylvania.Show more

Net Interest Income $79M -1.6%
Total Revenue $155M +14.1%
Net Income $26M +7.5%
Return on Equity 9.66% +2.3%
Net Interest Margin 3.03% -5.2%
Efficiency Ratio 46.59% -12.4%
ROA 1.01% +4.2%
Equity / Assets 10.54% +1.1%
Book Value per Share 18.04 +4.8%
Tangible BV/Share 14.46 +6.3%
Debt/Equity 0.75 -6.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 46.6% efficiency ratio
✓Well capitalized: 10.5% equity/assets
✓Healthy dividend yield of 4.7%
✓Trading near 52-week high
✓Trading at only 1.2x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.7%

5Y13.38%

3Y12.58%

TTM-

Profit (Net Income) CAGR

10Y4.27%

5Y5.88%

3Y-5.29%

TTM23.09%

EPS CAGR

10Y2.05%

5Y2.97%

3Y-4.16%

TTM22.22%

ROCE

10Y Avg9.36%

5Y Avg8.14%

3Y Avg7.9%

Latest6.5%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.37B	31.13	56.60	0.1%	4.5%	4.02%	6.79%	0.70
EBCEastern Bankshares, Inc.	4.4B	19.56	29.64	91.64%	11.17%	1.3%	6.14%	0.01
LYGLloyds Banking Group plc	80.5B	5.48	21.92	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	26.03B	60.61	20.00	1.31%	12.22%	6.6%	7.22%	0.51
PFSProvident Financial Services, Inc.	2.65B	20.29	19.32	63.91%	10.13%	7.51%	16.04%	0.93
CBUCommunity Bank System, Inc.	3.3B	62.73	18.24	24.44%	19.4%	10.34%	6.71%	0.57
VLYValley National Bancorp	6.7B	12.02	17.42	6.51%	10.65%	6.53%	8.18%	0.50
INDBIndependent Bank Corp.	3.8B	76.62	16.95	6.89%	19.72%	7.76%	5.51%	0.23

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	39.63M	40.34M	41.93M	45.68M	54.47M	67.56M	77.94M	83.13M	80.4M	79.11M
NII Growth %	-0.02%	0.02%	0.04%	0.09%	0.19%	0.24%	0.15%	0.07%	-0.03%	-0.02%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	44.23M	44.03M	45.84M	50.31M	64.75M	77.16M	84.5M	92.65M	113.5M	128.08M
Interest Expense	4.6M	3.69M	3.92M	4.63M	10.28M	9.6M	6.56M	9.52M	33.1M	48.96M
Loan Loss Provision	845K	1.22M	801K	584K	849K	3.91M	3.66M	7.25M	186K	2.19M
Non-Interest Income+	17.64M	15.6M	15.15M	19.35M	18.23M	23.28M	24.45M	22.83M	22.73M	27.39M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	61.87M	59.63M	60.99M	69.65M	82.97M	100.44M	108.95M	115.48M	136.24M	155.47M
Revenue Growth %	0%	-0.04%	0.02%	0.14%	0.19%	0.21%	0.08%	0.06%	0.18%	0.14%
Non-Interest Expense	34.62M	33.61M	35.68M	38.18M	48.43M	63.72M	61.04M	66.35M	72.47M	72.44M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	21.81M	21.11M	20.59M	26.26M	23.41M	23.21M	37.69M	32.35M	30.48M	31.87M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.04%	-0.03%	-0.02%	0.28%	-0.11%	-0.01%	0.62%	-0.14%	-0.06%	0.05%
Pretax Income+	21.81M	21.11M	20.59M	26.26M	23.41M	23.21M	37.69M	32.35M	30.48M	31.87M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	5.34M	5.35M	7.16M	4.25M	3.9M	3.99M	7.13M	5.73M	6.33M	5.91M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	16.47M	15.76M	13.43M	22.01M	19.5M	19.22M	30.55M	26.62M	24.15M	25.96M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.04%	-0.04%	-0.15%	0.64%	-0.11%	-0.01%	0.59%	-0.13%	-0.09%	0.07%
Net Income (Continuing)	16.47M	15.76M	13.43M	22.01M	19.5M	19.22M	30.55M	26.62M	24.15M	25.96M
EPS (Diluted)+	1.35	1.30	1.10	1.80	1.46	1.29	1.92	1.71	1.57	1.69
EPS Growth %	-0.02%	-0.04%	-0.15%	0.64%	-0.19%	-0.12%	0.49%	-0.11%	-0.08%	0.08%
EPS (Basic)	1.35	1.30	1.10	1.80	1.46	1.30	1.92	1.71	1.57	1.69
Diluted Shares Outstanding	12.17M	12.06M	12.14M	12.26M	13.32M	14.75M	15.77M	15.46M	15.24M	15.26M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	36.06M	32.11M	40.24M	37.49M	35.2M	101.86M	104.95M	55.05M	56.88M	126.17M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	1.12B	1.14B	1.16B	1.18B	1.52B	1.98B	2.07B	2.22B	2.24B	2.28B
Investments Growth %	-0.02%	0.02%	0.02%	0.02%	0.29%	0.3%	0.04%	0.07%	0.01%	0.01%
Long-Term Investments	697.27M	743.5M	808.59M	819.42M	1.17B	1.63B	1.55B	1.72B	1.83B	2.06B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	11.94M	11.94M	11.94M	11.94M	28.39M	52.51M	52.51M	52.51M	52.51M	52.51M
Intangible Assets	30K	17K	12K	9K	1.25M	3.85M	3.32M	2.88M	2.47M	2.08M
PP&E (Net)	15.41M	15.4M	15.43M	14.59M	17.17M	21.53M	20.68M	21.57M	21.63M	21.34M
Other Assets	35.53M	35.17M	37.46M	36.09M	43.66M	66.21M	64.08M	71.31M	110.83M	102.53M
Total Current Assets	460.12M	431.15M	400.23M	404.73M	386.93M	459.48M	629.86M	561.73M	481.77M	357.34M
Total Non-Current Assets	763.3M	811.14M	876.73M	886.16M	1.27B	1.78B	1.7B	1.89B	2.03B	2.25B
Total Assets+	1.22B	1.24B	1.28B	1.29B	1.65B	2.24B	2.33B	2.45B	2.52B	2.61B
Asset Growth %	-0.01%	0.02%	0.03%	0.01%	0.28%	0.35%	0.04%	0.05%	0.02%	0.04%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	8.05M	7.81M	9.11M	10.98M	12.19M	27.69M	23.63M	25.61M	0	0
Total Debt+	92.26M	64.63M	70.95M	48.77M	144.85M	91.18M	77.56M	181.78M	211.76M	207.67M
Net Debt	56.2M	32.52M	30.71M	11.28M	109.64M	-10.67M	-27.39M	126.73M	154.88M	81.5M
Long-Term Debt	11.77M	11.45M	9.19M	35.91M	58.63M	71.16M	75.75M	62.6M	177.88M	205.18M
Short-Term Debt	80.5M	53.17M	61.77M	12.85M	86.22M	20.02M	1.8M	119.18M	33.87M	2.49M
Other Liabilities	0	0	0	0	0	0	0	0	26.64M	33.79M
Total Current Liabilities	1.02B	1.04B	1.08B	1.06B	1.35B	1.87B	1.95B	2.14B	2.05B	2.1B
Total Non-Current Liabilities	11.77M	11.45M	9.19M	35.91M	58.63M	71.16M	75.75M	62.6M	204.52M	238.97M
Total Liabilities	1.04B	1.06B	1.09B	1.09B	1.41B	1.94B	2.03B	2.2B	2.25B	2.34B
Total Equity+	187.49M	186.01M	188.44M	197.37M	244.45M	299.76M	301.4M	249.32M	262.38M	275.28M
Equity Growth %	-0%	-0.01%	0.01%	0.05%	0.24%	0.23%	0.01%	-0.17%	0.05%	0.05%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.09%	0.08%	0.07%	0.11%	0.09%	0.07%	0.1%	0.1%	0.09%	0.1%
Book Value per Share	15.40	15.42	15.52	16.10	18.35	20.33	19.11	16.13	17.21	18.04
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	12.65M	12.65M	12.65M	12.65M	13.94M	15.98M	16.03M	16.03M	16.03M	16.03M
Additional Paid-in Capital	71.65M	71.73M	72.03M	72.6M	104.52M	143.64M	144.45M	143.95M	144.39M	143.56M
Retained Earnings	109.45M	112.79M	113.61M	122.64M	126.48M	129.7M	142.61M	151.74M	157.03M	165.78M
Accumulated OCI	2.53M	-898K	-1.51M	-4.17M	3.69M	11.79M	5.03M	-49.88M	-38.44M	-36.76M
Treasury Stock	-8.8M	-10.27M	-8.35M	-6.36M	-4.17M	-1.37M	-6.72M	-12.52M	-16.63M	-13.33M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	19.69M	18.51M	19.37M	25.89M	22.46M	24.78M	34.84M	34.6M	33.55M	33.03M
Operating CF Growth %	-0.12%	-0.06%	0.05%	0.34%	-0.13%	0.1%	0.41%	-0.01%	-0.03%	-0.02%
Net Income	16.47M	15.76M	13.43M	22.01M	19.5M	19.22M	30.55M	26.62M	24.15M	25.96M
Depreciation & Amortization	1.89M	1.6M	1.64M	1.75M	1.75M	1.98M	2.13M	2.39M	2.15M	2.18M
Deferred Taxes	79K	-156K	2.15M	-187K	172K	-361K	-1.38M	-400K	836K	-1.5M
Other Non-Cash Items	1.37M	1.46M	1.01M	224K	1.19M	3M	2.44M	9.4M	4.88M	1.76M
Working Capital Changes	-726K	-726K	506K	1.23M	-951K	-111K	-109K	-4.67M	58K	3.15M
Cash from Investing+	18.41M	-29.4M	-30.91M	-21.65M	22.67M	96.58M	-103.89M	-234.69M	-53.2M	-20.94M
Purchase of Investments	-40.36M	-91.9M	-51.48M	-90.02M	-57.66M	-105.35M	-243.93M	-113.72M	-23.41M	-25.79M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	-1.78M	75.95M	0	0	0	0
Other Investing	-73.85M	-47.43M	-65.53M	-11.03M	-92.38M	5.69M	78.18M	-180.46M	-140.66M	-32.43M
Cash from Financing+	-36.4M	6.2M	19.91M	-8.42M	-46.83M	-56.47M	68.88M	151.94M	24.73M	58.7M
Dividends Paid	-11.24M	-11.11M	-11.14M	-11.75M	-14.04M	-14.47M	-15.98M	-15.87M	-15.57M	-15.53M
Share Repurchases	-4.42M	-3.72M	0	0	-189K	-163K	-7.59M	-9.35M	-6.78M	-629K
Stock Issued	381K	263K	127K	189K	198K	131K	212K	160K	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	-1000K	1000K	-1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K
Other Financing	-32.22M	48.4M	24.73M	25.32M	-4.82M	86.94M	105.38M	72.69M	17.23M	79.11M
Net Change in Cash+	1.69M	-4.69M	8.38M	-4.18M	-1.71M	64.89M	-169K	-48.15M	5.08M	70.8M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	31.62M	33.31M	28.62M	37M	32.83M	31.12M	96.02M	95.85M	47.7M	52.78M
Cash at End	33.31M	28.62M	37M	32.83M	31.12M	96.02M	95.85M	47.7M	52.78M	123.57M
Interest Paid	4.64M	3.7M	3.93M	4.53M	9.6M	10.74M	8.17M	9.5M	31.94M	48.56M
Income Taxes Paid	4.83M	5.13M	4.91M	4.28M	3.23M	3.14M	10.1M	5.56M	6.38M	4.84M
Free Cash Flow+	18.65M	16.93M	17.68M	24.73M	19.59M	21.65M	32.98M	31.31M	31.28M	31.13M
FCF Growth %	-0.13%	-0.09%	0.04%	0.4%	-0.21%	0.1%	0.52%	-0.05%	-0%	-0%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.76%	8.44%	7.18%	11.41%	8.83%	7.06%	10.17%	9.67%	9.44%	9.66%
Return on Assets (ROA)	1.34%	1.28%	1.07%	1.71%	1.32%	0.99%	1.34%	1.11%	0.97%	1.01%
Net Interest Margin	3.24%	3.25%	3.28%	3.54%	3.29%	3.02%	3.35%	3.39%	3.2%	3.03%
Efficiency Ratio	55.95%	56.36%	58.51%	54.82%	58.37%	63.44%	56.03%	57.46%	53.19%	46.59%
Equity / Assets	15.32%	14.97%	14.76%	15.29%	14.78%	13.39%	12.95%	10.16%	10.43%	10.54%
Book Value / Share	15.4	15.42	15.52	16.1	18.35	20.33	19.11	16.13	17.21	18.04
NII Growth	-2.33%	1.77%	3.95%	8.95%	19.23%	24.05%	15.35%	6.66%	-3.28%	-1.6%
Dividend Payout	68.27%	70.5%	82.96%	53.36%	71.99%	75.27%	52.29%	59.6%	64.47%	59.83%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Deposit Account	5.17M	5.36M	4.23M	4.63M	5.02M	5.57M	5.87M
Deposit Account Growth	-	3.62%	-21.03%	9.50%	8.33%	10.92%	5.39%
Debit Card	2.55M	2.75M	3.09M	3.85M	4.15M	4.16M	4.28M
Debit Card Growth	-	8.17%	12.35%	24.60%	7.60%	0.29%	2.79%
Bank Servicing	347K	100K	-61K	694K	960K	602K	649K
Bank Servicing Growth	-	-71.18%	-161.00%	1237.70%	38.33%	-37.29%	7.81%
Trust and Asset Management	5.84M	6.11M	-	7.23M	-	-	-
Trust and Asset Management Growth	-	4.59%	-	-	-	-	-
Trust And Asset Management	-	-	6.32M	-	-	-	-
Trust And Asset Management Growth	-	-	-	-	-	-	-
Service Charges And Fees	-	-	304K	-	-	-	-
Service Charges And Fees Growth	-	-	-	-	-	-	-
Service Charges and Fees	343K	332K	-	-	-	-	-
Service Charges and Fees Growth	-	-3.21%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Citizens & Northern Corporation (CZNC) has a price-to-earnings (P/E) ratio of 12.8x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Citizens & Northern Corporation (CZNC) grew revenue by 14.1% over the past year. This is steady growth.

Yes, Citizens & Northern Corporation (CZNC) is profitable, generating $27.1M in net income for fiscal year 2024 (16.7% net margin).

Dividend & Returns

Yes, Citizens & Northern Corporation (CZNC) pays a dividend with a yield of 4.71%. This makes it attractive for income-focused investors.

Citizens & Northern Corporation (CZNC) has a return on equity (ROE) of 9.7%. This is below average, suggesting room for improvement.

Industry Metrics

Citizens & Northern Corporation (CZNC) has a net interest margin (NIM) of 3.0%. This indicates healthy earnings from lending activities.

Citizens & Northern Corporation (CZNC) has an efficiency ratio of 46.6%. This is excellent, indicating strong cost control.

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