Citizens & Northern Corporation (CZNC)

Citizens & Northern Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	114	102.52	81.29	76.7	69.48	55.19
Interest Income on Investments	10.98	10.98	11.36	7.8	7.68	9.58
Total Interest Income	124.99	113.5	92.65	84.5	77.16	64.77
Interest Paid on Deposits	37.88	24.23	6.64	4.54	7.23	8.19
Interest Paid on Borrowings	8.87	8.87	2.88	2.02	2.36	2.09
Total Interest Expense	46.75	33.1	9.52	6.56	9.6	10.28
Net Interest Income	78.24	80.4	83.13	77.94	67.57	54.49
Net Interest Income Growth (YoY)	-5.85%	-3.28%	6.66%	15.35%	24.00%	19.22%
Trust Income	7.77	7.41	6.99	7.23	6.32	6.11
Gain (Loss) on Sale of Investments	-3.04	-3.04	0.02	0.02	0.17	0
Other Non-Interest Income	15.77	13.75	11.64	10.56	8.39	6.92
Total Non-Interest Income	27.34	24.42	24.43	25.88	24.51	19.31
Non-Interest Income Growth (YoY)	10.03%	-0.06%	-5.60%	5.58%	26.96%	-4.38%
Revenues Before Loan Losses	105.58	104.82	107.56	103.82	92.08	73.8
Provision for Loan Losses	3.68	0.19	7.26	3.66	3.91	0.85
Revenue	101.9	104.63	100.31	100.16	88.17	72.95
Revenue Growth (YoY)	-4.27%	4.31%	0.15%	13.60%	20.86%	11.69%
Salaries and Employee Benefits	41.86	41.48	39.4	35.35	31.1	24.97
Occupancy Expenses	4.88	4.71	4.93	4.49	4.09	2.42
Selling, General & Administrative	13.29	13.44	11.84	10.89	9.34	8.91
Other Non-Interest Expense	14.2	14.52	11.78	11.74	11.08	9.15
Total Non-Interest Expense	74.23	74.15	67.96	62.47	55.61	45.44
EBT Excluding Unusual Items	27.67	30.48	32.35	37.69	32.56	27.51
Other Unusual Items	-	-	-	-	-1.64	-
Pretax Income	27.67	30.48	32.35	37.69	23.21	23.41
Income Tax Expense	5.63	6.34	5.73	7.13	3.99	3.91
Net Income	22.05	24.15	26.62	30.55	19.22	19.5
Preferred Dividends & Other Adjustments	0.17	0.19	0.24	0.24	0.12	0.1
Net Income to Common	21.88	23.96	26.38	30.31	19.11	19.4
Net Income Growth	-20.32%	-9.28%	-12.88%	58.95%	-1.45%	-11.40%
Basic Shares Outstanding	15	15	15	16	15	13
Diluted Shares Outstanding	15	15	15	16	15	13
Shares Change (YoY)	-0.38%	-1.40%	-1.99%	6.95%	10.70%	8.68%
EPS (Basic)	1.44	1.57	1.71	1.92	1.30	1.46
EPS (Diluted)	1.44	1.57	1.71	1.92	1.30	1.46
EPS Growth	-19.82%	-8.02%	-11.10%	48.16%	-11.18%	-18.49%
Dividend Per Share	1.120	1.120	1.120	1.120	1.080	1.080
Dividend Growth	0%	0%	0%	3.70%	0%	0%
Effective Tax Rate	20.33%	20.78%	17.72%	18.93%	17.19%	16.68%

Source: S&P Capital IQ. Banks template. Financial Sources.