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	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	109.93	102.52	81.29	76.7	69.48	55.19
Interest Income on Investments	11.09	10.98	11.36	7.8	7.68	9.58
Total Interest Income	121.02	113.5	92.65	84.5	77.16	64.77
Interest Paid on Deposits	34.11	24.23	6.64	4.54	7.23	8.19
Interest Paid on Borrowings	9.16	8.87	2.88	2.02	2.36	2.09
Total Interest Expense	43.27	33.1	9.52	6.56	9.6	10.28
Net Interest Income	77.74	80.4	83.13	77.94	67.57	54.49
Net Interest Income Growth (YoY)	-7.79%	-3.28%	6.66%	15.35%	24.00%	19.22%
Trust Income	7.74	7.41	6.99	7.23	6.32	6.11
Gain (Loss) on Sale of Investments	-3.03	-3.04	0.02	0.02	0.17	0
Other Non-Interest Income	15.37	13.75	11.64	10.56	8.39	6.92
Total Non-Interest Income	26.7	24.42	24.43	25.88	24.51	19.31
Non-Interest Income Growth (YoY)	11.09%	-0.06%	-5.60%	5.58%	26.96%	-4.38%
Revenues Before Loan Losses	104.44	104.82	107.56	103.82	92.08	73.8
Provision for Loan Losses	1.25	0.19	7.26	3.66	3.91	0.85
Revenue	103.19	104.63	100.31	100.16	88.17	72.95
Revenue Growth (YoY)	1.34%	4.31%	0.15%	13.60%	20.86%	11.69%
Salaries and Employee Benefits	41.84	41.48	39.4	35.35	31.1	24.97
Occupancy Expenses	4.77	4.71	4.93	4.49	4.09	2.42
Selling, General & Administrative	13.19	13.44	11.84	10.89	9.34	8.91
Other Non-Interest Expense	14.1	14.52	11.78	11.74	11.08	9.15
Total Non-Interest Expense	73.9	74.15	67.96	62.47	55.61	45.44
EBT Excluding Unusual Items	29.3	30.48	32.35	37.69	32.56	27.51
Other Unusual Items	-	-	-	-	-1.64	-
Pretax Income	29.3	30.48	32.35	37.69	23.21	23.41
Income Tax Expense	6.03	6.34	5.73	7.13	3.99	3.91
Net Income	23.27	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	23.1	23.96	26.38	30.31	19.11	19.4
Net Income Growth	-5.13%	-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)	-0.91%	-1.40%	-1.99%	6.95%	10.70%	8.68%
EPS (Basic)	1.52	1.57	1.71	1.92	1.30	1.46
EPS (Diluted)	1.51	1.57	1.71	1.92	1.30	1.46
EPS Growth	-4.76%	-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	20.57%	20.78%	17.72%	18.93%	17.19%	16.68%

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