Citizens & northern corp (CZNC)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income

18,580

19,504

19,727

20,006

22,728

22,013

18,275

16,625

14,375

13,434

15,722

15,873

15,623

15,762

15,596

15,743

16,229

16,471

16,774

16,807

16,613

17,086

16,943

17,365

18,176

18,594

20,308

21,113

21,824

22,705

22,907

23,402

23,414

23,368

0

0

0

Adjustments to reconcile net income to net cash provided by operating activities:
Provision (credit) for loan losses

3,334

849

449

-649

-665

584

355

617

641

801

775

991

1,305

1,221

1,543

1,307

1,210

845

649

565

790

476

1,912

1,933

1,553

2,047

355

352

653

288

334

61

-275

-285

0

0

0

Realized gains on available-for-sale securities, net

-

-

-

-

-

-

-

-

-

-

-

-

920

1,158

2,865

2,360

3,170

2,861

1,295

1,976

1,147

1,104

1,160

593

590

1,718

1,503

3,740

3,843

2,682

0

0

0

-

-

-

-

Unrealized (gain) loss on marketable equity security

-

-

-

-

-

-

-

-

-15

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on prepayment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

-

-

-

-

Realized loss (gain) on foreclosed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

222

216

154

136

-49

-37

-99

-71

-38

-39

-173

-66

-66

4

164

41

0

0

0

Realized gains on available-for-sale securities, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Depreciation expense

-

-

-

-

-

-

-

-

-

-

-

1,628

1,585

1,589

1,634

1,717

1,827

1,888

1,912

1,910

1,911

1,940

1,967

1,987

2,007

2,020

2,018

1,996

1,957

1,939

1,937

1,983

2,034

2,077

0

0

0

Accretion and amortization on securities, net

-1,499

-1,341

-1,177

-1,037

-985

-1,044

-1,038

-1,086

-1,111

-1,157

-1,263

-1,385

-1,479

-1,462

-1,423

-1,431

-1,476

-1,562

-1,571

-1,492

-1,402

-1,375

-1,416

-1,558

-1,679

-1,836

-1,987

-2,117

-1,912

-1,581

-1,294

-980

-1,053

-1,317

0

0

0

Accretion and amortization on loans and deposits, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-23

-23

-25

-27

-27

-30

-31

-32

-34

-39

-45

-49

-48

-43

-39

-35

0

0

0

Decrease in fair value of servicing rights

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

199

229

249

27

0

0

0

-

-

-

-

188

89

83

76

68

0

0

0

Accretion and amortization on loans and deposits, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-27

-30

-31

-32

-34

-39

-45

-49

-48

-43

-39

-35

0

0

0

Impairment loss on limited partnership interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

948

0

0

0

Increase in cash surrender value of life insurance

414

402

395

390

389

394

393

390

386

379

377

377

376

382

378

376

385

386

392

396

385

376

376

386

394

399

409

411

429

455

475

491

506

509

0

0

0

Depreciation and amortization of bank premises and equipment

1,771

1,749

1,752

1,747

1,767

1,754

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other accretion and amortization, net

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation

763

798

1,001

948

901

855

653

644

643

628

573

579

588

582

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

554

588

621

696

685

648

613

567

524

483

472

423

0

0

0

Amortization of core deposit intangibles

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

25

29

31

35

39

43

47

51

56

62

68

74

84

94

104

114

0

0

0

Deferred income taxes

93

172

83

200

123

-187

1,960

1,940

2,048

2,155

-51

-85

-505

-156

-409

-5

261

79

786

621

1,073

1,254

938

1,323

1,190

1,839

2,704

3,838

4,212

3,760

3,802

2,751

2,810

3,818

0

0

0

Decrease in fair value of servicing rights

380

331

337

205

180

83

81

116

118

168

180

181

241

282

0

0

0

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Gains on sales of loans, net

1,152

924

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gains on sales of loans, net

-

-

-

-

-

-

-

-

836

818

981

920

1,027

1,029

861

868

756

735

784

682

764

768

966

1,329

1,616

1,969

2,313

2,434

2,255

2,016

1,693

1,331

1,113

1,107

0

0

0

Origination of loans held for sale

38,133

29,978

25,648

20,067

17,946

21,014

21,881

23,118

24,898

25,129

29,207

29,339

29,879

29,296

24,576

24,492

22,648

21,823

21,749

19,266

21,057

21,680

27,234

38,161

46,854

58,427

67,995

73,417

70,001

62,829

54,015

40,278

31,255

26,610

0

0

0

Proceeds from sales of loans held for sale

38,447

30,144

24,768

19,596

18,598

22,060

22,263

25,256

25,463

25,119

30,123

28,696

31,011

30,215

24,691

24,965

22,910

22,101

22,693

19,599

21,564

22,317

28,354

39,898

48,770

62,436

72,837

77,787

73,192

62,821

52,768

38,358

30,088

31,786

0

0

0

Increase in accrued interest receivable and other assets

49

-1,188

-344

213

1,819

413

664

-519

-333

595

-102

1,270

-178

410

-28

1,180

704

1,697

761

9

-507

-1,395

50

-708

-3,379

-3,234

-3,633

-4,179

-889

1,043

0

0

0

-

-

-

-

Decrease in accrued interest payable and other liabilities

-650

-2,068

1,126

92

222

1,957

1,755

1,068

1,291

1,312

221

1,001

-388

-216

49

218

419

1,195

215

-1,204

-1,564

-90

-1,758

718

2,252

-679

3,326

1,380

-1,037

674

0

0

0

-

-

-

-

Other

49

155

-139

24

339

271

330

228

76

139

46

83

33

44

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Increase) decrease in accrued interest receivable and other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

(Decrease) increase in accrued interest payable and other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Net Cash Provided by Operating Activities

23,768

22,461

23,711

21,269

22,382

25,892

22,801

23,990

21,529

19,374

0

0

0

-

-

-

19,714

19,686

21,070

18,869

19,539

22,281

20,605

25,562

30,140

30,572

36,738

36,822

31,128

27,652

27,510

23,772

27,920

37,464

0

0

0

Proceeds from maturities of certificates of deposit

480

580

100

1,560

1,560

2,280

2,280

820

1,068

348

828

1,788

1,540

1,540

2,840

1,880

1,880

1,780

1,840

2,080

2,320

2,560

960

960

720

480

0

0

0

-

-

-

-

-

-

-

-

Purchase of certificates of deposit

-

-

-

-

-

3,700

1,350

350

100

100

100

2,040

2,280

2,280

2,380

440

200

100

0

0

0

-

-

-

-

-

-

-

-

1,060

4,820

4,720

4,240

3,760

0

0

0

Proceeds from sales of available-for-sale debt securities

102,870

96,148

0

0

0

-

-

-

-

24,118

39,577

32,018

42,193

37,032

40,105

52,636

52,338

44,504

29,897

38,693

29,616

56,269

53,724

30,929

29,990

25,500

33,544

35,849

47,225

24,228

23,579

20,637

9,548

25,471

0

0

0

Proceeds from calls and maturities of available-for-sale debt securities

80,042

81,204

76,976

63,603

60,480

52,383

53,042

59,755

61,424

63,679

67,290

64,997

69,930

74,477

78,370

84,391

87,077

89,159

86,781

84,538

83,653

78,101

76,482

80,812

88,357

97,123

109,874

109,475

109,582

114,247

109,920

110,507

108,636

108,138

0

0

0

Purchase of available-for-sale debt securities

61,714

57,655

72,174

94,322

98,637

90,015

77,882

64,455

43,641

51,476

72,525

54,506

85,191

91,896

64,745

51,929

27,063

40,363

67,420

110,328

151,042

158,894

160,529

150,254

153,102

152,163

137,645

148,993

130,527

126,820

151,200

135,919

137,333

152,044

0

0

0

Redemption of Federal Home Loan Bank of Pittsburgh stock

11,489

10,137

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Redemption of Federal Home Loan Bank of Pittsburgh stock

-

-

-

-

-

-

-

-

-7,787

-7,288

-7,103

-6,689

-5,471

-5,277

-4,899

-5,629

-6,841

-5,029

-5,618

-3,870

-2,334

-2,804

-979

-1,883

-2,942

-2,680

-3,387

-3,056

-2,292

-1,931

-1,571

-1,365

-1,437

-1,513

0

0

0

Purchase of Federal Home Loan Bank of Pittsburgh stock

10,190

9,208

7,338

5,907

5,348

5,301

7,567

8,754

8,994

9,418

7,407

6,652

6,275

5,046

5,792

6,742

8,457

8,102

5,031

3,439

1,028

602

1,044

922

1,744

1,624

0

0

0

-

-

-

-

-

-

-

-

Net decrease in loans

83,130

96,628

58,677

39,165

11,006

14,492

24,771

42,184

56,450

65,225

59,566

53,087

61,978

49,085

64,503

67,727

76,218

77,129

53,789

44,084

6,034

-10,317

-15,870

-30,337

-39,610

-39,059

-48,201

-48,131

-29,428

-22,320

-6,255

-7,999

-18,151

-19,264

0

0

0

Proceeds from bank owned life insurance

0

796

795

795

2,238

1,442

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of premises and equipment

3,674

2,870

1,505

1,405

1,196

1,167

1,450

1,445

1,419

1,697

1,601

1,799

1,947

1,580

1,494

1,220

1,050

1,039

1,057

1,134

1,078

801

0

0

0

-

-

-

-

1,622

1,760

1,760

1,138

998

0

0

0

Proceeds from disposition of premises and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

42

0

0

0

-

-

-

-

-

-

-

-

Purchase of investment in limited liability company

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

147

147

151

350

538

735

731

611

397

0

0

0

Return of principal on limited liability entity investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

181

185

185

173

163

176

169

164

160

142

124

114

103

93

73

116

0

0

0

Proceeds from sale of foreclosed assets

2,845

1,768

2,777

1,402

1,991

2,418

1,733

1,986

1,521

1,387

1,213

891

1,008

539

511

2,171

2,345

2,536

3,421

1,783

1,425

1,504

469

619

516

255

515

536

531

1,380

1,592

1,740

1,970

1,112

0

0

0

Other

-198

-174

-170

-169

-173

-178

-175

-200

-196

-191

-210

-174

-178

-181

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Cash Provided by Investing Activities

37,438

22,668

52,315

53,770

-19,701

-21,648

-29,624

-35,985

-28,346

-30,905

0

0

0

-

-

-

39,622

18,409

923

-27,311

-40,566

-9,486

-14,405

-7,690

5,063

8,880

55,709

46,105

56,522

34,636

-15,040

4,167

995

2,917

0

0

0

CASH FLOWS FROM FINANCING ACTIVITIES:
Net (decrease) increase in deposits

-13,750

-4,822

27,357

19,804

21,830

25,323

22,322

43,637

37,830

24,606

29,745

29,311

24,403

48,228

30,768

-10,498

-20,786

-32,374

-20,417

-790

14,801

13,473

18,064

28,470

-6,141

-51,590

-49,545

-78,687

-48,829

-12,106

17,269

34,079

6,782

13,839

0

0

0

Net decrease in short-term borrowings

-79,205

-38,307

-98,814

-101,306

-21,350

-48,913

682

8,294

5,738

35,591

-6,851

-16,827

-5,208

-27,321

4,346

5,896

20,112

47,959

3,479

15,169

1,110

-17,848

1,932

-11,750

93

17,818

-14,824

12,145

607

617

423

-16,101

-12,038

-13,463

0

0

0

Proceeds from long-term borrowings

69,391

48,500

57,500

37,500

29,000

33,000

29,000

26,000

17,000

8,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of long-term borrowings

35,176

38,173

37,660

31,656

14,278

6,274

27,271

37,267

37,266

37,265

10,282

294

304

313

25,967

25,964

36,869

36,866

11,199

11,195

282

278

274

271

3,391

11,497

17,572

39,779

41,897

43,884

40,403

23,287

23,138

23,132

0

0

0

Sale of treasury stock

160

198

294

322

288

189

122

111

137

127

235

244

282

263

128

103

136

381

403

415

340

123

115

151

193

184

178

193

181

229

274

210

169

71

0

0

0

Purchase of vested restricted stock

163

189

189

189

189

0

0

0

0

-

-

-

-

3,723

4,194

4,723

4,463

4,415

5,482

7,417

7,024

4,002

0

0

0

-

-

-

-

-

-

-

0

-

-

-

-

Tax benefit from compensation plans

-

-

-

-

-

-

-

-

-

-

-

-

-

175

171

169

162

159

154

161

159

157

153

143

136

124

126

143

124

118

102

66

74

67

0

0

0

Common dividends paid

13,307

14,041

13,662

13,274

12,880

11,746

11,611

11,478

11,337

11,145

11,110

11,080

11,059

11,112

11,137

11,167

11,205

11,245

11,269

11,324

11,374

11,392

11,302

11,171

11,043

10,916

10,779

10,424

9,845

9,061

8,174

7,409

6,762

6,227

0

0

0

Net Cash Used in Financing Activities

-72,050

-46,834

-65,174

-88,799

2,421

-8,421

13,244

29,297

12,102

19,914

0

0

0

-

-

-

-52,913

-36,401

-44,331

-14,981

-2,270

-19,767

6,224

5,572

-20,153

-55,877

-92,416

-116,409

-99,659

-64,087

-30,548

-12,893

-35,935

-29,867

0

0

0

(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS

-10,844

-1,705

10,852

-13,760

5,102

-4,177

6,421

17,302

5,285

8,383

-492

7,435

-9,370

-4,692

2,309

-7,009

6,423

1,694

-22,338

-23,423

-23,297

-6,972

12,424

23,444

15,050

-16,425

31

-33,482

-12,009

-1,799

-18,078

15,046

-7,020

10,514

0

0

0

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Right-of-use assets recognized at adoption of ASU 2016-02

0

1,132

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Leased assets obtained in exchange for new operating lease liabilities

399

745

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Assets acquired through foreclosure of real estate loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

490

561

556

1,004

815

889

2,076

1,769

0

0

0

Accrued purchase of available-for-sale securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

226

354

1,312

925

0

0

0

0

-

-

0

0

-

-

0

0

Assets acquired through foreclosure of real estate loans

1,654

2,053

1,894

858

2,847

2,520

2,821

2,818

796

940

608

965

1,354

1,508

1,508

3,044

2,295

2,523

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued purchase of available-for-sale debt security

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest paid

10,874

9,601

8,005

6,364

4,928

4,529

4,237

4,019

3,961

3,934

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued redemption of bank-owned life insurance policy

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

4,340

-

4,775

4,955

5,049

5,138

5,233

5,329

5,463

5,782

6,291

7,169

8,282

9,246

10,184

11,032

12,133

13,609

0

0

0

Income taxes paid

3,226

3,234

3,000

3,952

4,202

4,277

4,527

4,553

4,838

4,913

5,107

5,279

5,104

5,129

4,717

4,667

4,877

4,827

4,665

4,243

4,337

4,432

4,409

5,061

4,283

4,213

2,966

2,186

4,150

4,250

5,466

6,266

3,912

3,616

0

0

0