CITIZENS & NORTHERN CORP CZNC Income Statement

Citizens & northern corp (CZNC)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest and fees on loans:
Taxable
14,461	14,640	14,400	14,098	9,948	-	9,754	9,575	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Taxable
-	-	-	-	-	-	-	-	9,201	9,035	8,889	8,609	8,374	8,420	8,347	8,086	7,974	7,998	7,851	7,753	7,709	8,004	8,040	8,085	7,998	8,489	8,742	9,028	9,225	9,849	9,996	10,242	10,366	10,666	10,790	10,854	10,868	11,153	11,009
Tax-exempt
459	507	509	524	564	565	561	560	556	555	531	501	450	426	457	452	448	458	470	391	349	348	348	334	373	359	337	323	362	392	395	375	377	380	372	372	375	395	399
Interest on loans to political subdivisions
459	507	509	524	564	565	561	560	556	555	531	501	450	-	457	452	-	-	-	-	-	-	348	334	373	359	337	323	362	392	395	375	377	380	372	372	375	395	399
Interest on mortgages held for sale
6	8	5	6	3	5	3	4	2	5	10	6	4	6	7	8	6	6	5	3	2	3	5	5	3	7	14	12	21	33	42	23	9	-	9	-	-	-	-
Interest on balances with depository institutions
81	90	159	149	116	96	173	96	50	50	67	41	32	27	29	36	24	20	22	25	26	30	33	32	30	29	25	23	28	24	31	31	28	28	13	16	16	26	38
Income from available-for-sale debt securities:
Income from available-for-sale securities:
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on trading securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Taxable
1,588	1,616	1,732	1,826	1,834	1,821	1,624	1,381	1,363	1,388	1,335	1,352	1,403	1,372	1,429	1,490	1,555	1,637	1,758	1,934	1,974	1,968	1,990	1,961	1,802	1,790	1,640	1,663	1,717	1,832	2,019	2,520	2,658	2,710	2,784	2,849	2,693	2,641	2,699
Tax-exempt
437	423	466	531	594	674	680	712	713	746	789	826	844	851	835	847	896	866	949	1,013	1,016	1,049	1,070	1,080	1,111	1,145	1,185	1,243	1,212	1,282	1,275	1,265	1,263	1,296	1,285	1,291	1,284	1,223	1,184
Dividends on marketable equity security
5	6	6	5	6	6	5	6	5	6	5	5	5	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends
-	-	-	-	-	-	-	-	-	-	-	-	-	4	27	5	34	51	79	67	87	66	86	66	89	66	84	63	82	79	78	73	75	74	64	61	62	57	57
Total interest and dividend income
17,037	17,290	17,277	17,139	13,065	13,304	12,800	12,334	11,890	11,785	11,626	11,340	11,112	11,106	11,131	10,924	10,937	11,036	11,134	11,186	11,163	11,468	11,572	11,563	11,406	11,885	12,027	12,355	12,647	13,491	13,836	14,529	14,776	15,198	15,317	15,443	15,298	15,495	15,386
INTEREST EXPENSE
Interest on deposits
2,155	2,313	2,461	2,363	1,053	1,061	1,033	879	729	668	639	575	521	535	549	522	479	472	487	479	486	513	543	553	554	605	647	673	778	1,028	1,158	1,271	1,350	1,502	1,775	2,267	2,568	2,916	3,058
Interest on short-term borrowings
198	280	146	228	79	46	39	82	199	82	9	45	77	22	30	41	62	17	9	5	1	2	1	1	5	3	3	2	1	4	2	1	3	3	6	8	6	15	51
Interest on long-term borrowings
295	290	277	228	218	205	169	118	65	249	337	358	355	363	365	362	363	598	630	692	726	742	743	736	729	746	746	740	821	868	1,068	1,129	1,149	1,299	1,327	1,353	1,442	1,708	1,927
Interest on subordinated debt
107	116	116	115	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total interest expense
2,755	2,999	3,000	2,934	1,350	1,312	1,241	1,079	993	999	985	978	953	920	944	925	904	1,087	1,126	1,176	1,213	1,257	1,287	1,290	1,288	1,354	1,396	1,415	1,600	1,900	2,228	2,401	2,502	2,804	3,108	3,628	4,016	4,639	5,036
Net interest income
14,282	14,291	14,277	14,205	11,715	11,992	11,559	11,255	10,897	10,786	10,641	10,362	10,159	10,186	10,187	9,999	10,033	9,949	10,008	10,010	9,950	10,211	10,285	10,273	10,118	10,531	10,631	10,940	11,047	11,591	11,608	12,128	12,274	12,394	12,209	11,815	11,282	10,856	10,350
Provision (credit) for loan losses
1,528	652	1,158	-4	-957	252	60	-20	292	23	322	4	452	-3	538	318	368	319	302	221	3	123	218	446	-311	1,559	239	66	183	-133	236	367	-182	-87	-37	31	-192	189	76
Net interest income after provision (credit) for loan losses
12,754	13,639	13,119	14,209	12,672	11,740	11,499	11,275	10,605	10,763	10,319	10,358	9,707	10,189	9,649	9,681	9,665	9,630	9,706	9,789	9,947	10,088	10,067	9,827	10,429	8,972	10,392	10,874	10,864	11,724	11,372	11,761	12,456	12,481	12,246	11,784	11,474	10,667	10,274
NONINTEREST INCOME
Service charges on deposit accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	1,172	1,221	1,164	1,138	1,235	1,302	1,305	1,022	1,213	1,275	1,314	1,223	1,421	1,357	1,242	1,226	1,615	1,290	1,256	1,161	1,187	1,230	1,225	1,131	1,166	1,190
Service charges and fees
-	-	-	-	-	-	-	-	-	-	-	-	-	104	118	123	94	121	137	123	113	133	144	134	127	153	165	145	134	-51	239	235	220	206	218	207	218	191	210
Trust and financial management revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	1,193	1,172	1,251	1,144	1,148	1,123	1,241	1,114	1,165	1,140	1,138	1,047	1,065	1,033	1,045	944	-	873	960	-	-	-	-	-	-	-
Brokerage revenue
333	265	333	361	307	300	235	271	212	246	187	208	156	187	216	180	173	199	215	206	219	219	213	242	227	198	205	237	144	-	-	-	-	-	-	-	-	-	-
Insurance commissions, fees and premiums
33	18	71	48	30	33	15	13	44	17	26	31	41	28	26	27	21	22	24	23	40	15	44	27	32	34	32	59	45	52	62	73	34	65	66	58	68	65	61
Net gains from sale of loans
315	306	310	221	87	-	164	166	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interchange revenue from debit card transactions
-	-	-	-	-	-	-	-	-	-	-	-	-	512	481	487	463	479	482	500	474	485	504	517	453	-	484	-	-	-	-	-	-	-	-	-	-	-	-
Trust and financial management revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	929	-	785	946	877	876	830
Interchange revenue from debit card transactions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	505	464	-	477	488	495	495	490	485	452	427	423
Net gains from sale of loans
-	-	-	-	-	-	-	-	184	167	297	188	166	330	236	295	168	162	243	183	147	211	141	265	151	409	504	552	504	753	625	373	265	430	263	155	259	275	137
Loan servicing fees, net
-	-	-	-	-	-	-	-	-	-	-	-	-	64	28	-11	22	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in fair value of servicing rights
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-13	-	-	62	17	53	-105	17	-79	3	-8	-	-	-	-	-	-	-	-	-	-
Increase in cash surrender value of life insurance
104	106	105	99	92	99	100	98	97	98	97	94	90	96	97	93	96	92	95	102	97	98	99	91	88	98	109	99	93	108	111	117	119	128	127	132	122	121	119
Net (loss) from premises and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1	-33	-117	-	9	-1	-	-	14	0	-	-	-	-	-	-	-	-	-	-	-
Impairment loss on limited partnership investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	948	-	0
Other noninterest income
987	438	470	437	530	813	361	529	450	262	288	267	458	345	289	297	371	187	328	312	447	333	335	306	298	305	311	310	281	-596	445	777	432	295	820	465	376	441	290
Sub-total
-	-	4,963	4,849	-	-	4,462	4,689	-	4,117	4,066	4,106	3,864	4,031	3,884	3,906	3,690	3,999	3,961	3,962	3,556	3,802	3,887	3,980	3,751	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on restricted equity security
-	-	0	0	-	-	571	1,750	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Realized gains (losses) on available-for-sale debt securities, net
-	-	13	7	-	-	-2	-282	-	-	5	107	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sub-total
-	-	4,963	4,849	-	-	4,462	4,689	-	4,117	4,066	4,106	3,864	-	3,884	3,906	-	-	-	-	-	-	3,887	3,980	3,751	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sub-total
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,293	4,191	3,843	-	4,122	4,279	3,655	-	-	-	-	-	-
Total other-than-temporary impairment losses on available-for-sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	25	0	0	0	67	-	-	-	-	-	-
Sub-total
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,999	3,673	2,555	3,562	3,260
Total other-than-temporary impairment losses on available-for-sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0
Portion of (gain) recognized in other comprehensive loss (before taxes)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	0	0	0	0	-	2
Net impairment losses recognized in earnings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	25	0	0	0	67	-	-	-	-	-	-
Realized gains on securities, net
-	-	-	-	-	-	-	-	-	-	-	-	145	69	584	122	383	1,776	79	932	74	210	760	103	31	266	193	100	1,184	181	2,430	203	-65	-	-	-	-	-	-
Net realized gains recognized in earnings on available-for-sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,430	203	-2	-	-	-	-	-	-
Net impairment losses recognized in earnings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	2
Realized gains on available-for-sale securities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-26	-163	-1,839	-388	-321
Net realized gains on available-for-sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26	163	1,839	388	319
Total noninterest income
5,281	5,069	4,976	4,856	4,406	5,036	5,031	6,157	4,406	4,117	4,071	4,213	4,009	4,100	4,468	4,028	4,073	5,775	4,040	4,894	3,630	4,012	4,647	4,083	3,782	4,390	4,486	4,291	5,002	4,378	6,552	4,482	3,653	3,858	4,025	3,836	4,394	3,950	3,579
NONINTEREST EXPENSE
Salaries and wages
5,340	5,395	5,480	5,276	4,493	4,611	4,263	4,193	4,124	3,981	3,985	3,972	3,868	3,710	3,901	3,913	3,887	3,848	3,744	3,603	3,487	3,562	4,348	3,646	3,565	3,435	3,536	3,635	3,600	3,615	3,594	3,586	3,575	3,545	3,451	3,469	3,401	3,354	3,199
Pensions and other employee benefits
2,038	1,545	1,449	1,225	1,618	1,212	1,237	1,200	1,610	1,478	1,209	1,137	1,524	1,218	1,060	1,002	1,437	1,084	1,016	935	1,385	1,206	1,091	1,153	1,319	985	876	1,034	1,255	1,059	982	1,090	1,366	1,063	1,020	1,018	1,306	980	983
Occupancy expense, net
745	653	654	665	657	599	648	613	637	582	580	600	578	570	601	560	609	589	623	640	722	626	646	641	715	614	626	599	634	602	610	628	636	600	641	665	732	654	651
Furniture and equipment expense
358	322	333	333	301	295	317	313	271	331	340	315	313	429	435	439	427	462	477	467	454	460	461	466	472	484	487	483	494	469	475	461	482	497	498	453	484	500	542
Data processing expenses
1,018	836	802	962	803	748	667	694	641	621	595	615	575	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Automated teller machine and interchange expense
297	340	297	277	189	316	347	319	322	339	346	305	294	330	291	267	249	253	234	255	246	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FDIC Assessments
-	-	-	-	-	-	-	-	-	-	-	-	-	40	151	155	142	149	155	148	151	156	151	146	147	154	151	147	152	165	165	157	146	144	174	189	325	382	415
Pennsylvania shares tax
422	345	341	347	347	320	326	336	336	321	336	336	336	342	287	323	322	302	311	317	318	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pennsylvania shares tax
422	345	341	347	347	320	326	336	336	321	336	336	336	342	287	323	322	302	311	317	318	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pennsylvania shares tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	336	337	341	351	350	351	350	301	339	340	332	322	345	320	319	305	306
Professional fees
379	274	242	331	222	216	205	279	276	273	224	188	187	310	245	282	289	201	141	140	156	272	135	144	148	110	806	461	157	-	112	-	-	-	-	-	-	-	-
Telecommunications
206	207	197	176	164	181	177	157	233	-	143	132	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Directors' fees
170	187	162	141	183	157	197	168	184	172	177	186	185	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Merger-related expenses
141	281	206	3,301	311	-	200	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Automated teller machine and interchange expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	239	218	211	218	218	312	272	-	218	-	-	-	-	-	-	-	-
Software subscriptions
-	-	-	-	-	-	-	-	-	-	-	-	-	252	237	251	241	259	209	211	197	-	184	201	190	195	209	209	223	-	290	-	-	-	-	-	-	-	-
Automated teller machine and interchange expense
297	340	297	277	189	316	347	319	322	339	346	305	294	330	291	267	249	253	234	255	246	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Software subscriptions
-	-	-	-	-	-	-	-	-	-	-	-	-	252	237	251	241	259	209	211	197	209	184	201	190	195	209	209	223	-	290	-	-	-	-	-	-	-	-
Loss on prepayment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-910	-	-	0	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Loss on prepayment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-1,023	-	-2,190	-143	0	-	-	-	-	-	-
Loss on prepayment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Other noninterest expense
1,939	1,730	1,529	1,689	1,719	1,291	1,249	1,412	1,261	1,003	1,257	1,290	1,438	1,357	1,371	1,343	1,469	1,269	1,207	1,248	1,417	1,167	1,445	1,395	1,416	1,242	1,351	1,289	1,416	-149	1,441	2,059	1,876	-448	1,923	1,680	1,696	1,907	1,607
Total noninterest expense
13,053	12,115	11,692	14,723	11,007	10,074	9,833	9,684	9,895	9,401	9,192	9,076	9,298	8,558	8,579	8,535	9,072	10,079	8,117	8,874	8,533	8,250	9,036	8,347	8,524	7,788	8,610	8,520	9,576	7,954	10,416	8,464	8,413	7,907	8,052	7,794	8,263	8,082	7,703
Income before income tax provision
4,982	6,593	6,403	4,342	6,071	6,702	6,697	7,748	5,116	5,479	5,198	5,495	4,418	5,731	5,538	5,174	4,666	5,326	5,629	5,809	5,044	5,850	5,678	5,563	5,687	5,574	6,268	6,645	6,290	8,148	7,508	7,779	7,696	8,432	8,219	7,826	7,605	6,535	6,150
Income tax provision
816	1,135	1,096	693	981	1,021	1,111	1,377	741	3,536	1,262	1,374	984	1,500	1,451	1,303	1,093	1,261	1,395	1,452	1,229	1,482	1,411	1,400	1,399	1,349	1,579	1,671	1,584	-	-	-	-	-	-	-	-	-	-
Income tax provision
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,014	2,094	2,109	-	2,230	2,129	2,064	1,671	1,281
NET INCOME
4,166	5,458	5,307	3,649	5,090	5,681	5,586	6,371	4,375	1,943	3,936	4,121	3,434	4,231	4,087	3,871	3,573	4,065	4,234	4,357	3,815	4,368	4,267	4,163	4,288	4,225	4,689	4,974	4,706	5,939	5,494	5,685	5,587	6,141	5,989	5,697	5,541	4,864	4,869
U.S Treasury preferred dividends
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	729	372
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,135	4,497
EARNINGS PER COMMON SHARE - BASIC (in dollars per share)
0.30	0.39	0.39	0.27	0.41	0.46	0.45	0.52	0.36	0.16	0.32	0.34	0.28	0.35	0.34	0.32	0.29	0.33	0.35	0.36	0.31	0.36	0.34	0.33	0.35	0.35	0.38	0.40	0.38	0.49	0.45	0.46	0.46	0.50	0.49	0.47	0.46	0.34	0.37
EARNINGS PER COMMON SHARE - DILUTED (in dollars per share)
0.30	0.39	0.39	0.27	0.41	0.46	0.45	0.52	0.36	0.16	0.32	0.34	0.28	0.35	0.34	0.32	0.29	0.33	0.35	0.36	0.31	0.37	0.34	0.33	0.34	0.34	0.38	0.40	0.38	0.48	0.45	0.46	0.46	0.51	0.49	0.47	0.45	0.34	0.37
Trust and Asset Management [Member]
Revenue
1,479	1,684	1,479	1,583	1,360	1,463	1,427	1,526	1,422	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deposit Account [Member]
Revenue
1,250	1,395	1,436	1,277	1,250	1,334	1,331	1,302	1,204	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Service Charges and Fees [Member]
Revenue
63	73	91	89	79	80	95	82	86	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debit Card [Member]
Revenue
731	690	722	699	643	666	660	641	579	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bank Servicing [Member]
Revenue
-14	91	-54	35	28	84	74	61	128	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-