Citizens & Northern Corporation, incorporated on February 19, 1987, is a holding company. The Company's principal activity is community banking. The Company, through its subsidiaries, is engaged in providing a range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York State. The Company offers lending products, which include mortgage loans, commercial loans and consumer loans, as well as specialized instruments, such as commercial letters-of-credit. Its deposit products include various types of checking accounts, passbook and statement savings, money market accounts, interest checking accounts, individual retirement accounts (IRAs) and certificates of deposit. The Company also offers non-insured Repo Sweep accounts. It provides trust and financial management services, including administration of trusts and estates, retirement plans, and other employee benefit plans, and investment management services.
The Company's subsidiaries include Citizens & Northern Bank (C&N Bank or the Bank), Citizens & Northern Investment Corporation and Bucktail Life Insurance Company (Bucktail). C&N Bank provides a range of banking services, including deposit and loan products for personal and commercial customers. The Bank also maintains a trust division that provides financial services, such as 401(k) plans, retirement planning, estate planning, estate settlements and asset management.
Lending Activities
The Company's loans receivable portfolio is segmented into residential mortgage, commercial and consumer loans. The residential mortgage segment includes various classes, such as first and junior lien residential mortgages, home equity lines of credit and residential construction loans. Its classes of commercial loans include commercial loans secured by real estate, non-real estate secured commercial and industrial loans, loans to political subdivisions, commercial construction and loans secured by farmland. As of December 31, 2016, the Bank had net loans of $743.4 million.
Investment Activities
The Company's investment portfolio includes obligations of the United States Government agencies, obligations of states and political subdivisions, mortgage-backed securities and other collateralized debt obligations. As of December 31, 2016, the Company's total securities available for sale had a fair value of approximately $11.1 million.
Sources of Funds
The Company's primary sources of funds include deposits, such as interest-bearing deposits. Its interest-bearing deposits include interest checking, money market, savings, certificates of deposit, IRAs and other time deposits. As of December 31, 2016, the Bank had total deposits of $983.8 million.
Subsidiary activities
The Company offers a range of personal and commercial insurance products through C&N Bank's subsidiary, C&N Financial Services Corporation (C&NFSC). Citizens & Northern Investment Corporation is engaged in investment activities. Bucktail reinsures credit and mortgage life and accident and health insurance on behalf of C&N Bank. C&NFSC also offers mutual funds, annuities, educational savings accounts and other investment products through registered agents. C&NFSC is a licensed insurance agency that provides insurance products to individuals and businesses.
90 Main St # 92
The company trades on NASDAQ exchange. The company headquarter is located in Pennsylvania, PA. The company was established in the 1864.| Ticker | CZNC |
| Long Name | Citizens and Northern Corp |
| Short Name | Citizens and Northern |