
<PAGE>

                                                                     EXHIBIT 21


                               SUBSIDIARIES OF THE REGISTRANT

<TABLE>
<CAPTION>
                                                                 Name Under Which
Name of Subsidiary                  State of Incorporation     Subsidiary does business
--------------------               ------------------------    ----------------------------
<S>                               <C>                          <C>
Citizens & Northern Bank              Pennsylvania                Citizens & Northern Bank

Bucktail Life Insurance               Arizona                     Bucktail Life Insurance
  Company                                                           Company

Citizens & Northern                   Delaware                    Citizens & Northern
  Investment Corporation                                            Investment Corporation

</TABLE>
