XML 137 R47.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Note 19 - Parent Company Only (Tables)
 12 Months Ended
Dec. 31, 2019
Notes Tables  
Condensed Balance Sheet [Table Text Block]
CONDENSED BALANCE SHEET
  
Dec. 31,
    
Dec. 31,
  
(In Thousands)
  
2019
   
2018
 
ASSETS
                
Cash
   $
6,485
     $
7,389
  
Investment in subsidiaries:
                
Citizens & Northern Bank
    
228,413
      
174,795
  
Citizens & Northern Investment Corporation
    
12,353
      
11,697
  
Bucktail Life Insurance Company
    
3,669
      
3,525
  
Other assets
    
109
      
6
  
TOTAL ASSETS
   $
251,029
     $
197,412
  
                 
LIABILITIES AND STOCKHOLDERS' EQUITY
                
Subordinated debt
   $
6,500
     $
0
  
Other liabilities
    
77
      
44
  
Stockholders' equity
    
244,452
      
197,368
  
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
   $
251,029
     $
197,412
  
Condensed Income Statement [Table Text Block]
CONDENSED INCOME STATEMENT
  
 
 
 
  
 
 
 
(In Thousands)
  
2019
   
2018
 
Dividends from Citizens & Northern Bank
   $
24,600
     $
12,800
  
Expenses
    
(1,086
 )    
(681
 )
Income before equity in (excess distributions)/undistributed income of subsidiaries
    
23,514
      
12,119
  
Equity in (excess distributions)/undistributed income of subsidiaries
    
(4,010
 )    
9,894
  
NET INCOME
   $
19,504
     $
22,013
  
Condensed Cash Flow Statement [Table Text Block]
CONDENSED STATEMENT OF CASH FLOWS
  
 
 
 
  
 
 
 
(In Thousands)
  
2019
   
2018
 
CASH FLOWS FROM OPERATING ACTIVITIES:
  
 
 
 
  
 
 
 
Net income
   $
19,504
     $
22,013
  
Adjustments to reconcile net income to net cash provided by operating activities:
                
Loss on repayment of subordinated debt
    
10
      
0
  
Equity in (excess distributions)/undistributed income of subsidiaries
    
4,010
      
(9,894
 )
(Increase) decrease in other assets
    
(107
 )    
7
  
(Decrease) increase in other liabilities
    
(81
 )    
30
  
Net Cash Provided by Operating Activities
    
23,336
      
12,156
  
                 
CASH FLOWS FROM INVESTING ACTIVITIES,
  
 
 
 
  
 
 
 
Net cash used in business combination
    
(9,698
 )    
0
  
                 
CASH FLOWS FROM FINANCING ACTIVITIES:
  
 
 
 
  
 
 
 
Repayment of subordinated debt
    
(510
 )    
0
  
Proceeds from sale of treasury stock
    
198
      
189
  
Purchase of treasury stock
    
(189
 )    
0
  
Dividends paid
    
(14,041
 )    
(11,746
 )
Net Cash Used in Financing Activities
    
(14,542
 )    
(11,557
 )
                 
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
    
(904
 )    
599
  
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR
    
7,389
      
6,790
  
CASH AND CASH EQUIVALENTS, END OF YEAR
   $
6,485
     $
7,389
  
                 
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
  
 
 
 
  
 
 
 
Investment of net assets acquired in business combination in Citizens & Northern Bank
   $
49,765
     $
0
  
Common equity issued in business combination
   $
32,953
     $
0
  
Subordinated debt assumed in business combination
   $
7,000
     $
0
  
Other liabilities assumed in business combination
   $
114
     $
0
  
Interest paid
   $
461
     $
0