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PARENT COMPANY ONLY (Tables) | 12 Months Ended
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Dec. 31, 2020
PARENT COMPANY ONLY |
Schedule of parent company condensed balance sheet | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
CONDENSED BALANCE SHEET |  | Dec. 31, |  | Dec. 31,
(In Thousands) | ​ | 2020 | ​ | 2019
ASSETS |  | ​ |  |  | ​ |
Cash | ​ | $ | 7,246 | ​ | $ | 6,485
Investment in subsidiaries: | ​ |  |  | ​ |  |
Citizens & Northern Bank | ​ |  | 292,455 | ​ |  | 228,413
Citizens & Northern Investment Corporation | ​ |  | 12,959 | ​ |  | 12,353
Bucktail Life Insurance Company | ​ |  | 3,804 | ​ |  | 3,669
Other assets | ​ |  | 4 | ​ |  | 109
TOTAL ASSETS | ​ | $ | 316,468 | ​ | $ | 251,029
​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES AND STOCKHOLDERS' EQUITY | ​ |  |  | ​ |  |
Subordinated debt | ​ | $ | 16,553 | ​ | $ | 6,500
Other liabilities | ​ |  | 159 | ​ |  | 77
Stockholders' equity | ​ |  | 299,756 | ​ |  | 244,452
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | ​ | $ | 316,468 | ​ | $ | 251,029
Schedule of parent company condensed income statement | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
CONDENSED INCOME STATEMENT | ​ |  | ​ |  |  | ​
(In Thousands) |  | 2020 |  | 2019
Dividends from Citizens & Northern Bank | ​ | $ | 38,507 | ​ | $ | 24,600
Expenses | ​ |  | (1,488) | ​ |  | (1,086)
Income before distributions in excess of income from subsidiaries | ​ |  | 37,019 | ​ |  | 23,514
Distributions in excess of income from subsidiaries | ​ |  | (17,797) | ​ |  | (4,010)
NET INCOME | ​ | $ | 19,222 | ​ | $ | 19,504
Schedule of parent company condensed statement of cash flows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
CONDENSED STATEMENT OF CASH FLOWS | ​ |  | ​ |  |  | ​
(In Thousands) |  | 2020 |  | 2019
CASH FLOWS FROM OPERATING ACTIVITIES: | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ | $ | 19,222 | ​ | $ | 19,504
Adjustments to reconcile net income to net cash provided by operating activities: | ​ |  |  | ​ |  |
Accretion of purchase accounting adjustment | ​ | ​ | (38) | ​ | ​ | 0
Loss on repayment of subordinated debt | ​ |  | 0 | ​ |  | 10
Distributions in excess of income from subsidiaries | ​ |  | 17,797 | ​ |  | 4,010
Decrease (increase) in other assets | ​ |  | 105 | ​ |  | (107)
Increase (decrease) in other liabilities | ​ |  | 13 | ​ |  | (81)
Net Cash Provided by Operating Activities | ​ |  | 37,099 | ​ |  | 23,336
​ | ​ | ​ | ​ | ​ | ​ | ​
CASH FLOWS FROM INVESTING ACTIVITIES, | ​ |  |  | ​ |  |
Net cash used in business combination | ​ |  | (21,837) | ​ |  | (9,698)
​ | ​ | ​ | ​ | ​ | ​ | ​
CASH FLOWS FROM FINANCING ACTIVITIES: | ​ |  |  | ​ |  |
Repayment of subordinated debt | ​ |  | 0 | ​ |  | (510)
Proceeds from sale of treasury stock | ​ |  | 131 | ​ |  | 198
Purchase of treasury stock | ​ |  | (163) | ​ |  | (189)
Dividends paid | ​ |  | (14,469) | ​ |  | (14,041)
Net Cash Used in Financing Activities | ​ |  | (14,501) | ​ |  | (14,542)
​ | ​ | ​ | ​ | ​ | ​ | ​
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | ​ |  | 761 | ​ |  | (904)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | ​ |  | 6,485 | ​ |  | 7,389
CASH AND CASH EQUIVALENTS, END OF YEAR | ​ | $ | 7,246 | ​ | $ | 6,485
​ | ​ | ​ | ​ | ​ | ​ | ​
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ​ |  |  | ​ |  |
Investment of net assets acquired in business combination in Citizens & Northern Bank | ​ | $ | 73,426 | ​ | $ | 49,765
Common equity issued in business combination | ​ | $ | 41,429 | ​ | $ | 32,953
Subordinated debt assumed in business combination | ​ | $ | 10,091 | ​ | $ | 7,000
Other liabilities assumed in business combination | ​ | $ | 69 | ​ | $ | 114
Interest paid | ​ | $ | 655 | ​ | $ | 461

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