XML 107 R48.htm IDEA: XBRL DOCUMENT v3.20.4

PARENT COMPANY ONLY (Tables)

12 Months Ended

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

X

- References

No definition available.

+ Details

Name:	srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix:	srt_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 3
-Paragraph i
-Subsection 10

+ Details

Name:	srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix:	srt_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 3
-Paragraph i
-Subsection 10

+ Details

Name:	srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix:	srt_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 3
-Paragraph i
-Subsection 10

+ Details

Name:	srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix:	srt_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration