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PARENT COMPANY ONLY (Tables) | 12 Months Ended
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Dec. 31, 2023
PARENT COMPANY ONLY |
Schedule of parent company condensed balance sheet | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
CONDENSED BALANCE SHEET |  | Dec. 31, |  | Dec. 31,
(In Thousands) | ​ | 2023 | ​ | 2022
ASSETS |  | ​ |  |  | ​ |
Cash | ​ | $ | 14,822 | ​ | $ | 17,867
Investment in subsidiaries: | ​ |  |  | ​ |  |
Citizens & Northern Bank | ​ |  | 272,286 | ​ |  | 254,809
Citizens & Northern Investment Corporation | ​ |  | 11,087 | ​ |  | 12,453
Bucktail Life Insurance Company | ​ |  | 3,733 | ​ |  | 3,637
Other assets | ​ |  | 200 | ​ |  | 33
TOTAL ASSETS | ​ | $ | 302,128 | ​ | $ | 288,799
​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES AND STOCKHOLDERS' EQUITY | ​ |  |  | ​ |  |
Senior notes, net | ​ | $ | 14,831 | ​ | $ | 14,765
Subordinated debt, net | ​ |  | 24,717 | ​ |  | 24,607
Other liabilities | ​ |  | 199 | ​ |  | 102
Stockholders' equity | ​ |  | 262,381 | ​ |  | 249,325
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | ​ | $ | 302,128 | ​ | $ | 288,799
Schedule of parent company condensed income statement | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
CONDENSED INCOME STATEMENT | ​ |  | ​ | ​ | ​ | ​ |  |  | ​
(In Thousands) |  | 2023 | ​ | 2022 |  | 2021
Dividends from Citizens & Northern Bank | ​ | $ | 19,405 | ​ | $ | 19,483 | ​ | $ | 20,200
Dividends from Citizens & Northern Investment Corporation | ​ | ​ | 1,800 | ​ | ​ | 0 | ​ | ​ | 0
Expenses | ​ |  | (2,003) | ​ |  | (1,695) | ​ |  | (1,691)
Income before equity in undistributed income of subsidiaries | ​ |  | 19,202 | ​ |  | 17,788 | ​ |  | 18,509
Equity in undistributed income of subsidiaries | ​ |  | 4,946 | ​ |  | 8,830 | ​ |  | 12,045
NET INCOME | ​ | $ | 24,148 | ​ | $ | 26,618 | ​ | $ | 30,554
Schedule of parent company condensed statement of cash flows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
CONDENSED STATEMENT OF CASH FLOWS | ​ |  | ​ | ​ |  | ​ |  |  | ​
(In Thousands) |  | 2023 | ​ | 2022 |  | 2021
CASH FLOWS FROM OPERATING ACTIVITIES: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ | $ | 24,148 | ​ | $ | 26,618 | ​ | $ | 30,554
Adjustments to reconcile net income to net cash provided by operating activities: | ​ |  |  | ​ |  |  | ​ |  |
Accretion of purchase accounting adjustment | ​ | ​ | 0 | ​ | ​ | (14) | ​ | ​ | (43)
Amortization of debt issuance costs | ​ |  | 176 | ​ |  | 170 | ​ |  | 101
Equity in undistributed income of subsidiaries | ​ |  | (4,946) | ​ |  | (8,830) | ​ |  | (12,045)
Increase in other assets | ​ |  | (167) | ​ |  | 0 | ​ |  | (29)
Increase (decrease) in other liabilities | ​ |  | 97 | ​ |  | (41) | ​ |  | (16)
Net Cash Provided by Operating Activities | ​ |  | 19,308 | ​ |  | 17,903 | ​ |  | 18,522
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
CASH FLOWS FROM FINANCING ACTIVITIES: | ​ |  |  | ​ |  |  | ​ |  |
Proceeds from issuance of senior notes and subordinated debt | ​ |  | 0 | ​ |  | 0 | ​ |  | 39,100
Repayment of subordinated debt | ​ |  | 0 | ​ |  | (8,500) | ​ |  | (8,000)
Proceeds from sale of treasury stock | ​ |  | 0 | ​ |  | 160 | ​ |  | 212
Purchase of treasury stock | ​ |  | (6,784) | ​ |  | (9,349) | ​ |  | (7,586)
Dividends paid | ​ |  | (15,569) | ​ |  | (15,865) | ​ |  | (15,976)
Net Cash (Used in) Provided by Financing Activities | ​ |  | (22,353) | ​ |  | (33,554) | ​ |  | 7,750
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | ​ |  | (3,045) | ​ |  | (15,651) | ​ |  | 26,272
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | ​ |  | 17,867 | ​ |  | 33,518 | ​ |  | 7,246
CASH AND CASH EQUIVALENTS, END OF YEAR | ​ | $ | 14,822 | ​ | $ | 17,867 | ​ | $ | 33,518
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION, | ​ |  |  | ​ |  |  | ​ |  |
Interest paid | ​ | $ | 1,234 | ​ | $ | 1,433 | ​ | $ | 1,567
​

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