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PARENT COMPANY ONLY | 12 Months Ended
--- | ---
Dec. 31, 2024
PARENT COMPANY ONLY |
PARENT COMPANY ONLY | 18. PARENT COMPANY ONLY The following is condensed financial information for Citizens & Northern Corporation: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
CONDENSED BALANCE SHEET |  | Dec. 31, |  | Dec. 31,
(In Thousands) | ​ | 2024 | ​ | 2023
ASSETS |  | ​ |  |  | ​ |
Cash | ​ | $ | 16,013 | ​ | $ | 14,822
Investment in subsidiaries: | ​ |  | ​ | ​ |  |
Citizens & Northern Bank | ​ |  | 285,465 | ​ |  | 272,286
Citizens & Northern Investment Corporation | ​ |  | 9,768 | ​ |  | 11,087
Bucktail Life Insurance Company | ​ |  | 3,804 | ​ |  | 3,733
Other assets | ​ |  | 136 | ​ |  | 200
TOTAL ASSETS | ​ | $ | 315,186 | ​ | $ | 302,128
​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES AND STOCKHOLDERS' EQUITY | ​ |  |  | ​ |  |
Senior notes, net | ​ | $ | 14,899 | ​ | $ | 14,831
Subordinated debt, net | ​ |  | 24,831 | ​ |  | 24,717
Other liabilities | ​ |  | 172 | ​ |  | 199
Stockholders' equity | ​ |  | 275,284 | ​ |  | 262,381
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | ​ | $ | 315,186 | ​ | $ | 302,128
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
CONDENSED INCOME STATEMENT AND COMPREHENSIVE INCOME (LOSS) | ​ |  | ​ | ​ | ​ | ​ |  |  | ​
(In Thousands) |  | 2024 | ​ | 2023 |  | 2022
Dividends from Citizens & Northern Bank | ​ | $ | 17,341 | ​ | $ | 19,405 | ​ | $ | 19,483
Dividends from Citizens & Northern Investment Corporation | ​ | ​ | 1,500 | ​ | ​ | 1,800 | ​ | ​ | 0
Expenses | ​ |  | (1,644) | ​ |  | (2,003) | ​ |  | (1,695)
Income before equity in undistributed income of subsidiaries | ​ |  | 17,197 | ​ |  | 19,202 | ​ |  | 17,788
Equity in undistributed income of subsidiaries | ​ |  | 8,761 | ​ |  | 4,946 | ​ |  | 8,830
NET INCOME | ​ | $ | 25,958 | ​ | $ | 24,148 | ​ | $ | 26,618
COMPREHENSIVE INCOME (LOSS) | ​ | $ | 27,634 | ​ | $ | 35,589 | ​ | $ | (28,286)
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
CONDENSED STATEMENT OF CASH FLOWS | ​ |  | ​ | ​ |  | ​ |  |  | ​
(In Thousands) |  | 2024 | ​ | 2023 |  | 2022
CASH FLOWS FROM OPERATING ACTIVITIES: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ | $ | 25,958 | ​ | $ | 24,148 | ​ | $ | 26,618
Adjustments to reconcile net income to net cash provided by operating activities: | ​ |  |  | ​ |  |  | ​ |  |
Accretion of purchase accounting adjustment | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | (14)
Amortization of debt issuance costs | ​ |  | 182 | ​ |  | 176 | ​ |  | 170
Equity in undistributed income of subsidiaries | ​ |  | (8,761) | ​ |  | (4,946) | ​ |  | (8,830)
Decrease (increase) in other assets | ​ |  | 64 | ​ |  | (167) | ​ |  | 0
(Decrease) increase in other liabilities | ​ |  | (93) | ​ |  | 97 | ​ |  | (41)
Net Cash Provided by Operating Activities | ​ |  | 17,350 | ​ |  | 19,308 | ​ |  | 17,903
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
CASH FLOWS FROM FINANCING ACTIVITIES: | ​ |  |  | ​ |  |  | ​ |  |
Repayment of subordinated debt | ​ |  | 0 | ​ |  | 0 | ​ |  | (8,500)
Proceeds from sale of treasury stock | ​ |  | 0 | ​ |  | 0 | ​ |  | 160
Purchase of treasury stock | ​ |  | (629) | ​ |  | (6,784) | ​ |  | (9,349)
Dividends paid | ​ |  | (15,530) | ​ |  | (15,569) | ​ |  | (15,865)
Net Cash Used in Financing Activities | ​ |  | (16,159) | ​ |  | (22,353) | ​ |  | (33,554)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | ​ |  | 1,191 | ​ |  | (3,045) | ​ |  | (15,651)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | ​ |  | 14,822 | ​ |  | 17,867 | ​ |  | 33,518
CASH AND CASH EQUIVALENTS, END OF YEAR | ​ | $ | 16,013 | ​ | $ | 14,822 | ​ | $ | 17,867
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION, | ​ |  |  | ​ |  |  | ​ |  |
Interest paid | ​ | $ | 1,305 | ​ | $ | 1,234 | ​ | $ | 1,433
​

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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