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Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table

Pay Versus Performance

 

The SEC has adopted rules requiring disclosure of the relationship between executive compensation and financial performance. Consistent with these rules, the Corporation (“CZNC”) is disclosing the information presented in this “Pay Versus Performance” section. The Corporation’s process for evaluating executive compensation is described in the Compensation Discussion and Analysis section of this proxy statement.

The following table sets forth summary information concerning executive compensation for each of the last five years.

 

Pay Versus Performance
For the Years Ended December 31, 2024, 2023, 2022, 2021 and 2020
 
               Value of Initial Fixed $100
Investment on 12/31/2019
Based on:		       
Year  Summary
Compensation
Table Total for
PEO ($)		  Compensation
Actually Paid
to PEO ($)		  Average
Summary
Compensation
Table Total
for Non-PEO
Named
Executive
Officers ($)		  Average
Compensation
Actually Paid
to Non-PEO
Named
Executive
Officers ($)		  Total
Shareholder
Return ($)		  Peer Group
Total
Shareholder
Return ($)		  Net Income
($)		  (PPNR-
NCOs)/
Average
Equity (1)		 
2024   1,445,245   1,357,418   535,116   516,576   85.52   128.85   25,958,000   12.34%
2023   1,225,587   1,219,593   478,533   469,811   97.39   106.87   24,148,000   13.13%
2022   1,088,120   915,313   463,238   404,421   93.91   110.67   26,618,000   13.86%
2021   1,109,193   1,203,089   475,533   514,543   102.47   132.19   30,554,000   13.59%
2020   1,045,911   952,598   488,880   437,792   74.23   92.50   19,222,000   12.77%

 

(1)In 2024, the Corporation changed its Company-Selected Measure from Core Return on Average Equity (Core ROAE) to Pre-Tax Pre-Provision less Net-Charge Offs as a percentage of Average Equity (PPNR-NCOs/Average Equity).

 

Mr. Scovill, the CEO, was the PEO in each of the five years presented in the table above. The non-PEO named executive officers included in table above are Mr. Hughes, Mr. Hoose, Mr. Rush and Stan Dunsmore for 2020 through 2023 and Ms. Cwiklinski in 2024.

 

The index values shown in the table above are market-weighted dividend-reinvestment numbers, which measure the total return for investing $100.00 five years ago. The Peer Group Total Shareholder Return amounts are determined based on the NASDAQ Bank Index.

 

A reconciliation of Summary Compensation Table Total amounts to amounts described as “Actually Paid” for each year in the Pay Versus Performance table above is presented in the following table.

 

                  Add: Change in     Less: Fair
Value		    
               Add: Fair Value  Fair Value of     at End of Prior    
            Less: Stock  at Year-end of  Awards  Add: Change in  Year of any    
            Awards from  Stock Awards  Granted in  Fair Value of  Awards    
            Summary  Granted  any  Shares that  Granted    
            Compensation  During the  Prior Year  Vested as of  in a Prior Year    
            Table  Year that are  that are  the Vesting  that Failed to    
      Summary  Less:  Valued  Outstanding  Outstanding  Date as  Meet Vesting  Total 
      Compensation  Change in  Based on  and Unvested  and Unvested  Compared  Conditions  Compensation 
      Table  Pension  Fair Value at  at the End  at the End  to the End of  in the  Actually 
   Year  Total  Value  Grant Date  of the Year  of the Year  the Prior Year  Covered Year  Paid 
PEO  2024  1,445,245  -   577,792  530,565  (25,918)  (14,682)  -  1,357,418 
   2023  1,225,587  -   132,301  127,088  (4,102)  3,321   -  1,219,593 
   2022  1,088,120  -   224,429  170,879  (21,457)  (6,693)  91,107  915,313 
   2021  1,109,193  -   213,754  278,883  45,198   9,222   25,653  1,203,089 
   2020  1,045,911  -   196,638  175,723  (52,243)  (1,905)  18,250  952,598 
AVERAGE OF  2024  535,116  -   64,702  59,478  (8,886)  (4,430)  -  516,576 
NON-PEO  2023  478,533  4,252   49,531  47,580  (1,448)  (1,071)  -  469,811 
NEOs  2022  463,238  -   85,869  65,197  (8,644)  (3,198)  26,303  404,421 
   2021  475,533  -   65,315  85,217  21,041   5,662   7,594  514,543 
   2020  488,880  14,535   76,024  67,939  (20,526)  (738)  7,204  437,792 

Notes:

1.There was no pension service cost or prior service cost in the years included in the table.

2.There were no stock awards that were granted and vested in the same year.

3.There were no modifications to stock-based awards during the years included in the table.

4.The valuation assumptions used to calculate equity award fair values did not materially differ from those used at the time of grant.

5.There were no other earnings paid on stock or option awards in the covered fiscal years prior to the vesting dates that were not otherwise included in total compensation.

 

The Corporation has selected Pre-Tax Pre-Provision Net Revenue Less Net-Charge Offs as a percentage of Average Equity ((PPNR-NCOs)/Average Equity) as its “Company-Selected Measure,” meaning the most important measure the Corporation used in linking compensation actually paid in 2024 to company performance. The Corporation’s calculations of (PPNR-NCOs)/Average Equity reflect adjustments to earnings determined based on U.S. GAAP to eliminate amounts identified as “extraordinary occurrences” as described in the 2024 Annual Incentive Plan Award document. Reconciliation of the Corporation’s earnings under U.S. GAAP to the non-GAAP earnings amount included in (PPNR-NCOs)/Average Equity for each year included in the Pay Versus Performance table is presented in the following table.

 

   Year Ended December 31, 
(Dollars In Thousands)  2020   2021   2022   2023   2024 
Net Income  $19,222   $30,554   $26,618   $24,148   $25,958 
Add: Provision for income taxes   3,990    7,133    5,732    6,335    5,913 
Add:  Provision for credit losses   3,913    3,661    7,255    186    2,195 
Add: Adjustment to reflect net interest income on a fully taxable-equivalent basis   980    1,135    1,226    919    819 
Less: curtailment gain on Postretirement Plan   0    0    0    0    (469)
Add (less): realized (gains) losses on available-for-sale s debt securities   (169)   (24)   (20)   3,036    0 
Less: enhancement fee Included in noninterest income related to purchase of BOLI   0    0    0    (2,100)   0 
Add: professional fees expense related to broker-dealer conversion   0    0    0    389    0 
Add (Less): realized loss (gain) on marketable securities   (21)   29    112    (12)   8 
Less: gain on sale of land   0    (46)   0    0    0 
Add: merger-related expenses   7,708    0    0    0    0 
Add: loss on prepayment of borrowings   1,636    0    0    0    0 
Pre-Provision Net Revenue (PPNR) - Non-GAAP  $37,259   $42,442   $40,923   $32,901   $34,424 
Net Charge-offs (NCOs)  $(2,364)  $(1,509)  $(4,177)  $(264)  $(1,603)
PPNR Less Net Charge-offs  $34,895   $40,933   $36,746   $32,637   $32,821 
Average Equity  $273,351   $301,226   $265,093   $248,494   $265,884 
PPNR less NCOs as a percentage of Average Equity   12.77%   13.59%   13.86%   13.13%   12.34%
        
Company Selected Measure Name (PPNR- NCOs)/ Average Equity        
Named Executive Officers, Footnote

Mr. Scovill, the CEO, was the PEO in each of the five years presented in the table above. The non-PEO named executive officers included in table above are Mr. Hughes, Mr. Hoose, Mr. Rush and Stan Dunsmore for 2020 through 2023 and Ms. Cwiklinski in 2024.

        
PEO Total Compensation Amount $ 1,445,245 $ 1,225,587 $ 1,088,120 $ 1,109,193 $ 1,045,911
PEO Actually Paid Compensation Amount $ 1,357,418 1,219,593 915,313 1,203,089 952,598
Adjustment To PEO Compensation, Footnote

A reconciliation of Summary Compensation Table Total amounts to amounts described as “Actually Paid” for each year in the Pay Versus Performance table above is presented in the following table.

                  Add: Change in     Less: Fair
Value		    
               Add: Fair Value  Fair Value of     at End of Prior    
            Less: Stock  at Year-end of  Awards  Add: Change in  Year of any    
            Awards from  Stock Awards  Granted in  Fair Value of  Awards    
            Summary  Granted  any  Shares that  Granted    
            Compensation  During the  Prior Year  Vested as of  in a Prior Year    
            Table  Year that are  that are  the Vesting  that Failed to    
      Summary  Less:  Valued  Outstanding  Outstanding  Date as  Meet Vesting  Total 
      Compensation  Change in  Based on  and Unvested  and Unvested  Compared  Conditions  Compensation 
      Table  Pension  Fair Value at  at the End  at the End  to the End of  in the  Actually 
   Year  Total  Value  Grant Date  of the Year  of the Year  the Prior Year  Covered Year  Paid 
PEO  2024  1,445,245  -   577,792  530,565  (25,918)  (14,682)  -  1,357,418 
   2023  1,225,587  -   132,301  127,088  (4,102)  3,321   -  1,219,593 
   2022  1,088,120  -   224,429  170,879  (21,457)  (6,693)  91,107  915,313 
   2021  1,109,193  -   213,754  278,883  45,198   9,222   25,653  1,203,089 
   2020  1,045,911  -   196,638  175,723  (52,243)  (1,905)  18,250  952,598 
AVERAGE OF  2024  535,116  -   64,702  59,478  (8,886)  (4,430)  -  516,576 
NON-PEO  2023  478,533  4,252   49,531  47,580  (1,448)  (1,071)  -  469,811 
NEOs  2022  463,238  -   85,869  65,197  (8,644)  (3,198)  26,303  404,421 
   2021  475,533  -   65,315  85,217  21,041   5,662   7,594  514,543 
   2020  488,880  14,535   76,024  67,939  (20,526)  (738)  7,204  437,792 

Notes:

1.There was no pension service cost or prior service cost in the years included in the table.
2.There were no stock awards that were granted and vested in the same year.
3.There were no modifications to stock-based awards during the years included in the table.
4.The valuation assumptions used to calculate equity award fair values did not materially differ from those used at the time of grant.
5.There were no other earnings paid on stock or option awards in the covered fiscal years prior to the vesting dates that were not otherwise included in total compensation.
        
Non-PEO NEO Average Total Compensation Amount $ 535,116 478,533 463,238 475,533 488,880
Non-PEO NEO Average Compensation Actually Paid Amount $ 516,576 469,811 404,421 514,543 437,792
Adjustment to Non-PEO NEO Compensation Footnote

A reconciliation of Summary Compensation Table Total amounts to amounts described as “Actually Paid” for each year in the Pay Versus Performance table above is presented in the following table.

                  Add: Change in     Less: Fair
Value		    
               Add: Fair Value  Fair Value of     at End of Prior    
            Less: Stock  at Year-end of  Awards  Add: Change in  Year of any    
            Awards from  Stock Awards  Granted in  Fair Value of  Awards    
            Summary  Granted  any  Shares that  Granted    
            Compensation  During the  Prior Year  Vested as of  in a Prior Year    
            Table  Year that are  that are  the Vesting  that Failed to    
      Summary  Less:  Valued  Outstanding  Outstanding  Date as  Meet Vesting  Total 
      Compensation  Change in  Based on  and Unvested  and Unvested  Compared  Conditions  Compensation 
      Table  Pension  Fair Value at  at the End  at the End  to the End of  in the  Actually 
   Year  Total  Value  Grant Date  of the Year  of the Year  the Prior Year  Covered Year  Paid 
PEO  2024  1,445,245  -   577,792  530,565  (25,918)  (14,682)  -  1,357,418 
   2023  1,225,587  -   132,301  127,088  (4,102)  3,321   -  1,219,593 
   2022  1,088,120  -   224,429  170,879  (21,457)  (6,693)  91,107  915,313 
   2021  1,109,193  -   213,754  278,883  45,198   9,222   25,653  1,203,089 
   2020  1,045,911  -   196,638  175,723  (52,243)  (1,905)  18,250  952,598 
AVERAGE OF  2024  535,116  -   64,702  59,478  (8,886)  (4,430)  -  516,576 
NON-PEO  2023  478,533  4,252   49,531  47,580  (1,448)  (1,071)  -  469,811 
NEOs  2022  463,238  -   85,869  65,197  (8,644)  (3,198)  26,303  404,421 
   2021  475,533  -   65,315  85,217  21,041   5,662   7,594  514,543 
   2020  488,880  14,535   76,024  67,939  (20,526)  (738)  7,204  437,792 

Notes:

1.There was no pension service cost or prior service cost in the years included in the table.
2.There were no stock awards that were granted and vested in the same year.
3.There were no modifications to stock-based awards during the years included in the table.
4.The valuation assumptions used to calculate equity award fair values did not materially differ from those used at the time of grant.
5.There were no other earnings paid on stock or option awards in the covered fiscal years prior to the vesting dates that were not otherwise included in total compensation.
        
Compensation Actually Paid vs. Total Shareholder Return        
Compensation Actually Paid vs. Net Income

       
Compensation Actually Paid vs. Company Selected Measure

 

        
Total Shareholder Return Vs Peer Group        
Tabular List, Table

A list of performance measures the Corporation considers the most important inputs for linking executive compensation with financial performance is as follows:

 

1.PPNR less NCOs as a Percentage of Average Equity (as described above)

2.PPNR less NCOs as a Percentage of Average Assets

3.Average Deposits, Excluding Brokered Deposits

4.Net Interest Income on a Fully Taxable-Equivalent Basis

5.Noninterest Income, excluding Security Gains or Losses and Wealth Management Revenue

6.Efficiency Ratio

7.Total Wealth Management Revenue

 

Each of these performance measures is described in detail in the Compensation Discussion and Analysis section.

        
Total Shareholder Return Amount $ 85.52 97.39 93.91 102.47 74.23
Peer Group Total Shareholder Return Amount 128.85 106.87 110.67 132.19 92.5
Net Income (Loss) $ 25,958,000 $ 24,148,000 $ 26,618,000 $ 30,554,000 $ 19,222,000
Company Selected Measure Amount 12.34 13.13 13.86 13.59 12.77
PEO Name Mr. Scovill        
Income Tax Expense (Benefit) $ 5,913,000 $ 6,335,000 $ 5,732,000 $ 7,133,000 $ 3,990,000
Provision for Loan, Lease, and Other Losses 2,195,000 186,000 7,255,000 3,661,000 3,913,000
Adjustments To Reflect Net Interest Income On Fully Taxable Equivalent Basis 819,000 919,000 1,226,000 1,135,000 980,000
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Curtailment (469,000) 0 0 0 0
Gain (Loss) on Sale of Investments 0 3,036,000 (20,000) (24,000) (169,000)
Enhancement Fee Related to Purchase of Bank Owned Life Insurance, Before Tax 0 (2,100,000) 0 0 0
Broker Dealer Conversion, Professional Fees Expense 0 389,000 0 0 0
Equity Securities, FV-NI, Unrealized Gain (Loss) 8,000 (12,000) 112,000 29,000 (21,000)
Gain (Loss) on Disposition of Property Plant Equipment 0 0 0 (46,000) 0
Business Combination, Acquisition Related Costs 0 0 0 0 7,708,000
Loss On Prepayment Of Borrowings, Before Tax 0 0 0 0 1,636,000
Pre Provision Net Revenue 34,424,000 32,901,000 40,923,000 42,442,000 37,259,000
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff (Recovery) (1,603,000) (264,000) (4,177,000) (1,509,000) (2,364,000)
Pre Provision Net Revenue Less Net Charge Offs 32,821,000 32,637,000 36,746,000 40,933,000 34,895,000
Stockholders' Equity, Average Amount Outstanding $ 265,884,000 248,494,000 265,093,000 301,226,000 273,351,000
Measure:: 1          
Pay vs Performance Disclosure          
Name 1.PPNR less NCOs as a Percentage of Average Equity (as described above)        
Non-GAAP Measure Description

The Corporation has selected Pre-Tax Pre-Provision Net Revenue Less Net-Charge Offs as a percentage of Average Equity ((PPNR-NCOs)/Average Equity) as its “Company-Selected Measure,” meaning the most important measure the Corporation used in linking compensation actually paid in 2024 to company performance. The Corporation’s calculations of (PPNR-NCOs)/Average Equity reflect adjustments to earnings determined based on U.S. GAAP to eliminate amounts identified as “extraordinary occurrences” as described in the 2024 Annual Incentive Plan Award document. Reconciliation of the Corporation’s earnings under U.S. GAAP to the non-GAAP earnings amount included in (PPNR-NCOs)/Average Equity for each year included in the Pay Versus Performance table is presented in the following table.

   Year Ended December 31, 
(Dollars In Thousands)  2020   2021   2022   2023   2024 
Net Income  $19,222   $30,554   $26,618   $24,148   $25,958 
Add: Provision for income taxes   3,990    7,133    5,732    6,335    5,913 
Add:  Provision for credit losses   3,913    3,661    7,255    186    2,195 
Add: Adjustment to reflect net interest income on a fully taxable-equivalent basis   980    1,135    1,226    919    819 
Less: curtailment gain on Postretirement Plan   0    0    0    0    (469)
Add (less): realized (gains) losses on available-for-sale s debt securities   (169)   (24)   (20)   3,036    0 
Less: enhancement fee Included in noninterest income related to purchase of BOLI   0    0    0    (2,100)   0 
Add: professional fees expense related to broker-dealer conversion   0    0    0    389    0 
Add (Less): realized loss (gain) on marketable securities   (21)   29    112    (12)   8 
Less: gain on sale of land   0    (46)   0    0    0 
Add: merger-related expenses   7,708    0    0    0    0 
Add: loss on prepayment of borrowings   1,636    0    0    0    0 
Pre-Provision Net Revenue (PPNR) - Non-GAAP  $37,259   $42,442   $40,923   $32,901   $34,424 
Net Charge-offs (NCOs)  $(2,364)  $(1,509)  $(4,177)  $(264)  $(1,603)
PPNR Less Net Charge-offs  $34,895   $40,933   $36,746   $32,637   $32,821 
Average Equity  $273,351   $301,226   $265,093   $248,494   $265,884 
PPNR less NCOs as a percentage of Average Equity   12.77%   13.59%   13.86%   13.13%   12.34%
        
Measure:: 2          
Pay vs Performance Disclosure          
Name 2.PPNR less NCOs as a Percentage of Average Assets        
Measure:: 3          
Pay vs Performance Disclosure          
Name 3.Average Deposits, Excluding Brokered Deposits        
Measure:: 4          
Pay vs Performance Disclosure          
Name 4.Net Interest Income on a Fully Taxable-Equivalent Basis        
Measure:: 5          
Pay vs Performance Disclosure          
Name 5.Noninterest Income, excluding Security Gains or Losses and Wealth Management Revenue        
Measure:: 6          
Pay vs Performance Disclosure          
Name 6.Efficiency Ratio        
Measure:: 7          
Pay vs Performance Disclosure          
Name 7.Total Wealth Management Revenue        
PEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount
PEO | Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (14,682) 3,321 (6,693) 9,222 (1,905)
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (577,792) (132,301) (224,429) (213,754) (196,638)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 530,565 127,088 170,879 278,883 175,723
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (25,918) (4,102) (21,457) 45,198 (52,243)
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (91,107) (25,653) (18,250)
Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (4,252) (14,535)
Non-PEO NEO | Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (4,430) (1,071) (3,198) 5,662 (738)
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 64,702 (49,531) (85,869) (65,315) (76,024)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 59,478 47,580 65,197 85,217 67,939
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (8,886) (1,448) (8,644) 21,041 (20,526)
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (26,303) $ (7,594) $ (7,204)