CZNC

MKT CAP:$416M

Citizens & Northern Corporation

Market Cap

$416M

Financial Services·Banks - Regional·🇺🇸 United States·NASDAQ

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$23.18+$3.21 (+16.07%)

Apr 22, 2026

Company Details

Citizens & Northern Corporation operates as the bank holding company for Citizens & Northern Bank that provides a range of banking and mortgage services to individual and corporate customers. The company offers lending products include comm...

CEO

J. Bradley Scovill

IPO Date

Apr 5, 1994

Website

www.cnbankpa.com

Key Metrics TTM

Revenue

$155M

-0.3% YoY

Net Income

$23M

EPS (Diluted)

$1.48

Free Cash Flow

$29M

Revenue / Share

$8.77

Gross Margin

65.5%

Operating Margin

18.5%

Net Margin

15.1%

FCF Margin

18.7%

P/S

2.7x

P/E

17.7x

Earnings Reports

FY 2025

Mar 6, 2026

$154M-0.8%EPS $1.46

Q4 2025

Mar 6, 2026

$36M-11.1%EPS $0.25

Q3 2025

Nov 7, 2025

$40M+1.8%EPS $0.42

Q2 2025

Aug 8, 2025

$40M+3.8%EPS $0.40

Q1 2025

May 9, 2025

$38M+4.9%EPS $0.41

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$27M	$25M	$8M
Q2 22	$28M	$26M	$9M
Q3 22	$29M	$22M	$5M
Q4 22	$31M	$26M	$10M
Q1 23	$31M	$26M	$8M
Q2 23	$34M	$26M	$7M
Q3 23	$35M	$27M	$9M
Q4 23	$36M	$24M	$6M
Q1 24	$37M	$24M	$6M
Q2 24	$39M	$26M	$7M
Q3 24	$40M	$26M	$8M
Q4 24	$41M	$28M	$10M
Q1 25	$38M	$26M	$8M
Q2 25	$40M	$27M	$8M
Q3 25	$40M	$27M	$8M
Q4 25	$36M	$22M	$5M

Valuation

Quarter	P/S	P/E
Q1 22	3.6x	13.5x
Q2 22	3.4x	12.8x
Q3 22	3.3x	14.2x
Q4 22	3.0x	13.2x
Q1 23	2.6x	12.1x
Q2 23	2.3x	12.0x
Q3 23	2.0x	9.6x
Q4 23	2.4x	13.7x
Q1 24	2.0x	11.9x
Q2 24	1.8x	11.3x
Q3 24	2.0x	13.6x
Q4 24	1.8x	10.8x
Q1 25	2.0x	11.4x
Q2 25	1.8x	10.8x
Q3 25	1.9x	11.2x
Q4 25	2.0x	13.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$6M	$5M
Q2 22	$8M	$7M
Q3 22	$13M	$12M
Q4 22	$8M	$8M
Q1 23	$10M	$9M
Q2 23	$8M	$8M
Q3 23	$8M	$8M
Q4 23	$8M	$7M
Q1 24	$6M	$5M
Q2 24	$9M	$8M
Q3 24	$7M	$6M
Q4 24	$12M	$12M
Q1 25	$2M	$1M
Q2 25	$9M	$8M
Q3 25	$11M	$11M
Q4 25	$11M	$9M

Capital Expenditures

Quarter	CapEx
Q1 22	$993.0K
Q2 22	$1M
Q3 22	$825.0K
Q4 22	$302.0K
Q1 23	$276.0K
Q2 23	$275.0K
Q3 23	$830.0K
Q4 23	$884.0K
Q1 24	$744.0K
Q2 24	$660.0K
Q3 24	$150.0K
Q4 24	$352.0K
Q1 25	$542.0K
Q2 25	$485.0K
Q3 25	$426.0K
Q4 25	$2M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-3.5%	+8.9%
Q2 22	+5.4%	+6.6%
Q3 22	+7.0%	+30.5%
Q4 22	+15.4%	+19.9%
Q1 23	+14.9%	+25.4%
Q2 23	+23.2%	+43.4%
Q3 23	+21.1%	+8.4%
Q4 23	+13.1%	+35.3%
Q1 24	+16.8%	+27.3%
Q2 24	+13.0%	+16.6%
Q3 24	+13.1%	+24.3%
Q4 24	+13.8%	+2.4%
Q1 25	+4.9%	+1.9%
Q2 25	+3.8%	+4.6%
Q3 25	+1.8%	+1.6%
Q4 25	-11.1%	+0.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$368.0K	1.4%
Q2 22	$413.0K	1.5%
Q3 22	$388.0K	1.3%
Q4 22	$91.0K	0.3%
Q1 23	$377.0K	1.2%
Q2 23	$318.0K	0.9%
Q3 23	$320.0K	0.9%
Q4 23	$457.0K	1.3%
Q1 24	$326.0K	0.9%
Q2 24	$390.0K	1.0%
Q3 24	$383.0K	1.0%
Q4 24	$395.0K	1.0%
Q1 25	$325.0K	0.8%
Q2 25	$331.0K	0.8%
Q3 25	$337.0K	0.8%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q1 22	$12M
Q2 22	$12M
Q3 22	$11M
Q4 22	$5M
Q1 23	$11M
Q2 23	$13M
Q3 23	$11M
Q4 23	$11M
Q1 24	$12M
Q2 24	$13M
Q3 24	$11M
Q4 24	$11M
Q1 25	$12M
Q2 25	$11M
Q3 25	$11M
Q4 25	$15M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$114M	$533M	$647M
Q2 22	$69M	$527M	$596M
Q3 22	$64M	$488M	$552M
Q4 22	$55M	$498M	$553M
Q1 23	$52M	$473M	$525M
Q2 23	$52M	$446M	$497M
Q3 23	$53M	$429M	$482M
Q4 23	$57M	$416M	$473M
Q1 24	$46M	$405M	$452M
Q2 24	$100M	$401M	$502M
Q3 24	$184M	$408M	$593M
Q4 24	$126M	$222M	$349M
Q1 25	$115M	$408M	$523M
Q2 25	$100M	$244M	$343M
Q3 25	$123M	$210M	$333M
Q4 25	$46M	$291M	$337M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	16M	+0.1%	-1.3%
Q2 22	15M	-1.3%	-2.7%
Q3 22	15M	-0.5%	-2.2%
Q4 22	15M	+0.1%	-1.7%
Q1 23	15M	+0.2%	-1.5%
Q2 23	15M	-1.2%	-1.4%
Q3 23	15M	-0.5%	-1.4%
Q4 23	15M	+0.1%	-1.3%
Q1 24	15M	+0.4%	-1.2%
Q2 24	15M	+0.2%	+0.2%
Q3 24	15M	+0.0%	+0.7%
Q4 24	15M	+1.1%	+1.7%
Q1 25	15M	-0.6%	+0.7%
Q2 25	15M	+0.1%	+0.6%
Q3 25	15M	+0.1%	+0.7%
Q4 25	18M	+14.9%	+14.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$81.0K	336
Q2 22	$82.7K	336
Q3 22	$86.3K	336
Q4 22	$93.7K	336
Q1 23	$93.1K	336
Q2 23	$101.9K	336
Q3 23	$104.5K	336
Q4 23	$88.1K	404
Q1 24	$90.4K	404
Q2 24	$95.8K	404
Q3 24	$98.3K	404
Q4 24	$105.0K	386
Q1 25	$99.3K	386
Q2 25	$104.1K	386
Q3 25	$104.7K	386
Q4 25	$78.3K	460

Revenue / Employee