Founded in 1864, Citizens & Northern Corporation (NASDAQ: CZNC, or “the company”), headquartered in Wellsboro, PA, with $2.5 billion in assets, conducts operations through its banking subsidiary, Citizens & Northern Bank (“the bank”), with 29 branches that are primarily located in the northern tier, PA and southeastern and southcentral, PA.
CZNC has grown through M&A which includes Covenant Bank in 3Q20 and Monument Bank in Bucks County, PA in 2Q19.
The company also offers insurance and wealth management products through CZNC subsidiaries. The trust department offers a wide range of services including 401(k) plans, retirement planning, estate planning, and asset management with total AUM of $1.2 billion at 1Q24.
While maintaining its residential mortgage orientation, CZNC has slowly transitioned into a commercial lending focus. The commercial portfolio is a diverse mix of lending in C&I (21% of loans, including owner…
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