secwatch.observer — SEC 8-K summary
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Issuer:     CITIZENS & NORTHERN CORP (CZNC)
CIK:        0000810958
Form:       8-K
Filed at:   2022-04-21T23:59:59+00:00
Accession:  0001558370-22-005722
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Citizens & Northern Q1 net income $6.9M ($0.44/dil), down 21.5% YoY; dividend raised to $0.28
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- Net income $6.9M ($0.44/dil) vs $8.8M ($0.55/dil) YoY; diluted EPS down 20%.
- Net interest income $20.3M (+1.2% YoY) aided by $1.4M in purchased credit impaired loan recoveries.
- Provision for loan losses $891k, up 244% from $259k YoY; allowance/total loans 0.93%.
- Dividend $0.28/share (+3.7% YoY), payable May 13, 2022 to holders of record May 2.
- Equity fell 7.9% YoY to $276.2M, driven by $20.5M AOCI loss from rising interest rates.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/810958/000155837022005722/0001558370-22-005722-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/810958/000155837022005722/cznc-20220421x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-22-005722

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer