C&N Q3 net income down 40% to $0.29/diluted share; declares $0.28 dividend

CITIZENS & NORTHERN CORP

2022-Q3 EPS reported $1.21

Q3 2022 net income $4.455M ($0.29 diluted EPS) vs $7.399M ($0.47) in Q3 2021, a decline of 40%.
Provision for loan losses surged to $3.794M from $1.530M, including a $2.16M partial charge-off on a commercial real estate loan.
Net interest income rose 7.3% to $20.879M, but noninterest expense increased 13.7% to $17.443M.
Declared quarterly cash dividend of $0.28/share, payable Nov 11, 2022 to holders of record Oct 31, 2022.
Nonperforming assets increased to 0.87% of total assets, up from 0.62% at June 30, 2022.

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