C&N Q1 EPS $0.40, down 9% YoY; deposits fall $81.6M; NIM 3.71%

CITIZENS & NORTHERN CORP

2023-Q1 EPS reported $0.40

Net income $6.25M ($0.40 diluted EPS) vs $6.90M ($0.44) in Q1 2022, down 9.3%.
Net interest margin 3.71%, down from 3.86% a year ago; net interest income $20.78M, up $449K YoY.
Total deposits fell $81.6M (-4.1%) from Dec 2022; uninsured deposits 31.7% of total.
Nonperforming loans dropped to $14.1M from $25.3M; credit for losses of $352K vs provision $2.26M in Q4.
Dividend $0.28/share declared, payable May 12; CECL adoption cut retained earnings $1.65M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

CITIZENS & NORTHERN CORP reported the three-month period ended March 31, 2023 results: net income $6,253,000, EPS $0.40 per diluted share.

Period: the three-month period ended March 31, 2023
Net income: $6,253,000
EPS: $0.40 per diluted share
Result: reported results

Exact text from the filing

Net income was $6,253,000, or $0.40 per diluted share, for the first quarter 2023

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Source: SEC EDGAR

accession 0001558370-23-006295

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